UPDATE: Stellar Pacific Ventures Samples 43.4 g Au/t at Kandane Artisan Mine Site Mali; Shares Up 66%

By Midnight Trader,  January 08, 2013, 12:15:52 PM EDT

Stellar Pacific Ventures Inc. (SPX.V) reports 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 sq km.

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. Four (4) significant gold values were obtained, including 48.4 g Au/t obtained from an oxidized and brachiated quartz vein.

Stellar Pacific is up 1 cent to 2.5 cents at midday. Close to 1.5 million shares have been traded.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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