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Stellar pacific ventures inc. completes 6,400 metres of core and rc... by 123wert sdfsf
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Stellar pacific ventures inc. completes 6,400 metres of core and rc... |
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Business,Business News,Business Opportunities
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Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) ("Stellar" or "the Company") is pleased to announce the completionof its current drilling program consisting of more then 6,000metres of core and RC drilling on zones B3 and B1 of the SolotomoDiscovery and on the western extension of the Fadaninda artisanmine site on the Balandougou property in Guinea, West Africa. Thedrilling program on B3 and B1 was recommended by the Company'sconsultant Dr. Pierre Trudel of Aecom Canada in his report " Structural Analysis from the November 2011 Trenching Program on theBalandougou Property, Guinea, West Africa, January 2012 ".
The core drilling program consisted of 24 holes totalling 3,400linear metres drilled on B-3 and B-1 structures where two previousprograms totalling 8,000 metres of RC drilling and some 1,400linear metres of mechanical trenching carried out since 2009 haveidentified two gold corridors totalling 1,400 metres of goldmineralized strike. The core drilling program aimed to test the twozones at depths of 125 and 200 metres. Mr. Maurice Giroux , CEO of Stellar and Qualified Person, indicated: "I am back from afield trip in Guinea and I was very pleased to observe that thefirst nine holes drilled at the time of my visit all intersect thetarget which consists of a shear zone-hosted quartz-veinmineralized in gold. This shear zone is similar to that observedelsewhere in the late Proterozoic Birimian terrains in West Africa.These hydrothermal deposits are typically late orogenic depositsand exhibit a strong relationship with regional arrays of majorshear zones.
The gold mineralization is typically associated with anetwork of quartz vein containing subordinate amounts of carbonate,tourmaline, sulphides and native gold. In these deposits, the goldcan be free milling to a certain extent. Alternatively, the goldmineralization can be also associated with disseminated sulphidesin strongly deformed alteration zones. In the latter case, gold maybe either free milling or refractory. This program is important forStellar as it brings elements of geological and structuralunderstanding that trenching and RC drilling in oxide rocks cannotprovide.
We are confident with our core observation that results ofcore drilling will match previous RC results. The Company simultaneously undertook a 40 holes/3,000 metres RCdrilling program. A total of 26 holes were positioned onFadaninda's west extension and on Fadaninda's south anomalies. TheCompany's on-site geologist reported the intersection of numerousquartz veins that can possibly be structurally associated with theFadaninda artisan mine system.
Fadaninda is an active gold digging site, in hard rock. Artisandiggers exploit an extensive system of auriferous quartz veins. Theveins strike N 80 E with a steep dip to the south. It wasnot possible to evaluate the thickness of the veins from thelimited exposure in the pits. However, the amount of quartzmaterial extracted from the pits is impressive.
Visible gold isfrequently observed in the quartz blocks brought to the surface bythe artisanal miners. The gold at Fadaninda appears to be associated with black manganeseoxides along fracture planes in the brittle quartz. The host rockis Birimian argillic schist. The two samples collected by Dr.Pierre Trudel during his 2007 mission to this site returned highgold values of 108 and 62 g/t Au respectively (samples 07-FA-21 and22).
Two other samples, collected by the Guinean geologists N'FalyCamara and Monsomba Camara during a previous mission, also yieldedsignificant gold values of 35.8 and 16.8 g/t Au respectively(samples FD2 and FD3). Finally, 14 RC holes were also positioned to test the northwest andsoutheast extensions of zone B3 and the east and west extensions ofzone B1. There again, visual observation of the RC rock chipssuggested that those fences of holes succeeded in extending the B3and B1 zones that still remain open in all directions. All RC samples have already been sent to the preparation laboratorywhile the preparation of core samples is progressing well andshould be completed before the end of May. The Company expectsresults to start flowing in by mid-June.
"Now that we have finalized the sale of our Quebec-based projectsto TomaGold, and distributed substantially all of the proceeds toStellar's shareholders as shares of TomaGold, we can focus onincreasing shareholder value by developing the potential of ourBalandougou property, which is at an advanced stage ofexploration," said CEO Maurice Giroux. ABOUT THE BALANDOUGOU PROPERTY The Balandougou project in Guinea is a 49% / 51% joint venturebetween Stellar Pacific Ventures and its partner Ultragold Holdingbased in Denver, Colorado. The Balandougou property is located 100kilometres north of Siguiri in Upper Guinea at the Mali border. Itis comprised of four contiguous exploration licences that cover anextensive area of 606 km 2.
To date, and on the basis of gold in soil anomalies and extensivegeological observations of different artisan digging sites andfinally on the basis of full magnetic and radiometric coverage ofthe whole 606 km 2 of the Balandougou property, 16 000 metres of core and RC drillingwere done on the property. This work led to the discovery of 3extensive gold mineralized structures, namely, the Solotomo, B3 andB1 zones. Those three structures total 1,800 linear metres of goldmineralization and all three of them remain open in all directions. For references, the following tables list the most significantdrill intersections for zones B3 and B1: SOLOTOMO ZONE B-3 MOST SIGNIFICANT MINERALIZED DRILL INTERSECTIONS. I am a professional writer from Agriculture, which contains a great deal of information about ground flax seed , milled flax seed, welcome to visit!
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