Mr. Zen
16 years ago
Chairman's Letter to Shareholders - Grande Portage Resources Ltd. (TSX.v: GPG)
VANCOUVER, Jan. 7, 2008 (Canada NewsWire via COMTEX News Network) --
January, 2008
To Shareholders of Grande Portage Resources Ltd.,
This past year had its challenges for the junior mineral exploration sector. It was a difficult year for us as shareholders. However, over the course of the past year, Grande Portage Resources Ltd. remained focused and diligent as we further explored our highly promising property portfolio on Vancouver Island, B.C.
The Company was very active drill testing key "near surface" mineralization showings at and near the Merry Widow open pit. We worked towards establishing a solid platform for growth by drill testing many showings, broadening our base with highly promising exploration properties and commissioning an initial NI 43-101 compliant resource estimate for the Merry Widow open pit area, supported by a strong, experienced senior operational team.
<< Highlights for shareholders include; - Large commodity portfolio focused on gold and base metals - Well financed treasury totaling $5.6 million - Geophysical data indicates an intrusive body almost 10 km in diameter (Merry Widow) with potential for the formation of additional bodies of skarn mineralization anywhere the intrusive contacts the Quatsino limestone, on both the east and west sides of Merry Widow Mountain. - Geophysical data indicates a geological trend almost 9km long (Old Sport Horizon) - Initial Resource Estimate delivered for Merry Widow open pit area - Underground exploration activity to commence in 2008 - Multiple drill programs planned for early 2008 - Strong technical and financial management team in Canada - Large land package with favourable geology leading to the possibility of further discoveries. The year ahead will be an active one. We will focus on: 1. Enhancing the initial resource calculation by in-fill drilling at the Merry Widow pit and from metallurgical testing of selected samples to determine metal recoveries from various styles of mineralization. The company plans to test the area from Merry Widow open pit to the South Pit Zone, the South Pit Zone, southward extensions from the Martin Zone to the Bluebird 2 Zone and the Bluebird 2 Zone itself Surface grab samples collected from the South Pit Zone returned up to 9.73g/t gold, 11.4 g/t silver, 0.225% copper and 0.172% cobalt. Surface samples collected from the Bluebird 2 Zone assayed up to 7.88 g/t gold, 6.6g/t silver, 0.597% copper and 0.115% cobalt. 2. Explore the highly prospective Old Sport Horizon which was the host rock for two former producing underground mines-Coast Copper and Benson Lake. The mines produced appreciable amounts of copper, gold, silver, cobalt and iron over almost a decade before closing in late 1972 due largely to the low commodity prices at the time. Airborne magnetic data has greatly helped to define the geological trend and related mineral showings and further associated copper-gold-cobalt- iron targets. In addition the Company intends on completing the airborne VTEM survey by Geotech over the Old Sport Horizon that was scheduled for 2007 but was not completed due to time constraints by Geotech. This survey has a deeper penetrating electromagnetic (EM) system than previously used that should aid in defining EM conductors including sulphide bodies within the large magnetic trend that represents the Old Sport Horizon. This survey will help provide information on areas well south of the underground workings. The Company's geological team has had the benefit of reviewing the underground data provided by former operators. As such, there is tremendous focus and enthusiasm surrounding this next phase of exploration aimed at accessing the Old Sport from an underground perspective. 3. Prospect and map several areas throughout the property where there are coincident magnetic and electromagnetic anomalies defined by the Aeroquest airborne geophysical surveys flown in both 2006 and 2007. Follow-up prospecting is also warranted on several creeks that reported anomalous precious and/or base metal anomalies from previous soil and silt sampling surveys conducted on the claims. 4. Drill test the Lac Truite Nickel-Copper Prospect where a 3-D IP survey outlined two semi-circular conductive bodies with corresponding zones of resistivity in the northern and southern portions of the grid that coalesce into a 500 metre to 800 metre wide (east-west) by 2000 metres long (north-south) chargeable body that is evident at surface and to 400 metres below surface, the depth limit of the survey. The conductor is still open to depth to the north and south-southeast. Contingent upon drilling success, IP surveys will be expanded to fully delineate the conductors. 5. Further explore with ground geophysics and geophysical surveys and drill test the Pass Property near Smithers, BC. Previous surface sampling and trenching returned precious metal values of up to 42.76 g/t gold and 118.7 g/t silver from 1.0 metres chip samples while previous grab samples returned base metal values up to 9.12% zinc, 14.18% lead and approximately 1% copper. 6. Drill test the Scrutor Claims which cover 2,050 hectares and are located 30km east-southeast of the Merry Widow pit. This is another precious and base metals rich massive sulphide prospect. Activities in 2007 successfully expanded the known showings and an evaluation of the sample results in conjunction with the airborne geophysical magnetic and electromagnetic surveys have formed the basis for priority diamond drilling. >>
The Company continues to receive and review new mineral projects which may yield additional value to shareholders. The focus would still primarily be a project yielding both precious and base metals values with substantial size potential. I look forward to this year with great confidence.
We intend to develop your company and deliver value to our shareholders. Our end objective is to discover an economic mineral deposit. We have been very fortunate to acquire a sizeable property portfolio upon which 3 former mines have been discovered and exploited. We are well financed as we enter 2008 with $5.6 million. Our team has more than 150 years of combined exploration and business experience. I am confident that 2008 will be a productive and meaningful year for shareholders.
On behalf of the Board of Directors,
Alistair MacLennan
Alistair MacLennan, Chairman of the Board
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release.
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
SOURCE: Grande Portage Resources Ltd.
Ian Klassen, at (604) 899-0106, or fax (604) 684-5793, or by email ian@grandeportage.com, or visit the Company's web site at http://www.grandeportage.com
Copyright (C) 2008 CNW Group. All rights reserved.
Mr. Zen
16 years ago
Grande Portage Resources Ltd. Confirms Successful Trip To Former Underground Mines
VANCOUVER, Nov. 8, 2007 (Canada NewsWire via COMTEX News Network) --
Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce that it had a very successful property visit to the underground workings of the Old Sport Horizon with senior underground and environmental specialists from Wardrop Engineering Ltd. The Old Sport Horizon was the host rock for two former producing underground mines - Coast Copper and Benson Lake.
Wardrop officials spent time inspecting the underground decline and gathered numerous water samples. Samples related to the Old Sport Horizon include 2 samples from the underground workings, 1 sample from the 5549 adit, and 2 samples from the Benson River; upstream and downstream of the mine workings. Additional samples from the area include 1 from the Merry Widow open pit, 1 from the Kingfisher pit, 1 and 1 from a creek that transects the Bluebird 1 and Bluebird 2 zones. The samples will be tested for acidity and suspended metals content as preliminary steps towards the Company's goal of obtaining a permit to dewater the underground workings and evaluate both the existing resource and to explore for strike extensions of the Old Sport Horizon. The samples from outside the underground workings will form part of the overall baseline environmental studies. The samples are being submitted to the laboratory for analysis. Results are expected next week.
The accessible portion of the underground workings are in very good conditions despite sitting idle since the early 1970's. There was no timbering present on the level visited, the back and walls were sound with good ground conditions. The excellent conditions of the workings will facilitate easy access for dewatering and subsequent evaluation of the remaining mineralization.
Grande Portage has been exploring the Merry Widow project under the premise that there exists significant remaining tonnage at the old open pits peripheral to the magnetite zones and in the Old Sport Horizon either along strike extensions or within the old workings. Substantial amounts of mineralized skarn material remain untested.
Wesley Raven, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com
ON BEHALF OF THE BOARD OF DIRECTORS
------------------------------------
Alistair MacLennan, Chairman
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.
SOURCE: Grande Portage Resources Ltd.
Mr. Ian Klassen, Phone: (604) 290-5762, Email: ian@grandeportage.com, Website: www.grandeportage.com
Copyright (C) 2007 CNW Group. All rights reserved.
Mr. Zen
16 years ago
Grande Portage Resources Ltd. To Explore Former Underground Mines
VANCOUVER, Nov. 6, 2007 (Canada NewsWire via COMTEX News Network) --
Wardrop Engineering Inc. to Develop Strategic Plan
Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce that it has engaged Wardrop Engineering Ltd. to assist with the evaluation of environmental conditions at the Merry Widow open pit as well as the former underground workings of the Old Sport Horizon. Company representatives will be onsite with senior underground and environmental specialists from Wardrop this week.
The Old Sport Horizon was the host rock for two former producing underground mines - Coast Copper and Benson Lake. The mines produced appreciable amounts of copper, gold, silver, cobalt and iron over almost a decade before closing in late 1972 due largely to the low commodity prices at the time. From 1960-1973 these mines processed 2,621,131 tonnes of ore that yielded 90,814,161 lb of copper, 377,165 oz of silver, 124,386 oz of gold and 507,207 tonnes of iron. Airborne magnetic data has greatly helped to define the geological trend and related mineral showings and further associated copper-gold-cobalt targets.
The Company's geological team has had the benefit of reviewing the underground data provided by former operators. As such, there is great enthusiasm surrounding this next phase of exploration aimed at accessing the Old Sport from an underground perspective. Grande Portage's helicopter airborne magnetic and time domain electro-magnetic geophysical survey outlined an 8.0 km long by up to 500 metres wide linear magnetic feature that coincides with the location of the Old Sport Horizon and the historic underground development.
Preliminary drill testing of this target was completed as part of the Company's 2007 exploration work on the Old Sport Horizon. Drill hole step-outs some 800 metres south of the underground workings intersected a magnetite-rich portion of the Old Sport Horizon at the basal contact of the Quatsino Limestone in the centre of the magnetic linear feature. The hole confirms that the magnetic feature represents the Old Sport Horizon. Additional airborne coverage completed in 2007 has extended the magnetic anomaly a further 1.5 km to the northwest, for a total length of 9.5 km, where it appears the magnetic trend terminates against an east-northeast trending magnetic low.
Grande Portage has been exploring the Merry Widow project under the premise that there exists significant remaining tonnage at the old open pits peripheral to the magnetite zones and in the Old Sport Horizon either along strike extensions or within the old workings. Substantial amounts of mineralized skarn material remain untested.
Wesley Raven, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com
ON BEHALF OF THE BOARD OF DIRECTORS
-----------------------------------
Alistair MacLennan, Chairman
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE
SOURCE: Grande Portage Resources Ltd.
Mr. Ian Klassen, Phone: (604) 290-5762, Email: ian@grandeportage.com, Website: www.grandeportage.com
Copyright (C) 2007 CNW Group. All rights reserved.
Mr. Zen
16 years ago
Grande Portage Resources Ltd. Announces Summary of 2007 Diamond Drilling
VANCOUVER, Nov. 5, 2007 (Canada NewsWire via COMTEX News Network) --
Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce the following summary of it's 2007 diamond drilling program at the Merry Widow Massive Sulphide project on Vancouver Island, British Columbia. Weather permitting, the Company intends to drill up to three more Zones before the end of the calendar year.
<< Specific highlights of the drill program include: MW07-72: 8.16 metres of 5.82 g/t Au, 0.66 g/t Ag, 0.405% Co - Including: 4.5 metres of 9.25 g/t Au, 1.00 g/t Ag, 0.702% Co MW07-88: 10.24 metres of 4.01 g/t Au, 4.32 g/t Ag and 0.21% Cu - Including 1.94 metres grading 19.39 g/t Au, 18.92 g/t Ag and 0.93% Cu. Marten Zone A total of 24 holes (MW07-55 to MW07-78) totaling 1648.71 metres werecompleted on the Marten Zone. This Zone outcrops on surface south-west of theMerry Widow open pit and adjacent to the South Pit Zone. Massive sulphidesand/or mineralized skarn assemblages were intersected in every hole. Coppervalues were lower than those for the Merry Widow pit area, however, a numberof encouraging gold, silver and cobalt assays are reported in the table below.Only the more significant intercepts are reported. All holes had some valuesin gold, silver and copper. ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Co % Fe %. ------------------------------------------------------------------------- MW07-56 7.88 12.58 4.70 1.67 2.69 0.11 0.028 49.11 ------------------------------------------------------------------------- including 7.88 9.38 1.50 3.21 3.00 0.13 0.037 (greater than)50 ------------------------------------------------------------------------- MW07-58 5.07 7.07 2.00 0.26 13.50 1.34 0.010 6.16 ------------------------------------------------------------------------- MW07-59 9.93 11.36 1.43 4.40 4.10 0.17 0.108 46.84 ------------------------------------------------------------------------- MW07-60 11.58 12.30 0.72 2.25 4.60 0.23 0.059 45.60 ------------------------------------------------------------------------- MW07-60 16.55 20.07 3.52 2.03 7.90 0.42 0.071 48.00 ------------------------------------------------------------------------- including 16.55 18.01 1.46 2.72 12.00 0.64 0.059 (greater than)50 ------------------------------------------------------------------------- MW07-61 35.66 37.36 1.70 (less 8.90 0.61 0.003 7.41 than) 0.05 ------------------------------------------------------------------------- MW07-62 16.88 21.92 5.04 0.20 6.10 0.35 0.030 33.35 ------------------------------------------------------------------------- including 16.88 18.81 1.93 0.21 10.80 0.57 0.063 49.90 ------------------------------------------------------------------------- MW07-65 5.18 8.83 3.65 1.09 1.45 0.10 0.092 26.88 ------------------------------------------------------------------------- including 6.88 7.55 0.67 3.15 0.60 0.05 0.389 27.00 ------------------------------------------------------------------------- MW07-67 8.84 9.65 0.81 3.85 8.50 0.28 0.030 38.70 ------------------------------------------------------------------------- MW07-69 6.19 9.19 3.00 0.47 6.60 0.36 0.002 39.83 ------------------------------------------------------------------------- MW07-70 9.07 9.89 0.82 8.80 6.20 0.26 0.087 42.20 ------------------------------------------------------------------------- MW07-71 6.90 13.49 6.59 3.10 1.12 0.038 0.014 11.94 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Co % Fe %. ------------------------------------------------------------------------- including 9.90 11.98 2.08 8.21 2.74 0.039 0.017 14.19 ------------------------------------------------------------------------- MW07-71 37.40 40.40 3.00 2.88 7.80 0.38 0.016 (greater than)50 ------------------------------------------------------------------------- MW07-72 5.18 13.34 8.16 5.82 0.66 0.019 0.405 13.38 ------------------------------------------------------------------------- including 6.68 11.18 4.50 9.25 1.00 0.031 0.702 16.38 ------------------------------------------------------------------------- MW07-72 17.48 18.76 1.28 3.17 25.00 1.24 0.050 36.40 ------------------------------------------------------------------------- MW07-73 9.82 13.90 4.08 3.61 2.68 0.50 0.443 37.77 ------------------------------------------------------------------------- including 9.82 12.58 2.76 5.00 2.75 0.13 0.653 38.33 ------------------------------------------------------------------------- MW07-74 10.10 11.00 0.90 3.67 (less 0.002 0.137 (greater than) than)50 0.50 ------------------------------------------------------------------------- Merry Widow Pit Area Drilling Areas proximal to "Copper Knob" were tested for possible strike extensionsto the mineralization previously reported and included in the Company'srecently announced preliminary geological resource calculation. Seven holes(MW07-79, MW07-80 and MW07-86 to MW07-90) totaling 751.21 metres were drilledaround the Merry Widow open pit. Hole MW07-86 and MW07-89 were abandoned dueto technical difficulties at shallow ((less than)10 metres) depths downhole.Only holes MW07-80 and MW07-88 intersected significant mineralization with theresults shown in the table below. ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Co % Fe %. ------------------------------------------------------------------------- MW07-80 55.49 57.54 2.05 2.23 5.05 0.40 0.042 29.79 ------------------------------------------------------------------------- MW07-80 61.23 62.52 1.29 4.84 16.00 0.77 0.007 35.60 ------------------------------------------------------------------------- MW07-88 38.40 48.64 10.24 4.01 4.32 0.21 0.004 13.04 ------------------------------------------------------------------------- including 44.00 45.94 1.94 19.39 18.92 0.93 0.033 12.86 ------------------------------------------------------------------------- >>
South Pit Zone
This Zone lies between the Merry Widow open pit and the Marten Zone and is manifest on a cliff face in a dry streambed as a strong gossan with both massive sulphides and massive magnetite present. The Zone borders on the southern limit of old dump piles of waste material extracted from the Merry Widow pit.
The Company attempted to get a drill hole through to the target but was unsuccessful. A fault, overburden and buried dump material, not visible on surface, forced the abandonment of every hole prior to reaching the target. Five holes were collared to test the zone. The Company drilled holes MW07-81 to MW07-85 for a total of 110.32 metres. Holes MW07-85 and 85 were drilled to depth of approximately 37 metres and intersected local intervals of skarn in limestone. The remaining holes reached depths of 5-17 metres and no samples were collected from the intermixed volcanics and limestone units intersected in the holes. The Company intends on testing this target with a bigger drill and a larger core size to try and minimize the technical difficulties encountered.
Snowline Showing
Two holes were targeted to test this showing of massive magnetite exposed on a road cut to the south and east of the Martin Zone and north of the Bluebird and Bluebird 2 Zones. Holes MW07-91 and MW07-92 totaled 182.00 metres. Hole MW07-91 failed to intersect the target and drilled an alternating sequence of limestone and volcanic rocks with minor skarn intervals. Hole MW07-92 intersected weaker zones of wispy sulphide veinlets proximal to volcanic dykes cutting limestone.
Summary of Merry Widow Pit Area Drilling
The Company continues to be encouraged by the results to date from the Merry Widow Pit area. The Merry Widow open pit, Marten Zone, South Pit Zone, Bluebird Zone and Bluebird 2 Zones (the Bluebird Zones have not been drill tested) all lay along a visible general north-south trend. This trend is thought to represent a plumbing system for the mineralized solutions that formed the sulphide bodies at these respective zones. This concept has not been explored fully along strike or at depth nor has the south wall of the open pit been tested where strong magnetite mineralization is present. The trend from south of the open pit extends approximately 650 metres to the Bluebird showing.
So far, the Company has only conducted limited drill testing of the Marten zone which is approximately 200 metres south of the Merry Widow open pit. These targets are exposed on surface and all are accessible along active or decommissioned roads. Given their proximity to the Merry Widow open pit collectively these sulphide zones could be exploited in conjunction with the open pit if sufficient grade and tonnage can be developed. Other showings occur to the north of the Merry Widow open pit, along the same general north-south trend and have not been examined in detail as outcrop exposure is much poorer than that for the showings south of the open pit.
Old Sport Horizon
The Company drilled seven holes (MW07-48 to MW07-54) totaling 3870.03 metres to test this target. Of these holes MW07-50 and MW07-52 were abandoned in fault zones prior to reaching the Old Sport Horizon. In addition hole MW07-51 deviated greatly resulting in the hole missing the target. Hole MW07-53 intersected two zones of magnetite mineralization that are believed to represent the Old Sport Horizon; neither interval reported significant results. A summary of the intercepts is shown in the table below.
<< ------------------------------------------------------------------------- Hole No. From To Length Au g/t Ag g/t Cu % Fe % ------------------------------------------------------------------------- MW07-48 584.00 587.53 3.53 0.45 1.47 0.63 40.69 ------------------------------------------------------------------------- including 584.00 584.76 0.76 0.79 3.40 1.27 (greater than)50 ------------------------------------------------------------------------- MW07-49 518.62 527.3 8.68 0.19 2.60 0.50 6.42 ------------------------------------------------------------------------- MW07-49 558.97 560.6 1.63 0.35 1.80 0.81 3.10 ------------------------------------------------------------------------- including 560.05 560.6 0.55 0.89 4.90 2.04 7.76 ------------------------------------------------------------------------- MW07-50 hole abandoned in fault zone ------------------------------------------------------------------------- MW07-51 hole deviated and missed target ------------------------------------------------------------------------- MW07-52 hole abandoned in fault zone ------------------------------------------------------------------------- MW07-53 673.96 678.48 4.52 (less (less 0.012 34.12 than) than) 0.05 0.50 ------------------------------------------------------------------------- MW07-54 710.82 711.45 0.63 1.20 31.00 5.25 11.30 ------------------------------------------------------------------------- MW07-54 721.95 736.19 14.24 0.12 1.00 0.29 5.32 ------------------------------------------------------------------------- including 732.70 735.70 3.00 0.43 2.40 0.64 7.96 ------------------------------------------------------------------------- >>
The Company is in discussions to engage Geotech Ltd. to fly a VTEM airborne electromagnetic survey over the long magnetic lineament believed to represent the Old Sport Horizon. The purpose of the survey will be to define conductive zones within the magnetic anomaly that likely represent massive sulphide bodies prior to drilling further deep holes from surface.
The Company is in the process of investigating the feasibility of dewatering the underground workings to facilitate an evaluation of the remaining underground resource defined at the closure of the Benson Lake and Old Sport mines. Strike extension drilling of the Old Sport Horizon from underground would be considerably cheaper than from surface.
The Old Sport Horizon is a significant target for the Company with airborne geophysical magnetics data indicating a prospective horizon some 9.5 km long by up to 500 metres wide; the southern 4.0 km of this trend has never been drill tested.
Wesley Raven, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com
ON BEHALF OF THE BOARD OF DIRECTORS
-----------------------------------
Alistair MacLennan, Chairman
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
<< THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE >>
SOURCE: Grande Portage Resources Ltd.
Mr. Ian Klassen, Phone: (604) 290-5762, Email: ian@grandeportage.com, Website: www.grandeportage.com
Copyright (C) 2007 CNW Group. All rights reserved.
Mr. Zen
17 years ago
Grande Portage Resources Ltd. Announces Target Updates
Wednesday October 10, 1:30 pm ET
VANCOUVER, Oct. 10 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or the "Company") is pleased to announce the following updates:
IP Survey over Ni-Cu-Co-Cr Anomaly Completed
--------------------------------------------
ADVERTISEMENT
A crew from SJ Geophysics Ltd. recently completed a 3D induced polarization geophysical survey over a 2km x 4km grid centered over a magnetic high. The area covered by the Mag high consistently yielded anomalous Ni-Cu-Co-Cr in silt geochemical samples. The survey was required because much of the area is covered by limestone and basalt rocks that are not likely the cause of the geochemical values. Preliminary prospecting has discovered a gabbroic unit that is believed to be the source of the anomalous silt sample results. Results should be available in four to six weeks. The grid for the IP survey is located south of Lac Truite, on the east side of the Benson River valley approximately four kilometres southeast of the Merry Widow open pit.
Scrutor Claims
--------------
A first phase program has been completed on the 100% optioned Scrutor Claims, west of the Company's Cherry claims. This program is being directed by J.T. Shearer, M.Sc., P.Geo. To date, a total of 64 rock samples, 7 silt samples, 2 pan concentrates and 25 soil samples were collected.
The first phase program was designed primarily to prospect, map, sample, and extend previous massive sulphide discoveries made during the 1980's. The initial discovery of the Scrutor gold prospect was made in the 1940's. Subsequent work by MineQuest Exploration Associated Ltd. (1986-1998) located additional discoveries and to date three zones have been mapped; Discovery, Camp and Cadmium. At the Discovery Zone, rhyolite breccia with disseminated pyrite has returned values of up to 8.7g/t gold over 1.0 metres. In addition massive sulphide veins discovered in the 1940's returned values in the range of 1.0%-2.0% copper and up to 4.5 g/t gold. At the Camp Zone, rock and silt samples have returned anomalous arsenic values. The Cadmium Zone comprises rhyolite float with greenockite, a weathering product of cadmium-rich sphalerite, with values of up to 13.0% zinc.
During the recent program, the west part of the property was found to be underlain by an extensive rhyolite unit of the Jurassic Bonanza Group. One rock sample assayed 1.49% Cu and 5.4 g/tonne Ag with anomalous As. The host rock is andesite with disseminated chalcopyrite with some malachite staining. Follow-up work will be conducted. Soil samples were collected at 50m reconnaissance spacing. Two anomalous soil samples, up to 629ppb Au, were found downslope from a brecciated white rhyolite unit. Closer spaced soil samples will be taken in this area. Rock chip samples of abundant pyrite (semi-massive pyrite) in volcanic conglomerate and white rhyolite returned slightly anomalous gold (up to 40ppb Au), silver (up to 1.4 ppm Ag) and molybdenum (up to 123 ppm Mo) which will also be mapped in more detail.
This program successfully expanded the known showings and an evaluation of the sample results in conjunction with the airborne geophysical magnetic and electromagnetic surveys will form the basis for diamond drilling later this year, weather permitting. The airborne geophysical survey currently being flown by Aeroquest Ltd. on the Company's Cherry Claims, which lie east of the Scrutor Claims, has been modified to also cover the Scrutor claims and will entail approximately 350 line-kilometres of airborne coverage. The Scrutor claims cover 2,050 hectares, and are located in the Alberni Mining Division on Vancouver Island approximately 30km east-southeast of the Merry Widow pit.
Drilling at Merry Widow
-----------------------
Permitting for additional drilling in and around the Merry Widow pit and related showings is ongoing. The company plans to test the South Pit Zone, the Bluebird 2 Zone and IP targets of merit from the recently completed survey over the copper-nickel showing south of Lac Truite. Surface grab samples collected from the South Pit Zone returned up to 9.73g/t gold, 11.4 g/t silver, 0.225% copper and 0.172% cobalt. Surface samples collected from the Bluebird 2 Zone assayed up to 7.88 g/t gold, 6.6g/t silver, 0.597% copper and 0.115% cobalt. The Company anticipates receiving the necessary permits to drill shortly and intends on completing the program prior to the end of the year.
Pass Property
-------------
Recently, two of the Company's consulting geologists, along with assistants, visited the newly optioned Pass Property near Smithers, B.C. Several rock grab samples were collected from various trenches and were submitted to the laboratory for analysis of both precious and base metals. The Pass property hosts epithermal/mesothermal quartz-sulphide veins cutting intrusive rocks with vein widths varying from approximately 1.0 to 2.0 metres. Previous surface sampling and trenching returned values of up to 42.76 g/t gold and 118.7 g/t silver from 1.0 metres chip samples while previous grab samples returned up to 9.12% zinc and 14.18% lead. A full description of this gold-rich massive sulphide property and the showings observed will be forthcoming in future releases.
George Nicholson, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com
ON BEHALF OF THE BOARD OF DIRECTORS
--------------------------------------
Alistair MacLennan, Chairman
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE
For further information
For investor relations inquiries: Ascenta Capital Partners Inc., Trent Dahl, Tel: (604) 684-4743 Ext. 228, trent@ascentacapital.com
For corporate inquiries: Ian Klassen, President - Grande Portage Resources Ltd., Tel: (604) 290-5762, ian@grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Resources Ltd. Announces Resource Estimates at Merry Widow - Commences Preliminary Recovery and Scoping Studies
Thursday October 4, 8:00 am ET
VANCOUVER, Oct. 4 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or the "Company") is pleased to announce that it has received a National Instrument 43-101 compliant Technical Report dated September 24, 2007 (the "Report") on the copper-gold resources for the Merry Widow Property on Vancouver Island, British Columbia.
Highlights:
- The estimates as at September 24, 2007 using a 0.5 g/t Au cut-off,
defined an aggregate of 950,000 tonnes averaging 2.03 g/t Au,
5.64 g/t Ag, 0.34% Cu and 0.013% Co and 16.1% Fe, classed as Measured
plus Indicated, and an additional 120,000 tonnes averaging
1.2 g/t Au, 2.8 g/t Ag, 0.13% Cu and 0.008% Co classed as Inferred.
The various individual resources for each classification are shown in
the Table below.
- The Company will proceed with metallurgical test work, in-fill
drilling and commence a preliminary recovery and scoping study.
"We are very pleased by this preliminary resource calculation, which focused only on the 2006 drilling from the immediate Merry Widow pit area," commented Alistair MacLennan, Chairman of Grande Portage. "We have tested only a very small area of the Company's prospective land package and are very optimistic about further enhancing the estimate at the Merry Widow and other mineralized zones with continued drilling. Essentially, this is a great step as we develop our resources."
Total Resources - Merry Widow
MERRY WIDOW MEASURED, INDICATED and INFERRED RESOURCES
-------------------------------------------------------------------------
Tonnes
(greater
Au than)
Resource Cutoff Cutoff Grade (greater than) Au Cutoff
-------------------------------------------------------------------------
Grade Au Ag
Category (g/t) (tonnes) (g/t) (g/t) Cu (%) Co (%) Fe (%)
-------------------------------------------------------------------------
MEASURED 0.50 340,000 2.34 6.72 0.44 0.014 15.7
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INDICATED 0.50 610,000 1.86 5.03 0.29 0.013 16.3
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INFERRED 0.50 120,000 1.19 2.77 0.13 0.008 16.2
-------------------------------------------------------------------------
MEASURED
+
INDICATED 0.50 950,000 2.03 5.64 0.34 0.013 16.1
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This mineral resource estimate has been completed by independent qualified person Gary H. Giroux, P.Eng., MASc., of Giroux Consulting Ltd. in Vancouver, B.C. This estimate is based upon a 3D geologic model integrating 4,448 metres of diamond drilling of 43 drill holes, 2,290 assays, with 104 down-hole surveys collected between June and December 2006.
The resource was reported utilizing gold cut-off grades ranging from 0.10 g/t to 3.00 g/t gold, as more particularly set out in the Report. A complete copy of the Report will be available under the Company's public filings on SEDAR (www.sedar.com). A gold cut-off grade of 0.50 g/t gold was selected as representing one possible mining scenario. For the purposes of the calculations, lognormal cumulative frequency plots were used to assess grade distribution to see if capping of high values was required and if so at what levels. For all elements capping levels were established based on the individual grade distributions as follows:
Au - a total of 18 gold assays were capped at 32.0g/t gold
Ag - a total of 9 silver assays were capped at 165g/t silver
Cu - a total of 7 assays were capped at 11.7% copper
Co - a total of 5 assays were capped at 0.48% cobalt
Fe - all Fe assays were capped at 50% iron, the analytical detection
limit.
Total Magnetite Resources - Merry Widow
An estimate of magnetite content was also made for the Merry Widow Project. This was more difficult as iron was present in both magnetite and sulphides, principally pyrrhotite, pyrite and chalcopyrite. To try and eliminate iron content due to sulphide mineralization, the calculations utilized the lithologic logs and only report iron from samples coded as massive magnetite.
MERRY WIDOW MEASURED PLUS INDICATED and INFERRED MAGNETITE RESOURCE
-------------------------------------------------------------------------
Tonnes
(greater
Fe than)
Resource Cutoff Cutoff Grade (greater than) Au Cutoff
-------------------------------------------------------------------------
Grade Au Ag
Category (%) (tonnes) (g/t) (g/t) Cu (%) Co (%) Fe (%)
-------------------------------------------------------------------------
MEASURED
+
INDICATED 20.0 125,000 0.75 2.99 0.13 0.012 29.5
-------------------------------------------------------------------------
INFERRED 20.0 23,000 0.42 2.09 0.08 0.012 28.4
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At this time, there are no other known factors which may affect the above mineral resource estimates. Mineral resources are not mineral reserves, and as such do not have demonstrated economic viability. The above resource estimates are made in accordance with the Mineral Resource/Reserve Classifications recommended by the CIM Committee on Mineral Resources and Mineral Reserves, as required by National Instrument 43-101.
In 2007, Grande Portage undertook a 12,000 metre, Phase II diamond-drilling program which encompassed definition and infill drilling, in and around the Merry Widow Pit. It was conducted in a manner and at a drill spacing that would enable the completion of a future resource estimate at the measured or indicated category. The prospective area remains open along strike and down dip. Grande Portage will conduct further drilling in the area with the goal to increase and define the resource at Merry Widow.
In addition to the detailed drilling, metallurgical testing will be conducted on the mineralized material to determine suitable techniques for metal recovery and determine recoveries of the main economic minerals. This would allow for the creation of a gold and/or copper equivalent value to use in a preliminary economic assessment valuation. Samples will be selected to characterize a high copper-low gold area, high gold-low copper area and an area with average copper and gold to determine a set of reasonable recoveries.
The Company will also review the economic possibilities of recovering the other appreciable quantities of silver, cobalt and iron. The metallurgical test work, in-fill drilling, and a preliminary recovery and scoping study will be undertaken by independent consulting engineering firms in accordance with NI 43-101 compliance. A decision to proceed to feasibility will be based on these results and ongoing drilling of the Company's numerous other zones.
The Company is confident that planned drilling of nearby known mineralization showings (Martin, South Pit Zone, Bluebird and Snowline) will add to the known resources. This drilling is planned before year end. All these showings including the Merry Widow pit represent at surface mineralization suitable for low-cost, open pit mining which will be the immediate focus.
A program of monitoring water quality and testing for constituent elements is being initiated along creeks draining within the property to establish baselines for future environmental impact studies. This program will be established and monitored by an independent environmental consulting group. This has been supplemented with property wide silt sampling, geological mapping and prospecting of most roads, outcrops and known showings.
All available current and historic data is being converted to digital format for use in various geologic software.
The independent resource estimation was done by independent qualified person Gary H. Giroux, P.Eng., MAS.c., of Giroux Consultants Ltd. and the report was co-authored by Brian Game, P.Geo. George Nicholson, P.Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
Incentive Share Options
-----------------------
Subject to regulatory approval, the Company has also granted incentive stock options for 220,000 common shares at $0.42 per share for a period of five years.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com
ON BEHALF OF THE BOARD OF DIRECTORS
-----------------------------------
Alistair MacLennan, Chairman
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE
For further information
For investor relations inquiries: Ascenta Capital Partners Inc., Trent Dahl, Tel: (604) 684-4743 Ext. 228, trent@ascentacapital.com
For corporate inquiries: Ian Klassen, President - Grande Portage Resources Ltd., Tel: (604) 290-5762, ian@grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Resources Announces the Acquisition of Three Property Interests-Baseline Environmental Studies to Commence at Merry Widow
Wednesday September 12, 1:24 pm ET
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that it has entered into a property acquisition agreement to acquire an undivided 100% interest in six mineral claims known as the Tahsis Property, covering 726 hectares, and located near Tahsis, B.C. in the Alberni Mining Division on Vancouver Island. The agreement provides for the payment of $10,000 and the issuance of 100,000 common shares shares to two arm's length vendors. The claims have been transferred into the name of the Company, and the cash paid and shares issued to the vendors.
ADVERTISEMENT
The Tahsis property encompasses geology similar to that of the main Merry Widow property to the north and has a number of magnetite occurrences. Prospecting and sampling will enable the Company to determine if other massive sulphide occurrences exist.
Grande Portage has also entered into an option agreement to acquire an undivided 100% interest in another six mineral claims known as the Scrutor Property, covering 2,050 hectares, and also located in the Alberni Mining Division on Vancouver Island, but not contiguous to the Tahsis Property. The option agreement provides for option payments of a total of $100,000 (of which the first $7,500 has been paid), and the issuance of up to 250,000 common shares to an arm's length vendor in installments over the next three years, and the expenditure of not less than $700,000 on the property in annual installments by August 31, 2010. The vendor will also retain a 2% net smelter returns royalty, of which the Company can purchase one-half for $750,000 at any time.
The Scrutor claims cover a felsic volcanic package of rocks consisting of mineralized andesite, rhyolite and dacite within the Lower Jurassic Bonanza Group. The geology is similar to the former Westmin Mine in Strathcona Park to the south which has been producing massive sulphides for over 30 years. The claims also cover a bimodal magnetic high feature, the relevance of which and the relation to mineralization needs to be determined. Previous work on the property by Minequest in the 1980's was limited to prospecting and some geological mapping of the volcanics however very good assays were reported. From the Minequest Assessment Report 17134, the Discovery Zone returned grades up to 8.7g/t Au over 1 metre within felsic breccia. Massive sulphide vein swarms returned 1% to 2% Cu and up to 4.5 g/t Au. The cadmium zone is an intensely altered dacite with sphalerite and a float sample returned 13% Zn. Minefile occurrence No 92L100 "Scrutor Gold" occurs within the claims and gold in quartz veins was worked in 1946.
Jo Shearer, M.Sc., P.Geo., is managing the exploration programs on this property.
Finally, Grande Portage has also entered into an option agreement to acquire an undivided 100% interest in another two mineral claims known as the Pass Property, covering 563 hectares, and located southwest of Smithers, B.C., in the Omineca Mining Division. The option agreement provides for an option payment of a total of $7,500 (which has been paid), and the issuance of up to 200,000 common shares to an arm's length vendor in installments as exploration work progresses, and the expenditure of not less than $500,000 on the property in installments over the next four years. The vendor will also retain a 3% net smelter returns royalty, of which the Company can purchase one-half for $1,000,000 at any time.
The Pass Property was last worked in 2004 when high grade gold values within a massive sulphide vein system prompted a recommendation of drilling. Mineralization is described as massive pyrite, galena, and sphalerite within quartz vein swarms up to 4 metres wide and some are in excess of 1km strike length.
Previous reported sampling includes:
----------------------------------------------------------------------------
TABLE 1 ANALYTICAL RESULTS
----------------------------------------------------------------------------
Sample No. Area Width Au (g/t) Ag Zn(%) or Cu Pb(%) or
(metres) or (ppb) (ppm) (ppm) (ppm) (ppm)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
152651 D 0.7 8.92 38.6 37 415.4 1523.8
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152652 D 0.8 45 1.6 60 67.1 33.6
----------------------------------------------------------------------------
152653 D 0.4 26.05 99.4 225 180 4.5
----------------------------------------------------------------------------
152654 D 1 3.45 30.7 1364 2531.1 1.14
----------------------------------------------------------------------------
----------------------------------------------------------------------------
152655 Cu 1 450.1 10.5 504 3450.2 398.5
----------------------------------------------------------------------------
152656 Cu 1 376.6 4.3 918 1805.6 288.5
----------------------------------------------------------------------------
----------------------------------------------------------------------------
152657 C 0.8 26.6 66.4 6.76 10559.5 8.23
----------------------------------------------------------------------------
152658 C Grab 23.96 136.5 9.12 340 14.18
----------------------------------------------------------------------------
152659 C Grab 20.44 69.8 5.71 546.2 8.38
----------------------------------------------------------------------------
----------------------------------------------------------------------------
152660 A 1 42.76 111.9 1.66 1824.9 9.67
----------------------------------------------------------------------------
152661 A 1 23.21 118.7 1.69 2025.2 8.7
----------------------------------------------------------------------------
152662 A 1 150 2.7 704 1035.5 2020
----------------------------------------------------------------------------
152663 A 1 4.81 33.7 167 1015.2 1.01
----------------------------------------------------------------------------
----------------------------------------------------------------------------
152664 B 1 60 0.9 2334 251.9 563.9
----------------------------------------------------------------------------
152665 B 1 8.82 39.2 3354 1672.7 2.64
----------------------------------------------------------------------------
152666 B 0.6 11.73 70.6 2.54 527.4 4.48
----------------------------------------------------------------------------
The Company plans to have one of its consulting geologists visit the property this year to sample and make plans for drilling in the spring of 2008.
At the Company's Merry Widow project permitting is underway for drilling of the Road, Martin East, Bluebird and Skyline showings. Infill drilling, metallurgical test work, and baseline environmental studies will commence on the main pit area within this quarter as the Company looks to undertake a prefeasibility study.
George Nicholson, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, Chairman
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.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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:
Trent Dahl
Ascenta Capital Partners Inc.
(604) 684-4743 Ext. 228
Email: trent@ascentacapital.com
Bryson Goodwin
Ascenta Capital Partners Inc.
(604) 684-4743 Ext. 239
Email: bryson@ascentacapital.com
Ian Klassen
Grande Portage Resources Ltd.
President
(604) 290-5762
Email: ian@grandeportage.com
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
.MORNING NOTES Michael A. Berry, Ph.D.
GRAND PORTAGE (GPG TSXV)
Yesterday George Nicholson, P. Geo. consulting geologist to Grande Portage Resources,
updated me on their progress. George is the geologist in charge of the exploration and
development of the company’s Merry Widow project near Port Hardy on Vancouver
Island. I visited the Merry Widow last November.
Merry Widow Mountain has been mined for the past 100 years. Initially very rich
magnetite (iron ore) was mined on top at the Merry Widow pit. In 1897 high grade
copper was discovered at the Old Sport Horizon on the eastern slope of the mountain.
The Merry Widow pit was mined for its iron ore content beginning in 1916. The massive
sulphide ore containing copper and other “contaminants” were left in place at the time.
Two large ore bodies on the property were mined during the period 1957 to 1973. First
was the Empire Development Merry Widow mine, which lay at surface elevation of
about 732 meters.
Far below this magnetite mine, along what is called the Old Sport Horizon,
Consolidated Mining and Smelting Company mined out a copper deposit with accessory
gold and silver values in the Benson Lake mine.
George Nicholson and his crew have been busy drilling near surface targets at the Merry
Widow “glory hole.” They should soon have tonnage and grade estimates of the copper,
cobalt, gold, silver and magnetite. The company notes on its web site
“the favorable host zone extends for 5km in length and down dip along the contact of
the Coast Copper stock for at least 770m, the potential for the presence of a really large
resource of gold bearing massive sulfide mineralization becomes plausible.”
The project update issued yesterday indicated the company is nearing a resource
estimate.
“Much of the main Merry Widow open pit near surface mineralization, amenable to
low cost open pit extraction, has been completed and initial estimates regarding
tonnage, grade and cut off values regarding gold-copper-cobalt-silver and magnetite
have been received by the Company.”
The company is planning near surface drilling on six additional, potentially high grade
targets – all of which I saw last November. They are the Raven (Copper Knob), Skyline,
Bluebird 1 & 2, Marten and Marten extension. (See the map below for location of these
targets.)
Yesterday the company reported that at the Marten zone near surface intersections
averaged 1.5 meters. Gold values ranged from nil to 4.4 g/t, copper from 0.1% to 1.34%
and magnetite iron from 4.42% to greater than 50% with many greater than 30%. Cobalt
values were sporadic from nil to 0.389%. The company expects to find larger intercepts
on the other near surface targets. The near term resource estimates will likely be small
but high grade. In 1992 Don Graham estimated the Raven and Merry Widow targets
alone, contained reserves of 7,000 tonnes of ore grading .38 ounces per tonne gold and
between 1.2% and 2% copper. I shall await the resource estimate next week with
interest, but there should be a million tonnes or more of resource in the GPG estimate
now that much more drilling has taken place. Thus, in my opinion the resource could be
worth $200 million at current market prices for copper, gold and cobalt.
The upside, in the case of Grande Portage, is that there are many targets to be explored,
the property has been a mine for over 100 years and Teck Cominco last mined the Old
Sport Horizon in the 1970s and then left when the price of base metals fell to low levels.
While this initial resource estimate will be small, it should be high grade. The key
Discovery elements for GPG are the fact that the Merry Widow and surrounding targets
can make GPG a near term (2 year) producer. The company is also a strategic acquirer
and is actively acquiring more property in the area.
nlightn
17 years ago
Grande Portage Resources Ltd.: Resource Calculation Nearing Completion-Project Update
Tuesday August 7, 9:30 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 7, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to present an update on the ongoing exploration activities at its main Merry Widow and Cherry projects, west of Port McNeil on Vancouver Island.
Diamond drilling has been continuing around the main Merry Widow open pit area in an effort to expand resources so that economic modeling can be initiated. Much of the main Merry Widow open pit near surface mineralization, amenable to low cost open pit extraction, has been completed and initial estimates regarding tonnage, grade and cut off values regarding gold-copper-cobalt-silver and magnetite have been received by the Company. The Company's consulting geologists and engineers are reviewing the data and wish to present the information in a NI 43-101 compliant format. This is expected within the next 2 weeks. Following this, engineers will commence the process of economic viability and recovery processes. Additional permitting may be necessary. With the results coming in and the targets selected the Company is now reviewing its options as it assesses the transition from an exploration company.
Meanwhile, other near surface open pittable targets have been selected for additional drilling and definition near the Merry Widow pit and include the Raven (Copper Knob), Skyline, Bluebird 1 & 2, Marten and Marten extension. To date, only the Marten has been drilled and completed while drilling is now underway at the Raven showing. Drilling difficulties in a fault zone on the Marten extension necessitates the Company to permit for new drillsite locations. The Marten zone intersections near surface average 1.5 metres with gold values ranging from nil to 4.4 g/t, copper from 0.1% to 1.34% and magnetite iron from 4.42% to greater than 50% with many greater than 30%. Cobalt values were sporadic throughout from nil to 0.389%. All other targets have a larger surface expression and larger drill intersects are anticipated.
The massive silt sampling programme covering the entire Merry Widow and Cherry claims was completed mid-July and the Company now awaits all assay data so that statistical analyses can be undertaken and follow up targets selected. Hundreds of samples were collected and during the program several new, previously unknown areas of massive sulphide mineralization were discovered. These include areas of copper, zinc and iron sulphide mineralization.
The I.P. grid on the copper-nickel target was postponed for 2 weeks due to forest fire hazard and will recommence within a week. The I.P. geophysics crew is scheduled for mid August with completion near the end of August. The airborne geophysical programme on the Cherry claims originally scheduled for early July will now be flown in late August due to weather pattern delays in other parts of British Columbia and technical delays with the contractor's equipment.
Lastly, the Company is at advanced stage negotiations with 4 separate groups regarding additional claim blocks adjacent to the project area. The areas include 3 more anomalous copper, nickel targets with favorable gabbroic rocks, massive sulphide copper-gold-silver-zinc targets, and additional magnetite resources. Only the copper-nickel targets are early stage. The Company anticipates completing these acquisitions by mid month.
George Nicholson, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
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. The Company is well financed with no long term debt. More information is available online at www.grandeportage.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, Chairman
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:
Trent Dahl
Ascenta Capital Partners Inc.
Investor Relations
(604) 684-4743 Ext. 228
Email: trent@ascentacapital.com
Bryson Goodwin
Ascenta Capital Partners Inc.
Investor Relations
(604) 684-4743 Ext. 239
Email: bryson@ascentacapital.com
Ian Klassen
Grande Portage Resources Ltd.
President
(604) 290-5762
Email: ian@grandeportage.com
Website: www.grandeportage.com
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Resources Ltd.: 14 Drillholes Completed From 3 Drillsites at Marten Showing; Massive Sulphides Intersected in 11 Holes
Wednesday July 4, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 4, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that it has thus far completed 14 diamond drillholes from 3 drillsites all located at the Marten Showing, a step out of approximately 250 metres south of the former open pit magnetite mine on the Merry Widow project, northern Vancouver Island.
ADVERTISEMENT
11 drillholes, to date, have intersected multiple zones of massive sulphide and massive magnetite mineralization. The thickness, number of zones per hole and constituent mineralogy varies considerably with each hole. The thickness of the zones range from less than 1 metre up to 4 metres. The mineralization is comprised of either massive magnetite lenses with lesser chalcopyrite, pyrrhotite and pyrite; or massive sulphide lenses comprised chiefly of pyrrotite, with lesser chalcopyrite, pyrite, arsenopyrite and cobaltite.
These holes have been designed to explore the copper-gold-cobalt-silver massive sulphide mineralization hosted in the wall rocks and in the periphery of the magnetite skarn. Three drill stations were established and holes were drilled either at steep angles to assess the down dip potential or were fanned out at different bearing angles to determine the mineral variability along strike. By undertaking a drill program in this manner, the company lowers its costs with fewer setups and attains a greater geological understanding within a contained area.
All samples are prepared at ALS Chemex's facility in North Vancouver, B.C. All samples are analysed by ICP methods, ME-ICP61m. This involves four-acid digestion of the sample and analysis of 33 elements plus mercury with a mass spectroscopy finish. In addition gold, silver, copper and cobalt are analysed by fire assay of a 30-gram pulp with a gravimetric finish with the results expressed in grams/tonne.
George Nicholson, P. Geo., is the qualified person for this project and has reviewed and verified the contents of this news release.
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, Chairman
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. Ian Klassen
Grande Portage Resources Ltd.
(604) 290-5762
Email: ian@grandeportage.com
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Prepares to Resume Drilling at the Merry Widow Massive Sulphide Property
Tuesday May 22, 8:01 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 22, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that it will commence its 2007 drilling program at the Merry Widow open pit within the next two weeks. Drill crews and equipment are on site where the Company is currently permitted for a further 10,000 metres of diamond drilling. The Company will focus its efforts on the southern extension of last year's drilling wherein encountered high-grade mineralization such as:
2006 HIGHLIGHTED RESULTS
Specific Highlights of 2006 Drill Results
From To Interval (m) Au (g/t) Ag (g/t) Cu(%)
Drill Hole, MW-08 1.53 87.48 85.95 3.83 4.94 0.26
Drill Hole, MW-15 26.88 64.63 47.32 5.16 23.48 1.47
Drill Hole, MW-16 26.88 64.63 49.31 4.56 18.73 1.14
Drill Hole, MW-17 20.02 70.44 50.32 6.51 21.93 1.38
Drill Hole, MW-18 9.33 69.00 49.67 3.26 15.02 1.02
Drill Hole, MW-21 26.57 35.35 7.44 5.10 143.20 8.44
Drill Hole, MW-22 23.47 63.98 40.51 2.46 8.75 0.51
Drill Hole, MW-23 25.5 66.66 41.01 2.13 41.01 0.67
As a prelude to drilling, the Company's crews have started ground geologic mapping and geophysical surveys to cover a 2 kilometre portion of the Merry Widow trend, both north and south of the open pit.
Crews are establishing a cut line grid with 100 metre spaced lines extending 1 kilometre north and 1 kilometre south of the Merry Widow open pit. A total of 15-20 line-kilometres of grid are planned with possible extensions dependent upon results. Geologic mapping of the known mineral occurrences will be undertaken and ground magnetic and electromagnetic surveys will be completed. Initial geophysical surveying will involve ground magnetic and VLF-EM surveying with readings collected every 10 metres along the grid lines. This will be followed by a Max-Min survey (Horizontal Loop) to locate areas of massive sulphide mineralization within the 2 km long highly magnetic trend and will be used in conjunction with the geologic mapping to define drill targets and extensions to the mineralization defined at the open pit.
The Merry Widow trend encompasses various prospects with consistently anomalous copper and gold with some showings also containing silver, cobalt and iron. The main prospects, from north to south, include: Whiskey Jack (Fe), North Notch (Cu, Au, Co, Ag), Adit Show (Cu, Co, Au), Raven Pit area (Fe, Cu, Au, Ag, Co), Marten (Cu, As, Au), Bluebird 1 and 2 (Cu, Au) and Snowline (Cu, Au).
Snow at the higher elevations has impeded the surveying but it is anticipated that the work will be completed within the next few weeks and drilling of multiple targets will commence shortly thereafter.
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, Chairman
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. Warren Robb. P. Geo.
Grande Portage Resources Ltd.
(604) 682-4836
Email: warrob@telus.net
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
nlightn
17 years ago
Drilling Continues At Old Sport Horizon---Successfully Identifies Two Off-Hole Anomalies After Down Hole Geophysics Completed
VANCOUVER, BC, May 18, 2007 -- Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") announces that it has collared 5 holes (holes MW07-48 to MW07-52) on the Old Sport Horizon and is in the process of starting the 6th hole (MW07-53).
The first hole, MW07-48, targeted resources defined by previous operators and successfully intersected the Old Sport Horizon from 584.00-587.53 metres; this interval averaged 0.63% copper, 0.45 g/t gold, 1.47 g/t silver and 40.69% iron over 3.53 metres. Included in this intercept is a higher grade interval assaying 1.27% copper, 0.79 g/t gold, 3.40 g/t silver and >50% iron over 0.76 metres.
The second hole of the program, MW07-49, was also designed to test previously outlined underground resources and lies approximately 160 metres south-southwest of hole MW07-48. This hole deviated from the intended track and intersected minor stringers and veinlets of magnetite and pyrite-chalcopyrite at the projected location of the Old Sport Horizon. The third hole, MW07-50 was located approximately 1100 metres south-southeast from hole MW07-49 and was intended to test the 41409 Zone as defined by underground drilling in the early 1970's. The 41409 Zone was defined by underground drilling from a development drift and is located approximately 120 metres beyond the southern limit of the underground mining development. This hole was abandoned at 30 metres depth in a fault zone. A second hole from the same location was then collared to test the same target, hole MW07-51. This hole deviated considerably from the intended track and by-passed the Old Sport Horizon due to the degree of deviation.
The final hole completed to date, MW07-52, was located approximately 660 metres south of hole MW07-50 and MW07-51 and was drilled to test the magnetic anomaly defined by the 2006 airborne survey that is coincident with the underground development. The hole was collared well past any historic underground development. The hole was abandoned at 443.8 metres in a fault zone, prior to reaching the Old Sport Horizon.
Crone Geophysics Identify Downhole Anomalies
The Company contracted Crone Geophysics and Exploration Ltd., of Mississauga, Ontario to complete borehole surveying of selected holes. Crone has completed their work and surveyed holes MW07-48 and MW07-51. The survey successfully identified large off-hole electromagnetic (EM) conductors at the projected depth of the Old Sport Horizon in both these holes. The Company is currently reviewing this data and will drill both of the anomalies.
Grande Portage has been exploring this area under the premise that there exists significant remaining tonnage at the old open pits peripheral to the magnetite zones and in the Old Sport Horizon either along strike extensions or within the old workings. The 2006 airborne geophysics completed confirmed potential strike extensions over 8 kilometres while a review of former reports suggest a copper cut off grade had been previously used to delineate mineable ore. Substantial amounts of mineralized skarn material remain untested.
Management
The Company wishes to announce that effective immediately, Alistair MacLennan will serve as Chairman of the Board, Ian Klassen will be President and George Nicholson, P. Geo. has been appointed Vice President, Exploration.
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, Chairman
Mr. Zen
17 years ago
Grande Portage Engages Crone Geophysics to Conduct Down Hole and Surface PEM Survey
Friday April 27, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 27, 2007) - As previously announced Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to confirm that it has successfully intersected massive sulphide mineralization at the projected depth on the Old Sport Horizon. The Old Sport Horizon was the host rock for two former producing underground mines-Coast Copper and Benson Lake. The mines produced appreciable amounts of copper, gold, silver, cobalt and iron over almost a decade before closing in late 1972 due largely to the low commodity prices of the day.
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The Company has now completed diamond drilling on 3 holes to depth at the Old Sport Horizon. In an effort to fully utilize the latest technologies and enhance the overall direction of the exploration program, the Company has engaged the services of Crone Geophysics and Exploration Ltd. of Mississauga, Ontario to conduct a Down Hole and Surface PEM survey.
The down hole survey will occur during the first week of May. This technology has assisted in the discovery and definition of numerous ore-bodies around the world. Down hole geophysics saves drilling time and associated costs when looking for step-out targets and utilizes a 3D-component probe capable of obtaining both magnetic and electromagnetic data. The data obtained by the 3D probe is gathered from both in-hole and off-hole magnetic and electromagnetic sources and once processed, provides a vectoring tool for future drill holes. Additionally, a tight-spaced ground magnetic survey will commence immediately to cover all identified target areas. This provides greater detail and definition than airborne surveys.
Grande Portage has been exploring the Merry Widow project under the premise that there exists significant remaining tonnage in peripheral magnetite zones at the existing open pits and in the Old Sport Horizon either along strike extensions or within previous workings. The airborne geophysics completed to date confirmed potential strike extensions over 8 kilometres in the Old Sport Horizon, open ended, and 3.5 kilometres on the Merry Widow. A review of former reports suggest a copper cut off grade had been previously used to delineate mineable ore. Substantial amounts of mineralized skarn material remain untested.
All relevant core from the Old Sport Horizon drilling has been split and sent to ALS Chemex Labs, North Vancouver, B.C. The Company will announce the results from the first grouping of holes as they are received.
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, Chairman/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. Nathan Pearson
Grande Portage Resources Ltd.
(778) 996-3294
Email: nathan@grandeportage.com
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Significantly Enhances Land Position
Tuesday April 10, 6:58 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 10, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that it has substantially increased its claim ownership on Vancouver Island by acquiring the 36 Cherry Claims covering an area of approximately 18,000 hectares. These claims are located approximately 20 kilometers SE of the Company's aggressive drill exploration programme at the Merry Widow project.
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These new claims cover a similar sequence of Quatsino Limestone centered between two geophysical MAG highs with coincident copper, gold, cobalt, and iron geochemical signatures. From Tahsis, B.C. to the south to Wass Lake, B.C., an inferred fault runs through the center of the claim block and the Company believes may be responsible for any mineralization or the location of where another massive sulphide skarn horizon may exist. Within weeks, the Company plans to initially complete an airborne geophysical MAG and EM survey as well as prospecting.
In consideration of the transaction to acquire a 100% interest on the property, the Company will pay the vendor $15,000 and issue 250,000 shares as well as 250,000 share purchase warrants exercisable at $0.60 per share for one year. The Company then has six months from date of the agreement to complete its investigations of prospecting and airborne survey and not less than $200,000 in expenditures to earn a 50% interest. Following a review of the results, should the Company elect to acquire the balance of 50%, it must pay an additional $15,000 and issue a further 250,000 shares and 250,000 share purchase warrants exercisable for one year at a price to be determined. The vendor has also retained a 2.5% net smelter returns royalty after the commencement of commercial production, which is subject to the Company's buy-back option as to 60% (i.e. 1.5%) for $1.5 million.
The agreement is subject to acceptance by the Board, and approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, 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. Ian Klassen
Grande Portage Resources Ltd.
(604) 290-5762
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Resources Ltd.: Drilling Successfully Intersects Old Sport Horizon-Promising New Zones Discovered
Monday March 26, 7:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 26, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that it has successfully intersected massive sulphide mineralization at the projected depth on the Old Sport Horizon. The Old Sport Horizon was the host rock for two former producing underground mines-Coast Copper and Benson Lake. The mines produced appreciable amounts of copper, gold, silver, cobalt and iron over almost a decade before closing in late 1972 due largely to the low commodity prices of the day.
ADVERTISEMENT
Grande Portage has been exploring the Merry Widow project under the premise that there exists significant remaining tonnage at the old open pits peripheral to the magnetite zones and in the Old Sport Horizon either along strike extensions or within the old workings. The airborne geophysics completed confirmed potential strike extensions over 8 kilometres while a review of former reports suggest a copper cut off grade had been previously used to delineate mineable ore. Substantial amounts of mineralized skarn material remain untested.
The first hole drilled in 35 years into the Old Sport Horizon intersected 3.46 metres, from 584.07m to 587.53m of massive sulphides comprising of 70% magnetite, 2-7% chalcopyrite, 2-5% pyrhhotite, and 1-3% pyrite within a garnet epidot skarn assemblage. Within the rock unit above, a flow volcanic, chalcopyrite and pyrite up to 3% have replaced and infilled vessicles. Below the massive sulphide, from 587.53m to 590.34m was weakly mineralized epidote garnet skarn with 1-2% chalcopyrite before intersecting the Karmutsen Volcanics. The top 1.5 metres of Karmusten also contained 2-3% chalcopyrite as fracture fillings.
Of particular interest were two earlier intersections of garnet-epidote skarn mineralization. From 244.60m to 257.86m up to 5% magnetite as blebs and clusters and less than 1% chalcopyrite in skarn were intersected while from 353.86m to 361.71m it was weakly mineralized but also within garnet-epidote skarn.
This is relevant as it suggests that the skarn related massive sulphide mineralization may be more pervasive than originally conceptualized and following more closely along the margins of and extending from the gabbro intrusive rather than merely permeating along zones of obvious weakness such as the Old Sport and Merry Widow zones. Further drilling stepping in closer to the gabbro core will assist in this determination.
At present, all relevant core has been split and is being readied for transport to ALS Chemex Labs, North Vancouver, B.C. The drill has moved to the second site and has started drilling.
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:
Mr. Ian Klassen
Grande Portage Resources Ltd.
(604) 290-5762
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
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
Copyright (C) 2007 CCNMatthews. All rights reserved.
Mr. Zen
17 years ago
Grande Portage Receives Drill Permit-28,000 Metre, Multi Drill Program Underway, Helicopter Airborne Mag and EM Survey Contract Signed
Friday March 2, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce the following:
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Drilling Update
The Company has received the necessary permits for a Phase II diamond drilling program on its Merry Widow Massive Sulphide project on Vancouver Island.
The permit allows for drilling of up to 60 (sixty) drill holes and will focus on intersecting and detailing mineralization hosted in the Old Sport Horizon. The Old Sport Horizon is a highly prospective mineralized zone occurring at the contact of the Quatsino Limestone and the Karmutsen volcanics along which diorite from the Coast Copper intrusive stock has intruded. Mineralization containing copper, gold, silver and iron has formed along this horizon.
Mining of the Old Sport Horizon spanned 10 years (1962 to 1972) and production stands at over 93 million pounds of copper, 1.1 billion pounds of iron ore, 126,407 ounces gold and 392,872 ounces of silver from 2.96 million tons of ore mined. Mining along the Old Sport Horizon stopped at the end of 1972 due only to the low price of copper.
The Company is mobilizing a second drill rig to conduct drilling on the Old Sport Horizon. Drill targets for the Old Sport Horizon have been defined from the tilt derivative of the total magnetic field data obtained from the airborne survey flown in 2006. This data outlined a broad zone exhibiting the same response which encompassed the Benson Lake and Old Sport mines and extends for some 3 kilometers along strike to the south. The company intends to drill test the entire 3 kilometer extension south of the Old Sport mine. Drilling proximal to Merry Widow Open Pit will recommence with the number 1 drill rig once snow levels have receded. The Company has contracted Westcore Drilling of Hope, B.C. to drill the approximately 28,000 metre program planned for the upcoming year. The core diameter will be NQ or BTW.
Airborne Contract
The Company has signed a contract with Aeroquest Limited of Milton, Ontario to conduct a Helicopter Airborne Magnetic & Time Domain EM Geophysical Survey on the Company's Merry Widow massive sulphide project on Vancouver Island, BC. The Survey will commence in mid April ,2007
A total of 1590 line kilometers plus tie lines are currently scheduled to be flown. The airborne survey will help to identify the northern contact of the Coast Copper Stock and the Quatsino limestone which hosts skarn mineralization. The survey will also test the northern extension of the Old Sport horizon which trends to the north-west towards Port Alice.
Last year's completed airborne geophysics survey, identified over 30 high priority near surface EM targets. The majority of these are concentrated near the past producing Merry Widow Open Pit area and by the past producing Benson Lake/Old Sport underground mines. The EM targets have aided in the selection of drillhole sites but has also extended the known strike length of the Merry Widow deposit 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.
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:
Mr. Ian Klassen
Grande Portage Resources Ltd.
(604) 290-5762
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
a few more research notes on the Merry Widow area
The Merry Widow deposit occurs as 3 stacked lenses containing massive magnetite within Lower Jurassic Bonanza Group volcaniclastics and underlying Upper Triassic Vancouver Group, Quatsino Formation limestone. The occurrence lies several hundred metres east of the diorite to gabbro Coast Copper or Benson Lake stock of the Early to Middle Jurassic Island Plutonic Suite.
The sediments and volcanics are north to northwest striking and west dipping. The intrusion has locally modified attitudes. The north striking intrusive contact dips 90 to 70 degrees eastward; but in the vicinity of the open pit it dips only 55 degrees east. Contact metamorphism of limestone is limited to recrystallization, with destruction of bedding features. The volcanic rocks (clastics, pyroclastics and flows) are hornfelsed with local lenses of garnet- epidote-actinolite-diopside-chlorite skarn. Intrusive greenstone sills, dykes and masses, and crosscutting dykes of andesite, alaskite, diabase and granodiorite are present. Northeast trending faults, dipping south, predominate.
The upper lens of the main deposit occurs as two distinct ore zones, separated laterally by about 30 metres of unmineralized skarn. The upper lens measures 104 metres in diameter, is 17 metres thick and dips 30 degrees east. Limestone abruptly terminates the mineralization down dip.
The middle lens is separated from the upper by 12 metres of barren, skarned volcanic rock through which passes a flat-lying thrust fault. The middle lens is 85 metres wide and 9 metres thick.
The lowermost lens lies along the gabbro contact and separated from it by a thin skarn rind. It has been explored for 165 metres down dip, where the lens thins considerably from a 12-metre maximum width near its upper limit (Property File - J.C. Lund, 1966).
Magnetite mineralization in the lenses is massive, with sharp contacts where enclosed by limestone. Contacts with volcanic and intrusive rocks are less distinct, with disseminated magnetite occurring at some distance away from the massive lenses, giving a gradational change in magnetite distribution. Bedding structures can in places be traced into magnetite. Ore locally passes outward into stringers along bedding planes or follows dykes and sills in limestone. Botryoidal structures are present, suggesting emplacement at low pressure and temperature by "gel metasomatism" (Open File 1988-28, page 44).
Small amounts of arsenopyrite with pyrrhotite, sphalerite, marcasite, cuprite, chalcopyrite and calcite are reported. A north striking fault south of the open pit hosts small amounts of iron and copper sulphides and cobaltite with cobalt bloom (erythrite). Minor pyrite, chalcopyrite and pyrrhotite accompanied by quartz are present. Jefferey (Minister of Mines Annual Report 1960, page 97) believes this latter mineralization to be later than the magnetite, and that the orebody is the result of successive mineralizing periods of silicates (skarn), oxides, sulphides and carbonate emplacement. Commercial ore has developed where the intrusive contact has locally the lowest dip, and where the bulge in the intrusion has caused a change in the strike of the layered rocks. In addition, northeast striking faults are believed to localize mineralization (Minister of Mines Annual Report 1960, page 97).
The limestone in the vicinity of the magnetite bodies is white to grey in colour and calcium high calcium in composition. Three limestone samples collected by Taywin Resources Ltd. in 1990, while exploring for precious metal bearing skarn zones, analyzed as follows in per cent (Industrial Mineral File - J.M. Huber Corp., 1990):
-----------------------------------------------
CaO 53.67 54.57 52.89
MgO 1.81 0.10 2.32
SiO2 0.45 0.14 0.02
Acid Insol. - 2.22 0.60
Al203 0.06 - -
Fe2O3 0.06 - -
MnO 0.02 - -
K2O 0.01 - -
Na2O 0.01 - -
P2O5 0.01 - -
TiO2 0.11 - -
Brightness:
Green Filter - 91.8 93.8
Blue Filter - 92.2 93.6
Amber Filter - 89.0 91.1
-----------------------------------------------
An article in the George Cross Newsletter No. 80 (1989) indicates the presence of gold and silver values. Dixon (1989) reports the presence of tellurobismuthite. Gold is found in pyrrhotite-pyrite-rich veins and pockets that postdate the magnetite. A sulphide-rich sample assayed up to 17 per cent copper, 2.9 per cent zinc, 0.2 per cent arsenic, 0.16 per cent cobalt, 200 grams per tonne silver and 32 grams per tonne gold (EMPR Bulletin 101, Appendix 4A).
Production between 1957 and 1967, was from both surface and underground, and included ore from the Kingfisher (092L 045) and Raven (092L 046). From 3,371,015 tonnes of ore mined, 1,676,060,554 kilograms of iron concentrate was shipped. Annual reports detail yearly ore produced. Iron content was about 58 per cent.
Bibliography EMPR AR 1913-282; 1916-341; 1918-475; 1919-371; 1924-225; 1928-375; 1929-379; 1930-296; *1952-228-231; 1956-117; 1957-A44,A48,68; 1958-A43,A48,57; 1959-A46,A50,132-133; *1960-A51,A56,90-100; *1961-A46,95-97; 1962-A47,A51,96-97; 1963-A47,A51,100; 1964-A53, A57,152; 1965-229; 1966-A48,A50,66; 1967-A50,A53,70-71
EMPR ASS RPT 1760, 2306
EMPR BC METAL MM00240
EMPR BULL 101, pp. 13, 57, 80, 83, 173, Appendix 4A, 6
EMPR EXPL 1989, pp. 141-145; 1992-51; 2002-29-40
EMPR FIELDWORK 1987, pp. 270,271; 1990, pp. 85-88
EMPR INDEX 4-121
EMPR MAP Preliminary Geological Map Alice Lake-Benson Lake Area, Jeffery, W.G., 1962
EMPR OF *1988-28; *1991-8; 1992-18, pp. 30-31
EMPR P *1989-3, pp. 56-58, 109; 1991-4, p. 228
EMPR PF (Claims of the Quastino Copper Gold Company Ltd.; Diamond drill sections, cross-section; Kingfisher and Merry Widow orebodies, Pit outlines, Mannix Co.; J. Lamb: Untitled reports, 1959, 1961; W.G. Jefferey & G.E.P. Eastwood: Field Report, (1961): Magnetite Occurrences in Benson Lake Area; J.C. Lund, (1966): Structural Geology of Empire Mine, M.Sc. Thesis, University of British Columbia; J.M. Huber Corp. (1990): Calcium carbonate division - laboratory data systems; private analytical report for Taywin Resources Ltd., 2 pages; Dixon, K. (1989): A Mineralogical Study of the Merry Widow Property, Vancouver Island; unpublished paper, the University of British Columbia; Taywin Resources Ltd., Diamond Drilling Report, July 1989; Taywin Resources Ltd., Geology of the Merry Widow, undated; Regional Geologist's Letter (Oct. 92) and notes (Jan.1991); Photos, 1992)
EMR MIN BULL 181 (1978) B.C. 121; 223 (1989) B.C. 175
EMR MP CORPFILE (Quatsino Copper-Gold Mines, Ltd.; Empire Development Co. Ltd.)
GSC BULL 172, p. 63
GSC MAP 4-1974; 255A; 1552A
GSC OF 9; 170; 463
GSC P 69-1A; 70-1A; 72-44; 74-8
GSC SUM RPT 1918 Part B, p. 35; 1929 Part A, p. 126
ECON GEOL Vol. 59, pp. 1298-1305; Vol. 60, pp. 124-148; Vol. 79, pp. 869-882
GCNL #80,#138(July 19),#132(July 11),#189(Oct.2),#205(Oct.25), #207(Oct.27), 1989; #58(Mar.23), #95(May 15),#135(July 15), 1992
N MINER Apr.27, 1992
PR REL Taywin Resources Ltd., June 15 and July 6, 1989 (located in Property File)
WWW http://www.infomine.com/index/properties/MERRY_WIDOW.html
Carson, D.J.T. (1968): Metallogenic study of Vancouver Island with emphasis on the relationship of plutonic rocks to Mineral deposits, Ph.D. Thesis, Carleton University, Ottawa
Dixon, K. (1989): A Mineralogical Study of the Merry Widow Property, Vancouver Island; unpublished paper, The University of British Columbia
Hudson, R. (1997): A Field Guide to Gold, Gemstone & Mineral Sites of British Columbia, Vol. 1: Vancouver Island, p. 187
Placer Dome File
Sangster, D.F. (1964): The Contact Metasomatic Magnetite Deposits of Southwestern B.C., Ph.D. Thesis, University of British Columbia
Wittur, G.E. (1961): Geology of the Magnetite Deposits of Empire Development Co. Ltd., Vancouver Island, British Columbia, unpub. B.Sc. Thesis, University of British Columbia
gad
17 years ago
NEWS GPG: Higher Grade Gold Values Intercepted at Merry Widow-Including DDHMW06-35 Grading 32.61 Metres of 8.06 g/t Gold
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 8, 2007) - Grande Portage Resources Ltd. (TSX VENTURE:GPG) ("Grande Portage" or "the Company") is pleased to announce partial assay results from its twenty hole follow up diamond drilling program at the Merry Widow Massive Sulphide Project on Vancouver Island, British Columbia conducted between Nov 15th and Dec 15th, 2006. Eight of the eleven 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.
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 showing 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:
MW06-31: 16.16 metres of 6.13 g/t gold, 5.80 g/t silver, 0.27% copper
Including: 1.63 metres of 19.57 g/t gold, 12.55 g/t silver, 0.41% copper
MW06-35: 32.61 metres of 8.06 g/t gold, 9.95 g/t silver, 0.76% copper
Alistair MacLennan, CEO, remarked, "I am delighted that our drilling continues to yield impressive results. These assays, in addition to those from the remaining 9 holes at the lab, will be welcomed as we move towards feasibility studies in 2007. In late spring, the next phase of drilling in the Merry Widow Open Pit area will commence with a series of step-outs to the known showings northeast and southwest of the Merry Widow Pit along a 3.2 kilometer trend defined by the Company's 2006 airborne geophysical survey and surface showings."
MacLennan further added, "We now focus on the much anticipated Old Sport Horizon. The next phase of drilling, to start within weeks, will be very exciting as we commence a 50-60 hole (20,000 metre) drill program. Drilling will be conducted from an existing active road network and will be the first time in over 30 years that this huge mineralized zone has been explored (utilizing new technologies) since the Coast Copper and Benson Lake Mines closed in 1973. While deeper holes will be generally undertaken up to 900 meters, the Old Sport Horizon zone is more laterally extensive (up to 7 km) and occurs as a relatively flat lying structure. We are optimistic that the Old Sport will add significantly to the Company's tonnage calculations and shareholder value."
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 Labs in North Vancouver, BC. The values displayed are weighted averages of the intersected zones and are not true widths. Gold is reported in grams per tonne and troy ounces per tonne. A factor of 31.10 grams equals 1 troy ounce was used to convert the gold values. Copper is measured by percentage.
DDHMW06-31 - mid point long road to coppery knob 624314 E, 5579818 N
Dip Angle -45 degrees
Azimuth 230 degrees
Total Depth 157.58 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
62.70 78.86 16.16 6.13 0.20 5.80 0.27
90.53 92.16 1.63 19.57 0.63 12.55 0.42
DDHMW06-32 - mid point along road to coppery knob 624314 E, 5579818 N
Dip Angle -55 degrees
Azimuth 230 degrees
Total Depth 197.21 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
62.65 65.57 2.92 9.67 0.31 11.86 0.55
74.44 76.49 2.05 12.83 0.41 8.54 0.28
DHMW06-33 - coppery knob site 624295 E, 5579768 N
Dip Angle -45 degrees
Azimuth 300 degrees
Total Depth 96.62 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
41.76 53.28 11.52 1.48 0.05 5.36 0.58
DHMW06-35 - coppery knob 624295 E, 5579768 N
Dip Angle -65 degrees
Azimuth 300 degrees
Total Depth 81.38 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
38.65 71.26 32.61 8.60 0.28 9.95 0.76
DHMW06-36 - coppery knob 624295 E, 5579768 N
Dip Angle -65 degrees
Azimuth 320 degrees
Total Depth 92.27 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
11.10 15.63 4.63 2.80 0.09 4.90 0.61
DHMW06-37 - coppery knob 624295 E, 5579768 N
Dip Angle -65 degrees
Azimuth 355 degrees
Total Depth 92.27 meters
INTERVAL Gold Gold Silver Copper Cobalt
FROM TO meters g/tonne Oz/tonne g/tonne % %
48.64 56.09 7.45 5.04 0.17 8.76 0.68 .020
DHMW06-38 - coppery knob 624295 E, 5579768 N
Dip Angle -65 degrees
Azimuth 015 degrees
Total Depth 81.38 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
15.94 16.92 0.98 8.15 0.26 1.7 0.19
DDHMW06-28 - Pit edge 624349 E, 5579844 N
Dip Angle -45 degrees
Azimuth 230 degrees
Total Depth 188.37 meters
Drill hole DDHMW06-28 was drilled as an offset of a massive sulfide pod
located on the upper access ramp to the coppery knob showing and
intersected disseminated pyrite which is interpreted as an alteration halo
to mineralization in the open pit. Deviation of the hole may have occurred
as the first 31 meters cored was through dump material.
DDHMW06-29 - Raven site 624349 E, 5579878 N
Dip Angle -45 degrees
Azimuth 330 degrees
Total Depth 154.53 meters
DDHMW06- 30 - Raven site 624349 E, 5579878 N
Dip Angle -60 degrees
Azimuth 330 degrees
Total Depth 154.53 meters
INTERVAL Gold Gold Silver Copper
FROM TO meters g/tonne Oz/tonne g/tonne %
104.52 107.80 3.28 0.88 0.028 6.38 0.93
Drill holes DDHMW06-29&30 were drilled between the Merry Widow Open Pit and
the Raven showing. Limited access due to severe snow conditions prevented
actual drilling of the Raven showing and further extensions to the
northeast. These two holes intersected skarn mineralization with
disseminated sulphides and massive magnetite, but returned no significant
assays values. The Company is formulating a ground electromagnetic survey
which would aid in delineating possible massive sulphide occurrences
between the known surface showings. The EM survey would be scheduled for
late spring to early summer.
DHMW06-34 - coppery knob site 624295 E, 5579768 N
Dip Angle -90 degrees
Azimuth 000 degrees
Total Depth 92.35 meters
No significant assays returned. The hole has been interpreted as intersecting a vertical faulted sequence as the RQD for the hole was generally less than 50% for most runs. The rock was very broken and fractured.
Grande Portage is nearing completion on negotiations with independent consulting groups for resource calculations, environmental baseline studies, and further helicopter airborne Mag and EM geophysical surveys. Information on these items will be updated soon.
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.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Mr. Zen
17 years ago
Grande Portage Resources Ltd.: Drilling Successfully Extends the Mineralized Zone Along the Merry Widow Trend
Friday December 22, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 22, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that since November it has completed 15 infill diamond drillholes in and around the Merry Widow open pit and 5 step out holes to locate the Raven showing massive sulphides.
ADVERTISEMENT
A total of 2,419 metres of additional drilling was undertaken. Of the 15 drillholes located at the Merry Widow pit, 8 were infill drilling to be used for resource calculations in 2007 and 7 were step-out drillholes onto the Coppery Knob showing. The 5 holes emplaced at the Raven showing were the first undertaken in this area by the Company and are 100 metre step-outs to the northeast from the Merry Widow pit along the Merry Widow trend. All of these holes successfully intersected skarn and variable massive sulphide mineralization. Full intersection widths, and assays will be available upon completion of the drill hole logging and receipt of assay reports.
Drilling has now stopped until January 2007. A proposed 60 hole program targeting the Old Sport Horizon has been submitted for approval. Further drilling on the Merry Widow trend will be also be permitted for at this time. The camp at the Kathleen Lake has been fully winterized to allow for year round exploration activity. As well, the Company is in discussions with Aeroquest Limited to complete an in-depth line by line analysis of its previously completed airborne magnetometer and EM geophysical survey and make recommendations; as well as extend upon the previously flown airborne geophysical survey so as to encompass the rest of the property by April 2007.
As a follow up to previously announced drillhole assays, the Company is pleased to report infill gold, silver and copper assay results from drillholes MW06-01- MW06-04. The infill samples were taken to enhance the understanding or the continuity of the mineralization encountered in these drillholes. The infill sampling provided no significant changes to drillholes DDHMW06-01 and DDHMW06-03 as they were reported by the Company in its August 29th, 2006 press release.
However, the infill sampling has significantly extended the mineralized zones encountered in drill holes DDHMW06-02 and DDHMW06-04. DDHMW06-02 returned a weighted average of 3.46 gpt gold, 4.81gpt silver and 0.21% copper over 46.89 metres while DDHMW06-04 returned a weighted average of 2.95 gpt gold, 1.93 gpt silver and 0.09% copper over 58.80 metres.
A complete summary of the first 23 drillholes around the Merry Widow open pit is displayed below:
DDh-01
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
4.78 7 2.22 6.37 6.96 0.134
----------------------------------------------------------------
50.97 56.74 5.77 5.1 12.81 0.862
----------------------------------------------------------------
DDh-02
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
13.46 60.35 46.89 3.46 4.81 0.22
----------------------------------------------------------------
includes
----------------------------------------------------------------
4.67 6.42 1.75 4.28 5.02 0.36
----------------------------------------------------------------
DDh-03
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
12.21 17.5 5.29 15.49 12.47 0.63
----------------------------------------------------------------
31.85 38.41 6.56 2.38 7.07 0.4
----------------------------------------------------------------
DDh-04
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
5.24 64.04 58.80 2.85 1.87 0.09
----------------------------------------------------------------
includes
----------------------------------------------------------------
1.01 95.2 21.0 1.01
----------------------------------------------------------------
1.03 31.5 17.1 0.66
2.06 11.53 13.92 0.71
----------------------------------------------------------------
DDh-05
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
1.45 72.66 71.21 1.8 5.93 0.35
----------------------------------------------------------------
DDh-06
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
1.15 34.45 33.3 1.87 4.89 0.32
----------------------------------------------------------------
Includes
----------------------------------------------------------------
4.95 9.95 5 8.76 24.4 1.45
----------------------------------------------------------------
DDh-07
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
0.5 100.05 99.55 2.81 4.96 0.28
----------------------------------------------------------------
Includes
----------------------------------------------------------------
0.5 41.45 40.95 6.53 11.3 0.62
----------------------------------------------------------------
DDh-08
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
1.53 87.48 85.95 3.83 4.94 0.26
----------------------------------------------------------------
Includes
----------------------------------------------------------------
6.32 69.34 63.02 5.22 6.66 0.33
----------------------------------------------------------------
DDh-09
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
28.85 63.09 34.24 5.06 9.61 0.51
----------------------------------------------------------------
DDh-10
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
26.88 64.63 37.75 3.03 4.28 0.2
----------------------------------------------------------------
includes
----------------------------------------------------------------
26.88 40.44 13.56 7.92 6 0.27
----------------------------------------------------------------
DDh-11
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
28.45 37.76 9.31 7.02 9.83 0.39
----------------------------------------------------------------
54.86 71.74 16.88 1.21 3.46 0.22
----------------------------------------------------------------
DDh-12
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
35.5 63.8 28.3 2.25 4.71 0.26
----------------------------------------------------------------
DDh-13
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
34.54 40.75 6.25 1.12 5.9 0.38
----------------------------------------------------------------
58.12 63.43 5.31 7.93 12.54 0.67
----------------------------------------------------------------
DDh-14
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
35.84 40.19 4.35 7.4 5.82 0.17
----------------------------------------------------------------
88.06 90.2 2.14 52.86 35.27 2.33
----------------------------------------------------------------
DDh-15
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
26.88 64.63 47.32 5.16 23.48 1.47
----------------------------------------------------------------
DDh-16
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
26.88 64.63 49.31 4.56 18.73 1.14
----------------------------------------------------------------
DDh-17
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
20.02 70.44 50.32 6.51 21.93 1.38
----------------------------------------------------------------
DDh-18
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
19.33 69 49.67 3.26 15.02 1.02
----------------------------------------------------------------
DDh-19
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
63.5 66.78 3.28 7.1 5.67 0.25
----------------------------------------------------------------
DDh-20
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
57.12 58.81 1.69 16.05 8.8 0.27
----------------------------------------------------------------
DDh-21
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
21.51 63.09 41.58 1.99 30.15 1.82
----------------------------------------------------------------
DDh-22
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
23.47 63.98 40.51 2.46 8.75 0.51
----------------------------------------------------------------
DDh-23
----------------------------------------------------------------
INTERVAL Gold Silver copper
FROM TO meters grams/tonne grams/tonne %
----------------------------------------------------------------
25.65 66.66 41.01 2.13 41.01 0.67
----------------------------------------------------------------
The Company has also received assay data from drillholes DDHMW06-24 to DDHMW06-27. These holes were drilled to test chargeability anomalies identified in the Company's 2005 induced polarization ground geophysical survey. These holes successfully intersected the contact of the Bonanza volcanics and Quatsino limestone, however, they were not able to reach the Old Sport Horizon which is located at the base of the Quatsino limestone in contact with the Karmutsen volcanics due to drillhole depths which exceeded the ability of the size of drill rig. It is expected that these drillsites may be revisited during the upcoming Old Sport Horizon drilling campaign which will employ a larger drill rig capable of reaching the targeted depths. The current drill rig on site will be used for additional drilling along the Merry Widow trend.
The Old Sport Horizon is a key geological unit (previous mining extraction used a 2% copper cutoff for ore, discounting recovered values of gold, silver, cobalt and iron) targeted by the Company for having significant tonnage potential. The location for two former producing underground mines, Benson Lake and Coast Copper, Grande Portage has successfully extended the known strike length to exceed 8 kilometres. The Company will aggressively test a portion of this strike length in the upcoming phase of drilling.
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.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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) 803-1775
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
Mr. Zen
17 years ago
Grande Portage Resources Closes Brokered and Non-Brokered Financing
Thursday December 7, 3:07 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 7, 2006) - Grande Portage Resources Ltd. (TSX VENTURE:GPG - News; "Grande Portage" or "the Company") is pleased to announce that it has closed the previously announced brokered private placement led by Pacific International Securities Inc. and including Dundee Securities Corporation (the "Agents") (November 7 and 15, 2006) to raise gross proceeds of $9 million, and it has closed a non brokered offering to raise a further $616,000, for a grand total of $9,616,000 (the "Offerings").
The Company has issued 4,250,000 flow-through units ("FT Units") of the Company at $0.80 per FT Unit to raise gross flow-through proceeds of C$3,400,000 (the "FT Offering"). As previously announced, each FT Unit consists of one (1) flow-through common share (a "FT Share") of the Company and one half of one common share purchase warrant (one whole warrant being a "Warrant"). Each Warrant is exercisable to purchase one additional non flow-through common share at an exercise price of $1.10 per share, if exercised on or before June 7, 2008. The Company has also issued 8,000,000 non flow-through units (the "Units") at $0.70 per Unit to raise gross proceeds of $5,600,000. Each Unit consists of one common share of the Company and one-half of one Warrant.
The Company paid the Agents a commission of 7% in cash and Units, and also issued to the Agents options to purchase common shares equal in number to 8% of the number of FT Units and Units sold under the brokered offering, at an exercise price of $0.85 per share until June 7, 2008.
The Company has also issued under the non-brokered private placement another 880,000 Units at a price of $0.70 per Unit to raise gross proceeds of an additional $616,000. Each Unit shall also consist of one common share of the Company and one half of one Warrant. There was no finder's fee paid in connection with the non brokered financing. All Warrants have the same terms and conditions and expire on June 7, 2008. All securities issued have resale restrictions until April 8, 2007.
The Company intends to use the net proceeds from the Offerings to advance the Merry Widow properties to feasibility stage. Specifically, the Company will grid drill the Merry Widow along strike and length for the 3.5 kilometer extension. The Company shall also drill extensively along the 8 kilometer strike length of the Old Sport Horizon. The funds will also be allocated for the expansion of airborne geophysics, fieldwork, environmental and metallurgy, property management, logistics and general working capital. The gross flow-through proceeds raised from the FT Offering will be used for Canadian exploration expenditures (as defined in the Income Tax Act (Canada)) and will be renounced for the 2006 taxation year.
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". These statements involve risks and uncertainties due to the inherent nature of the Company's mineral resource exploration activities, and therefore are subject to change at any time. The Company's actual results may differ materially from the expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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) 803-1775
Website: www.grandeportage.com
--------------------------------------------------------------------------------
Source: Grande Portage Resources Ltd.
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