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Projects: Vassan Gold Project |
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Stellar Pacific Ventures (SPX) has an agreement which enables the company to earn a 51% interest in the Vassan property located within the Val d'Or mining camp. The company can earn its interest by issuing 600,000 of its share capital over a period of three years, including 200,000 shares upon signing of the agreement, and completing $1,000,000 in exploration work over that same period.
The property, which consists of 7 claims totalling 280 hectares in range 2 of Vassan Township, is strategically located near several present and past producers including the Siscoe mine, directly to the south of the property, the Kiena mine, located 5 km to the south-west of the property and the Sullivan mine, located 3.5 km to the south-east of the property and finally the Wesdome development project located some 3 km to the west of the project. The main interest of the property consists in an extensive gold-copper bearing quartz-sulphide vein structure called the Hamelin Zone. Within the past twenty years, numerous holes have been drilled on this prospect but it's only in the past few years that the mineralizing system has been understood.
So far, over twenty drill holes have intersected the structure which can be traced laterally for over 300 meters and vertically for 500 meters. The latter remains open in all directions. The structure consists of an east-west striking sub-vertically dipping, quartz vein (locally two), hosting massive to semi-massive sulphides (pyrrhotite, pyrite, and chalcopyrite). Gold grades are almost proportional to the sulphide content. Massive sulphides will usually return around 30 g/t Au and between 0.1 and 2% Cu. The thickness of the structure averages about 1 metre. The structure is being interpreted as a tension fracture within mafic volcanic units as only minor shearing and alteration are usually observed. Two significant gold intersections have also been obtained in 1998 in ultramafic rocks at depth of over 400 metres, within the same structure system. No follow up was done.
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| Holes |
From |
To |
Length(m) |
Au g/t |
Cu % |
| AB-97-07 |
167.70 |
168.00 |
0.30 |
50.47 |
2.28 |
| AB-97-10 |
161.00 |
163.50 |
2.50 |
12.89 |
0.85 |
| AB-97-12 |
136.30 |
137.50 |
1.20 |
12.38 |
0.19 |
| AB-97-14 |
166.23 |
167.10 |
0.87 |
10.74 |
1.63 |
| AB-97-18 |
311.70 |
312.33 |
0.63 |
14.56 |
1.35 |
| AB-97-19 |
294.00 |
395.23 |
1.23 |
12.39 |
0.99 |
| AB-97-20 |
233.40 |
234.50 |
1.10 |
14.02 |
0.21 |
| AB-97-21 |
273.10 |
273.80 |
0.70 |
10.73 |
0.24 |
| AB-97-23 |
437.48 |
438.00 |
0.52 |
23.75 |
0.55 |
| AB-98-01 |
445.60 |
446.60 |
1.00 |
16.40 |
0.42 |
| AB-98-01 |
522.30 |
523.40 |
1.10 |
7.55 |
0.52 |
| AB2002-01 |
219.07 |
219.56 |
0.49 |
33.19 |
0.65 |
| AB2002-07 |
271.20 |
271.80 |
0.60 |
15.04 |
0.66 |
| AB2002-08 |
294.00 |
294.50 |
0.50 |
13.26 |
0.23 |
| AB2002-11 |
237.00 |
238.86 |
1.86 |
12.09 |
0.13 |
| C-1 (2003) |
296.27 |
297.5 |
1.23 |
6.40 |
No Assay |
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This is a very exciting project with numerous ore grade intersections, most of the latter being located within a single continuous structure. The company intends to initiate a drilling program consisting of a minimum of 1,300 meters (4 drill holes) aiming at better defining the center of the known structure between the 200 and 300 meters levels. This program, which will be supervised by Pierre O'Dowd, Professional Geologist and Qualified Person as per NI 43-101, should be carried out during the months of October and November.
Samples from Noveder (1997 and 1998) and Atlantis Exploration's programs (2002) were prepared and assayed at Bondar Clegg Chimitec laboratory of Val d'Or while samples from the Provenor's 2003 drilling program were assayed at the Bourlamarque laboratory in Val d'Or.
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