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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Stellar AfricaGold Inc | TSXV:SPX | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.005 | -6.67% | 0.07 | 0.065 | 0.085 | 0.07 | 0.07 | 0.07 | 7,000 | 16:29:58 |
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Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or "the Company") is
pleased to announce the results of the last RC drill program on the B3 and B1
mineralized structure and on the west extension of the Fadaninda artisan mine
site.
The drilling has confirmed the B1 gold structure on an additional 250 metres to
the North East and on 150 metres to the South West. The B1 mineralized zone can
now be traced over a distance of 800 metres. Hole # B1-12-03 reported a section
of 2.33 g/t Au / 4.0 m including 4.1 g/t Au / 2.0 metres some 120 metres south
east of holes B1-11-01 whom reported significant gold grade. To the North West
extension. holes # B1-12-07 and B1-12-10 reported respectively sections of 10
metres grading 1.24 g/t Au and 2 metres grading at 3.97 g/t Au.
The B1 zone is a wide mineralized sheared zone associated with a series of
quartz veins and veinlets. The zone strikes NE-SW with a moderate dip to the NW
(average attitude: 242/37). Four trenches (A, B, C and D, from NE to SW) were
mapped and sampled on zone B-1. Trenches A (0.65 g/t Au over 34 m) and B (1.06
g/t Au over 46 m) located a wide zone of gold mineralization, at least 400 m
long.
For references. the following table lists the best intersection obtained so far
in the B1 zone:
BEST RC DRILL INTERSECTION ON B1 ZONE
-------------------------------------------------------------
HOLE # FROM TO INTERSECTION
-------------------------------------------------------------
(m) (m) (gr Aum)
-------------------------------------------------------------
B1-11-04 0 29 0.90 gr Au30 m
-------------------------------------------------------------
B1-11-05 0 66 0.58 gr Au66 m
-------------------------------------------------------------
B1-11-06 0 66 0.28 gr Au66 m
-------------------------------------------------------------
B1-11-09 42 44 5.25 gr Au2 m
-------------------------------------------------------------
B1-11-10 6 8 2.46 gr Au2 m
56 60 0.5 gr Au4 m
-------------------------------------------------------------
B1-11-11 10 16 1.0 gr Au6 m
52 62 1.46 gr Au10 m
-------------------------------------------------------------
B1-11-12 1 48 1.64gr Au47 m
Incl. 13 28 3.15 gr Au15 m
-------------------------------------------------------------
B1-11-13 0 5 0.92 gr Au5 m
-------------------------------------------------------------
B1-11-20 0 4 0.98 gr Au4 m
-------------------------------------------------------------
B1-11-21 25 26 1.29 gr Au1 m
36 45 1.0 gr Au9 m
-------------------------------------------------------------
B1-12-03 2 4 0.57 gr Au/2m
4 6 4.08 gr Au/2m
-------------------------------------------------------------
B1-12-07 12 22 1.24 g Au/10m
-------------------------------------------------------------
B1-12-10 16 18 3.97 g Au/2m
-------------------------------------------------------------
The mineralized zone B3 is located 1.3 km to the South West of Zone B1. The
trenching program on Zone B3-11 allowed the identification of a significant
auriferous zone. This zone extends over a minimal length of 1000 m. It remains
open to the NW and to the SE. On average. the zone strikes roughly N120 degrees
E and dips some 45 degrees to the southwest. It is parallel to a series of
quartz veins and veinlets observed in trenches E, F, G and H.
The structural analysis carried out in trenches A to I suggest that the
auriferous zones identified in sectors B-1 and B3-11- belong to a conjugate
system of shear zones. Sector B-1 mineralization occurs within a NE-SW striking
shear zone with a senestral movement. On the other hand. sector B3
mineralization occurs within a NW-SE striking shear zone with a dextral
movement. Consequently. the auriferous veins present in sector B-1 and B3-11
belong to the oblique shear veins geometry. which is commonly found in shear
zones.
In a fence of 3 RC holes drilled to confirm the South East extension of the B3
zone. Hole # B3-12-05 has cut 3 mineralized sections that confirmed the
extension of the B3 zone. The following table lists the mineralized section in
hole # B3-12-05:
-------------------------------------------------------------
HOLE # FROM TO INTERSECTION
-------------------------------------------------------------
(m) (m) (gr Aum)
-------------------------------------------------------------
B3-12-05 42 44 1.73 gr Au 2 m
44 46 0.47 gr Au 2 m
52 54 0.96 gr Au 2 m
54 56 1.18 gr Au 2 m
62 64 1.24 gr Au 2 m
-------------------------------------------------------------
For references. the following table list the best RC intersection on the B3 zone
so far:
BEST RC DRILL INTERSECTION ON B3 ZONE
-------------------------------------------------------------
Hole# from to INTERSECTION
-------------------------------------------------------------
(m) (m) (gr Aum)
-------------------------------------------------------------
B3-11-02 1 3 1.24 gr Au2 m
-------------------------------------------------------------
B3-11-05 39 59 2.0 gr Au19 m
-------------------------------------------------------------
Incl. 40 46 3.44 gr Au6 m
-------------------------------------------------------------
B3-11-06 44 47 2.48 gr Au3 m
-------------------------------------------------------------
Incl. 45 46 6.79 gr Au1 m
-------------------------------------------------------------
B3-11-08 0 12 2.27 gr Au12 m
-------------------------------------------------------------
Incl. 0 5 3.10 gr Au5 m
-------------------------------------------------------------
9 10 6.44 gr Au1 m
-------------------------------------------------------------
B3-11-09 0 8 1.26 gr Au8 m
-------------------------------------------------------------
Incl. 3 4 5.48 gr Au1 m
-------------------------------------------------------------
7 8 3.32 gr Au1 m
-------------------------------------------------------------
B3-11-12 1 30 1.15 gr Au29 m
-------------------------------------------------------------
Incl. 24 29 2.5 gr Au5 m
-------------------------------------------------------------
B3-11-13 0 10 0.89 gr Au10 m
-------------------------------------------------------------
Incl. 9 10 3.55 gr Au1 m
-------------------------------------------------------------
B3-11-14 5 6 2.83 gr Au1 m
-------------------------------------------------------------
33 34 1.52 gr Au1 m
-------------------------------------------------------------
B3-11-18 3 9 2.20 gr Au6 m
-------------------------------------------------------------
B3-11-21 11 12 1.89 gr Au6 m
-------------------------------------------------------------
B3-11-22 33 37 1.13 gr Au4 m
-------------------------------------------------------------
53 64 1.27 gr Au12 m
-------------------------------------------------------------
Incl. 60 61 9.97 gr Au1 m
-------------------------------------------------------------
B-2 23 7 22 1.63 gr Au15 m
-------------------------------------------------------------
Incl. 11 16 2.82 gr Au5 m
-------------------------------------------------------------
B3-11-24 0 4 4.22 gr Au4 m
-------------------------------------------------------------
Incl. 0 1 15.8 gr Au1 m
-------------------------------------------------------------
40 43 1.50 gr Au3 m
-------------------------------------------------------------
B3-11-26 0 35 1.47 gr Au35 m
-------------------------------------------------------------
Incl. 9 11 2.52 gr Au2 m
-------------------------------------------------------------
17 24 2.72 gr Au7 m
-------------------------------------------------------------
28 30 4.09 gr Au2 m
-------------------------------------------------------------
33 35 5.16 gr Au2 m
-------------------------------------------------------------
55 58 5.35 gr Au2 m
-------------------------------------------------------------
B3-11-27 16 26 2.0 gr Au10 m
-------------------------------------------------------------
Incl. 22 26 4.24 gr Au4 m
-------------------------------------------------------------
B3-11-30 9 23 2.76 gr Au14 m
-------------------------------------------------------------
Incl. 9 12 5.0 gr Au3 m
-------------------------------------------------------------
16 20 4.54 gr Au4 m
-------------------------------------------------------------
56 61 3.51 gr Au5 m
-------------------------------------------------------------
B3-11-31 36 43 4.1 gr Au7 m
-------------------------------------------------------------
52 53 16.5 gr Au1 m
-------------------------------------------------------------
56 57 7.13 gr Au1 m
-------------------------------------------------------------
63 66 3.04 gr Au3 m
-------------------------------------------------------------
B3-11-33 12 21 4.41 gr Au9 m
-------------------------------------------------------------
Incl. 14 17 6.0 gr Au3 m
-------------------------------------------------------------
B3-11-36 27 29 1.23 gr Au2 m
-------------------------------------------------------------
B3-11-43 18 19 2.61 gr Au1 m
-------------------------------------------------------------
B3-12-05 42 44 1.73 gr Au 2 m
44 46 0.47 gr Au 2 m
52 54 0.96 gr Au 2 m
54 56 1.18 gr Au 2 m
62 64 1.24 gr Au 2 m
-------------------------------------------------------------
A total of 16 RC holes were drilled to the west of Fadaninda artisan mine site
in order to localize a possible extension of some mineralized structures
identified at the mine site.
Only holes # FA-12-07 reported 14.93 g Au/t over a section of 2 metres and
FA-12-11 reported a grade greater than 1.0 gr Au/t over 2 metres.
Stellar is currently compiling and evaluating core drill results that should be
released by mid-October.
ABOUT THE BALANDOUGOU PROPERTY
The Balandougou project in Guinea is a 49% / 51% joint venture between Stellar
Pacific Ventures and its 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.
To date, and on the basis of gold in soil anomalies and extensive geological
observations of different artisan digging sites and finally on the basis of full
magnetic and radiometric coverage of the whole 606 km2 of the Balandougou
property. 16,000 metres of core and RC drilling were done on the property. This
work led to the discovery of 3 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 of them remain open in all directions.
STELLAR'S SOCIAL COMMUNITY INVOLVMENT
Stellar is also very proud to inform shareholders that as part of its continued
involvement in the local community benefit, this year, company will provide
school uniforms and school supplies to all 316 students of the Elementary School
of Balandougou village.
The technical content of this press release has 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.
FORWARD-LOOKING STATEMENTS
This news release may contain forward-looking statements including but not
limited to, comments regarding the financing of Stellar, the distribution to its
shareholders, the timing and content of upcoming work programs. geological
interpretations, receipt of property titles, potential mineral recovery
processes, etc. Forward-looking statements address future events and conditions
and therefore, involve inherent risks and uncertainties. Actual results and
events may differ materially from those currently anticipated in such
statements. The Company undertakes no obligation to update forward-looking
statements if circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on forward-looking
statements.
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