Grande Portage Drill Holes Intersect New Mineral Discovery at Herbert Gold Project
VANCOUVER, BC, January 8, 2019 – Grande Portage Resources Ltd. (TSX-V: “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); (“Grande Portage” or the “Company”) is pleased to announce the discovery of a new mineralized zone directly underneath its 2018 M Pad location.
Drill pad M18 was constructed in an area of low topographic expression and was situated on overburden consisting of talus mixed with glacial outwash and alluvium. There was no outcropping bedrock near the drill pad so the discovery of near-surface mineralization under the pad was somewhat of a surprise.
Seven of the eleven holes drilled from M Pad in southerly directions at various azimuths hit shallow mineralization. The character of the mineralization is a series of fractures with pervasive alteration of the quartz diorite host rock. Alteration consists of chlorite and sericite replacement of original mafic minerals along with iron carbonate and arsenopyrite enrichment with minimal quartz. Arsenopyrite is strongly associated with gold in the Herbert vein system.
Hole 18M-10 encountered 8.4 meters of 1.65 gpt Au weighted average between 14.0 and 22.7 meters depth with the strongest being 0.94 meters of 3.94 gpt Au. Hole 18M-13 intersected 4.62 meters of 3.77 gpt Au weighted average between 9.1 to 13.72 meters depth with the strongest being 1.14 meters of 9.33 gpt Au.
The location of Pad 18M relative to the local topography suggests this new discovery is similar to structure discovered under Pad F in 2012. That discovery was also a surprise and occurs as a NE-trending structure occupying a topographic trench which intersects with the Deep Trench vein near it’s west end. Several holes drilled from F Pad intersected strong shallow mineralization in this structure and holes drilled from Pad 315 (315D and 315E) just east of the structure returned up to 1.73 meters of 23.23 gpt Au containing an assay of 0.36 m of 97.2 gpt Au with visible gold in the core. This structure under Pad F, termed the F Vein, could connect the Deep Trench with the Main Vein if it is continuous along it’s projection, giving it a possible strike length of nearly 200 meters. The new discovery under Pad M could be a similar structure extending between the Goat Vein and the North Vein, a distance of about 250 meters.
This new discovery of gold mineralization beneath Pad M in 2018 demonstrates the potential for other new discoveries in areas covered by overburden on the Herbert property which have been subjected to more rapid erosion due to their softer and weaker nature caused by structural fracturing and shearing and subsequent hydrothermal alteration and mineralization. Additional drilling will be forthcoming to assess the extent and size of the F Vein and this new discovery and it’s relation to the known mineralized structures, especially the Goat Vein.
Samples are analyzed by an independent lab in Vancouver, with the more highly mineralized intervals processed using the metallic screening and fire assay method which assures no coarse gold is missed in the analysis.
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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