Nov 24, 2010
Grande Portage Resources Ltd. Drills 17.1 gpt Au over 1.14 metres
VANCOUVER, BC, November 24, 2010 - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce further results from its diamond core drilling at the Herbert Glacier prospect north of Juneau, Alaska.
The results from the drilling program continue to confirm the identification of major elements of a complex mesothermal gold-quartz system with numerous targets. The Company is pleased to release drill hole data from the C, D and E Platforms at its Herbert Glacier project.
Highlights of this phase of the program include an intercept (119.76 to 120.90 m) of about one-half ounce gold (17.1 gpt) material in hole 10C-1. Drilling on Platform C also intersected a vein of about 0.86M thickness that contained 6.17 Au gpt. At least 4 more holes should be drilled to adequately appraise Platform C. In addition, drilling on Platform D intercepted a quartz-sulfide vein of about 4 metres true thickness and maximum Au content of 6.55 gpt Au over 1.15M. (Platform D is about 180M due east from Platform A and 350M N85E from Platform C. Drilling from Platforms A, C and D track Herbert's Main Vein for about 750M intercepting the vein at three general locations).
Drill hole number 10C-2 was planned to test the Main Vein about 200M from the mineralized intercept in 10C-1 but was abandoned in order to pursue the Deep Trench vein from Platform E. (The Deep Trench vein had a plus 9 gpt intercept in hole 10B-2 and a mineralized vein of >10 meters thickness in 10A-4.) While the Company is gratified that the hole from Platform E was mineralized (see chart below) the hole had to be abandoned due to drilling conditions at a depth of approximately 100M near the projected position of the Deep Trench vein. The Company believes that had the hole gone to depth, it would have allowed projection of Deep Trench vein for about 600M along strike. Intercept of the Deep Trench vein in 10A-4 already suggests a minimum depth projection of 300M.
Highlights of the Platform C, D and E holes are shown in the table below. The intervals are approximate true widths. One previously unassayed sample from Dhole 10A-7 is also presented. An earlier sample from the same footage assayed 4.25 gpt Au. The assays below are represented in grams per metric tonne.
On review of this year's program, consultant C. C. Hawley commented: "Herbert Glacier is more than a series of gold enriched quartz veins, it is potentially a mining district." Hawley further noted: "The Main Vein is still very much underexplored. It deserves more drill testing especially to the west where we have consistently found free gold quartz veins in the outcrop. Furthermore, two veins identified only in reconnaissance, North and Goat Creek, are in structures that are just as strong as those that the Deep Trench and Main Veins. Those structures should also be tested." The Company intends to carry forward the recommended exploration program in 2011.
In the weeks ahead, Grande Portage will be updating its website and as such will post various maps, schematics including historical, past and future drill locations to assist interested parties with tracking the Company's progress.
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.
Grande Portage Resources Ltd.
Grande Portage Resources Ltd. has the right to earn from Quaterra Resources Inc. (TSX-V: "QTA", NYSE Amex: "QMM") a 51% interest in the Herbert Glacier Property by incurring Expenditures on the Property of not less than USD$750,000 on or before June 15, 2011. The Company can earn an additional 14% interest in the Property for an aggregate 65% interest in the Property by incurring Expenditures on the Property of not less than an additional USD$500,000 on or before June 15, 2012.
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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