Stellar Pacific Ventures Inc.

Stellar Pacific Ventures Inc.

September 08, 2010 10:00 ET

Stellar Pacific Ventures Cuts 1,68 g Au/t Over 90 Metres on Balandougou, Guinea, West Africa

MONTREAL, QUEBEC--(Marketwire - Sept. 8, 2010) - Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") is proud to announce results of the 5 trenches program designed to confirm the nature and gold grades of a large and strong gold anomaly outlined by Stellar in a detailed soil geochemistry survey. The anomaly extends for three kilometres to the east of the Solotomo artisan mine site. Details of this survey are disclosed in a news release issued on 06-17-2010.

The highlight of this initial trenching program is the intersection in all trenches, CQ-1, CQ-2, CQ-3, ST-1 and ST-2 of a large gold mineralized sheared zone hosting metric size quartz veins and veinlets . All five trenches show mineralisation on entire length and the shear zone extend the tested area. A map showing the results compilation of the SOLOTOM detailed work program is available on the following link:


Trench CQ-1: 1,68 g Au /t over a length of 90.0m
  Including: 2, 03 g Au /t over a length of 8,0m
  Including: 3, 12 g Au /t over a length of 32,0m
Trench CQ-2 1, 09 g Au /t over a length of 58,0m
  Including: 2, 06 g Au /t over a length of 16,0m
Trench CQ-3 0, 22 g Au /t over a length of 11,0m
  Including: 1, 19 g Au /t over a length of 1,0m
Trench ST-1 1, 77 g Au /t over a length of 39,0m
  Including: 2, 55 g Au /t over a length of 25,0m
Trench ST-2 0, 41 g Au /t over a length of 44,0m
  Including: 2, 09 g Au /t over a length of 4,0m

Soil Geochemistry is proven to be the most efficient exploration method used to find large gold deposits in a lateritic geological environment. A majority of gold deposit known in West Africa has been outlined by this method. Gold anomalies can be very low grade, a few tenths of a gram, generally, represents an important indicator. In the case of Solotomo area, we are in presence of numerous soil sample grading over 1, 0 g Au /t up to 13,8 g Au /t obtained in a sample just 500 metres SE of the Solotomo Artisan diggings. In many cases, soil geochemistry signature is reflecting the deposits found underneath those anomalies.

Direct observation of the gold geochemistry of the area suggests that we are in the presence of two different sets of structures oriented N70°E and N120°E. Higher grades seems to be associated to the N120°E structures, and possibly to the intersection of both structures as it looks to be the case for the SOLOTOMO mineralised stockworks.

All trenches are 3.0 metres deep and channel sampling is performed metre by metre at the bottom of each trench. A 2, 5 kilogram sample is taken. Samples were sent to SGS Siguiri Laboratory and analysed by Fire Assay method.

Maurice Giroux, President and CEO and qualified person as per NI 43-101 regulations said: "I am very pleased by the results of that initial trenching program. It confirms that the large and strong gold anomalies outlined earlier are in fact the signature of a large mineralized shear zone which host metric size quartz veins and veinlets. The current trenches tests a small portion of the anomalies that extends for kilometres. It is also important to consider that this anomaly is somehow associated to the Solotomo Artisan Mine that is considered as being the most prolific artisan mine in this part of Guinea. With our current understanding of the area, we are confident to be able to build up a substantial gold resource during the course of the next drilling campaign.

I am also very pleased with the improving political situation of the country. The first democratic government will be elected shortly and this really please the international community and I foresee for Guinea an important economic upturn. In term of mining exploration, this country is to my opinion the last frontier in West Africa for discoveries of large world class gold deposits, and Stellar Pacific Ventures is well positioned for the coming wave."

The company will undertake a 10,000 metre RC drilling program on that specific area in November and in the mean time, will keep working on the structural evaluation of the area in order to maximise drilling program.

Let's recall that, by an option agreement signed with Goldenfrank Resources Inc. in January 2009, Ultragold Holding of Denver Co., can earn 50% of Goldenfrank's stake in the Guinea Properties by spending US$1, 5 million in exploration work on the Balandougou property.


The Balandougou property is located 100 kilometers to the North of Siguiri, in Upper Guinea, close to the Mali border. It is composed of three contiguous permits covering an extensive area of 419 km2. From North to South, the three permits are referred as to Niagassola, Socosgui, and Sirakoro permits.

In 2007, GoldenFrank Resources Inc., now a wholly-owned subsidiary of Stellar Pacific Ventures Inc., bought an 80% interest in the property.

In Upper Guinea, the Birimian formations belong to the Siguiri Basin, composed mainly of fine grained sedimentary rocks (argillites and siltstones) with late granitic intrusions. The Siguiri Basin hosts the three producing gold mines in Upper Guinea: Koron (Anglo-Ashanti), Lero-Karta (Kenor) and Kiniero (SEMAFO), as well as two other major gold mines in neighbouring Mali: Kangaba and Kéniéba.

On the Niagassola permit, the main gold occurrence is the Kéniébani Artisan gold mine. This active gold digging site extends for at least 600 metres along a major quartz vein. The vein is estimated to strike N 55°E with a subvertical dip. Eight quartz blocks samples collected on this site yielded gold concentrations ranging between 7.2 and 465 g/t Au.

To the East of Kéniébani site, a quartz vein, exposed in a trench on the side of a hill, returned values of 2.26 and 20.7 g/t Au. 

To the West of Kéniébani site, a lenticular quartz vein returned a value of 1.01 g/t Au. 

On the SOCOSGUI permit, ten (10) gold occurrences were visited. Three (3) of them (Fadaninda, Mawren and Solotomo) are considered as high priority targets.

Two (2) others (the ST and CQ groups of trenches) warrant additional work. The five others did not yield encouraging results and are considered as lower priority targets.

Fadaninda consists of a quartz vein estimated to strike N10°E with a subvertical dip. Two samples collected on this site yielded 62 and 108 g/t Au. Mawren is a quartz vein estimated to strike N25°E with a subvertical dip. A sample from the artisan mine tailings returned 154 g/t Au. 

Solotomo is a stockwork of quartz veinlets in a fine grained granitic rock and the overlying laterite. Three samples collected on this occurrence gave 33.9, 21.1 and 12.3 g/t Au. Solotomo has been the site of a large gold rush between November 2006 and April 2007, when some 14,000 artisan miners were working on this gold occurrence.

The company also owned a major interest in the Siguiri, Saraya and Mandiana Permits, covering 361 km2 bringing their land position in Guinea to an extensive 780 km2 of prolific gold terrain. 

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.

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