Symbol: GPO TSX-V
VANCOUVER, Feb. 26 /CNW/ -
Akaiwong Project
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Gold Port Resources Ltd. (The "Company")(TSX-V:GPO) is pleased to announce the resumption of exploration activity at the Akaiwong Project, Guyana. A D-6 is currently removing surface obstruction over an area approximately 500 by 500 meters in preparation for the initiation of a Phase II drill program. Road access is being improved in an effort to maintain a smooth chain of supply. Upon completion of this first phase, the Company owned Acker MP-8C rig will be moved into place for what is anticipated to be a 50 hole program.
Approximately 200 meters of core from the 2007 drill program at Akaiwong have been submitted to Met-solve Laboratories Inc. of Burnaby, British Columbia for testing. Test work will include gravity separation of 15 meter composites to determine gold recoverability. Results will be available in the near future.
The Company has retained Mr. Gregg Powlan as Project Manager. Mr. Powlan has a Master of Science Mineral Engineering Degree from the New Mexico Institute of Mining and Technology, a Professional Degree Geological Engineering from the Colorado School of Mines, and a Bachelor of Science Geology, University of California, Santa Cruz. Mr. Powlan has extensive experience in the resource industry including three years of work in Myanmar with Ivanhoe Myanmar Holdings Ltd. at the Monywa Mine site. He has extensive experience in ore reserve calculation, pit planning, and hydrological engineering.
Groete Creek
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Corporate geologists have established a base camp at the Groete Creek Project, located near Georgetown Guyana. The Groete Creek Project was drilled between 1995 and 1996 by Caribbean Basic Industries Ltd., on behalf of Coeur d'Alene Mines Corp. A basic project reconnaissance program has been completed and seven of 17 previously drilled holes have been located. Historical drill data is being compiled and processed using modern software. An exploration drill program will be designed from this evaluation. Access to the project will allow the locating of heavy equipment when required. As per the agreement between the owner and the Company, three large excavators are currently operating a small scale gold recovery plant on a portion of the project.
The contents of this press release have been reviewed by Mr. Allen Ambrose, a Qualified Person as per NI 43-101 and a director of the Company.
On Behalf of the Board of Directors of Gold Port Resources Ltd.
Adrian F.C. Hobkirk
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and therefore does not accept responsibility for the adequacy or accuracy of the content of this press 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 of this press release, 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. This news release is not an offer to buy or sell any securities. We seek safe harbour.