Grande Portage Resources Announces Drill Program Mobilization Underway - Additional Holes Planned for Herbert Gold Project
Vancouver, British Columbia--(Newsfile Corp. - June 6, 2023) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ("Grande Portage" or "the Company") is pleased to announce that it has commenced crew mobilization and expects to begin drilling on schedule at its 100% controlled Herbert Gold project located in SE Alaska.
As a result of its recently completed equity financing, Grande Portage intends to increase its planned drill program. The Company expects to drill approximately 15-20 holes from up to four different platforms which will test numerous separate primary veins and their satellitic structures. The upcoming drill program is a continuation of previous drilling which successfully tested multiple gold-quartz veins of the Herbert mesothermal vein system with very encouraging results.
The drill program will target many geologically promising high value targets at the Main, Goat, Deep Trench, Ridge, and Sleeping Giant veins from multiple locations and is expected to conclude in late October 2023.
Ian Klassen, Grande Portage's CEO, commented, "Our geological team has gone to great lengths to design a very ambitious program for 2023. Our project is well situated in a historically proven and prolific gold belt. We look forward to building upon the Herbert resource, a high-grade gold system that has a current National Instrument Mineral Resource of 1,196,800 ounces of gold (Indicated) at an average grade of 10.23 g/t gold and an (Inferred) resource of 325,900 ounces of gold at an average grade of 8.91 g/t gold."
Past drilling has yielded very encouraging results including numerous multi ounce assays on several veins including those listed below (all holes are reported as true widths):
- 37.07 g/t Au over 15.27 meters (Deep Trench vein)
- 59.91 g/t Au over 8.08 meters (Deep Trench vein)
- 30.24 g/t Au over 9.08 meters (Goat Creek vein)
- 28.41 g/t Au over 11.58 meters (Deep Trench vein)
- 21.55 g/t Au over 6.46 meters (Main vein)
- 15.76 g/t Au over 2.81 meters (Goat Creek vein)
- 21.22 g/t Au over 2.25 meters (Main vein)
- 13.91 g/t Au over 3.12 meters (Main vein)
Investors are encouraged to visit the Company's website at www.grandeportage.com for a more detailed summary of past drill results and a corporate presentation.
This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years of experience and a Qualified Person as defined under NI #43-101.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 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 project lies prominently within the 160km long Juneau Gold Belt, which has produced over seven million ounces of gold. The Company's updated NI#43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 3.0 grams per tonne gold (g/t gold) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t gold (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t gold (1,138,000 tonnes), as well as an Indicated resource of 686,700 ounces of silver at an average grade of 5.87 g/t silver (3,637,000 tonnes); and an inferred resource of 169,300 ounces of silver at an average grade of 4.63 g/t silver (1,138,000 tonnes).
ON BEHALF OF THE BOARD
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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