Full disclosure of Portage's 2011 program and the Golden Pike Property resource estimate are available within the Portage news releases dated August 24, 2011; December 21, 2011 and February 13, 2012. An NI 43-101 compliant technical report on the Golden Pike Property describing in detail among other things, the resource estimate, QA/QC, database validation and geologic model, was filed on SEDAR on September 8, 2011.
The 2012 drill program completed in November - December of 2012, consisted of approximately 2,013 metres in seven holes and the extension of one existing hole. Three of these holes were exploration oriented testing geophysical targets outside the immediate resource area. Resource sector drilling (holes DP-12-63 to 65, 69 and DP-08-29 extension) tested the northeast depth extension of the known mineralized system with drill step-outs ranging from 70 to 175 metres. All these drill holes, with the exception of hole DP-12-69, encountered the alteration/vein system which ranged from 1.95 to 21.2 metres in thickness. The highest grade assay result was obtained from DP-12-63 which returned 2.82 g/t gold over 1.10 metres. A table of assay results from the 2012 drill program and a longitudinal section of the South Trend Deposit are attached at the end of this news release.
The gold mineralized quartz vein systems of the South Trend Deposit are hosted by mafic volcanic rocks proximal to a volcanic-sediment contact. The mineralized vein zones consist mainly of quartz and carbonate with or without sulphides. Gold-rich sections of the vein system correlate with higher sulphide content and/or sections containing visible gold. Pyrite is the most common sulphide but chalcopyrite, minor sphalerite and galena have been observed. Arsenopyrite is generally absent from the assemblage.
Assays were performed by Activation Laboratories Ltd, Ontario, using the fire assay method (1A3-50) on 50 grams of prepared sample.
Roger Dahn, P. Geo. (New Brunswick), Vice President-Exploration of Portage, is designated as the Qualified Person under National Instrument 43-101 and has reviewed and approved the contents of this news release.
Portage Minerals Inc. is a mineral exploration corporation exploring for gold in Eastern Canada. Further information about Portage can be accessed on the Company's website at www.portagemineralsinc.com and on the SEDAR website at www.sedar.com. The common shares of Portage trade on the Canadian National Stock Exchange ("CNSX") as a mining issuer under the trading symbol "RKX".
To receive Company news releases via e-mail, please advise robin@chfir.com and specify "Portage News" in the subject line.
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors and risks. The forward-looking statements contained in this news release are made as of the date hereof and Portage undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
---------------------------------------------------------------------------- 2012 GOLDEN PIKE DRILL INTERSECTIONS(1,2) Interval Au From To (metres) (g/t)Hole No. Coordinates Dip Azimuth (metres) (metres) (1) (2)-------------------------------------------------------------------------------------------------------------------------------------------------------- 273254E / -46DP-12-63 5061410N degrees 115 71.79 72.79 1.00 0.92 145.00 146.00 1.00 0.36 175.09 178.05 2.96 1.21 including 175.09 176.20 1.11 2.82 318.85 319.83 0.98 0.89---------------------------------------------------------------------------- 273167E / -47DP-12-64 5061458N degrees 112.5 241.57 242.84 1.27 0.26---------------------------------------------------------------------------- 273206E / -50DP-12-65 5061499N degrees 112 299.00 300.00 1.00 0.13---------------------------------------------------------------------------- 272997E / -45DP-12-66 5060920N degrees 345 no significant assays---------------------------------------------------------------------------- 272886E / -45DP-12-67 5061153N degrees 117 no significant assays---------------------------------------------------------------------------- 272934E / -62DP-12-68 5061221N degrees 115 no significant assays---------------------------------------------------------------------------- 273380E / -61DP-12-69 5061631N degrees 118 no significant assays---------------------------------------------------------------------------- 273225E / -57DP-08-29EXT 5061469N degrees 110 no significant assays--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Intervals are core length. True width will be defined with additional drilling.(2) Assays were performed by Activation Laboratories Ltd, Ontario using the fire assay method (1A3-50) on 50 grams of prepared sample.----------------------------------------------------------------------------
To view the map "Golden Pike South Deposit (Longitudinal Section)," please visit the following link: http://media3.marketwire.com/docs/portage_minerals_map01_feb05.pdf
The CNSX has not approved and does not accept responsibility for the adequacy or accuracy of this news release.
Contacts:
Portage Minerals Inc.
Ken Hight
President and CEO
(506) 529-8206
(506) 529-8595 (FAX)
www.portagemineralsinc.com
CHF Investor Relations
Robin Cook
Senior Account Manager
(416) 868-1079 x228
(416) 868-6198 (FAX)
robin@chfir.com
