Grande Portage Announces Drill Program Now Underway
VANCOUVER, BC, July 20, 2017 - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Company") is pleased to announce that it has commenced diamond drilling at its mesothermal vein Herbert Gold project near Juneau, Alaska.
Grande Portage intends to drill approximately thirteen holes from up to four different platforms which will test up to four separate major veins and their satellitic structures. The 2017 drill program is a continuation of previous drilling which successfully tested multiple gold-quartz veins of the Herbert system with very encouraging results. The upcoming drill program will test targets significantly deeper and further to the east than in past years. The Company will specifically target the Main, Deep Trench, Ridge and Goat veins during this season.
Ian Klassen, Grande Portage's CEO remarked, "Its terrific to be back drilling these targets in Alaska. Past drilling has yielded very encouraging results including numerous multi ounce assays on several veins including; DDH11E-2 reported 37.07 g/t gold over 15.7m, DDH12-311A reported 59.91 g/t gold over 8.08m. Our project is well situated in a historically proven and prolific gold belt. We are very excited to now step out and build upon the resource."
In addition, the Company announces that subject to TSX Venture Exchange approval, the Company has granted incentive stock options to various directors, officers and consultants to purchase up to 800,000 common shares exercisable on or before July 19, 2022 at a price of $0.20 per share.
Carl Hale, CPG, a geologist of more than 40 years' experience, will direct the field program and will act as the qualified person as that term is defined under NI 43-101.
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company principally 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 has a NI 43-101 technical report completed with indicated resources of 821,100 tonnes containing 182,400 oz. of gold at 6.91 g/t. Inferred resources of 51,600 tonnes containing 12,800 oz. of gold at 7.73 g/t. 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
For further information please contact:
Mr. Ian Klassen
Phone: (604) 899-0106
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements.
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