Stellar Pacific Ventures Inc. adds to Monster Lake Property in the
Chibougamau Mining Camp Quebec

MONTREAL, QC, Nov. 16 /CNW Telbec/ - Stellar Pacific Ventures Inc. ("Stellar" or the "Corporation") (TSX-V: SPX) is pleased to announce that it has signed a Letter of Intent to acquire a 100% interest of Property 325, adjacent to the company's Monster Lake Property in the Chibougamau Mining Camp, Northern Quebec.

Property 325 consists of two separate blocks totaling 36 mining cells covering 896 hectares in Rale Township, in Northern Quebec, Chibougamau Mining Camp, and 50 km south-west of the town of Chibougamau. The "Monster Lake Property" is located west of Joe Mann gold mine which has produced 1,253,869 ounces of gold since 1956 and is in the vicinity of the Philibert and Chevrier gold occurrences with reported gold resources of 1,4 Mt. at 5,4 g Au/t and 1.8 Mt at 5,1 gAu/t respectively.

The highlights of Property 325 are the presence of numerous gold occurrences namely, Showing 325 where a surface channel sample reported 12.77 g/t Au over 3.07 metres, Showing Trois Chemin which reported a surface channel sample grading 81.70 g/t Au over 1.0 metres and a drill intersection grading 1.28% Zn over 0.6 metres at Lac Irène.

Property 325 is considered to be an important addition to the Monster Lake Property which constitutes the heart of the former SOQUEM FANCAMP PROJECT. The property covers an extensive 3,342 hectares (33.4 Km2) along a gold corridor outlined by Soquem's work. The Monster Lake Property includes all of the Structure 52, Structure 45, Structure Nouvelle and Structure Eratix discovered by Soquem.

    The highlights of the company's MONSTER LAKE PROPERTY are:

    - A well documented project, developed by SOQUEM from 1985 to 1995
    - SOQUEM partially outlined and described a gold mineralized corridor
      oriented NE/SW over a distance of more than 12 km and identified within
      the limit of company's property four (4) gold mineralized structures
      namely, the Structure 52, 45, Nouvelles and Eratix, all showing
      impressive gold content drill intersections, namely:
      - 6.10 g Au/ 5.1 m on structure 52
      - 14.7 g Au/4.5 m and 5.05 g Au/ 2.9 m. at Annie showing on Structure
      - 2.09 g Au / 3.2 m. at Structure 45
      - 12.16 g Au / 1.85 m. at Eratix structure

    - More than 12 gold occurrences were identified by showing and trenching
      along the gold corridor within the limits of Monster Lake Property.
    - More than 40 drill intersections grading over 1,0 g/t Au.
    - Most of gold occurrences remains open laterally and vertically.

    A location map of Monster Lake Property as well as a primary compilation
    map can be seen on the following links:

The property is accessible year round from Chibougamau by a major lumber road and by secondary lumber road that crosses the property. The property is a 30 minute drive from the Chibougamau regional airport which has flights daily from Montreal.

Stellar Pacific ventures can earn 100% of Property 325 by paying the vendor $60,000 and by issuing up to 435,000 shares over a period of 24 months. Stellar must also incur $175,000 of exploration work over two years.

About Stellar Pacific Ventures

Stellar Pacific Ventures (TSX-V: SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Canada and Africa. The management of the company intends to re-organize the company's portfolio of gold properties and be active in Canada and abroad. There are currently 24,955,701 common shares outstanding.

Stellar is dedicated to creating wealth by discovering and mining the earth's resources in an efficient and environmentally responsible manner.

The technical content of this press release have been reviewed and approved by M. Maurice Giroux, a qualified person as defined in NI 43-101 regulation. All reported gold intersections mentioned in this press release are considered historical as per definition in National Instrument 43-101.

    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.


For further information: For further information: M. Raymond Cloutier, (514) 866-6299,

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890