Stellar Pacific Ventures Inc.
TSX VENTURE : SPX

Stellar Pacific Ventures Inc.

February 01, 2011 10:00 ET

Stellar Pacific Ventures Drill 11.3 g Au/t at Monster Lake, Chibougamau

MONTREAL, QUEBEC--(Marketwire - Feb. 1, 2011) - Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company") announces first results of the current drilling program on the Monster Lake property in Chibougamau mining camp Quebec.

To date, Stellar received the results for 7 holes drilled in December 2010. All holes intercepted the mineralized structures and report significant gold content. Hole M-18-10 located 100 metres South West of surface showing Zone 325 cut a 5 metres zones grading 5.38 gAu over 5,0m including 11.3 gAu over 1,0m and 8.6 gAu over 2,0 m. The mineralized structure at depth is consistent with the surface showings and is composed of silicified schist containing 3 to 15% sulphide mainly Pyrite and Pyrrhotite with minor Chalcopyrite.

The following table shows results currently available:

Hole # From: To: Width Grade gAu/T
M-18-10 67.7 69.0 1,3 m. 1,17
  78.0 79.0 1,0 m. 6,79
  79.0 80.0 1,0 m. 0,153
  80.0 81.0 1,0 m. 11,31
  81.0 82.0 1,0 m. 5,92
  82.0 83.0 1,0 m. 2,86
M-15-10 79.0 80.0 1,0 m. 2,03
  80.0 81.0 1,0 m. 7,51
  81.0 82.0 1,0 m. 2,12
  82.0 83.0 1,0 m. 1,08
M-01-10 33.2 34.1 0,9 m. 3,76
M-02-10 49.0 50.0 1,0 m. 3,80
  54.20 55.20 1,0 m. 2,22
M-06-10 23.0 24.0 1,0 m. 3.87
  24.0 25.0 1,0 m. 1,11
M-11-10 159.0 160.0 1,0 m. 1,36
  165.0 165.9 0,9 m. 1,83
  166.4 168.0 1,6 m. 1,18
M-17-10 62.4 63.0 0,6 m. 2,11
  69.5 70.7 1,2 m. 1.00
  70.7 71.4 0,7 m.  

The current drilling is positioned between surface showings Mégane, 325 and Annie and zone 52 and confirms the continuity of the mineralized structure. This structure can be followed over a distance of more then 4.5 km and surface observation and drill intersection refers to a 2 to 12 metres wide shear zone grading between 1 to as high as 128,24 g Au/t in Hole 94-23 drilled by SOQUEM in 1994 in Annie Zone. The mineralized structure was cut in most of the 23 holes drilled.

The results obtained suggest the coarse nature of the gold contained in the Monster structure. For a more comprehensive analysis of gold in rock/core, the company selected the Pulp Metallic procedure for 185 samples, all selected from the mineralized shear zone. This procedure is able to overcome the "Nugget Effect" of gold by increasing the sub-sample size to 1,000g and physically collecting the free gold within the system using a 150 mesh (106μ) sieve. This procedure is most effective when the whole sample is used for the analysis. The sub-sample is pulverized to ~90% -150 mesh (106μ) and subsequently sieved through a 150-mesh (106μ) screen. The entire +150 metallic portion is assayed along with two duplicate sub-samples of the -150 pulp portion. Results are reported as a weighted average of gold in the entire sample.

The Company will provide other drill results as they come available in the following weeks. After compilation of the current campaign, the company intends to undertake a second 3,000 metres drilling phase. 

ABOUT MONSTER LAKE PROPERTY

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. 

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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