Gold Port Resources Engages P&E Mining Consultants Inc. to Prepare NI 43-101 Resource Estimate on the Groete Creek Gold Project
2011年3月1日 - 11:30PM
Marketwired
Gold Port Resources Ltd. (TSX-V: GPO) (the "Company") is pleased to
announce that it has retained P&E Mining Consultants Inc. of
Brampton Ontario, Canada to complete a National Instrument 43-101
Resource Estimate and Technical Report on the Groete Creek Gold
Project, Guyana. The technical report for the property will fully
conform to the "CIM Standards on Mineral Resources and Reserves --
Definitions and Guidelines" as referred to in National Instrument
(NI) 43-101 and from 43-101F -- Standards of Disclosure for Mineral
Projects in effect as at the date of the Technical Report.
P & E Mining Consultants Inc., an established
internationally recognized consulting firm, has extensive
experience in the calculation of NI 43-101 compliant resource
estimates and also has recent experience working in Guyana. They
are currently engaged by Sandspring Resources Ltd. for geological
and engineering work on the Toroparu Au-Cu Project.
In 1995, Coeur d'Alene Mines began to explore the originally
identified mineralized Groete Creek area. The program included a
re-evaluation and interpretation of all available data, mapping and
sampling of the project area, as well as further drilling. At the
conclusion of the field program, Coeur d'Alene using a simple
polygonal method in drilling by cross section, identified a
gold-copper deposit comprising approximately 94 million tonnes
grading 0.6 grams per tonne gold and 0.11% total copper (Caution: The issuer has not done the work necessary to
verify the classification or quantity of the resource or reserve,
the issuer is not treating them as a NI 43-101 defined resource or
reserve verified by a qualified person, and the historical estimate
should not be relied upon.)
The Company intends to complete a 6,000 meter Phase One drill
program as outlined in the NI-43-101 Technical Report completed in
2010. A recent site visit by Company personnel and the original
Project Geologist from the Coeur d'Alene program has identified a
key historic drill collar. This will greatly aid in the drill
program being planned by the Company. The Company owns an Acker M 8
core rig and has the funding necessary to complete the confirmation
drill program. Concurrent with this program will be a detailed area
evaluation, which will include a sampling program of both the
Groete Creek and contiguous Georgetown West project areas using the
Geoprobe soil sampling system and other exploration methods.
Based upon the historical data, sampling by the Company and
recent significant mining activity, management believes the Groete
Creek/Georgetown West projects offer the opportunity to confirm and
expand a significant gold mineralized deposit.
For further information, contact Adrian Hobkirk at 714-316-3272
or adrianh@resourceexploration.com or Allan Feldman at AJF
Consultants Ltd. at 604-948-9663 or email:
AJFConsultants@aol.com.
The TSX Venture Exchange has not reviewed the content of this
News Release and therefore does not accept responsibility or
liability for the adequacy or accuracy of the contents of this News
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 the statements are made, 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. The transaction described in this News Release is
subject to a variety of conditions and risks which include but are
not limited to: regulatory approval, shareholder approval, market
conditions, legal due diligence for claim validity, financing,
political risk, security risks at the property locations and other
risks. As such, the reader is cautioned that there can be no
guarantee that this transaction will complete as described in this
News Release. We seek safe harbour.
For further information, contact: Adrian Hobkirk Gold Port
Resources Ltd. 714-316-3272 Email Contact or Allan Feldman AJF
Consultants Ltd. 604-948-9663 email: Email Contact
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