Grande Portage Resources Ltd.: High Grade Gold Values Incorporated Into Substantially Longer Widths With Inclusion of Silver and Base Metals-Further Results Received
VANCOUVER, BRITISH COLUMBIA, Sep 12, 2006 (CCNMatthews via COMTEX News Network) --
Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce that with the inclusion of final assay results for the silver and base metals recently received from Chemex Labs, it has substantially extended the length of drill core intersections at the Merry Widow project on Vancouver Island, BC.
Several zones in each hole enriched in silver, copper, and cobalt occur between previously reported higher grade gold intersections all within the central skarn and massive sulphide mineralization. Also, for the first time the Company is reporting the iron content as the Merry Widow open pit was previously mined for magnetite. While all the sulphides contain a certain amount of iron and may not be recoverable, a majority of the drill hole intersections contain appreciable amounts of magnetite which may be recoverable and has important industrial applications. Combined, the longer intersections and possible magnetite recovery can change the dynamics and scope of the ongoing exploration programs and geological modeling.
Holes MW06-05 to MW06-08 were drilled from the same setup site located along the access ramp to the Merry Widow open pit. Drill holes MW06-05 and MW06-06 were located to verify results obtained from diamond drilling in 1989 and 1990 by previous operators; drill holes MW06-07 and MW06-08 were new holes drilled parallel to drill holes MW06-02, 03, 04 (which were reported in the company's news release of August 29, 2006) to add to the geological database knowledge, and to provide drill core for metallurgical test work.
These four drill holes successfully intersected skarn mineralization and massive sulphides containing visible pyrrhotite, pyrite and chalcopyrite hosted in either massive magnetite or epidote-garnet-actinolite skarn assemblages.
Significant values were obtained from all four holes. For the following intercepts the Company has included the calculated weighted average for gold which were extended to coincide more accurately with the silver, copper, cobalt and iron assay values; DDHMW06-05 which intersected 71.21 meters with a weighted average of 1.80 grams per tonne gold, 5.93 grams per tonne silver, 0.35 percent copper, 0.012 percent cobalt and 30.96 percent iron (includes 19.25 grams per tonne gold, 18.00 grams per tonne silver, 0.70 percent copper, 0.019 percent cobalt over 0.63 meters, 16.90 grams per tonne gold, 10.00 grams per tonne silver, 0.31 percent copper, 0.058 percent cobalt over 1.10 meters, 11.95 grams per tonne gold, 12.00 grams per tonne silver, 0.51 percent copper and 0.012 percent cobalt over 1.00 meters, 17.90 grams per tonne gold, 155.00 grams per tonne silver, 9.8 percent copper and 0.026 percent cobalt over 1.25 meters), DDHMW06-06 which intersected 33.30 meters with a weighted average of 1.87 grams per tonne gold, 4.89 grams per tonne silver, 0.33 percent copper, 0.005 percent cobalt and 22.13 percent iron (includes 8.76 grams per tonne gold, 24.4 grams per tonne silver, 1.45 percent copper and 0.02 percent cobalt over 5.00 meters, 9.00 grams per tonne gold, 8.3 grams per tonne silver, 0.43 percent copper and 0.011 percent cobalt over 1.00 meters) DDHMW06-07 which intersected 99.55 meters with a weighted average of 2.81 grams per tonne gold, 4.96 grams per tonne silver, 0.28 percent copper, 0.008 percent cobalt and 19.44 percent iron (includes 6.53 grams per tonne gold, 11.30 grams per tonne silver, 0.62 percent copper and 0.016 percent cobalt and 22.72 percent iron over 40.95 meters), DDHMW06-08 which intersected 85.95 meters with a weighted average of 3.83 grams per tonne gold, 4.94 grams per tonne silver, 0.26 percent copper, 0.016 percent cobalt and 14.24 percent iron (includes 5.22 grams per tonne gold, 6.66 grams per tonne silver, 0.33 percent copper, 0.018 percent cobalt and 17.85 percent iron over 63.02 meters).
Additional Drill Hole Results
The Company is pleased to report gold, silver, copper, cobalt and iron assay results from drill holes MW06-09 and MW06-10. These holes were drilled from the same drill setup site located approximately 20 meters east from drill set up #1 (drill holes MW06-01, 02, 03, 04) on the access ramp to the Merry Widow open pit.
All of these drill holes successfully intersected massive sulphide skarn mineralization containing visible pyrrhotite, pyrite and chalcopyrite hosted in either massive magnetite or epidote-garnet-actinolite skarn assemblages. Significant gold results were obtained from DDHMW06-09 which intersected 34.24 meters with a weighted average of 5.06 grams per tonne gold, 9.61 grams per tonne silver, 0.51 percent copper, 0.0063 percent cobalt and 23.83 percent iron (includes 29.50 grams per tonne gold, 41 grams per tonne silver, 1.77 per cent copper, 0.0159 percent cobalt and 43.70 percent iron over 0.72 meters, 36.00 grams per tonne gold, 26 grams per tonne silver, 1.08 percent copper, 0.56 percent cobalt and 38.0 percent iron over 1.00 meters and 10.80 grams per tonne gold, 50 grams per tonne silver, 2.90 percent copper, 0.0147 per cent cobalt and 32.80 percent iron over 1.29 meters, 19.40 grams per tonne gold, 17 grams per tonne silver, 0.76 percent copper, 0.015 percent cobalt and 40.00 percent iron over 1.30 meters) and from DDHMW06-10 which intersected 37.75 meters with a weighted average of 3.03 grams per tonne gold, 4.28 grams per tonne silver, 0.20 percent copper, 0.0036 percent cobalt and 11.89 percent iron (includes 13.56 meters with a weighted average of 7.92 grams per tonne gold, 6.0 grams per tonne silver, 0.27 percent copper, includes 17.85 grams per tonne gold, 34.0 grams per tonne silver, 1.38 percent copper, 0.067 percent cobalt and greater than 50% iron over 0.54 meters, 41.20 grams per tonne gold, 36.00 grams per tonne silver, 1.47 percent copper, 0.067 percent cobalt and 50 percent iron over 0.73 meters and 20.20 grams per tonne gold, 7 grams per tonne silver, 0.34 percent copper, 0.0200 percent cobalt and greater than 50 percent iron over 0.98 meters and 19.90 grams per tonne gold, 6.40 grams per tonne silver, 0.25 percent copper, 0.0242 percent cobalt and 43.80 percent iron over 0.74 meters).
A summary of the drill hole locations and orientations with significant results of gold are displayed below. The drill core was analyzed by ALS Chemex, the values displayed are weighted averages of the intersected zones and are not true widths, gold is reported in grams per tonne. Note where reported gold and silver values were less than 0.05 grams per tonne a value of 0.01 grams per tonne was used to calculate the weighted average of the interval reported, conversely if values of copper and cobalt were below threshold as established by the company then the values were divided by 10,000 and expressed in per cent (%), individual intercepts are assay values over the sample interval as reported.
The Company has established threshold values geochemically for silver greater than 10 ppm, copper greater than 1000 ppm and cobalt greater than 500 ppm in which any value received above this will be analyzed by fire assay. This has created a slowdown in receipt of assay results because there were multiple intersections reporting above threshold in silver, copper and cobalt.
Complete Assay values for the next drill holes are anticipated soon and will be reported when they have been tabulated and reviewed by management.
The Company consultants have recommended that a legal surveyor be engaged to provide precise UTM coordinates for the drill collar locations. The survey is expected to be completed shortly and will allow the company to report exact drill site locations. Earlier attempts in the field with handheld GPS units gave inaccuracies at times greater than 5 meters from day earlier readings. Upon receipt of the survey information, all drill hole locations will be provided on plan maps showing relations to former open pits, adits, roads and water courses.
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.
SOURCE: Grande Portage Resources Ltd.
Grande Portage Resources Ltd. Mr. Robin Forshaw (604) 685-5851 www.grandeportage.com
