[Marinir] {Disarmed} Gold Port Drills 0.987 g/t Gold Over 63 Meters at Groete Creek
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Mon Mar 19 14:09:56 CET 2012
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Gold Port Resources: Drills 0.987 g/t Au Over 63 Meters at Groete Creek
Highlights:
Infill Hole GC12-4 intercepts 63 meters of 0.987 grams per tonne gold
within 244 meters total depth of 0.5 grams per tonne gold (preliminary)
Copper values pending
Gold Port Resources Ltd. ( GPO
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=GPO®ion=C&lookup=symbol&snapshot=default
: TSX-V) is pleased to report preliminary gold values for hole GC12-4,
an infill hole located at the Groete Creek Gold Copper Project, Guyana.
This historic gold copper project is located in Cuyuni Mining District
4, approximately 60 kilometers southwest of Georgetown, the Capital of
Guyana, and close to the city of Bartica, a town of 15,000 people.
Access is by dirt road from Manaka, directly to the project area.
Hole GC12-4 is an infill hole within the historical grid. Past mining
activity (by local Guyanese, prior to Gold Port involvement) on the
project had resulted in the hole collar of the closest historical hole,
AK96-12, having been removed. A substantial pit from past mining
activity made it impossible to locate this hole at the site of
historical AK96-12. It was therefore necessary to move GC12-4 to the
west approximately 35 meters, and consider it as infill. The historical
grid measuring 1,200 meters west to east locates GC12-4 approximately
200 meters east of the western most historical drill hole AK94-6, and
approximately 150 meters east of recently announced TW12-13.
Drill core was split and bagged on site, and then transported to ACME
Laboratories of Guyana (a Certified Laboratory) for processing. Company
security personnel were in possession of the drill core until delivery
to the laboratory. Every twentieth core sample, the half core sample
split was further divided into two samples and duplicate samples were
submitted as a check on the assaying accuracy. ACME inserted its own
blanks as standards during assaying. Sample intervals were 1.5 meters.
Work was conducted under the supervision of Mr. Paul Pelke, a Qualified
Person under NI 43-101. Sample preparation was completed at ACME
Laboratories (Certified) of Guyana, with final assay work completed by
ACME Laboratories (Certified) of Santiago, Chile. Assay was by 30 gram
fire assay. Results continue to confirm the presence of a substantial
gold mineralized zone.
Hole GC12-4 averaged 244 meters of 0.5 grams per tonne gold, which
includes a 63 meter zone of 0.987 grams per tonne gold, from 24 to 87
meters. The highest gold value encountered was 2.64 grams per tonne gold
over 1.5 meters, with the hole requiring no "high cut" in the
calculation.
Results to date appear to confirm the location of the historical gold
deposit. Final gold values and copper values are expected in the
immediate future, along with the results of further twin holes which
have been located on exact drill locations. The Company is completing
twin holes for the potential re-calculation of the historical gold
deposit to NI 43-101 standards by P and E Mining Consultants Inc., Line
cutting is underway to facilitate a drill program east of the last known
historical hole to better define the eastern limits of the historical
deposit. Surface exploration work is also underway at the adjoining
Georgetown West Gold Project, which adjoins the three Groete Creek Gold
Copper Project Mining Permits on their eastern boundary.
Mr. Paul Pelke, consulting geologist to the Company, Project Manager,
and a Qualified Person under NI 43-101 has reviewed the contents of this
press release.
On Behalf of the Board of Directors of Gold Port Resources Ltd.
Adrian F.C. Hobkirk,
President and Chief Executive Officer - adrianh at resourceexploration.com
For further information, contact Adrian Hobkirk at 714-316-3272 or
email: adrianh at resourceexploration.com or Allan Feldman at AJF
Consultants Ltd. at 604-948-9663 or email: AJFConsultants at aol.com .
www.goldportresources.com
http://www.goldportresources.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.
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