Business
Stellar Reviews its 2007 drilling results and objectives for 2008 on Vassan and Heva properties
LAVAL, QC, March 3 /CNW/ - VASSAN PROJECT --------------
About this update from Stellar Africagold, Inc.
[{"type":"text","content":"\n\n\n\nLAVAL, QC, March 3 /CNW/ -\n\n\nVASSAN PROJECT\n--------------\n\nThe management of Stellar is pleased to report that the 2007 drilling\nprogram on Vassan was successful as the Company demonstrated that the main\nstructure (H-3) is still present around the 600 metre level and that two new\nparallel structures (H-1 and H-2) appear below the 400 metre level.\n\nThe 2007 drilling program demonstrated two important facts:\n\n 1. The Hamelin zone (H-3) reappears below 500 meters (V2007-04:\n 5.82 g/t Au over 8,90 m,)\n 2. Two new veins appear below 400 meters (H-1 and H-2: V2007-02:\n 10.52 g/t Au over 2.20 m,) Vein H-1 can sporadically be traced\n so far for 200 metres vertically by 200 metres laterally.\n\n-------------------------------------------------------------------------\nIt becomes clear that the Hamelin vein system plunges vertically and that\nit consist of a multiple vein system at depth compared to a single vein\nfrom surface down to the 400 metres level.\n-------------------------------------------------------------------------\n\nThe company announced in its press release dated October 03, 2006, the\nfirst resource estimate on the Vassan property covering the surface down to\nthe 400 meter level. The estimate was produced by independent geologist and\nqualified person Yves Gagnon (P. Ing.) from Val d'Or. Mr Gagnon's report\nstates that the mineral inventory of the Vassan property is estimated at\n385 054 tons grading 5.01 g/t Au, 0.19 % Cu and 3.41 g/t Ag within the drill\nindicated category. An inferred resource is also estimated at 62 600 tons\ngrading 4.15 g/t Au, 0.10 % Cu and 1.32 g/t Ag.\n\n-------------------------------------------------------------------------\nThe indicated resources would then contain 67 509 ounces of gold and the\ninferred resources would contain 8 343 ounces of gold plus credits for\ncopper and silver.\n-------------------------------------------------------------------------\n\nNumerous mineral occurrences and past producing mines are located in the\nimmediate surrounding of the Vassan property including the Sullivan Mine\nlocated 3.5 km away (production of 2.5 millions ounces of gold with a\n972 meter deep shaft), the Siscoe Mine located 2.7 km away (production of\n2.0 millions ounces of gold with a 754 meter deep shaft) and the Kiena Mine\nlocated 5 km to the south.\n\n--------...