Symbol: GPO TSX-V
VANCOUVER, Feb. 26 /CNW/ -
Gold Port Resources Ltd. (The "Company")(TSX-V:GPO) is pleased to
announce the resumption of exploration activity at the Akaiwong Project,
Guyana. A D-6 is currently removing surface obstruction over an area
approximately 500 by 500 meters in preparation for the initiation of a Phase
II drill program. Road access is being improved in an effort to maintain a
smooth chain of supply. Upon completion of this first phase, the Company owned
Acker MP-8C rig will be moved into place for what is anticipated to be a 50
Approximately 200 meters of core from the 2007 drill program at Akaiwong
have been submitted to Met-solve Laboratories Inc. of Burnaby, British
Columbia for testing. Test work will include gravity separation of 15 meter
composites to determine gold recoverability. Results will be available in the
The Company has retained Mr. Gregg Powlan as Project Manager. Mr. Powlan
has a Master of Science Mineral Engineering Degree from the New Mexico
Institute of Mining and Technology, a Professional Degree Geological
Engineering from the Colorado School of Mines, and a Bachelor of Science
Geology, University of California, Santa Cruz. Mr. Powlan has extensive
experience in the resource industry including three years of work in Myanmar
with Ivanhoe Myanmar Holdings Ltd. at the Monywa Mine site. He has extensive
experience in ore reserve calculation, pit planning, and hydrological
Corporate geologists have established a base camp at the Groete Creek
Project, located near Georgetown Guyana. The Groete Creek Project was drilled
between 1995 and 1996 by Caribbean Basic Industries Ltd., on behalf of Coeur
d'Alene Mines Corp. A basic project reconnaissance program has been completed
and seven of 17 previously drilled holes have been located. Historical drill
data is being compiled and processed using modern software. An exploration
drill program will be designed from this evaluation. Access to the project
will allow the locating of heavy equipment when required. As per the agreement
between the owner and the Company, three large excavators are currently
operating a small scale gold recovery plant on a portion of the project.
The contents of this press release have been reviewed by Mr. Allen
Ambrose, a Qualified Person as per NI 43-101 and a director of the Company.
On Behalf of the Board of Directors of Gold Port Resources Ltd.
Adrian F.C. Hobkirk
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and therefore does not accept
responsibility for the adequacy or accuracy of the content of this press
release. This news release contains certain "forward-looking statements"
within the meaning of Section 21E of the United States Securities and Exchange
Act of 1934, as amended. Except for statements of historical fact relating to
the Company, certain information contained herein constitutes forward-looking
statements. Forward-looking statements are based upon opinions and estimates
of management at the date of this press release, and are subject to a variety
of risks and uncertainties and other factors which could cause actual results
to differ materially from those projected in the forward-looking statements.
The reader is cautioned not to place undue reliance on forward-looking
statements. This news release is not an offer to buy or sell any securities.
We seek safe harbour.
For further information:
For further information: Adrian F.C. Hobkirk, President and Chief
Executive Officer, 510 Burrard St., Suite 908, Vancouver, BC, Canada, V6C 3A8,
Tel: (604) 684-1782, Fax: (604) 408-9473, Toll Free: 888-898-4788,