Grande Portage Resources Ltd. Announces Update
VANCOUVER, Aug. 16 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce that last week it commenced drilling at its Herbert Glacier gold-in-quartz vein project. The project is in the Juneau Gold Belt approximately 30km (18mi) NNW of Juneau, Alaska, and 42km (26mi) SSE from the Kensington Mine which has just announced commercial production of gold. The drill program is proceeding as planned and the Company will keep investors periodically updated as the program ensues.
In addition, Grande Portage has received written approval from the Ministry of Energy, Mines and Petroleum Resources to conduct a 10,000 tonne bulk sample at its Merry Widow deposit on the north end of Vancouver Island, BC. The Company had previously completed a 5-tonne test sample which was collected from the north edge of the open pit, in an area locally referred to as "Copper Knob", a prominent exposure of semi to massive chalcopyrite mineralization. The grades and recovery are listed below.
---------------------------------------- Mineral Head Grade Recovery (%) ---------------------------------------- Au 9.9 g/t 95.1 ---------------------------------------- Ag 74.0 g/t 88.9 ---------------------------------------- Cu 5.9% 88.0 ----------------------------------------
The Company plans to ship the bulk sample to an operating mine for processing by flotation methods to determine concentrate grades and metal recoveries at an operating mill complex. After the sample is processed the Company will consider sending more material or review the viability of a small-scale mining operation at the past producing Merry Widow Mine.
The technical information provided in this news release was reviewed by Wesley Raven, PGeo who serves as a qualified person for the purposes of NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS ---------------------------------- Ian Klassen, President
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
For further information: Mr. Ian Klassen, Phone: (604) 899-0106, Email: [email protected], Website: www.grandeportage.com
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