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GPG.V Grande Portage Resources



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By PAndreola

Posted: Thursday Sep 9 10:46:54AM 2010

GPG hits another new 52 week high today $0.235. Grande Portage considers adding second drill at Herbert 2010-09-08 08:16 ET - News Release Mr. Ian Klassen reports GRANDE PORTAGE RESOURCES LTD. SUCCESSFULLY INTERSECTS MULTIPLE VEIN(S) IN EACH HOLE DRILLED---LIKELY TO ADD A 2ND DRILL TO PROGRAM Grande Portage Resources Ltd. has released a preliminary update from its diamond core drilling program at the Herbert Glacier prospect north of Juneau, Alaska. Six NQ holes have been completed and a seventh is in progress. DRILLING DETAILS Hole Platform Depth (m) Veins 101 A 152.3 Ridge and Main 102 A 201.8 Ridge and Main 103 A 45.7 Ridge 104 A 341.3 Ridge, Main, Deep Trench 105 A 183.5 Ridge and Main 106 A ~173.7 Ridge and Main 107 A ~198 Ridge and Main -------- Total ~1,296.3 Quartz veins and sulphidized shear zones have been encountered in every hole at predicted intervals for targeted mineralized zones. The Main, or No. 1, vein has been known since about 1980, when it was discovered as it was exhumed from glacial cover. Carl Hale, CPG, traced the Main vein on surface in 2007 for more than 800 metres (approximately 2,625 feet). Its presence, strength and continuity have been confirmed in all holes drilled thus far in 2010 (except shallow hole No. 103, which was targeted for a separate vein). The Main vein was previously explored in 20 drill holes reported in historic programs conducted by geologist George A. Moerlein for Houston Oil and Minerals (later Tenneco Minerals Company) as well as Echo Bay Mines Ltd. during 1987 to 1989. So far, the 2010 holes have been targeted generally at the Main vein and are not known to twin any specific Houston or Echo Bay hole. A parallel vein in the hangingwall of the Main vein had originally been mapped locally (Hale, 2007). This quartz vein has been discovered in each of the seven Platform A holes where it contains sulphides and visible free gold demonstrating its continuity. This has now been named the Ridge vein, located about 100 metres north of the Main vein. The Ridge vein is now believed to be at least 300 metres (approximately 985 feet) long. In addition, the Deep Trench vein was known previously only from a strong but poorly exposed vein structure about 200 metres south of the Main vein. In this drill program, it has been encountered as a strong complex vein between 321 metres and 326 metres in the deepest hole drilled at the prospect. This vein is strong and will be followed up in holes drilled from the B platform. The move to the B platform is tentatively scheduled for Sept. 8 or Sept. 9. Assay results are pending from ALS Chemex for holes 101 through 105; holes 106 and 107 are being sampled, and will be submitted shortly. Initial results are expected in the coming weeks. Due to the intensity of mineralization and identification of strong new targets such as the Deep Trench, and the desirability of completing the program with clement weather and reasonable daylight hours this season, the addition of a second diamond drill is being considered and a decision is imminent. We seek Safe Harbor.

By PAndreola

Posted: Monday Jul 19 11:46:22AM 2010

Grande Portage to start Herbert Glacier drilling Aug. 1 2010-07-19 - News Release Mr. Ian Klassen reports GRANDE PORTAGE RESOURCES LTD. BEGINS MOBILIZATION FOR DRILL PROGRAM Grande Portage Resources Ltd. has begun mobilization for its upcoming drill program at its Herbert Glacier gold-in-quartz vein project. Drilling is slated to commence on or about August 1, 2010. The project is in the Juneau Gold Belt approximately 30km (18mi) NNW of Juneau, Alaska, and 42km (26mi) SSE from the Kensington Mine which has just announced commercial production of gold. The Herbert Glacier project is about 8 km (5mi) east of the Glacier Highway and will be helicopter supported.Grand Portage has engaged Core One Enterprises LLC to conduct the approximate 2500m (8000ft) drill program. The Company expects to drill multiple holes from five-seven drill platforms sited from the results of the 2007 geologic and geochemical survey conducted by Quaterra Resources and historic drilling (1986 and 1988) as modified to account for rugged terrain. From six to nine NQ holes will be drilled from each platform in horizontal and vertical fan patterns mostly in the depth range of 150-230m (500-750ft). The targets are ribboned gold-in-quartz veins, Mesothermal type, that range from less than a meter to more than 3 meters thick. Main veins strike from about E to N 80 degrees E and dip from about 65 to 85 degrees northerly.In addition to visible free gold the veins contain small concentrations of arsenopyrite, pyrite, galena, sphalerite, and scheelite. Main vein structures tend to have sharp footwalls and complex hanging walls with subsidiary veins. Of more than six veins identified so far, the Main or No.1, Deep Trench, and North are targeted for exploration in 2010. Only the Main Vein has been drilled previously. Initial targets are on the Main Vein and will be drilled, at least, from Drill Pads nos. 1 and 2 (see below): << APPROXIMATE DRILL PAD LOCATIONS, HERBERT GLACIER PROJECT, JUNEAU GOLD BELT 2010 Old E Nad 27 E Nad 83 N Nad 27 N Nad 83 El El Vein Pad No. UTM (ft) (m) Target Meters ------------------------------------------------------------------------- 1 2 518,537 518,642 6,488,000 6,488,037 765 233 Main (No1) ------------------------------------------------------------------------- 2 1 518,210 518,315 6,487,963 6,488,000 455 139 Same ------------------------------------------------------------------------- 3 5 518,537 518,642 6,487,739 6,487,776 810 247 Deep Trench ------------------------------------------------------------------------- 4 7 518,200 518,305 6,487,737 6,487,774 410 125 Same ------------------------------------------------------------------------- 5 3 518,807 518,912 6,487,936 6,487,973 925 282 Main (No 1) ------------------------------------------------------------------------- 6 6 518,200 518,305 6,488,423 6,488,460 600 183 North ------------------------------------------------------------------------- 7 4 518,507 518,612 6,487,697 6,487,734 1,060 323 Deep Trench Conversion to Nad83 based on USGS correction of +105mEast and +37mNorth >> The fan drill pattern is expected to test the vein on horizontal spacing of about 50m and slightly less than this vertically. The close spaced pattern is designed, if successful, to allow identification of Geologic Resources in the Indicated to Measured classes. Carl Hale, CPG, a geologist of more than 40 years experience, will direct the field program and will act as the qualified person as that term is defined under NI 43-101. Mr. Hale will be backed up by C. C. Hawley, Ph.D., CPG of Hawley Resource Group, Inc. and Alaska Earth Sciences, Inc. of Anchorage, Alaska. We seek Safe Harbor.

By PAndreola

Posted: Monday Jun 21 12:36:43PM 2010

Grande Portage hires driller for Herbert Glacier 2010-06-21 08:34 ET - News Release Mr. Ian Klassen reports GRANDE PORTAGE RESOURCES LTD. ANNOUNCES UPDATE Grande Portage Resources Ltd. has engaged Core One Enterprises LLC Of Delta, Colo., to conduct its upcoming drilling program at the Herbert Glacier mesothermal gold vein project in Alaska this summer. The claims host six main composite vein-fault structures that contain ribbon structure quartz-sulphide veins. The structures strike east-west and dip steeply, mostly to the north. Only one of the six known vein systems was drilled in 1986 and 1988. All six structures locally have high-grade gold-quartz mineralization and are recommended to be drill tested. Commencing in early August, the company will drill (using NQ core) between 4,500 feet and 7,000 feet from approximately six drill sites to further test possible ore-shoots in vein No. 1 identified in historic drilling and begin to test the underground potential of several other veins found to be strongly enriched gold-bearing in surface studies done in 2007. As well, the company wishes to indicate that it is fully financed for the 2010 and 2011 drill seasons as per its recently announced option agreement. Wes Raven, PGeo, a qualified person as that term is defined under NI 43-101, has reviewed the technical information contained in this news release. We seek Safe Harbor.

By PAndreola

Posted: Monday May 3 11:13:13AM 2010

GPG.V getting noticed today. Up 45% on almost 1 million shares.

By PAndreola

Posted: Saturday Apr 17 3:07:15PM 2010

Here is what I believe is another undervalued resource company similar to GQ.V was several months ago. Trading at $0.10 with approximately $0.13 per share in cash and marketable securities. GPG.V April 16 closing price: $0.10 Shares Outstanding: 64,042,392 Market Cap: $6,404,200 Cash and securities valued at approximately $8,450,000 Grande Portage Resources Ltd. is a mineral exploration and development company focused on exploration in areas within Canada, and in particular British Columbia, which have the potential for primary discoveries of gold and base metal projects. Grande Portage is operated by experienced managers and professionals who have been effective in discovery, mine development, and mining operations throughout North America, Africa, Europe, and Central Asia. Investment Highlights Four past producing mines on properties and multiple untested mineral showings on British Columbia properties. Geophysical data indicates an intrusive body almost 10 km in diameter. Initial NI 43-101 resource/reserve calculation report on Merry Widow Project. Where it gets interesting: As of the Jan 31 2010 the company had cash of $1,768,000 1,000,000 shares of QTA (trading at $1.70) or $1,700,000 1,000,000 QTA warrants (exercisable at $0.75) intrinsic value $950,000 10,000,000 Nexstar Energy Ltd (Nexstar was acquired by Result Energy on the basis of 1.05 shares of Result for every 1 share of Nexstar resulting in 10,500,000 shares of Result Energy. On April 1 2010 PetroBakken completed the acquisition of Result Energy for $0.42 or 0.013023 PetroBakken share (or combination of PBN shares and cash) per Result Share. This transaction is worth $4,410,000 if all cash and $3,656,500 if all PBN shares (PBN currently $26.74). Assuming 50% cash and 50% PBN shares gives a current value of $4,033,200) Using the 50/50 number gives us a value of $4,033,200. Therefore: $1,768,000 + $1,700,000 + $950,000 + $4,033,200 = $8,451,200 Subtract all liabilities ($23,735) Book value: $8,427,465 Per share: $0.132 GPG shares are trading approximately 24% below cash and marketable securities value. Their existing properties are given zero value. Management are actively looking for an advanced resource project at which point I believe the company will garner significant market awareness.

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