NEWS
September 29, 2006
Grande Portage Resources Announces Further Assay Results Bearing High Grade Values
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 29, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce additional assay results from the diamond drilling program at the Merry Widow Massive Sulphide Project on Vancouver Island, British Columbia.
Specific highlights of the drill results include:
MW06-15: 47.32 metres of 5.16 g/t gold, 23.48 g/t silver, 1.47% copper
- Including 1.19 metres of 47.4 g/t gold, 83 g/t silver,
4.83% copper
0.43 metres of 13.55 g/t gold, 291 g/t silver,
18.35% copper
1.11 metres of 55.50 g/t gold, 51 g/t silver,
2.53 % copper
MW06-16: 49.31 metres of 4.56 g/t gold, 18.73 g/t silver, 1.14% copper
- Including 1.0 metre of 11.4 g/t gold, 76 g/t silver,
4.69% copper
0.63 metres of 25.80 g/t gold, 33.0 g/t silver,
1.41% copper
0.81 metres of 13.85 g/t gold, 13 g/t silver,
0.61% copper
A summary of the drill hole locations and orientations with significant results of gold, silver and copper are displayed below in chart format.
Alistair MacLennan, chief executive officer remarked "We are extremely pleased with the assay results received thus far from our summer drill campaign at the Merry Widow. These results are significant and serve to confirm that we are taking the correct steps as we strive to enhance shareholder value."
All the 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.
Drill holes MW06-11,12,13 were drilled from a drill setup site located approximately 9 meters east from drill set up #1 (drill holes MW06-01,02,03,04). Drill hole MW06-14 was drilled approximately 22 meters from set up 3 (drill holes MW06-09, 10). Drill holes MW06-11, 12, 13 were infill holes to test the mineralization between drill site #1 and drill setup #3 while MW06-14 was a step out hole. All these holes were located on the access ramp to the Merry Widow open pit.
Drill holes MW06-15, 16 were drilled from the same drill site located on the 750m bench, approximately 30 meters north and 30 meters higher in elevation from drill holes MW06-07, 08 and were located to verify results obtained from diamond drilling in 1989 and 1990 by previous operators, to add to the geological database knowledge, and to provide drill core for metallurgical test work.
The drill core was analyzed by ALS Chemex Labs in North Vancouver, BC. The values displayed are weighted averages of the intersected zones and are not true widths, gold and silver values are reported in grams per tonne and copper is measured by percentage.
Note: where reported gold and silver values were less than 0.05 grams per tonne a value of 0.001 grams per tonne was used to calculate the weighted average of the interval reported, conversely if values of copper 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.
DDHMW06-11 site 4
Dip Angle -60 degrees
Azimuth 325 degrees
Total Depth 87.47 meters
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FROM TO INTERVAL Gold Silver Copper %
meters g/tonne g/tonne
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28.45 37.76 9.31 7.02 9.83 0.39
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Includes
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28.45 29.95 1.50 29.10 37.00 1.73
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54.86 71.74 16.88 1.21 3.46 0.22
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Includes
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67.66 68.68 1.02 6.65 17.00 1.01
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DDHMW06-12 site 4
Dip Angle -50 degrees
Azimuth 325 degrees
Total Depth 84.62 meters
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FROM TO INTERVAL Gold Silver Copper %
meters g/tonne g/tonne
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35.50 63.80 28.30 2.25 4.71 0.26
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includes
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37.13 38.13 1.00 8.96 3.10 0.09
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50.52 51.52 1.00 6.81 6.50 0.32
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DDHMW06-13 site 4
Dip Angle -60 degrees
Azimuth 325 degrees
Total Depth 87.47 meters
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FROM TO INTERVAL Gold Silver Copper %
meters g/tonne g/tonne
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34.54 40.75 6.21 1.12 5.90 0.38
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58.12 63.43 5.31 7.93 12.54 0.67
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Includes
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60.00 61.00 1.00 10.90 11.00 0.56
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DDHMW06-14 site 5
Dip Angle -40 degrees
Azimuth 323 degrees
Total Depth 96.62 meters
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FROM TO INTERVAL Gold Silver Copper %
meters g/tonne g/tonne
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35.84 40.19 4.35 7.40 5.82 0.17
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Includes
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38.00 39.10 1.10 18.70 14.00 0.67
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88.06 90.20 2.14 52.86 35.27 2.33
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Includes
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89.00 90.20 1.20 54.00 63.00 2.54
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DDHMW06-15 site 6
Dip Angle -50 degrees
Azimuth 303 degrees
Total Depth 118.67 meters
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FROM TO INTERVAL Gold Silver Copper %
meters g/tonne g/tonne
----------------------------------------------------
19.43 66.75 47.32 5.16 23.48 1.47
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includes
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33.90 34.33 0.43 13.55 291 18.35
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45.40 46.40 1.00 11.05 16.00 0.72
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60.15 61.34 1.19 47.4 83 4.83
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61.34 62.45 1.11 55.50 51.00 2.53
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DHMW06-16 site 6
Dip Angle -65 degrees
Azimuth 325 degrees
Total Depth 79.65 meters
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FROM TO INTERVAL Gold Silver Copper %
meters g/tonne g/tonne
----------------------------------------------------
23.69 73.00 49.31 4.56 18.73 1.14
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includes
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34.00 35.00 1.00 11.40 76.00 4.69
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53.58 54.19 0.81 13.85 13.00 0.61
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57.61 58.24 0.63 25.80 33.00 1.41
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65.50 66.17 1.17 1.17 19.00 0.86
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The Company is also pleased to announce that a series of new maps and claim outline have been prepared and later today will be available for viewing on the Company's website (www.grandeportage.com). These maps detail:
1. the new claim holdings at the Merry Widow Project;
2. the regional geochemical surveys for the elements gold, silver, copper, cobalt and iron;
3. the regional airborne geophysics;
4. the airborne EM geophysical targets generated by the recently completed survey; and
5. the diamond drill locations from the 2006 Phase 1 diamond drilling programs and the known historic mineral showings.
As more information is made available these maps will be updated and new ones will be generated.
New Director
The Company is pleased to announce that Mr. Harold Forzley, CA has joined the Board of Directors replacing Mr. Jim Williams effective immediately. Mr. Forzley earned a BA Commerce while attending at Simon Fraser University and a Chartered Accountant designation while employed at Thorne Riddell (now KPMG). After an eight year tenure with Thorne Riddell, Mr. Forzley spent the next 20 years building a variety of companies primarily in the mining sector. Most notably, Continental Gold Corp., which was sold to a major mining concern and El Condor Resources, also sold to an intermediate mining company with both companies generating substantial returns to their respective shareholders. Mr. Forzley has spent the past ten years in his own consultancy, providing financial/business advice to a variety of businesses and currently serves as President and CEO of Pacific Cascade Minerals Inc.
Lastly, the Company announces that, subject to regulatory approval, it has granted incentive stock options to various employees and consultants to purchase up to 1,000,000 common shares at an exercise price of $0.71 per share for a period of 5 years from date of grant.
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.
