Oct 22, 2010
Grande Portage Resources Ltd. Announces Initial Drilling Identifies Major Elements of a Complex Mesothermal Gold-Quartz System with Numerous Targets
VANCOUVER, BC, October 22, 2010 - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce initial results from its program of detailed geologic studies and diamond core drilling at the Herbert Glacier prospect north of Juneau, Alaska.
The initial results from our drilling program confirm that we have identified major elements of a complex Mesothermal gold-quartz system with numerous targets. Detailed geologic mapping and analysis of aerial photographs has been completed over about the southern two-thirds of the most intensely mineralized part of the ninety-one claim Herbert property. Three master vein-faults of approximate E-W strike and steep N dip have been identified as the Floyd, Deep Trench, and Main structures. The Deep Trench and Main structures have been mapped over strike-lengths of about 2100 m and vertical distances of several hundred meters. Subsidiary structures such as the Ridge vein are subparallel to the main structures and are themselves attractive targets for mineralization. Reconnaissance has identified at least two more master vein-faults, tentatively named Goat Creek and North, to the north of the detailed studied area.
Thus far only the Main vein-fault and the subsidiary Ridge vein have had any significant amount of drilling, although two intercepts on the Deep Trench vein are significant. The identification of two new mineralized master vein-faults, Goat Creek and North, in reconnaissance country, is also important. Project geologist Carl Hale notes that: "Only a fraction of the mineralized area has had a drill hole."
As of October 21, thirteen NQ holes have been completed and two more are currently being drilled. The company is currently awaiting assays results for 6 more holes. Because of steep terrain that limits the numbers of setups the holes were drilled in fan drill fashion from five pads: Seven from Pad A, three from Pad B, two from Pad C and two from Pad D.
Complete assays have been received only from Pads A and B. Intercepts from Main vein on Pad C are strongly mineralized and accelerated assays have been requested. Highlights of Pad A and B holes are shown in the table below. The intervals are approximate true widths.
The Ridge vein is a quartz vein with little alteration; it contains galena, sphalerite and trace amounts of visible Au. Although narrow, the vein has continuity (at least 200m on strike) and grade. Hale notes: "Preliminary results suggest that the vein is widening significantly with depth and shows a more extensive alteration halo." The Main Vein was the primary target in the 10A holes but in this area it is mainly a sulfide bearing alteration zone. It remains a valid target to the east and west.
The most significant drill intercept from Pad A was in the Deep Trench structure which was found between 329 and 341.36m--12.36m thickness--about 300m down drill depth and about 300m vertically below outcrop (Table below). A split from the Deep Trench vein was also hit from Pad B (9.40 ppm in hole 10B-1 with other anomalous values in holes 10B-2 and 3). Another drill hole directed to the Deep Trench structure is planned for Pad E. This hole is projected to intercept the structure at about 100-120m below an outcrop area with well-mineralized quartz-sulfide veins up to 10m wide.
Detailed Assay Log on part of 10A-4 between 329-341.36, (Deep Trench Vein): The intervals are approximate true widths.
Detailed mapping by project geologist Carl Hale along the trend of the Main Vein both east and west of the 10A area suggests that drilling maybe more successful in those localities than in the quartz-vein poor area near Pad A. Drill holes from 10D Pad intersected sulfide-rich veins along the trace of drill holes 10D 1 & 2. To the west in the vicinity of C Pad the Main Vein appears to occupy two sub parallel faults here called N and S Splits.
Drill hole 10C-1 has strong veins that may be the downdip extensions of the exposed N and S splits. Each of these veins has about a 1.3m central zone of quartz enclosed in a sericite-sulfide halo: Very strong veins were intercepted, respectively, from 101.8 to 104.3m and 119.28 to 121.54m in Drill hole 10C-1. Other mineral intercepts have been found in DH 10C-2 where drilling is still in progress.
Weather related project termination will be on or about October 25. Hale concludes that strong mineralization can be found throughout the large property and that there are numerous unevaluated prospects that should be drilled.
Carl Hale, CPG, a geologist of more than 40 years experience, directs the field program and acts as the Qualified Person (QP) as that term is defined under NI 43-101. Mr. Hale is 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
For further information please contact:
Mr. Jonathan Buick
The Buick Group
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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