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Grande Portage Resources Ltd. V.GPG

Alternate Symbol(s):  GPTRF

Grande Portage Resources Ltd. is a Canada-based mineral exploration company. The Company is focused on the Herbert gold discovery situated approximately 25 kilometers (km) north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The Herbert Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The Herbert Gold project is an exploration stage, partially drill-tested, high-grade, gold mineralized mesothermal quartz vein system in the historic Juneau Gold Belt of southeast Alaska. The project lies prominently within the 160 km long Juneau Gold Belt, which has produced over seven million ounces of gold. The project consists of 91 unpatented mining claims, located 25 km north of Juneau and to the south of Couer Alaska's profitable Kensington gold mine. The property covers six parallel vein structures exposed at the surface.


TSXV:GPG - Post by User

Post by clarkesandyon Jul 07, 2010 11:24am
444 Views
Post# 17250269

Hard to believe.

Hard to believe.We keep on falling when they have so much money in the bank to be used for drilling and other things.
Let's have a little look at the email I recieved a a few weeks ago.
Here is what was said,
"We will likely not drill the MW this year but we will be doing a possible large bulk sample to extract up to 10,000 tonnes of the richest ore grade we can see. Some estimates are that the value of the rock is in the $800 per tonne range. This would increase the treasury in a very positive way. Speaking of which, I am not sure if you realize but we did make 2 key investments last fall. One in the Alberta oil patch and one in Quattera Mining Corp. Both have done very well and we more than doubled our treasury WITHOUT a share of dilution to the shareholders. I would hope you think this has been a positive outcome. At this stage we have working capital of approximately $7million.

We did negotiate a option on the Alaskan property called the Herbert Glacier. This is a very high grade rich mesothermic system with 6 parallel veins. It has almost 500,000 ounces of gold at this point (non 43-101). Only one (partial) of its six veins tested. We are confident that this drill permitted property will be proved up considerably as mesothermic systems are known for consistency at depth and laterally. GPG issued no cash or shares from treasury for this opportunity. We earn a 65% interest by expending $1.25m over 2 years. A GREAT deal. We will drill in August. Past results have been from a third ounce gold to multi ounce per tonne.

I hope you will remain a shareholder and we can keep your confidences".

Regards,

Ian Klassen
After reading this email, I added more.
I think the future is very bright, even though the company seems to work very slow.
Slow and steady sometimes wins the race.
Glta
CS
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