Vancouver, British Columbia–(Newsfile Corp. – July 21, 2021) – Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) (“Grande Portage” or “the Company”) is pleased to announce that on July 4th it commenced drilling using 1 rig (two 12 hour shifts per day) at its Herbert Gold project in S.E. Alaska.
The Company is also pleased to announce that it has added another drill rig to accelerate its current drill program. This rig is due to arrive and be operational within two weeks.
Drilling is currently underway on the eastern extension of the Goat vein. The 2021 drill program will include holes testing the eastern extensions of the Deep Trench vein, and into the deepest central and easternmost sections of the Main vein drilled to date. Additionally, the plans include holes which will further test the Sleeping Giant, Ridge, Floyd and Elusive veins. New holes into the Goat vein will primarily target the eastern extensions of the vein as it approaches the Eastern Boundary fault, in addition to several holes designed to test the Western Boundary fault.
Several of the targets to be drilled on the Main vein are extensions to depth and to the east of well-mineralized holes encountered in 2020 which include 20T-8 (2.63 metres of 18.67g/t Au), 20T-11 (2.83 m @ 5.39 g Au), 20T-7 (2.91m of 7.083g Au), and 20T-6 (1.96m of 7.58g Au). Two of these holes will be the deepest holes drilled on the Main vein (to -400 metres elevation). One of the objectives of this year’s program is to continue exploration into areas where the Main and Goat veins may extend into the Western Fault metasediments. This zone has yielded bonanza grade mineralization in a previous drill hole 11I-4 where assays reported 3.04m of 1,328 g/t silver and 3.42 g/t gold including; .93m of 4,010 g/t silver, 7.75 g/t gold.
Grande Portage intends to drill approximately 8000 metres. The Company will drill approximately 25 holes from up to nine separate platforms which will test the Herbert’s primary veins and their satellite structures. The 2021 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.
Ian Klassen, Grande Portage’s CEO remarked, “It is a very exciting time for Grande Portage and its shareholders as we accelerate the drill program at the Herbert Gold project. We are pleased with the deposit’s growth over the last few years and look forward to continued success during our 2021 season. Our shareholders can expect the first results from this year’s drill campaign in late summer and a steady flow of drill results throughout the remainder of 2021.”
For more information about our drill target areas please visit our website at www.grandeportage.com or click the following link: https://grandeportage.com/projects/herbert-gold-project/.
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 Au) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t Au (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t Au (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 Ag (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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