Southern Cross Gold Consolidated Ltd. press release
Stellar cut 60.4 g/t and announces excellent drill results on Vassan property
TSX - Toronto Stock Exchange · Australia
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.
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
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