Grande Portage Resources Ltd. extends mineralization on Deep Trench
& Goat Creek veins
Deep Trench vein delivers highest yet recorded assay of 428
grams per tonne (12.5 OUNCES PER TON)
VANCOUVER,
Nov. 15, 2012 /CNW/ - Grande Portage
Resources Ltd. (TSX-V: GPG) ("Grande Portage" or "the Company") is
pleased to report assay results for the final three holes of its
summer/fall 2012 drilling program on its Herbert Gold project
located approximately 25 km north of Juneau, Alaska. Additionally, the
Company has received new metallic screen results, some of which
significantly upgrade previously reported values and are listed
below.
Drilling has now delineated Deep Trench vein
mineralization over a strike length of at least 400 metres. Drill
hole 12H-1, an exploration step out 150 metres east of Pad G,
intersected a sheared and hydrothermally altered zone over 12
metres in width that hosts gold bearing quartz with abundant
arsenopyrite, an important sulfide associated with gold
mineralization. A 1.17 metre interval within this zone averages
5.45 gpt gold. Approximately 700 metres of the Deep Trench vein
along strike to the east has not yet been drilled.
Metallic screen assays from previously reported
DDH 326B2, drilled on the west end of the Deep Trench vein,
increase the bonanza grade intercepts by up to 17%, as shown in the
table. The best intercept now contains 0.71 metres (0.38 metres
true width) of 428 gpt gold (12.5 oz/ton). This intercept occurs
directly below a 2011 trench which contains up to 41.2 gpt gold.
Importantly, these occurrences appear to be part of the same
high-grade zone or shoot which was intersected by DDH 11E-2 (8.76
metres true width of 37 gpt gold) which suggests that the high
grade shoot has a length of at least 100 metres.
Holes 12J-6 and 12J-7, drilled from Pad J to the southwest on
the Goat vein, each contain narrow intervals of 3.75 to 18.25 gpt
gold, and extend mineralization to the west.
The following table summarizes the new results from the last
three drill holes which have been received since the last news
release dated October 30, 2012 plus
results from samples which had additional metallic screening work
ordered:
| Hole |
|
From |
|
To |
|
Interval |
|
Thickness |
|
Au, |
|
Au, |
|
Au, |
|
Au, |
| Name |
|
(m) |
|
(m) |
|
(m) |
|
True,(m) |
|
Gr/t |
|
Oz/ton |
|
Gr/t |
|
Oz/ton |
| New
Holes for Nov. News Release: |
|
|
|
|
| 12H-1 |
|
98.80 |
|
99.97 |
|
1.17 |
|
1.01 |
|
5.45 |
|
0.159 |
|
|
|
|
| 12J-6 |
|
124.39 |
|
125.16 |
|
0.77 |
|
0.55 |
|
3.75 |
|
0.110 |
|
|
|
|
| 12J-7 |
|
10.66 |
|
11.12 |
|
0.46 |
|
0.25 |
|
6.59 |
|
0.192 |
|
|
|
|
| 12J-7 |
|
54.95 |
|
55.27 |
|
0.32 |
|
0.18 |
|
18.25 |
|
0.533 |
|
|
|
|
|
Upgraded holes: |
|
|
|
|
|
|
|
|
|
|
|
Previous
values: |
| 12F-4 |
|
18.56 |
|
21.35 |
|
2.79 |
|
n.a. |
|
5.86 |
|
0.171 |
|
5.35 |
|
0.156 |
| 12F-4 |
|
24.29 |
|
26.31 |
|
2.02 |
|
n.a. |
|
8.73 |
|
0.255 |
|
8.35 |
|
0.244 |
| 12O-1 |
|
91.14 |
|
96.04 |
|
4.90 |
|
4.46 |
|
9.49 |
|
0.277 |
|
9.39 |
|
0.274 |
| 12O-1 |
|
92.92 |
|
96.04 |
|
3.12 |
|
2.84 |
|
13.91 |
|
0.406 |
|
13.85 |
|
0.404 |
| 12O-4 |
|
192.05 |
|
195.25 |
|
3.20 |
|
1.44 |
|
2.52 |
|
0.073 |
|
2.37 |
|
0.069 |
| 326B2 |
|
82.46 |
|
94.08 |
|
11.58 |
|
6.14 |
|
28.41 |
|
0.829 |
|
24.37 |
|
0.712 |
| includes: |
|
92.28 |
|
94.08 |
|
1.80 |
|
0.95 |
|
171.98 |
|
5.022 |
|
146.35 |
|
4.274 |
| and: |
|
93.37 |
|
94.08 |
|
0.71 |
|
0.38 |
|
428.00 |
|
12.498 |
|
364.00 |
|
10.629 |
| 326C |
|
73.03 |
|
77.27 |
|
4.24 |
|
2.84 |
|
4.99 |
|
0.146 |
|
4.50 |
|
0.131 |
| 326D |
|
74.82 |
|
75.21 |
|
0.39 |
|
0.23 |
|
27.90 |
|
0.815 |
|
24.60 |
|
0.718 |
| 12O-6 |
|
119.29 |
|
126.61 |
|
7.32 |
|
5.20 |
|
6.39 |
|
0.186 |
|
6.15 |
|
0.180 |
| 12O-8 |
|
100.37 |
|
102.49 |
|
2.12 |
|
1.84 |
|
12.59 |
|
0.368 |
|
11.72 |
|
0.342 |
| 315C |
|
55.09 |
|
68.32 |
|
13.23 |
|
6.75 |
|
4.11 |
|
0.120 |
|
4.04 |
|
0.118 |
| includes: |
|
59.52 |
|
65.45 |
|
5.93 |
|
3.02 |
|
6.90 |
|
0.201 |
|
6.74 |
|
0.197 |
| 12J-3 |
|
22.01 |
|
24.53 |
|
2.52 |
|
1.59 |
|
5.92 |
|
0.173 |
|
4.47 |
|
0.130 |
| 12J-3 |
|
112.28 |
|
114.33 |
|
2.05 |
|
1.29 |
|
82.95 |
|
2.422 |
|
79.41 |
|
2.319 |
Currently, the Company is working on an updated
NI#43-101 compliant resource, scheduled for completion in Q1 2013.
The Company is also plotting 2013 drill site locations to be filed
later this month as part of its 2013 Plan of Operation. Lastly, the
Company reports that it has now completed its second full year of
baseline environmental water studies which were independently
carried out by Admiralty Environmental, LLC. of Juneau, Alaska.
The Herbert Gold project is in the historic
Juneau Gold Belt, formerly a world class district with producers
such the A-J and Treadwell mines
and literally dozens of smaller gold mines and prospects. The
district has been reactivated by the reopening of Coeur Alaska's
Kensington gold mine located
northwest of the Herbert Gold property. Strong community
support has also been demonstrated for the Green's Creek Mine, a
rich massive sulfide deposit containing silver, gold and zinc
located in a parallel trend 20 kilometers to the west.
Core logging, processing, sampling and storage
were conducted at a secure location in Juneau. Analytical testing of the core
samples has been conducted by ALS Canada Ltd., with the sample
preparation being done in Anchorage,
AK, and analysis of the samples by the Vancouver, B.C. laboratory. Methods
include metallic screening for coarse gold, fire assays, and
multi-element ICP analysis.
Grande Portage and Quaterra Resources, Inc.
(TSX-V: "QTA", NYSE Amex: "QMM") have formed 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.
ON BEHALF OF THE BOARD OF DIRECTORS
_______________________________________
Ian Klassen, President
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.