Grande Portage Receives Drill Permit-28,000 Metre, Multi Drill Program Underway, Helicopter Airborne Mag and EM Survey Contract Signed
Friday March 2, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce the following:
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Drilling Update
The Company has received the necessary permits for a Phase II diamond drilling program on its Merry Widow Massive Sulphide project on Vancouver Island.
The permit allows for drilling of up to 60 (sixty) drill holes and will focus on intersecting and detailing mineralization hosted in the Old Sport Horizon. The Old Sport Horizon is a highly prospective mineralized zone occurring at the contact of the Quatsino Limestone and the Karmutsen volcanics along which diorite from the Coast Copper intrusive stock has intruded. Mineralization containing copper, gold, silver and iron has formed along this horizon.
Mining of the Old Sport Horizon spanned 10 years (1962 to 1972) and production stands at over 93 million pounds of copper, 1.1 billion pounds of iron ore, 126,407 ounces gold and 392,872 ounces of silver from 2.96 million tons of ore mined. Mining along the Old Sport Horizon stopped at the end of 1972 due only to the low price of copper.
The Company is mobilizing a second drill rig to conduct drilling on the Old Sport Horizon. Drill targets for the Old Sport Horizon have been defined from the tilt derivative of the total magnetic field data obtained from the airborne survey flown in 2006. This data outlined a broad zone exhibiting the same response which encompassed the Benson Lake and Old Sport mines and extends for some 3 kilometers along strike to the south. The company intends to drill test the entire 3 kilometer extension south of the Old Sport mine. Drilling proximal to Merry Widow Open Pit will recommence with the number 1 drill rig once snow levels have receded. The Company has contracted Westcore Drilling of Hope, B.C. to drill the approximately 28,000 metre program planned for the upcoming year. The core diameter will be NQ or BTW.
Airborne Contract
The Company has signed a contract with Aeroquest Limited of Milton, Ontario to conduct a Helicopter Airborne Magnetic & Time Domain EM Geophysical Survey on the Company's Merry Widow massive sulphide project on Vancouver Island, BC. The Survey will commence in mid April ,2007
A total of 1590 line kilometers plus tie lines are currently scheduled to be flown. The airborne survey will help to identify the northern contact of the Coast Copper Stock and the Quatsino limestone which hosts skarn mineralization. The survey will also test the northern extension of the Old Sport horizon which trends to the north-west towards Port Alice.
Last year's completed airborne geophysics survey, identified over 30 high priority near surface EM targets. The majority of these are concentrated near the past producing Merry Widow Open Pit area and by the past producing Benson Lake/Old Sport underground mines. The EM targets have aided in the selection of drillhole sites but has also extended the known strike length of the Merry Widow deposit by uncovering new targets along trend for several hundreds of meters and also reconfirming known historical showings. New areas were detected outside the historic workings particularly identifying a cluster of targets approximately 3 kilometers north-northwest of the open pit.
Warren Robb, P. Geo., and George Nicholson, P. Geo., are the qualified persons for this project, and have reviewed and verified the contents of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, President/CEO
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a mineral exploration and development company focused on massive sulphide exploration in British Columbia. Grande Portage is operated by experienced managers and professionals who have been effective in discovery, mine development, and mining operations throughout North and South America, Africa, Europe, and Central Asia.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". The Company intends that such forward-looking statements be subject to the safe harbours created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contact:
Mr. Ian Klassen
Grande Portage Resources Ltd.
(604) 290-5762
Website: www.grandeportage.com
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Source: Grande Portage Resources Ltd.
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