VANCOUVER, June 28, 2011 /CNW/ - Grande Portage Resources Ltd. (TSX-V
GPG) ("Grande Portage" or "the Company") is pleased to announce the
completion of their first diamond core hole (11E-1) of the 2011 drill
campaign at their Herbert Glacier project. The hole is their first to
test the western end of the Deep Trench Vein and was successfully
completed at 407' (124.05m) T.D.
Project geologist Carl D. Hale had predicted the Deep Trench
intersection at about 110 meters in a south-directed -45° drill hole.
Including hanging and footwall alteration zones, the vein intersection
found was from 342' to 380' (105.5-117.2m) with the midpoint at about
359 feet (110.7m). Strong quartz-veined intervals are found from 352
to 355 feet (108.6 to 110.7m), also 365-368 feet (112.6-113.5m) and
372-377.5' (108.6-109.5m). Initial inspection showed visible gold in
several locations throughout the mineralized intercepts.
Split core samples from the zone will be submitted to ALS Minerals Prep
lab in Fairbanks, AK for metallic screen (gold) and ICP analyses.
Expedited analyses will be requested.
A second drill hole (11E-2) at -60° S from the same platform is
underway. The 2011 Pad E holes will augment information gained from
hole 10A-4 drilled in 2010. Hole 10A-4 discovered about 10 meters of
mineralization in the Deep Trench vein about 200 meters eastward along
strike from the 11E-1 hole.
The Herbert Glacier project is in the Juneau Gold Belt about half way
between the historic A-J Mine at Juneau and Coeur's Kensington Mine.
The target of the Herbert project is a series of strong E-W striking
gold-quartz veins hosted within a quartz diorite body.
In 2010 Grande Portage entered into an agreement with Quaterra Resources
Inc. (TSX-V: "QTA", NYSE Amex: "QMM") wherein GPG has the right to earn
a 65% interest in the Property and the Lease by incurring Expenditures
on the Property of not less than USD$1,250,000 on or before June 15,
2012. GPG intends to earn its 65% during this summer's drilling
program. If Grande Portage acquires an interest, then Grande Portage
and Quaterra will form a joint venture for the further exploration and
development of the project, with each party bearing their proportionate
share of costs, and a dilution formula will be applicable to any
non-contributing party to reduce such party's joint venture interest.
This release was prepared by senior GP consultant Charles C. Hawley, Ph.
D. with assistance from Carl Hale, QP, and Catherine McClusky, Project
Carl Hale, CPG, a geologist of more than 40 years experience, is
directing the field program and will act as the qualified person as
that term is defined under NI 43-101. Mr. Hale will be 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
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS
THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
SOURCE Grande Portage Resources Ltd.
For further information:
Mr. Ian Klassen
Phone: (604) 899-0106