Grande Portage Resources Ltd.: Land Position Increased-Overall Favourable Strike Length Now Exceeds 25 kms
Friday August 4, 8:00 am ET
Former Placer Dome Senior Geologist Appointed as Senior Advisor
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 4, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that as a result of its ongoing geological investigations at the Merry Widow massive sulphide project, the Company has staked an additional 5,210 hectares adding claims to the north and west, and optioning another 3,068 hectares adjoining further to the west. Adding to its previous land package owned or optioned, the total area now covers just over 19,000 hectares.
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Importantly, these latest acquisitions increase the overall strike length of the favourable Quatsino Limestone contained to greater than 25 kilometres and joins the claims with the magnetite rich massive sulphide skarn system on the Merry Widow with a similar magnetite rich skarn system to the west. All the massive sulphide mineralization located to date has been associated with the magnetite within the limestone. At the base of the Quatsino Section is the Old Sport Horizon, host to the former producing Coast Copper and Benson Lake Mines.
This mineralization occurs proximal to the intrusive stock, a similar mode of formation as the massive sulphide mineralization found at the Merry Widow and Kingfisher former open pit mines. With these latest additions, the Company's consulting geologists have recommended completion of the entire property with a helicopter airborne Mag and EM survey followed by detailed ground UTEM geophysical surveys. This will assist in defining new target areas for further diamond drilling.
With the expanding scope of the project, Grande Portage has retained Mr. Ignacije ("Rocky") Borovic, P.Eng., as a senior geological consultant to the project. Mr. Borovic has had a long and esteemed career in mineral exploration and is credited with the co-discovery and development of several mines and deposits during his decade long service with Placer Dome Ltd. His role will be to oversee all aspects of exploration and further development of the project drawing upon his years of experience and accomplishment.
The diamond drilling programme has proceeded well with 23 holes completed in and around the former producing Merry Widow pit and 2 holes completed on the Road Zone and I.P. geophysics targets. A 3rd hole has commenced on the I.P. targets from a second setup. Presently, split core for the first 15 holes are at ALS Chemex Labs in North Vancouver for analysis. Results from the first 4 complete holes are anticipated very soon followed by the next 4 holes shortly thereafter.
The core is cut in half with a diamond saw, with one half being placed in the core tray for future reference and study, and the other half being logged and labeled as a sample for direct transport to the laboratory by the geologist-in-charge. All samples are collected in accordance with industry standards. The sections of core with visible massive sulphides are fire assayed for gold, then the entire core is analyzed for 27 element I.C.P. plus gold. Any further gold sections discovered during I.C.P. greater than 250 ppb are then assayed, as well as copper greater than 1000 ppm, cobalt greater than 250 ppm, and silver greater than 10 ppm are also assayed. All sections reported will include the assays for all 4 elements.
The final airborne report is expected before the end of August at which time plans will be finalized for ground geophysics follow up and drilling.
The exploration program is being conducted under the direction of Warren Robb, P.Geo. and George Nicholson, P.Geo., both are qualified geologists as defined under National Instrument 43-101.
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. Robin Forshaw
Grande Portage Resources Ltd.
(604) 685-5851
www.grandeportage.com
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Source: Grande Portage Resources Ltd.
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