MONTREAL, QUEBEC--(Marketwire - Nov. 21, 2012) - Mr. Maurice Giroux, President, C.E.O. and Qualified Person of Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or the "Company"), is pleased to announce significant core drill results at depth on the B3 zone of the Balandougou Project in Guinea, West Africa. Of the 15 holes totalling 2,550 metres that were drilled on B3 zone, the Company has completed the compilation of 12 holes so far, of which 10 have cut significant gold grades. Among them, hole # B3/DDH-15 cuts 2.6 m of 7.31 g Au/t, hole # B3/DDH-13 cuts 3.0 m of 4.90 g Au/t, and hole # B3/DDH-10 cuts 1.5 m of 4.01 g Au/t.
The following table shows the most significant drill intersections:
|BEST CORE DRILL INTERSECTION ON B3 ZONE
||1.15 gr Au /t/ 5.10 m
||4.90 gr Au /t/ 3.00 m
||2.78 gr Au /t/ 1.70 m
||1.00 gr Au /t/ 1.40 m
||7.31 gr Au /t/ 2.60 m
||2.00 gr Au /t/ 2.65 m
|2.09 gr Au /t/ 1.00 m
1.44 gr Au /t/ 3.00 m
||3.14 gr Au /t/ 1.10 m
|1.47 gr Au /t/ 1.20 m
2.81 gr Au /t/ 1.50 m
||1.14 gr Au /t/ 1.50 m
The B3 gold structure observed at depth in the fresh core consists of black graphitic schist injected with some white quartz veins and veinlets. The schist contains up to 20% sulphides, mainly pyrite and pyrrhotite, while arsenopyrite is sometimes associated with the quartz veins. On average, the zone strikes roughly N120°E and dips some 45° to the southwest. The zone is parallel to a series of quartz veins and veinlets observed in trenches E, F, G and H.
To date, on the basis of gold in soil anomalies and extensive geological observations of different artisan digging sites, and following full magnetic and radiometric coverage of the entire 606 km2 of the Balandougou property, 16,000 metres of core and RC drilling have been done on the property. This work has led to the discovery of three extensive gold mineralized structures, namely, the Solotomo B3 and B1 zones. Those three structures total 2,000 linear metres of gold mineralization and all three remain open in all directions.
ABOUT THE BALANDOUGOU PROPERTY
The Balandougou project in Guinea is a 49% / 51% joint venture between Stellar Pacific Ventures and partner Ultragold Holding based in Denver Colorado. The Balandougou property is located 100 kilometres north of Siguiri in Upper Guinea at the Mali border. It is comprised of four contiguous exploration licences that cover an extensive area of 606 km2.
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 Africa. Stellar is dedicated to creating growth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.
NEW COMPANY WEBSITE
The Company is pleased to inform shareholders that the Company's new website is now on line at www.stellarpacific.ca
The website has been updated and adapted to better reflect the Company's objective of focusing on West Africa's gold potential to create wealth. Following the spinoff of its Quebec assets and the distribution of 16.5 million shares of TomaGold Corporation Inc. to shareholders of Stellar Pacific Ventures Inc., the Company is fully dedicated to developing the potential of its existing assets in Guinea and in Mali. Stellar is also in advanced discussions to incorporate some exploration assets in Burkina Faso into its portfolio.
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.