Jan 9 2013
Mr. Maurice Giroux, President and Chief Executive Officer of Stellar Pacific Ventures Inc. ("Stellar" or the "Company") and a Qualified Person as defined in NI 43-101, is pleased to report that significant results were obtained from the evaluation of the gold potential of the Namarana exploration licence in Mali, West Africa. The Namarana permit is 100% owned by Stellar Pacific Ventures Inc. and covers an area of 120 km2.
The initial program consisted of a stream sediment sampling by the BLEG method and a rock sampling of outcropping structures in artisan mine sites located within the boundary of the permit. The BLEG method has identified four anomalous gold sources, including two anomalous Au values of 6.86 ppb and 10.52 ppb, which represent priority targets within the permit area.
A total of 23 rock samples were collected in the area of the Kandane artisan mine site. Mafic volcanic rocks, sericite schists and volcano-sedimentary rocks oriented N140° to N170° were identified on the site. Four (4) significant gold values were obtained, including 48.4 g Au/t obtained from an oxidized and brachiated quartz vein.
For a better comprehension and interpretation of geology and structures, an airborne magnetic and radiometric survey was completed over the property. The survey consisted in flying over the entire property at a line spacing of 100 metres along north-south flight lines. A total of 1,175 line kilometres of survey have been flown to cover the area.
The interpretation of the geophysical data, combined with field observations, led to a preliminary geological and structural map.
This interpretation map shows that the Kandane artisan mine site is closely associated with a small intrusion of probable diorite nature and a set of structures running NE-SW and NW-SE. Even if a soil geochemistry survey grid over this area did not show strong gold anomalies, the presence of high-grade quartz veins and an extensive artisan gold digging site justify a further investigation of the area.
In the first quarter of 2013, the Company plans to start a more detailed mapping and sampling of the Kandane digging site, followed by a trenching program and some RC drilling on the most favourable targets.
ABOUT THE NAMARANA PROPERTY
The Namarana exploration licence is located in Mali, in the Kangaba circle some 150 km south west of Bamako, the capital of Mali. The licence covers an area of 120 km2 and is adjacent to the Company's flagship BALANDOUGOU project across the Guinea/Mali border. For further details on Namarana Project, please consult: http://www.stellarpacific.ca/en/english/namarana-%20project-en.html
Source: http://www.stellarpacific.ca/