Business
Stellar continue its acquisition in gold play with land position in Vauquelin
Stellar continue its acquisition in gold play with land position in Vauquelin.
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"\n\n\n\n\nMONTREAL, QC, April 12 /CNW/ - Stellar Pacific Ventures (SPX) is pleased\nto announce the acquisition of 100% interest in the Vauquelin property located\nin the Vauquelin Township, Abitibi, Quebec. The company is earning its\ninterest by paying $10,000 and issuing 400,000 of its share capital to two\nprospectors.\nThe property, which consists of 23 claims covering 368 hectares, is\nadjacent to past producing mines. The property is bordered to the south by the\nNordeau gold deposits, as well as the former Chimo Mine. Historical production\nand resources of the Chimo-Nordeau district are estimated at approximately\n300,000-350,000 oz of gold. The main interest of the property consists of its\nstrategic location along the Cadillac Deformation Zone. Compilation of old\ndata, mapping and geochem sampling are schedule for the summer.\n\nUp date on other projects\n\nStellar completed its winter program on the Opinaca North Block property.\nThis initial phase of work consisted of line cutting and a ground magnetic\nsurvey covering approximately 50 line kilometres. Geophysical report is\npending. Mapping and geochemical sampling will be performed during the summer\nin order to define potential drilling targets.\nThe company is compiling data from its winter drilling program on the\nVassan property where excellent results were obtained. An independent\nconsulting firm will produced a first mineral inventory for the Hamelin Zone\nbefore the end of May. Drilling of the extensions of the orebody should resume\nin early June.\nStellar Pacific Venture Inc. is a junior mining exploration company\nlisted on the TSX-V whose primary objective is to develop and bring into\nproduction viable gold deposits.\n\n\"Michel Lemay\"\n----------------------\nMichel Lemay\nPresident\n\nThe TSX Venture Exchange has in no way passed on the merits of the\nproposed transaction and has neither approved or disapproved the contents\nof this press release.\n\n\n","length":1999,"tagName":"div"}]