Grande Portage Resources Ltd. Successfully Intersects Multiple Vein(s) in
Each Hole Drilled---Likely to Add a 2nd Drill to Program
VANCOUVER, Sept. 8 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce a preliminary update from its diamond core drilling program at the Herbert Glacier prospect north of Juneau, Alaska. Six NQ holes have been completed and a seventh is in progress:
Hole Platform Depth (m) Veins 101 A 152.3 Ridge and Main 102 A 201.8 Ridge and Main 103 A 45.7 Ridge 104 A 341.3 Ridge, Main, Deep Trench 105 A 183.5 Ridge and Main 106 A ~173.7 Ridge and Main 107 A ~198 Ridge and Main Total ~1296.3 (~4253ft)
Quartz veins and sulfidized shear zones have been encountered in every hole at predicted intervals for targeted mineralized zones. The Main or Number 1 vein has been known since about 1980 when it was discovered as it was exhumed from glacial cover. Carl Hale, CPG., traced the Main vein on surface in 2007 for more than 800m (approx 2,625 feet). Its presence, strength, and continuity have been confirmed in all holes drilled thus far in 2010 (except shallow hole No. 103 which was targeted for a separate vein).
The Main vein was previously explored in twenty drill holes reported in historic programs conducted by geologist George A. Moerlein for Houston Oil and Minerals (later Tenneco Minerals Company) and Echo Bay Mines Ltd. during 1987-1989. So far, the 2010 holes have been targeted generally at the Main Vein and are not known to twin any specific Houston or Echo Bay hole.
A parallel vein in the hanging wall of the Main Vein had originally been mapped locally (Hale, 2007). This quartz vein has been discovered in each of the 7 Platform A holes where it contains sulfides and visible free gold demonstrating its continuity. This has now been named the "Ridge Vein" located about 100m north of the Main Vein. The Ridge vein is now believed to be at least 300m (approx 985 feet) long.
In addition, the Deep Trench Vein was known previously only from a strong but poorly exposed vein structure about 200m south of the Main Vein. In this drill program, it has been encountered as a strong complex vein between 321m-326m in the deepest hole drilled at the prospect. This vein is strong and will be followed up in holes drilled from the B platform. The move to the B platform is tentatively scheduled for September 8th or 9th.
Assay results are pending from ALS Chemex for holes 101 through 105; holes 106 and 107 are being sampled and will be submitted shortly. Initial results are expected in the coming weeks.
Due to the intensity of mineralization and identification of strong new targets such as the Deep Trench and the desirability of completing the program with clement weather and reasonable daylight hours this season, the addition of a second diamond drill is being considered and a decision is imminent.
Carl Hale, CPG, a geologist of more than 40 years experience, will direct the field program and will act as the qualified person as that term is defined under NI 43-101. Mr. Hale will be backed up by C. C. Hawley, Ph.D., CPG of Hawley Resource Group, Inc. and Alaska Earth Sciences, Inc. of Anchorage, Alaska.
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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