Grande Portage Announces Update
VANCOUVER, Dec. 6, 2011 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to confirm that it has completed and received results of its previously announced ULF (ultra low frequency) survey of GPG's land position in the Merry Widow Mountain area.
A complete summary which included data retrieval, compilation and interpretation has been received by Grande Portage. After review by management and the Company's geological consultants, 14 new claims totaling 5111 hectares have been acquired in the surrounding area. Exceptionally high voltage return values supports the decision to selectively acquire these claim blocks. Rock samples taken from outcrop on a position of interest are currently being assayed. Prospecting teams will be investigating each position of interest as soon as weather access permits. The survey has defined 33 high priority targets where follow up reconnaissance and drilling has been recommended.
The purpose of the survey was to identify and determine extensions of known deposits as well as identify potential new hard rock structures which can then be drilled to potentially increase the Company's NI 43-101 compliant resource estimate dated November 30, 2008 (Giroux/Raven). The survey included the collection of almost 1500 data sets from 20 positions.
The Company is also pleased to announce the remaining assays from its 2011 drilling program at the gold rich Herbert Glacier project in Alaska. The results are from the last 3 holes to be reported from the F and G platforms.
One intercept in drill hole 11F-1 (97.5m-99.05m) assayed 4.35g/t gold over 1.55m and drill hole 11G-8 (177.27m-178.45m) assayed 50.0 g/t silver and 0.42 g/t gold over an intercept of 1.18m. Also, from drill hole 11G-8 the Company received an assay of 3.43 g/t gold and 10.4 g/t silver over a 1.35m interval (181.22m-182.57m). The best assay from drill hole 11F-2 was 3.2 g/t gold from 4.52m-5.36m (0.83m intv.).
The Company also wishes to clarify a previously reported result from drill hole 11I-4 (announced October 12, 2011). Instead of the quoted interval 154.22m-155.18m, the correct interval is 3.04m from (151.18-154.22m) (1.73m true thickness) which showed a weighted average of 3.42 g/t gold and 1,328.3 g/t silver. Contained within that zone is a 0.93m interval (151.77-152.70m) which shows the strongest values for silver (4,010g/t), lead (3.18%), zinc (3.12%), copper (0.38%) and antimony (0.62%) received to date on the Herbert Glacier project. Gold also showed well at 7.75 g/t over that interval. Geologically, this intercept occurs near the western limit of exploration on the Main Vein immediately beneath the major contact between the normal host quartz diorite and low-grade metasediments and volcanics. This represents a new target type defined by bonanza grade mineralization produced by the sudden changes in geochemistry, and possibly pressure and temperature at the lithologic contact described above. This hypothesis will be further tested by drilling in 2012.
Chief Project Geologist Carl Hale, CPG and consultant Charles Hawley, Ph.D have identified numerous target areas to be drilled in 2012. The Company intends to use two drills throughout the next phase. A drill with depth capability of approximate maximum 1500-ft (458m) using NQ diameter has been contracted with Spring Valley Drilling of Hot Springs, MT. This will be used to test identified structures including Main, Goat, and Deep Trench veins on 150 to 200m centers for vein extensions laterally and at depth. A portable drill which requires no extensive pad work has also been contracted with Core One Drilling of Mt. Sopris, CO. This will be used to drill shallower (50-150m) holes as infill with purpose of outlining ore shoots in identified structures. Holes will be drilled from 20' x 20' constructed pads of which at least 7 new pads are planned. The Company and its 43-101 contractor are considering whole core assays on samples from the portable drill. Minimal permit work is necessary.
The Company will continue using Metallic Screen assay for gold and ICP for distinctive, as As, Ag, Pb, and W, and common elements. The samples will be submitted to the new ALS Minerals Prep Lab in Anchorage, AK, with samples under direct control of GPR prior to delivery to Alaska Airlines cargo facility in Juneau, AK.
Grande Portage and Quaterra Resources, Inc. (TSX-V: QTA, NYSE Amex:QMM) formed a 65%/35% joint venture for the further exploration and development of the property with each party bearing their proportionate costs.
This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years experience and a Qualified Person as defined under NI #43-101. Mr. Hale is supported 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
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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.
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