Grande Portage Resources Ltd.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | Suite 520 - 700 West Pender Street Vancouver, B.C. Canada V6C 2T8 |
| Tel No.: | (604) 685-5851 |
| Fax No.: | (604) 685-7349 |
| Web Site: | www.grandeportage.com |
| Corporate Email: | info@grandeportage.com |
| Contact Person: | Michele Pillon |
| Position: | Administrative |
| Traded Market: | TSX-V |
| Traded Symbol: | GPG |
| Outstanding Shares: | 59,742,242 |
| Public Float: | 15,000,000 |
| 52 Week High: | $ 0.93 |
| 52 Week Low: | $ 0.12 |
| Present Price: | Click Here |
INTRODUCTION
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. Highlights include:
· Core holdings of in excess of 35,870 hectares in the Province of British Columbia, Canada
· Commodity portfolio focused on gold and base metals
· Geophysical data indicates an intrusive body almost 10 km in diameter
· Helicopter Airborne Geophysical Survey conducted
· Diamond drill program underway
· Strong technical and financial management team in Canada
PROJECT IN HAND
Merry Widow Group Property, Vancouver Island, B.C.
The Merry Widow Group property is located on the east slope of Merry Widow Mountain in the Nanaimo Mining Division, about 40 km southwest of Port McNeill on Vancouver Island. It comprises 44 Crown Granted mineral claims and a 20 unit claim held by record. The property is accessible by an excellent main haulage logging road from Port McNeill to the Benson River valley. Secondary logging roads which are in good four wheel drive condition give access to the old Merry Widow mine and the favourable mineralized areas
There has been over 100 years of prospecting, staking, exploration and mining within the boundaries of the Merry Widow Group property (Merry Widow property). Occurrences of copper are reported to have been discovered in 1897 along the Old Sport horizon near the Benson River on the east slope of Merry Widow Mountain. The claim staking that eventually covered the whole property started at that time.
The target deposit type of the present exploration program is Precious Metals Enriched (PME) skarn deposits. The locus of the known gold bearing massive sulphide showings is centered at the old Merry Widow magnetite mine. The main showings are situated along a north-south trending zone of favourable host rocks between the Coast Copper intrusive diorite stock to the west and Quatsino Formation limestone rocks to the east. This favourable host rock zone is about 5 km long.
Along this favourable host rock zone are many showings of the gold bearing massive sulphide deposits. These contain excellent values in gold and copper and interesting values in silver and cobalt. When it is considered that the favourable host zone extends for 5 km in length and down dip along the contact of the Coast Copper stock for a least 770 m, the potential for the presence of a really large resource of gold bearing massive sulphide mineralization becomes plausible.
MANAGEMENT
Grande Portage Resources Ltd. has a well management team with experience in different areas.
Alistair MacLennan, Chairman of the Board & CEO
Mr. MacLennan has been working in the junior resources sector (oil/gas/minerals), in various capacities, for over thirty years. He has gained industry knowledge through founding, investment in and serving on the Boards of a number of public and private exploration companies. Mr. MacLennan is also the Chairman and director of Helijet International Inc., a helicopter airline operating a fleet of Sikorsky S76 helicopters throughout the Pacific Northwest since 1986. Mr. MacLennan is actively involved in a number of private companies which are involved in leasing, manufacturing and natural gas production.
Harold Forzley, CA, Director, Chief Financial Officer and Chairman of the Audit Committee
Mr. Forzley earned a BA Commerce while attending at Simon Fraser University and a Chartered Accountant designation while employed at Thorne Riddell (now KPMG). After an eight year tenure with Thorne Riddell, Mr. Forzley spent the next 20 years building a variety of companies primarily in the mining sector. Most notably, Continental Gold Corp., which was sold to a major mining concern and El Condor Resources, also sold to an intermediate mining company with both companies generating substantial returns to their respective shareholders.
Mr. Forzley has spent the past ten years in his own consultancy, providing financial/business advice to a variety of businesses and currently serves as President and CEO of Pacific Cascade Minerals Inc.
Ian Klassen, V.P. Corporate Development
Mr. Klassen has over 15 years experience in business management, public relations, government affairs and entrepreneurialism. He has extensive experience in government policy, media relationship strategies, business/government project management and legislative decision-making. MR. Klassen is currently a Principal of AdFleet Advertising Inc., an innovative outdoor advertising company with operations in the U.S. and Canada. Prior to co-founding the company, Mr. Klassen served as Vice-President and Managing Director of a private, financial consulting firm based in Vancouver with offices in Toronto and Melbourne. In the 90's, Mr. Klassen held a variety of positions in federal Canadian politics, most notably as Chief of Staff, Office of the Speaker of the Canadian House of Commons.
Mr. Klassen graduated with an Honours Degree in Arts from University of Western Ontario in 1989. In 1992, Mr. Klassen is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country.
Gordon Griffiths, Secretary & Director
Mr. Griffiths has over 20 years of sales and sales management experience within the information technology, telecommunications, commercial real estate and advertising industries. Mr. Griffiths formerly held positions with Colliers International, Bell Canada, Syncor Business Environments and is currently with Rogers Communications Inc. He holds a diploma from UBC in Sales and Marketing Management and a diploma in Urban Land Economics.
Advisory Group
Art Freeze
Mr. Freeze has over 38 years of experience as an exploration and production geologist. Mr. Freeze has extensive experience in mining development programs and evaluating projects for both senior and junior resource companies. He has held consulting, supervising and management positions with major and junior mining companies including: Cominco Ltd., Pasminco Exploration, Echo Bay Mines and Pan American Silver Corporation. He has extensive international experience, including North, Central and South America, and in the former Soviet Republics. Currently he is President of Stillwater Enterprises Limited and most notably, the primary Consulting Geologist for Goldcorp Inc. He is a member of the Association of Professional Engineers and Geoscientists of British Columbia.
Ignacije Borovic
Mr. Ignacije ("Rocky") Borovic, P.Eng., acts as a senior geological consultant to the project. Mr. Borovic has had a long and esteemed career in mineral exploration and is credited with the co-discovery and development of several mines and deposits during his decade long service with Placer Dome Ltd. His role will be to oversee all aspects of exploration and further development of the project drawing upon his years of experience and accomplishment.
NEWS UPDATE
On March 02, 2007 Grande Portage Resources Ltd. was provided a drilling update. The company has received the necessary permits for a phase II diamond drilling program on its Merry Widow massive sulphide project on Vancouver Island. The permit allows for drilling of up to 60 drill holes. The permit will focus on intersecting and detailing mineralization hosted in the Old Sport horizon. The company has signed a contract agreement with Aeroquest Ltd. of Milton, Ontario, to conduct a helicopter airborne magnetic and time domain EM geophysical survey on the company's Merry Widow massive sulphide project on Vancouver Island, B.C. The survey will commence in mid-April, 2007.
On February 06, 2007 Grande Portage Resources Ltd. has received partial assay results from its 20-hole follow up diamond drilling program at the Merry Widow massive sulphide project on Vancouver Island, B.C., conducted between November 15 and December 15, 2006. Eight of the 11 drill holes successfully intersected massive sulphide skarn mineralization containing visible pyrrhotite, pyrite and chalcopyrite hosted in either massive magnetite or epidote-garnet-actinolite skarn assemblages. Higher grade gold values intercepted at Merry Widow-including DDHMW06-35 grading 32.61 meters of 8.06 g/t gold.
On December 22, 2006, Grande Portage Resources Ltd. announced that since November it has completed 15 infill diamond drillholes in and around the Merry Widow open pit and 5 step out holes to locate the Raven showing massive sulphides.
A total of 2,419 metres of additional drilling was undertaken. Of the 15 drillholes located at the Merry Widow pit, 8 were infill drilling to be used for resource calculations in 2007 and 7 were step-out drillholes onto the Coppery Knob showing. The 5 holes emplaced at the Raven showing were the first undertaken in this area by the Company. All of these holes successfully intersected skarn and variable massive sulphide mineralization. Full intersection widths, and assays will be available upon completion of the drill hole logging and receipt of assay reports.
Drilling has now stopped until January, 2007. A proposed 60 hole program targeting the Old Sport Horizon has been submitted for approval. Further drilling on the Merry Widow trend will also be permitted for at this time. The camp at the Kathleen Lake has been fully winterized to allow for year round exploration activity. As well, the Company is in discussions with Aeroquest Limited to complete an in-depth line by line analysis of its previously completed airborne magnetometer and EM geophysical survey and make recommendations; as well as extend upon the previously flown airborne geophysical survey so as to encompass the rest of the property by April, 2007.
As a follow up to previously announced drillhole assays, the Company reported infill gold, silver and copper assay results from drillholes MW06-01 - MW06-04. The infill samples were taken to enhance the understanding or the continuity of the mineralization encountered in these drillholes. The infill sampling provided no significant changes to drillholes DDHMW06-01 and DDHMW06-03 as they were reported by the Company in its August 29th 2006 press release.
However, the infill sampling has significantly extended the mineralized zones encountered in drill holes DDHMW06-02 and DDHMW06-04. DDHMW06-02 returned a weighted average of 3.46 g/t gold, 4.81 g/t silver and 0.21% copper over 46.89 metres while DDHMW06-04 returned a weighted average of 2.95 g/t gold, 1.93 g/t silver and 0.09% copper over 58.8 metres.
On December 7, 2006, Grande Portage Resources Ltd. announced that it has closed the previously announced brokered private placement led by Pacific International Securities Inc. and including Dundee Securities Corporation (November 7 and 15, 2006) to raise gross proceeds of $9 million, and it has closed a non brokered offering to raise a further $616,000, for a grand total of $9,616,000.