Continuing High Grade Gold Intercepts Encountered in Herbert Glacier Property, Juneau Gold Belt
VANCOUVER, BC, October 12, 2011 -- Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce that it has received additional assay results from its Herbert Glacier gold project in Alaska. The new high grade results were found in DDH 11I-4 and DDH 11I-5 and contained sections with highly visible gold in quartz.
One intercept in drill hole 11I-4 (144.21-145.88m) with a true thickness of 0.95m assayed 2.16 oz/t (73.96ppm) gold and 2.72 oz/t (93.1ppm) silver. A highlight within that zone included a 0.52m sample (144.95m-145.47m) of 6.678 oz/t (229ppm) gold. DDH 11I-4 was drilled at an azimuth of 207 degrees at -64 degrees to 171.3m TD. DDH 11I-5 was drilled at 115 degree azimuth at -45 degrees to 161.24m TD. DDH 11I-6 was drilled in the same plane as DDH 11I-5 at -70 degrees and encountered mineralized intervals with maximum values of 0.045 and 0.065 oz/t gold. The final hole at I pad, DDH 11I-7, encountered moderately mineralized intervals with assays pending.
Another intercept in DDH 11I-4 (154.22m-155.18m) of a silver and base metal rich zone with a true thickness of 1.73m contained 0.1 oz/t (3.42ppm) gold and 38.8 oz/t (1338.3ppm) silver. This intercept also showed greater than 3 percent each of lead and zinc and strongly anomalous antimony and copper. The next hole in the sequence (DDH 11I-5) had a true thickness intercept of 1.28m (111.13m-113.23m) which returned a weighted assay of 1.09 oz/t (37.21ppm) gold.
All 2011 drill holes are assayed by fire assay, using the metallic screening for coarse gold preparation by ALS Minerals in Vancouver, B.C.. Common and characteristic elements such As, Ag, Pb, and W are being assayed by ICP methods. All samples are under direct control of Grande Portage Resources Ltd. prior to their delivery to Alaska Air Cargo for shipment to the ALS prep lab in Fairbanks, AK.
Apart from the very good assays, drilling from the I pad adds geologic knowledge to the Herbert Glacier project. It is the western most drill pad on the Main vein and shows that the structure extends for more than 1000m. Drilling and mapping show that the Herbert gold veins exist within a WNW package of tonalitic rocks sandwiched between metasedimentary rocks to the SW and higher grade gneiss to the NE with stresses creating strong E-W shear veins (as Main and Deep Trench) and minor NE tensional vein-faults. The contact zone between metasedimentary and tonalitic rocks has now become a target for high grade mineralization, possibly with more silver and base-metal rich zones as indicated in DDH 11I-4. The Company has concluded its 2011 drill program at the Herbert Glacier with a total of 30 holes and 5181 meters drilled. Additional drill results, including those from 8 holes from G, 3 holes from F, and one and a half I Pad holes are pending and are expected over the next few weeks. The Company will announce further assays once received from the laboratory. Geologists Carl Hale and consultant Hawley completed the 2011 fieldwork with identification of numerous deep targets to be drilled in the 2012 season and shallow closely spaced holes to be drilled with a smaller more portable rig. Additionally, baseline water sampling studies and the NI 43-101 technical report are well underway. The 2012 drill program will be planned and submitted for permitting during the last quarter of 2011.
Ian Klassen, GPG's President remarked "We are delighted with the significance of the results from this summer's Alaskan program. The drilling went very efficiently and with almost 5200 meters with one drill in 3 and a half months, we intersected five separate high grade bodies, four of which are new discoveries. As well, a new vein which was previously only hypothesized now shows as much potential for gold as our other big veins. The results from this year give us excellent targets next year for definition drilling to better outline the best mineralized bodies and also to guide our new exploration holes."
Please click the link for the Herbert Glacier 2011 drill program schematic. It will outline the 2011 drill platform locations in relation to the parallel mesothermal veins which make up the Herbert Glacier project. Grande Portage and Quaterra Resources, Inc. (TSX-V: QTA, NYSE Amex:QMM) are in the midst of forming a 65%/35% joint venture for the further exploration and development of the property with each party bearing their proportionate costs.
This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years experience and a Qualified Person as defined under NI #43-101. Mr. Hale is supported by C. C. Hawley, Ph.D., CPG of Hawley Resource Group, Inc. and Alaska Earth Sciences, Inc. of Anchorage, Alaska
About the Herbert Glacier
The Herbert Glacier prospect is in the historic Juneau Gold Belt, formerly a world-class district with producers such the AJ and Treadwell mines and literally dozens of smaller gold mines and prospects. Overall gold production from the district is over 7 million ounces. In 2010, the district was reactivated by the reopening of Couer Alaska's Kensington gold mine located northwest of the Herbert Glacier property and is on track to mine 125,000 ounces Au in each of the next 12+ years. In addition, strong community support has been demonstrated for Hecla Mining Company's polymetallic Green's Creek Mine, a massive sulfide deposit containing silver, gold and zinc located in a parallel trend 20 kilometers to the west.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
For further information please contact:
Mr. Ian Klassen
Phone: (604) 899-0106
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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