Stellar Pacific Ventures Inc.
TSX VENTURE : SPX

Stellar Pacific Ventures Inc.

March 23, 2010 10:00 ET

Stellar Pacific Ventures Announces Compilation of Monster Lake Previous Drilling and Beginning of New Infill Drilling Program

MONTREAL, QUEBEC--(Marketwire - March 23, 2010) - Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") is pleased to announce it has completed a compilation which confirms a 4 kilometer long gold mineralized corridor on its recently optioned Monster Lake Property in the Chibougamau, Quebec mining camp. The compilation of SOQUEM's historical drill data confirms the presence of a minimum of 10 gold showings which contain numerous highly economical gold intersections such as 27.55 g/t Au over 4.2 meters, 4.05 g/t Au over 3.9 meters and 6.3 g/t Au over 5.1 meters. The table below lists the better intervals from each showing and the following link will provide a showing location map as well as most of the gold drill intercepts along the gold corridor. (http://media3.marketwire.com/docs/SHOWING_MONSTER_ANG.pdf)

GOLD SHOWINGS (Historical results)
ERATIX 27.55 g/t Au / 4.2 m (ddh 993-85-8)
  4.05 g/t Au/ 3.9m (ddh 993-85-11)
ANNIE 14.7g/t Au / 1.5m (ddh 993-94-23)
ZONE IV & III 13 g/t Au/ 2.9m (ddh 993-94-23)
  1.16 g/t Au / 12.7m (ddh 993-94-17)
ZONE 52 6.3 g/t Au  / 5.1m (ddh 993-95-66)
  3.12 g/t Au / 2.7m (ddh 993-95-66)
NOUVEL 2.57 g/t Au / 5.09m (ddh 86-25)
4 CHEMINS 1.35 g/tAu / 0.95m (Channel)
PATINO 1.37 g/t Au / 1.0m (ddh R-1-1)
3 CHEMINS 106.7 g/t Au / 3.5m (Channel)
COMINCO (1978) 1.0 g/t Au / 3.5m (ddh 78-10A)
993-91-33 4.57g/t Au / 1.0m (ddh 91-33)

The Monster Lake property is located 44 kilometers South–West of the town of Chibougamau in northern Quebec. It is easily accessible by road and has a major power line nearby. From 1984 to 1995 SOQUEM drilled 142 holes for nearly 20,000 meters of diamond drill core and excavated several trenches along this 4 kilometer long mineralized corridor. There are more than 45 known intersections of greater than 1 g/t Au from drill core or channel samples. The 3 principal showings, Eratix, Zone IV & III and Zone 52, have been drilled at 50 meter line spacing, but for the most part with only one hole per section, leaving several now economic intersections wide open, along strike and at depth. At current gold prices, many of these gold intersections which in the mid- 1990's were not judged economical at $US300.00 per ounce, now become very promising. There are 12 such cross-sections with mineralized intervals which are open and require immediate follow-up by drilling. They are listed in the table below:

OPEN INTERSECTIONS      
Zone Section Hole Grade Au g/t Width in m.
Eratix 7350E 993-85-11 4.05 3.92
  7375E 993-86-13 2.45 4.3
  6950E 993-86-35 2.28 6.09
  7050E 993-86-26 0.84 4.25
Zone VI & III 5500E 993-94-35 1.2 3.1
  5650E 993-94-27 2.42 1
  5800E 993-94-25 1.64 1
  5750E 993-94-28 10.6 0.5
  5600E 993-94-32 2.35 5.1
    993-94-26 0.5 11.5
Zone 52 3500E 993-95-72 3.67 1.8
  3650E 993-95-66 3.12 2.7
    993-95-66 3.8 1.6
  3700E 993-95-70 3.67 1.8

The 3 zones remain open along strike due to single hole which have encountered gold mineralisation or simply from the lack of drilling. For instance hole 95-75 intersected 3.14 g/t Au over 2.0 meters and hole 95-55 cut 5.83 g/t Au over 1.1 meter and are single holes south of the 52 Zone, which add a potential 400 meters of additional strike length to the zone. The north extension of Zone 52 is also open as no holes have been drilled for at least 500 meters along strike to the North.

"Considering the amount of gold showings and open drill intersections, the Monster Lake Project is the most underworked project in the Abitibi" says Maurice Giroux, Stellar's President and CEO. He also added "We consider ourselves lucky to have been able to option such a well documented and promising property. It usually cost millions of dollars and years of efforts to bring such a property to the current level of understanding. We are very bullish about the potential of this project and are anxious to start the next infill drilling phase".

Stellar Pacific Ventures Inc. is now planning the next field program which will consist of stripping and sampling of the main zones and infill drilling where necessary. As soon as weather condition allows and that snow covers is gone, Stellar will re-localise former SOQUEM's drilling and stripping area and start the new program.

About Stellar Pacific Ventures

Stellar Pacific Ventures (TSX VENTURE:SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada and Africa.

Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.

The technical content of this press release have been reviewed and approved by Mr. Maurice Giroux, a qualified person as defined in NI 43-101 regulation.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Stellar Pacific Ventures Inc.
    Maurice Giroux
    President and CEO
    514-866-6299
    514-866-8096 (FAX)
    Ress.stellar@bellnet.ca