Grande Portage Announces Ongoing Drilling Resource Calculation Now Underway
VANCOUVER, BRITISH COLUMBIA, Mar 16, 2007 (CCNMatthews via COMTEX News Network) --
Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce the following:
28,000 Metre Drill Program Underway
The Company has commenced drilling at the Old Sport Horizon, a highly prospective mineralized zone occurring at the contact of the Quatsino Limestone and the Karmutsen volcanics along which primarily gabbro and diorite from the Coast Copper intrusive stock has intruded. Historically, significant mineralization containing recoverable copper, gold, silver, cobalt and iron has formed along this horizon.
The drill targets for the Old Sport Horizon were delineated from the tilt derivative of the total magnetic field data obtained from the airborne survey flown in 2006 as well as from examination of data from previous operators. This data outlined a broad zone exhibiting the same response as that which hosts the Benson Lake and Old Sport mines. This zone extends for some 7 kilometers along strike and is open ended. The Company has contracted Westcore Drilling of Hope, B.C. to drill 60 planned holes. The core diameter will be NQ or BTW. The Company expects to have the first assays from the Old Sport drilling in approximately 5 weeks.
Resource Estimate Calculation
The Company has retained the services of Giroux Consultants Ltd. to develop a resource tonnage estimate at the Merry Widow property.
Gary Giroux, Principal, graduated from the University of British Columbia in 1970 with a BASc. and 1984 with a MASc in Geological Engineering. He is a registered engineer with the Association of Professional Engineers and Geoscientists of the Province of British Columbia and a member of the Canadian Institute of Mining and Metallurgy.
Mr. Giroux has over 36 years of experience in all stages of mineral exploration, development and production. Mr. Giroux is an Independent Consultant, specializing in resource/reserve estimation, and has consulted both nationally and internationally in this field. He has authored papers on geostatistics and ore reserve estimation, has practiced as a Geological Engineer since 1970 and provided geostatistical services to the industry since 1976. Gary formed Giroux Consultants Ltd. in 1996.
Partial Assay Results
In addition to the previous holes announced from the follow up drill program on the Merry Widow property which included; MW06-31 grading 6.16 metres of 6.13 g/t gold, 5.80 g/t silver, 0.27% copper and MW06-35 grading 32.61 metres of 8.06 g/t gold, 9.95 g/t silver, 0.76% copper, the Company is pleased to report gold, silver, and copper results from the final nine holes of its twenty drill hole follow up drill program on the Merry Widow property conducted between Nov. 15 and Dec. 15th, 2006.
This second round of drilling was designed to test the northern extensions of the Merry Widow Open pit and to test for mineralization laterally towards the Raven Zone which is located approximately 150 meters northeast of the pit. The Merry Widow Open Pit intersections successfully stepped out from previous drilling and will be incorporated into a planned tonnage calculation.
Specific highlights of the drill results include:
MW06-42: 27.80 metres of 4.65 g/t gold, 7.88 g/t silver, 0.44% copper 16.90 metres of 0.96 g/t gold, 16.79 g/t silver, 0.84% copper MW06-43: 5.22 metres of 4.64 g/t gold, 9.95 g/t silver, 0.76% copper
Alistair MacLennan, CEO, remarked, "These results, in addition to those from the 2006 summer/winter programs, will now be compiled and calculated in terms of a resource tonnage estimate. We are delighted to work with Gary Giroux in this regard. He is well respected throughout this industry and is familiar with skarn mineralization. As we endeavor to further define a resource through our large drill program on the Old Sport, we will keep regular updates flowing to shareholders."
Drillhole 39 was an extremely important intersection as it successfully proved the lateral continuity of the massive sulphide mineralization between the Merry Widow and the Raven open pits. While no copper-gold values were obtained, this is not unusual as metal segregation occurs within this style of deposition. Further drilling will be done along strike and to depth to futher locate the base and precious metal sulphides within this system.
Since the Company is now expanding its exploration significantly, it has added the expertise of Mr. Wesley Raven, P.Geo., to its current group of geological consultants. Mr. Raven has 25 years experience in the mineral exploration industry working on a variety of deposit models through North and South America and Africa. His expertise and exploration guidance is most welcomed.
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 true widths are indeterminate at this time.
DDHMW06-39 624349 E, 5579878 N Angle -45 degrees Azimuth 000 degrees Total Depth: 169.77 metres
This hole was drilled to test the lateral extension of the Raven Zone identified in holes 29 & 30. Two zones hosting massive magnetite skarn mineralization were intersected from 42.10 to 67.64 meters and 86.96 to 97.80 meters. The zones returned 11.36% and 26.03% iron respectively, no significant values of copper or gold were returned.
DDHMW06-40 624349 E, 5579878 N Angle -55 degrees Azimuth 030 degrees Total Depth: 55.10 metres
Drilled to test the lateral extension of the Raven Zone. This hole was stopped due to bad ground conditions caused by a fault zone intersected from 47.85 to 53.95 metres.
DHMW06-41 624349 E, 5579878 N Angle -55 degrees Azimuth 030 degrees Total Depth: 130.15 metres
This hole did not intersect the Raven Zone. It cored mainly limestone and no significant values were returned.
Drill holes DDHMW06-42 TO DDHMW06-47 were all drilled vertically to supply infill data to supplement the data obtained from the first 27 holes drilled in the Merry Widow Open Pit during the summer of 2006.
DHMW06-42 (Drilled downdip of holes 15,16,17,18,21,22,23)624302E, 5579735NDip Angle -90 degreesAzimuth 000 degreesTotal Depth: 108.81 metres-------------------------------------------------------- INTERVAL Gold Silver Copper IronFROM TO meters g/tonne g/tonne % %--------------------------------------------------------43.26 71.06 27.80 4.65 7.88 0.44--------------------------------------------------------83.67 100.46 16.79 0.96 16.79 0.84--------------------------------------------------------20.23 73.00 52.77 16.82--------------------------------------------------------DHMW06-43 (ten meters east of hole 42)624314E,5579740NDip Angle -90 degreesAzimuth 000 degreesTotal Depth: 117.96 metres-------------------------------------------------------- INTERVAL Gold Silver Copper IronFROM TO meters g/tonne g/tonne % %--------------------------------------------------------43.00 48.52 5.22 4.64 4.36 0.13--------------------------------------------------------90.39 97.41 7.02 3.70 3.24 0.16--------------------------------------------------------0.50 13.03 12.53 26.55--------------------------------------------------------39.72 48.52 8.80 17.52--------------------------------------------------------88.89 98.57 9.68 16.78--------------------------------------------------------DHMW06-44 (drilled downdip of holes 1,2,3,4)624301E, 5579702NDip Angle -90 degreesAzimuth 000 degreesTotal Depth: 99.67 metres-------------------------------------------------------- INTERVAL Gold Silver Copper IronFROM TO meters g/tonne g/tonne % %--------------------------------------------------------23.58 26.25 2.67 5.02 6.07 0.32--------------------------------------------------------77.24 78.54 1.30 0.91 22.0 1.44--------------------------------------------------------0.78 55.08 54.30 17.35--------------------------------------------------------73.42 99.67 26.25 31.33--------------------------------------------------------DHMW06-45 (drilled downdip of holes 11 & 12)624312E, 5579703NDip Angle -90 degreesAzimuth 000 degreesTotal Depth: 108.81 metres-------------------------------------------------------- INTERVAL Gold Silver Copper IronFROM TO meters g/tonne g/tonne % %--------------------------------------------------------47.44 49.20 1.76 4.36 6.65 0.37--------------------------------------------------------0.00 61.50 61.50 22.42--------------------------------------------------------DDHMW06-46 (drilled downdip of holes 9 & 10)624319E, 5579708NDip Angle -90 degreesAzimuth 000 degreesTotal Depth: 114.91-------------------------------------------------------- INTERVAL Gold Silver Copper IronFROM TO meters g/tonne g/tonne % %--------------------------------------------------------40.88 43.50 2.62 6.70 5.60 0.20--------------------------------------------------------1.30 68.39 67.09 26.75--------------------------------------------------------DDHMW06-47 (drilled half way between holes 14 and 9 & 10)624326E, 5579714NDip Angle -90 degreesAzimuth 000 degreesTotal Depth: 121.01 metres-------------------------------------------------------- INTERVAL Gold Silver Copper IronFROM TO meters g/tonne g/tonne % %--------------------------------------------------------95.60 97.71 3.27 2.22 4.35 0.26--------------------------------------------------------0.00 99.71 99.71 23.64--------------------------------------------------------50.90 52.70 1.80 0.92 6.74 0.38--------------------------------------------------------
en 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. Ian Klassen (604) 290-5762 Website: www.grandeportage.com
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