VANCOUVER, BC, January 11, 2022 – Grande Portage Resources Ltd. (TSX-V "GPG"); (OTCQB: "GPTRF"); (Frankfurt: "GPB"); ("Grande Portage" or "the Company") announced today that it has filed its 2022 Plan of Operation for mineral exploration at its Herbert Gold project near Juneau, Alaska.
Subject to regulatory approval, the proposed work schedule for 2022 consists of up to 10,000 meters diamond drilling with additional detailed mapping and trench sampling to expand previous exploration. The program will consist of up to two diamond drill rigs utilizing three pads to drill approximately 13 holes.
These holes are planned to test the main mineralized structures at depths to 750 m (plus), while at the same time, penetrating additional structures at shallower levels. Exploration drilling on the Herbert Gold project has progressed to the point where the shallower to mid-depth portions of the major veins between the western and eastern boundary contact faults have been successfully tested over the kilometer strike length. The vein structures and mineralization show no signs of diminishing with depth, therefore it is recommended that further exploration drilling be extended to the deeper regions of the veins which requires a more powerful drill capable of drilling 3000-4000 feet deep. Drilling this deep requires that the drill pads be located further north and eastward because the major veins dip steeply northward and the boundary contact faults both dip to the northeast. In addition, this allows for comprehensive coverage of the veins at depth from two or three pads with fan drilling and also means that expensive drill moves are reduced to a minimum.
Besides drilling the deeper portions of the Goat, Main, and Deep Trench veins, one of the Company's planned drill sites will test the eastern extension of the Deep Trench, the Floyd and the Elusive Structure, which remains virtually unexplored to date.
The purpose of this drilling is:
- Demonstrate that the veins are well mineralized to depths extending 2 to 3 times deeper where the resources have been established, and
- Continue to test eastward extensions of the known veins, and
- Test a poorly exposed section of the property to the north of all known mineralization.
The Herbert Gold Property is host to abundant composite vein-fault structures containing ribbon structure quartz-sulfide veins and lies prominently within the 100 mile long Juneau gold belt, which has produced millions of ounces of gold through a total depth range of thousands of feet.
Additional assay results from the 2021 drill program are expected imminently. Assay processing from the lab has been especially slow this year due to Covid-19 related protocols.
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 M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
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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