September 26, 2012 at 10:30 AM EDT
Stellar Pacific Ventures Inc: RC Drilling Extends B1 Zone for 400 Metres and B3 Zone Towards the South-East for 100 Metres

MONTREAL, QUEBEC--(Marketwire - Sept. 26, 2012) - 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

/T/

-------------------------------------------------------------

HOLE # FROM TO INTERSECTION

-------------------------------------------------------------

(m) (m) (gr Au/t/m)

-------------------------------------------------------------

B1-11-04 0 29 0.90 gr Au/t/30 m

-------------------------------------------------------------

B1-11-05 0 66 0.58 gr Au/t/66 m

-------------------------------------------------------------

B1-11-06 0 66 0.28 gr Au/t/66 m

-------------------------------------------------------------

B1-11-09 42 44 5.25 gr Au/t/2 m

-------------------------------------------------------------

B1-11-10 6 8 2.46 gr Au/t/2 m

56 60 0.5 gr Au/t/4 m

-------------------------------------------------------------

B1-11-11 10 16 1.0 gr Au/t/6 m

52 62 1.46 gr Au/t/10 m

-------------------------------------------------------------

B1-11-12 1 48 1.64gr Au/t/47 m

Incl. 13 28 3.15 gr Au/t/15 m

-------------------------------------------------------------

B1-11-13 0 5 0.92 gr Au/t/5 m

-------------------------------------------------------------

B1-11-20 0 4 0.98 gr Au/t/4 m

-------------------------------------------------------------

B1-11-21 25 26 1.29 gr Au/t/1 m

36 45 1.0 gr Au/t/9 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

-------------------------------------------------------------

/T/

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:

/T/

-------------------------------------------------------------

HOLE # FROM TO INTERSECTION

-------------------------------------------------------------

(m) (m) (gr Au/t/m)

-------------------------------------------------------------

B3-12-05 42 44 1.73 gr Au/t/ 2 m

44 46 0.47 gr Au/t/ 2 m

52 54 0.96 gr Au/t/ 2 m

54 56 1.18 gr Au/t/ 2 m

62 64 1.24 gr Au/t/ 2 m

-------------------------------------------------------------

/T/

For references. the following table list the best RC intersection on the B3 zone so far:

BEST RC DRILL INTERSECTION ON B3 ZONE

/T/

-------------------------------------------------------------

Hole# from to INTERSECTION

-------------------------------------------------------------

(m) (m) (gr Au/t/m)

-------------------------------------------------------------

B3-11-02 1 3 1.24 gr Au/t/2 m

-------------------------------------------------------------

B3-11-05 39 59 2.0 gr Au/t/19 m

-------------------------------------------------------------

Incl. 40 46 3.44 gr Au/t/6 m

-------------------------------------------------------------

B3-11-06 44 47 2.48 gr Au/t/3 m

-------------------------------------------------------------

Incl. 45 46 6.79 gr Au/t/1 m

-------------------------------------------------------------

B3-11-08 0 12 2.27 gr Au/t/12 m

-------------------------------------------------------------

Incl. 0 5 3.10 gr Au/t/5 m

-------------------------------------------------------------

9 10 6.44 gr Au/t/1 m

-------------------------------------------------------------

B3-11-09 0 8 1.26 gr Au/t/8 m

-------------------------------------------------------------

Incl. 3 4 5.48 gr Au/t/1 m

-------------------------------------------------------------

7 8 3.32 gr Au/t/1 m

-------------------------------------------------------------

B3-11-12 1 30 1.15 gr Au/t/29 m

-------------------------------------------------------------

Incl. 24 29 2.5 gr Au/t/5 m

-------------------------------------------------------------

B3-11-13 0 10 0.89 gr Au/t/10 m

-------------------------------------------------------------

Incl. 9 10 3.55 gr Au/t/1 m

-------------------------------------------------------------

B3-11-14 5 6 2.83 gr Au/t/1 m

-------------------------------------------------------------

33 34 1.52 gr Au/t/1 m

-------------------------------------------------------------

B3-11-18 3 9 2.20 gr Au/t/6 m

-------------------------------------------------------------

B3-11-21 11 12 1.89 gr Au/t/6 m

-------------------------------------------------------------

B3-11-22 33 37 1.13 gr Au/t/4 m

-------------------------------------------------------------

53 64 1.27 gr Au/t/12 m

-------------------------------------------------------------

Incl. 60 61 9.97 gr Au/t/1 m

-------------------------------------------------------------

B-2 23 7 22 1.63 gr Au/t/15 m

-------------------------------------------------------------

Incl. 11 16 2.82 gr Au/t/5 m

-------------------------------------------------------------

B3-11-24 0 4 4.22 gr Au/t/4 m

-------------------------------------------------------------

Incl. 0 1 15.8 gr Au/t/1 m

-------------------------------------------------------------

40 43 1.50 gr Au/t/3 m

-------------------------------------------------------------

B3-11-26 0 35 1.47 gr Au/t/35 m

-------------------------------------------------------------

Incl. 9 11 2.52 gr Au/t/2 m

-------------------------------------------------------------

17 24 2.72 gr Au/t/7 m

-------------------------------------------------------------

28 30 4.09 gr Au/t/2 m

-------------------------------------------------------------

33 35 5.16 gr Au/t/2 m

-------------------------------------------------------------

55 58 5.35 gr Au/t/2 m

-------------------------------------------------------------

B3-11-27 16 26 2.0 gr Au/t/10 m

-------------------------------------------------------------

Incl. 22 26 4.24 gr Au/t/4 m

-------------------------------------------------------------

B3-11-30 9 23 2.76 gr Au/t/14 m

-------------------------------------------------------------

Incl. 9 12 5.0 gr Au/t/3 m

-------------------------------------------------------------

16 20 4.54 gr Au/t/4 m

-------------------------------------------------------------

56 61 3.51 gr Au/t/5 m

-------------------------------------------------------------

B3-11-31 36 43 4.1 gr Au/t/7 m

-------------------------------------------------------------

52 53 16.5 gr Au/t/1 m

-------------------------------------------------------------

56 57 7.13 gr Au/t/1 m

-------------------------------------------------------------

63 66 3.04 gr Au/t/3 m

-------------------------------------------------------------

B3-11-33 12 21 4.41 gr Au/t/9 m

-------------------------------------------------------------

Incl. 14 17 6.0 gr Au/t/3 m

-------------------------------------------------------------

B3-11-36 27 29 1.23 gr Au/t/2 m

-------------------------------------------------------------

B3-11-43 18 19 2.61 gr Au/t/1 m

-------------------------------------------------------------

B3-12-05 42 44 1.73 gr Au/t/ 2 m

44 46 0.47 gr Au/t/ 2 m

52 54 0.96 gr Au/t/ 2 m

54 56 1.18 gr Au/t/ 2 m

62 64 1.24 gr Au/t/ 2 m

-------------------------------------------------------------

/T/

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.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here