MONTREAL, Jan. 23 /CNW Telbec/ - Stellar Pacific Ventures (SPX) is
pleased to release the results from a recent drilling program on its Vassan
property located near the town of Val d'Or. The company completed a 10 hole
drill program on the Hamelin mineralized zone in December. The following
table gives all results above 1 g/t Au. Some copper, zinc and silver results
have not been received yet.
Drill
Hole No. From To Length Grades
(m) (m) (m) g/t Au Cu %
V2005-01 216,0 216,7 0,7 32,10 0,16
258,0 258,3 0,3 27,00 0,91
V2005-02 239,7 240,5 0,8 8,52 1,35
240,5 241,0 0,5 0,48 0,01
241 241,6 0,6 4,31 0,15
average 239,7 241,6 1,9 5,07
V2005-03 No value above 1 g/t Au
V2005-04 387,4 388,5 1,1 24,50 0,10
V2005-05 365,1 365,6 0,5 2,94 0,22
374,4 375,3 0,9 8,40 0,53
V2005-06 196,4 197,57 1,17 1,61 0,21
247,95 248,63 0,68 6,91 0,36
V2005-07 166,6 167,37 0,77 3,91 0,10
V2005-08 221,0 221,45 0,45 1,21 -0,01
221,45 222,32 0,87 8,38 1,19
V2005-09 31,15 31,58 0,43 0,99 2,19 % Zn
397,38 397,79 0,41 60,40 0,59
V2005-10 61,14 61,7 0,56 9,17 0,96
70,09 70,7 0,61 6,10 0,08
Some copper values from holes V2005-01 and 02, shown in an earlier press
release (Holes V2005-01 to 04), have been corrected by the laboratory.
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It is noteworthy to indicate that only one hole did not return a single
value above 1 g/t Au and that four intersections above 20 g/t Au were
obtained. Holes V2005-04, 05, 06, 08 and 10 successfully tested the extensions
of the known mineralisation while holes V2005-01, 2, 7 and 9 confirmed the
continuity of previous intersections. Although the structure was recognized in
hole V2005-03 (0,95 g/t Au over 0,4 m), the latter might represent a localised
barren sector in the center of the vein since it is completely surrounded by
high grade intersections.
Even though gold grades are usually proportional with sulphide contents
on this project, this drilling program included a number of exceptions to that
rule as average grade intersections where obtained from sulphide rich veins
while high grades ones were anticipated.
The mineralized structure consists of semi massive to massive sulphides
and magnetite (pyrrhotite, pyrite, chalcopyrite, local magnetite) and/or
sulphide rich grey quartz veins and veinlets. Locally, two distinct structures
are identified. Shearing is usually absent indicating that it is a tensional
environment. The structure strikes in an ENE direction and its dip is sub-
vertical. It exhibits an easterly plunge at about 40 degrees. It has now been
traced laterally for more than 300 m and vertically for 500 m. It is open to
depth and to the east.
All samples have been assayed at ALS Chemex of Val d'Or by FA-AA and FA-
GRAV. Control samples (blanks and standards) are systematically incorporated
in our lots and pulps and rejects are re assayed for sample grading above
10 g/t Au. Drilling has been carried out under the supervision of professional
geologist and qualified person (NI43-101) Pierre O'Dowd. The latter also
revised and approved the present press release.
The company is currently compiling results and should produce an up dated
longitudinal section soon. A new drilling program should then be proposed to
continue to test all extensions to the known mineralisation as well as
complete in fill drilling. Our objective is to produce a measured mineral
resource estimate before the end of this year. The proposed budget for this
project in 2006 is $600,000.
Stellar Pacific Ventures is also evaluating with its partner Vantex
Resources inc (VTX) the possibility of rehabilitating the site of the former
Heva mine, located in the Joannes Township, near Rouyn-Noranda. The company
completed an initial drilling program last fall that confirmed past gold
values obtained in the 1980's. The rehabilitation would require the dewatering
of the top levels, the evaluation of the underground infrastructures as well
as the sampling of the gold zones accessible by the existing galleries. A
decision should be taken before spring.
The technical information contained in this press release has been
prepared by Pierre O'Dowd P. Geo, a qualified person as per National
Instrument 43-101.
Stellar Pacific Venture Inc. is a junior mining exploration company
listed on the TSX-V whose primary objective is to develop and bring into
production viable gold deposits.
"Michel Lemay"
Michel Lemay
President
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release.
