Grande Portage Resources Announces Signing of Drill Agreement and Mobilization
Vancouver, June 16, 2021 - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ("Grande Portage" or "the Company") is pleased to announce that it is taking the necessary steps to prepare for its upcoming drill season at the Herbert Gold project in SE Alaska.
As previously announced, the Company has received all permits and all other regulatory approvals to proceed this season. NASCO Industrial Services and Supply ("NISS") has been engaged to drill up to 24,000 feet of diamond drill core on the Company's Herbert gold project.
The upcoming drill program, expected to start in the next two weeks, will test multiple targets from up to nine platforms. The Company intends to;
- test the eastern extensions of the Goat vein
- expand coverage of the western, central and eastern portions of the Deep Trench and Main veins
- drill deeper to expand coverage on the Main vein
- expand drill testing of the newly discovered Sleeping Giant vein, where in 2020 the Company encountered assays including:
- DDH 20T-7 reported 50.84 gpt gold over 1.3m;
- DDH 20T-2B reported 43.03 gpt gold over 1.5m.
Ian Klassen, the Company's CEO remarked, "We are very excited to start this season's drill program, with NISS, a first class operator, especially on the heels of our recently announced NI resource calculation. Our geological team, led by Carl Hale is very optimistic about the continued opportunities to expand the Herbert resource, a high grade gold project with tremendous growth potential."
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
"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
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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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/87671
