Grande Portage Announces Channel Sample Assays of 8.46 OPT Gold and 6.53 OPT Silver on Herbert's Goat Vein
VANCOUVER, B.C., October 10, 2018 - Grande Portage Resources Ltd. (TSX-V: "GPG"); (OTCQB: "GPTRF"); (Frankfurt: "GPB"); ("Grande Portage" or the "Company") is pleased to announce gold assay results from two surface channel samples collected from the Goat Vein at its Herbert Gold project in SE Alaska.
Goat Vein Channel Sample Highlights:
- Channel sample #54524 assayed 129.02 gpt gold (3.76 opt) & 68 gpt silver (1.98 opt)
- Channel sample #54525 assayed 290 gpt gold (8.46 opt) & 224 gpt silver (6.53 opt)
By way of historical background, during the 2017 exploration and drill program a number of representative grab samples were taken from the Goat Vein assaying up 6.75 opt/gold with 49.8 gpt/silver. (see news release dated September 6th, 2017). Notwithstanding the impressive grades, grab samples are not sufficient as an assay contributor to NI 43-101 resource estimates. Therefore, during the Company's recently completed 2018 program it sought to include channel samples which are acceptable for inclusion into resource estimates. The two 2018 channel samples cut at 90 degrees to the same Goat Vein are located just East of the mid-point of the inferred strike of the vein where rapid erosion of the stream bottom recently exposed a segment of the resistant mineralized quartz vein and some of the altered wall rocks.
The Goat Vein currently has an indicated length of over 2300 feet (700 meters) running East to West, dipping at 75 degrees to the North. Channel #54524 measured approximately 4" x 3" x 1.12 meters true width and assayed 129.02 gpt gold (3.76 opt) with 68 gpt silver (1.98 opt). Channel #54525 was collected 23 feet (7 meters) to the West, measured approximately 2.0" x 3" x 1.02 meters true width and assayed 290 gpt gold (8.46 opt) and 224 gpt silver (6.53 opt). Sample #54525 was processed by ALS Labs using metallic screening for coarse gold, fire assaying and multi element ICP procedures. Sample #54524 was sent to Bureau Veritas Labs for assay and additional metallurgical testing, those results are expected shortly. These assays qualify for addition into future resource calculations.
Ian Klassen, Grande Portage's CEO remarked "The continuing confirmation that the Goat Vein exploration program yields impressive gold assays reaffirms our commitment to the Herbert Gold property development. We are delighted to receive these gold assays from the Goat Vein as representatively tested at surface. The high grade nature of the results further encourage us to believe that the Goat Vein will be as prolific as the Deep Trench and Main Veins. We will begin receiving drill assays shortly, full details of our 2018 drill program 15 hole program will be announced upon receipt".
The qualified person for this news release is Mr. Carl Hale, P.Geo. Mr. Hale is a Qualified Person as defined by NI 43-101, and is responsible for the technical content of this press release.
About Grande Portage:
Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company principally focused on the Herbert Gold Property situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% leasehold interest in the Herbert Gold Property, subject to a 5% NSR in favour of the underlying property owners. The Herbert Gold Property has an amended and restated NI 43-101 technical report dated July 12, 2018, effective May 28, 2018, completed with an uncut Indicated Mineral Resource of 1,107,000 tonnes containing 257,950 oz of gold at 7.25 g/t and uncut Inferred Mineral Resources of 423,200 tonnes containing 82,200 oz of gold at 6.04g/t, each at a 2.5 gpt cut-off. The 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 results from the Company's drilling programs confirm the identification of major elements of a complex mesothermal gold-quartz system with numerous targets.
ON BEHALF OF THE BOARD
Ian M. Klassen
President & Chief Executive Officer
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