Grande Portage Resources Ltd.: More Than 30 Newly Discovered Near Surface High Priority Exploration Targets Identified
Future Drilling Plans Being Finalized
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 22, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce that following an initial review of silt geochemistry and airborne mag and EM geophysics, new exploration targets have been identified for future follow-up. Many of the new targets had been previously undetected and the initial success lends further credence to the prospective nature of the Merry Widow project near Port McNeill/Port Hardy on Vancouver Island, BC.
To date, almost 200 silt samples collected from drainages along accessible roads covering less than 20% of the Company's total acreage has yielded new areas of elevated copper-gold-cobalt assays. Of particular interest however are 2 distinct, strongly anomalous nickel-copper zones independent of any other known target areas. Each zone extends over 100 meters in width along the roads with the assay values received being generally 10 to 20 times above background values along with elevated trace elements of cobalt, chromium and manganese. The host rock in the specific area is a medium to coarse grained gabbro, a distinct segregation of the main Merry Widow intrusive stock. The Company is particularly excited about this area because while gabbroic stocks are known to host a significant number of nickel copper massive sulphide deposits worldwide, this style of mineralization has heretofore been unrecognized and undetected within this region and provides a potentially new exploration target worthy of further follow-up. As well, this style of target is known to possibly host platinum group elements which future assays will assess.
Of the recently completed airborne geophysics survey, a first pass evaluation has yielded over 30 high priority near surface EM targets. The majority of these are concentrated near the past producing open pit area, the focus of the initial 23 diamond drillholes, and by the past producing Benson Lake/Old Sport underground mines. The EM targets have confirmed the selection of drillhole sites but also extended the known strike length 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.
As well, the mag survey more accurately defined the Merry Widow intrusive stock, the probable heat source for the resultant massive sulphide skarn mineralization which is the Company's current exploration focus. It further indicated an extension to the geologically favorable Old Sport horizon extending from the former producing Benson River and Old Sport Mines for several kilometers to the south. This represents a major extension to the known strike length of the host rock.
This fall, geological field crews will gather more silt samples and add the values to the growing database and will also investigate the areas of anomalous values to determine the source mineralization. The Company is pleased to confirm that the diamond drill has been kept available for activity. A second round of strike extension and confirmation drilling beyond the Merry Widow/Kingfisher open pits will commence following receipt of drilling permits. The second phase will be in the order of 30 core holes and approximately 5000 meters. Another larger diamond drilling rig is being secured in order to assess the deeper mineralized strike extensions to the Old Sport horizon. As valuable information is still being obtained in this area, a second drill rig, should it be secured, would commence activity sometime following the resumption of drilling in the Merry Widow pit.
As the Company receives complete assay results for the remaining holes MW06-11 to MW06-27 they shall be released as previously announced. Lastly, now that a legal land surveyor has completed the drillhole collar location survey thus allowing for the precise location of past drillholes and establishing a benchmark for future work, the Company will publish these coordinates and map locations upon receipt of the report.
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 INFORMATION
Grande Portage Resources Ltd.
Mr. Robin Forshaw
(604) 685-5851
www.grandeportage.com
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