VANCOUVER, Oct. 22, 2013 /CNW/ - Grande Portage Resources
Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") announces that
it has filed its 2014 Plan of Operation for Mining Activities at
the Herbert Gold project near Juneau,
Alaska.
Subject to an improved junior financing
marketplace, work proposed for 2014 consists of up to 30,000 feet
of diamond drilling, further detailed mapping and surface sampling
and trench sampling as was done in 2010-2012. The program will
consist of up to three drill rigs, two larger rigs and one smaller,
more portable rig. The larger drills will use timbered drill pads,
with most pads being used for multiple holes with the average
length of hole about 550 feet.
Project highlights:
- NI#43-101 completed (Indicated resource of 821,100 tonnes
containing 182,400 oz of gold at 6.91 g/t. Inferred resource of
51,600 tonnes containing 12,800 oz of gold at 7.73 g/t)
- The system consists of at least 5 parallel vein structures all
of which are open to length and depth.
- Grande Portage has earned a 65% interest in the Herbert Gold
Property. Its joint venture partner, Quaterra Resources Inc.
(TSX-V: "QTA", NYSE Amex: "QMM"), holds the remaining 35%
interest.
- Herbert Gold is one of Alaska's more promising prospects occurring in
a remarkably unexplored district.
- 3rd year of baseline environmental water studies is now
complete.
Drilling results have confirmed the existence of
all the major elements of a complex mesothermal gold-quartz vein
system with numerous targets. The Company has drilled a total of
108 diamond drill holes from ten different platforms since 2010.
The results have been most favorable with numerous multi-ounce gold
assays returned. To date, initial metallurgical studies have
yielded gold recoveries in excess of 94%.
The Herbert Gold Property is host to abundant
composite vein-fault structures containing ribbon structure
quartz-sulfide veins and lies prominently within the 100 mile long
Juneau gold belt, which has
produced nearly seven million ounces of gold through a total depth
range of thousands of feet.
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.