Feb 07, 2006
Grande Portage Resources Ltd. Announces 3D I.P. Survey and Rock Sample Assays Results
Helicopter Airborne Geophysical Survey/Diamond Drill Program To Commence
Vancouver, B.C., February 7, 2006: Grande Portage Resources Ltd., (TSX-V "GPG") ("Grande Portage" or "the Company") is pleased to announce that it has received and reviewed the final report from SJ Geophysics Ltd. of a 3D I.P. geophysical survey completed over a new zone of mineralization at its
Merry Widow Project near Port Hardy on Vancouver Island, BC. It has also received final assays for rock and silt samples collected during the program completed in November.
The I.P. survey consisted of 7 north-south trending lines, between 100-200 metres apart, totaling 8.85 kilometres. The survey was designed to test a new area associated with the Keystone Intrusion. Two primary targets were identified. The first in the northwest portion of the grid was just captured with this survey and the grid needs to be extended to the northwest. The second target is very significant as it covers almost a third of the grid in the southern half, extends to a maximum interpreted depth of 250 m, trends northeast-southwest and remains open in both these directions. To date it measures almost 400 x 700 metres. Further work including grid extensions, geological mapping, and diamond drilling will ensue.
The assays the company received were from the road zone, an alternate zone of of mineralization that trends east-west. Mineralization at the road zone consists of massive sulphide (pyrrhotite, chalcopyrite, pyrite) hosted in mafic rocks along an east-west trending structure. The structure noted
was up to 15 metres wide and consistently returned good copper-cobalt values ranging from 0.031% to 0.877% copper and 0.01 to 0.08% cobalt.
Most of the samples returned low but detectable gold ppb values while sample BL 21 yielded 20,007 ppb gold. The Company has been informed by the lab it has determined that gold from these samples likely occurs in nugget form. The Company will adjust its method of analysis to ensure accurate results. All samples were submitted to Acme Analytical of Vancouver for analysis.
A total of 30 rocks were collected.
13 silt samples were collected from active drainages within the survey area. The results confirmed the presence of a mineralized system as many of the samples yielded highly anomalous gold-coppercobalt and arsenic values, much higher than background values with gold ranging from a low of 1.2 ppb to a high of 458.9 ppb and copper ranged from 30.5 ppm to 1,012.6 ppm. Silt sampling is an effective tool in this region with its plentiful rainfall and more will be conducted in upcoming programs.
The Company is extremely pleased with the results and continues to digitize the database incorporating the latest results.
Presently Grande Portage is awaiting the final contract for a helicopter airborne Mag-EM geophysical survey to be flown in the next few weeks over a large portion of the property. In the interim, the Company is initiating the permitting for up to a 24 hole diamond drill program. 8-10 drill holes will
be targeted based upon the recently defined, I.P. geophysical survey and rock samples. An additional 4 holes will be targeted on the new massive sulphide CU-CO-AU road showing. As well, 10-12 holes will focus on the Cu-Au potential in the hangingwall of mineralization associated with past producing pits.
This news release has been approved by Warren Robb, P.Geo., the Company's project geologist and NI 43-101 designated person. Assays were done by Acme Analytical Labs of Vancouver, BC.
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a mineral exploration and development company focused on exploration in areas within Canada, and in particular British Columbia, which have the potential for primary discoveries of gold and base metal projects. Grande Portage is operated by experienced managers and professionals who have been effective in discovery, mine development, and mining operations throughout North 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.
For further information please contact:
Phone: (416) 832-0442
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.