Grande Portage Announces Drill Start Planned for Early July
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2020) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ("Grande Portage" or "the Company") is pleased to announce that it is preparing and taking the necessary steps to organize for its upcoming drill season at the Herbert gold project in Alaska.
As previously announced, the Company has received its drill permit and all other regulatory approvals to proceed this season. Timberline Drilling Inc. has been engaged to drill approximately 12,000-15,000 feet of diamond drill core on the Company's Herbert gold project.
The upcoming core drill program will test multiple targets significantly deeper and further to the east than in years past. The Company will specifically target the Main, Deep Trench, and Goat veins during this program in order to expand upon its most recent NI 43-101 mineral resource which consists of consists of: an indicated resource of 606,500 ounces of gold at an average grade of 10.03 g/t Au (1,880,500 tonnes); and an inferred resource of 251,700 ounces of gold at an average grade of 14.15 g/t Au (553,429 tonnes).
Timberline's experienced drill crews are already in Alaska and will not be subject to quarantine restrictions. The Company expects an early to mid-July start and is fully financed for the upcoming drill program. The Company intends to provide a more specific update with added details once mobilization is underway.
"We're looking forward to proceeding on schedule with 2020 drill program and further demonstrating the potential at the Herbert gold project," said Ian Klassen, President and CEO "We've got a first class experienced drill partner in Timberline and are fortunate to be operating in a supportive jurisdiction which has done an excellent job of controlling the spread of COVID-19."
Impact of COVID-19
Grande Portage is carefully monitoring the public health impact of the coronavirus (COVID-19) on a daily basis. Our first priority is the health and safety of our communities, shareholders, contractors, employees and other stakeholders. The Grande Portage team has been working closely to ensure all the correct protocols and safety precautions are in place. Management continues to work remotely and they have kept in regular contact with our stakeholders (who remain safe at home with their families), our investors and interested parties. The Company will continue to monitor the evolving COVID-19 situation and will continue to act proactively to protect the health of its workforce.
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 nearly seven million ounces of gold. The Company's recent Mineral Resource estimate is quoted at a base case mineral resources cut-off grade of 2.50 grams per tonne gold (g/t Au) and consists of: An indicated resource of 606,500 ounces of gold at an average grade of 10.03 g/t Au (1,880,500 tonnes); and An inferred resource of 251,700 ounces of gold at an average grade of 14.15 g/t Au (553,429 tonnes).
ON BEHALF OF THE BOARD
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
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