VANCOUVER, Oct. 22, 2013 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") announces that it has filed its 2014 Plan of Operation for Mining Activities at the Herbert Gold project near Juneau, Alaska.
Subject to an improved junior financing marketplace, work proposed for 2014 consists of up to 30,000 feet of diamond drilling, further detailed mapping and surface sampling and trench sampling as was done in 2010-2012. The program will consist of up to three drill rigs, two larger rigs and one smaller, more portable rig. The larger drills will use timbered drill pads, with most pads being used for multiple holes with the average length of hole about 550 feet.
Project highlights:
- NI#43-101 completed (Indicated resource of 821,100 tonnes containing 182,400 oz of gold at 6.91 g/t. Inferred resource of 51,600 tonnes containing 12,800 oz of gold at 7.73 g/t)
- The system consists of at least 5 parallel vein structures all of which are open to length and depth.
- Grande Portage has earned a 65% interest in the Herbert Gold Property. Its joint venture partner, Quaterra Resources Inc. (TSX-V: "QTA", NYSE Amex: "QMM"), holds the remaining 35% interest.
- Herbert Gold is one of Alaska's more promising prospects occurring in a remarkably unexplored district.
- 3rd year of baseline environmental water studies is now complete.
Drilling results have confirmed the existence of all the major elements of a complex mesothermal gold-quartz vein system with numerous targets. The Company has drilled a total of 108 diamond drill holes from ten different platforms since 2010. The results have been most favorable with numerous multi-ounce gold assays returned. To date, initial metallurgical studies have yielded gold recoveries in excess of 94%.
The Herbert Gold Property is host to abundant composite vein-fault structures containing ribbon structure quartz-sulfide veins and lies prominently within the 100 mile long Juneau gold belt, which has produced nearly seven million ounces of gold through a total depth range of thousands of feet.
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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SOURCE: Grande Portage Resources Ltd.