VANCOUVER, Oct. 10 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG)
("Grande Portage" or the "Company") is pleased to announce the following
IP Survey over Ni-Cu-Co-Cr Anomaly Completed
A crew from SJ Geophysics Ltd. recently completed a 3D induced
polarization geophysical survey over a 2km x 4km grid centered over a magnetic
high. The area covered by the Mag high consistently yielded anomalous
Ni-Cu-Co-Cr in silt geochemical samples. The survey was required because much
of the area is covered by limestone and basalt rocks that are not likely the
cause of the geochemical values. Preliminary prospecting has discovered a
gabbroic unit that is believed to be the source of the anomalous silt sample
results. Results should be available in four to six weeks. The grid for the IP
survey is located south of Lac Truite, on the east side of the Benson River
valley approximately four kilometres southeast of the Merry Widow open pit.
A first phase program has been completed on the 100% optioned Scrutor
Claims, west of the Company's Cherry claims. This program is being directed by
J.T. Shearer, M.Sc., P.Geo. To date, a total of 64 rock samples, 7 silt
samples, 2 pan concentrates and 25 soil samples were collected.
The first phase program was designed primarily to prospect, map, sample,
and extend previous massive sulphide discoveries made during the 1980's. The
initial discovery of the Scrutor gold prospect was made in the 1940's.
Subsequent work by MineQuest Exploration Associated Ltd. (1986-1998) located
additional discoveries and to date three zones have been mapped; Discovery,
Camp and Cadmium. At the Discovery Zone, rhyolite breccia with disseminated
pyrite has returned values of up to 8.7g/t gold over 1.0 metres. In addition
massive sulphide veins discovered in the 1940's returned values in the range
of 1.0%-2.0% copper and up to 4.5 g/t gold. At the Camp Zone, rock and silt
samples have returned anomalous arsenic values. The Cadmium Zone comprises
rhyolite float with greenockite, a weathering product of cadmium-rich
sphalerite, with values of up to 13.0% zinc.
During the recent program, the west part of the property was found to be
underlain by an extensive rhyolite unit of the Jurassic Bonanza Group. One
rock sample assayed 1.49% Cu and 5.4 g/tonne Ag with anomalous As. The host
rock is andesite with disseminated chalcopyrite with some malachite staining.
Follow-up work will be conducted. Soil samples were collected at 50m
reconnaissance spacing. Two anomalous soil samples, up to 629ppb Au, were
found downslope from a brecciated white rhyolite unit. Closer spaced soil
samples will be taken in this area. Rock chip samples of abundant pyrite
(semi-massive pyrite) in volcanic conglomerate and white rhyolite returned
slightly anomalous gold (up to 40ppb Au), silver (up to 1.4 ppm Ag) and
molybdenum (up to 123 ppm Mo) which will also be mapped in more detail.
This program successfully expanded the known showings and an evaluation
of the sample results in conjunction with the airborne geophysical magnetic
and electromagnetic surveys will form the basis for diamond drilling later
this year, weather permitting. The airborne geophysical survey currently being
flown by Aeroquest Ltd. on the Company's Cherry Claims, which lie east of the
Scrutor Claims, has been modified to also cover the Scrutor claims and will
entail approximately 350 line-kilometres of airborne coverage. The Scrutor
claims cover 2,050 hectares, and are located in the Alberni Mining Division on
Vancouver Island approximately 30km east-southeast of the Merry Widow pit.
Drilling at Merry Widow
Permitting for additional drilling in and around the Merry Widow pit and
related showings is ongoing. The company plans to test the South Pit Zone, the
Bluebird 2 Zone and IP targets of merit from the recently completed survey
over the copper-nickel showing south of Lac Truite. Surface grab samples
collected from the South Pit Zone returned up to 9.73g/t gold, 11.4 g/t
silver, 0.225% copper and 0.172% cobalt. Surface samples collected from the
Bluebird 2 Zone assayed up to 7.88 g/t gold, 6.6g/t silver, 0.597% copper and
0.115% cobalt. The Company anticipates receiving the necessary permits to
drill shortly and intends on completing the program prior to the end of the
Recently, two of the Company's consulting geologists, along with
assistants, visited the newly optioned Pass Property near Smithers, B.C.
Several rock grab samples were collected from various trenches and were
submitted to the laboratory for analysis of both precious and base metals. The
Pass property hosts epithermal/mesothermal quartz-sulphide veins cutting
intrusive rocks with vein widths varying from approximately 1.0 to 2.0 metres.
Previous surface sampling and trenching returned values of up to 42.76 g/t
gold and 118.7 g/t silver from 1.0 metres chip samples while previous grab
samples returned up to 9.12% zinc and 14.18% lead. A full description of this
gold-rich massive sulphide property and the showings observed will be
forthcoming in future releases.
George Nicholson, P. Geo., is the qualified person for this project and
has reviewed and verified the contents of this news release.
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a mineral exploration and development
company focused on massive sulphide exploration in British Columbia. Grande
Portage is operated by experienced managers and professionals who have been
effective in discovery, mine development, and mining operations throughout
North and South America, Africa, Europe, and Central Asia. The Company is well
financed with no long term debt. More information is available online at
ON BEHALF OF THE BOARD OF DIRECTORS
Alistair MacLennan, Chairman
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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
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For further information: For investor relations inquiries: Ascenta
Capital Partners Inc., Trent Dahl, Tel: (604) 684-4743 Ext. 228,
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