Grande Portage Resources Ltd. Announces Summary of 2007 Diamond Drilling
VANCOUVER, Nov. 5, 2007 (Canada NewsWire via COMTEX News Network) --
Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce the following summary of it's 2007 diamond drilling program at the Merry Widow Massive Sulphide project on Vancouver Island, British Columbia. Weather permitting, the Company intends to drill up to three more Zones before the end of the calendar year.
<< Specific highlights of the drill program include: MW07-72: 8.16 metres of 5.82 g/t Au, 0.66 g/t Ag, 0.405% Co - Including: 4.5 metres of 9.25 g/t Au, 1.00 g/t Ag, 0.702% Co MW07-88: 10.24 metres of 4.01 g/t Au, 4.32 g/t Ag and 0.21% Cu - Including 1.94 metres grading 19.39 g/t Au, 18.92 g/t Ag and 0.93% Cu. Marten Zone A total of 24 holes (MW07-55 to MW07-78) totaling 1648.71 metres werecompleted on the Marten Zone. This Zone outcrops on surface south-west of theMerry Widow open pit and adjacent to the South Pit Zone. Massive sulphidesand/or mineralized skarn assemblages were intersected in every hole. Coppervalues were lower than those for the Merry Widow pit area, however, a numberof encouraging gold, silver and cobalt assays are reported in the table below.Only the more significant intercepts are reported. All holes had some valuesin gold, silver and copper. ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Co % Fe %. ------------------------------------------------------------------------- MW07-56 7.88 12.58 4.70 1.67 2.69 0.11 0.028 49.11 ------------------------------------------------------------------------- including 7.88 9.38 1.50 3.21 3.00 0.13 0.037 (greater than)50 ------------------------------------------------------------------------- MW07-58 5.07 7.07 2.00 0.26 13.50 1.34 0.010 6.16 ------------------------------------------------------------------------- MW07-59 9.93 11.36 1.43 4.40 4.10 0.17 0.108 46.84 ------------------------------------------------------------------------- MW07-60 11.58 12.30 0.72 2.25 4.60 0.23 0.059 45.60 ------------------------------------------------------------------------- MW07-60 16.55 20.07 3.52 2.03 7.90 0.42 0.071 48.00 ------------------------------------------------------------------------- including 16.55 18.01 1.46 2.72 12.00 0.64 0.059 (greater than)50 ------------------------------------------------------------------------- MW07-61 35.66 37.36 1.70 (less 8.90 0.61 0.003 7.41 than) 0.05 ------------------------------------------------------------------------- MW07-62 16.88 21.92 5.04 0.20 6.10 0.35 0.030 33.35 ------------------------------------------------------------------------- including 16.88 18.81 1.93 0.21 10.80 0.57 0.063 49.90 ------------------------------------------------------------------------- MW07-65 5.18 8.83 3.65 1.09 1.45 0.10 0.092 26.88 ------------------------------------------------------------------------- including 6.88 7.55 0.67 3.15 0.60 0.05 0.389 27.00 ------------------------------------------------------------------------- MW07-67 8.84 9.65 0.81 3.85 8.50 0.28 0.030 38.70 ------------------------------------------------------------------------- MW07-69 6.19 9.19 3.00 0.47 6.60 0.36 0.002 39.83 ------------------------------------------------------------------------- MW07-70 9.07 9.89 0.82 8.80 6.20 0.26 0.087 42.20 ------------------------------------------------------------------------- MW07-71 6.90 13.49 6.59 3.10 1.12 0.038 0.014 11.94 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Co % Fe %. ------------------------------------------------------------------------- including 9.90 11.98 2.08 8.21 2.74 0.039 0.017 14.19 ------------------------------------------------------------------------- MW07-71 37.40 40.40 3.00 2.88 7.80 0.38 0.016 (greater than)50 ------------------------------------------------------------------------- MW07-72 5.18 13.34 8.16 5.82 0.66 0.019 0.405 13.38 ------------------------------------------------------------------------- including 6.68 11.18 4.50 9.25 1.00 0.031 0.702 16.38 ------------------------------------------------------------------------- MW07-72 17.48 18.76 1.28 3.17 25.00 1.24 0.050 36.40 ------------------------------------------------------------------------- MW07-73 9.82 13.90 4.08 3.61 2.68 0.50 0.443 37.77 ------------------------------------------------------------------------- including 9.82 12.58 2.76 5.00 2.75 0.13 0.653 38.33 ------------------------------------------------------------------------- MW07-74 10.10 11.00 0.90 3.67 (less 0.002 0.137 (greater than) than)50 0.50 ------------------------------------------------------------------------- Merry Widow Pit Area Drilling Areas proximal to "Copper Knob" were tested for possible strike extensionsto the mineralization previously reported and included in the Company'srecently announced preliminary geological resource calculation. Seven holes(MW07-79, MW07-80 and MW07-86 to MW07-90) totaling 751.21 metres were drilledaround the Merry Widow open pit. Hole MW07-86 and MW07-89 were abandoned dueto technical difficulties at shallow ((less than)10 metres) depths downhole.Only holes MW07-80 and MW07-88 intersected significant mineralization with theresults shown in the table below. ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Co % Fe %. ------------------------------------------------------------------------- MW07-80 55.49 57.54 2.05 2.23 5.05 0.40 0.042 29.79 ------------------------------------------------------------------------- MW07-80 61.23 62.52 1.29 4.84 16.00 0.77 0.007 35.60 ------------------------------------------------------------------------- MW07-88 38.40 48.64 10.24 4.01 4.32 0.21 0.004 13.04 ------------------------------------------------------------------------- including 44.00 45.94 1.94 19.39 18.92 0.93 0.033 12.86 ------------------------------------------------------------------------- >>
South Pit Zone
This Zone lies between the Merry Widow open pit and the Marten Zone and is manifest on a cliff face in a dry streambed as a strong gossan with both massive sulphides and massive magnetite present. The Zone borders on the southern limit of old dump piles of waste material extracted from the Merry Widow pit.
The Company attempted to get a drill hole through to the target but was unsuccessful. A fault, overburden and buried dump material, not visible on surface, forced the abandonment of every hole prior to reaching the target. Five holes were collared to test the zone. The Company drilled holes MW07-81 to MW07-85 for a total of 110.32 metres. Holes MW07-85 and 85 were drilled to depth of approximately 37 metres and intersected local intervals of skarn in limestone. The remaining holes reached depths of 5-17 metres and no samples were collected from the intermixed volcanics and limestone units intersected in the holes. The Company intends on testing this target with a bigger drill and a larger core size to try and minimize the technical difficulties encountered.
Snowline Showing
Two holes were targeted to test this showing of massive magnetite exposed on a road cut to the south and east of the Martin Zone and north of the Bluebird and Bluebird 2 Zones. Holes MW07-91 and MW07-92 totaled 182.00 metres. Hole MW07-91 failed to intersect the target and drilled an alternating sequence of limestone and volcanic rocks with minor skarn intervals. Hole MW07-92 intersected weaker zones of wispy sulphide veinlets proximal to volcanic dykes cutting limestone.
Summary of Merry Widow Pit Area Drilling
The Company continues to be encouraged by the results to date from the Merry Widow Pit area. The Merry Widow open pit, Marten Zone, South Pit Zone, Bluebird Zone and Bluebird 2 Zones (the Bluebird Zones have not been drill tested) all lay along a visible general north-south trend. This trend is thought to represent a plumbing system for the mineralized solutions that formed the sulphide bodies at these respective zones. This concept has not been explored fully along strike or at depth nor has the south wall of the open pit been tested where strong magnetite mineralization is present. The trend from south of the open pit extends approximately 650 metres to the Bluebird showing.
So far, the Company has only conducted limited drill testing of the Marten zone which is approximately 200 metres south of the Merry Widow open pit. These targets are exposed on surface and all are accessible along active or decommissioned roads. Given their proximity to the Merry Widow open pit collectively these sulphide zones could be exploited in conjunction with the open pit if sufficient grade and tonnage can be developed. Other showings occur to the north of the Merry Widow open pit, along the same general north-south trend and have not been examined in detail as outcrop exposure is much poorer than that for the showings south of the open pit.
Old Sport Horizon
The Company drilled seven holes (MW07-48 to MW07-54) totaling 3870.03 metres to test this target. Of these holes MW07-50 and MW07-52 were abandoned in fault zones prior to reaching the Old Sport Horizon. In addition hole MW07-51 deviated greatly resulting in the hole missing the target. Hole MW07-53 intersected two zones of magnetite mineralization that are believed to represent the Old Sport Horizon; neither interval reported significant results. A summary of the intercepts is shown in the table below.
<< ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Fe % ------------------------------------------------------------------------- MW07-48 584.00 587.53 3.53 0.45 1.47 0.63 40.69 ------------------------------------------------------------------------- including 584.00 584.76 0.76 0.79 3.40 1.27 (greater than)50 ------------------------------------------------------------------------- MW07-49 518.62 527.3 8.68 0.19 2.60 0.50 6.42 ------------------------------------------------------------------------- MW07-49 558.97 560.6 1.63 0.35 1.80 0.81 3.10 ------------------------------------------------------------------------- including 560.05 560.6 0.55 0.89 4.90 2.04 7.76 ------------------------------------------------------------------------- MW07-50 hole abandoned in fault zone ------------------------------------------------------------------------- MW07-51 hole deviated and missed target ------------------------------------------------------------------------- MW07-52 hole abandoned in fault zone ------------------------------------------------------------------------- MW07-53 673.96 678.48 4.52 (less (less 0.012 34.12 than) than) 0.05 0.50 ------------------------------------------------------------------------- MW07-54 710.82 711.45 0.63 1.20 31.00 5.25 11.30 ------------------------------------------------------------------------- MW07-54 721.95 736.19 14.24 0.12 1.00 0.29 5.32 ------------------------------------------------------------------------- including 732.70 735.70 3.00 0.43 2.40 0.64 7.96 ------------------------------------------------------------------------- >>
The Company is in discussions to engage Geotech Ltd. to fly a VTEM airborne electromagnetic survey over the long magnetic lineament believed to represent the Old Sport Horizon. The purpose of the survey will be to define conductive zones within the magnetic anomaly that likely represent massive sulphide bodies prior to drilling further deep holes from surface.
The Company is in the process of investigating the feasibility of dewatering the underground workings to facilitate an evaluation of the remaining underground resource defined at the closure of the Benson Lake and Old Sport mines. Strike extension drilling of the Old Sport Horizon from underground would be considerably cheaper than from surface.
The Old Sport Horizon is a significant target for the Company with airborne geophysical magnetics data indicating a prospective horizon some 9.5 km long by up to 500 metres wide; the southern 4.0 km of this trend has never been drill tested.
Wesley Raven, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
About Grande Portage Resources Ltd.
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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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com
ON BEHALF OF THE BOARD OF DIRECTORS
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Alistair MacLennan, Chairman
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
<< THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE >>
SOURCE: Grande Portage Resources Ltd.
Mr. Ian Klassen, Phone: (604) 290-5762, Email: ian@grandeportage.com, Website: www.grandeportage.com
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