News Releases

News Releases

Grande Portage Resources Announces 4.50 meters Grading 11.78 gpt/Gold and 1.48 meters Grading 29.2 gpt/Gold at the Herbert Gold Project

December 9, 2020

VANCOUVER, BC, December 9, 2020 –  Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce additional assay results from the recently completed drill program at its Herbert Gold Project located in S.E Alaska. The following assay results, in the table below, are from Pad U and H, which tested the Ridge, Main, Deep Trench, Floyd and Elusive Veins.  Results from the Elusive and Floyd veins have not yet been received. Please see the following link for a map outlining the 2020 drill program: https://www.grandeportage.com/projects/herbert-gold-project/.  Once the Company has received its full compliment of assay results for the drill program it will post various longitudinal section maps on its website.

Hole
Name
From
(m)
To
(m)
Intrvl.
(m)
Au,
g/t
Location
20U-1 59.82 61.30 1.48 29.210 Ridge structure
20U-1 161.75 164.13 2.38 11.466 Main Vein
20U-1 461.95 464.21 2.26 2.928 Deep Trench
20U-2 34.74 36.80 2.06 3.989 H. W. to Ridge
20U-2 186.80 188.32 1.52 2.837 Main Vein
20U-2 523.90 524.32 0.42 3.547 Deep Trench
20U-3 223.00 224.65 1.65 3.864 Main Vein
20U-4 107.45 108.85 1.40 16.530 Ridge structure
20U-4 219.19 220.60 1.41 1.38 Main Vein
20H-1 130.45 131.67 1.22 2.808 Deep Trench
20H-2 211.46 211.85 0.39 3.802 Deep Trench
20H-2 216.58 217.63 1.05 3.828 Deep Trench
20H-3 99.88 104.38 4.50 11.773 Deep Trench

Collar Information For Above Holes:

Hole UTM M. East UTM M. West Elev. M. Az. Dip Hole Length, m.
20U-1 518418 6488009 128 184 -43.0 491.64
20U-2 518418 6488009 128 166 -57.0 598.63
20U-3 518418 6488009 128 166 -64.0 311.81
20U-4 518418 6488009 128 112 -49.0 311.51
20H-1 518441 6487736 228 130 -45.0 192.63
20H-2 518441 6487736 228 130 -67.0 223.73
20H-3 518441 6487736 228 170 -45.0 494.39

Drilling from the U Pad in 2020 mainly targeted the Deep Trench Vein but also intersected the Main Vein at mid-depths (-40 to -80 meters elev.) near the eastern limits of previous drilling and the Ridge Vein.  All four holes from U Pad hit strong shearing and hydrothermal alteration at the intersections with the Main Vein with gold values ranging from 11.466 g/t over 2.38 meters to 1.38 g/t over 1.41 meters in 20U-4.

A strong intercept on the Ridge Vein in 20U-1 yielded 1.48 meters of 29.21 g/t Au and another in 20U-4 showed 1.4 meters of 16.53 g/t Au with visible gold in the core.  These two intercepts are approximately 70 meters apart east to west.  The Ridge Vein is an intermediate vein situated in the structural block between the larger Goat and Main Vein structures.

The targeted area of the Deep Trench Vein was beyond the eastern limits of previous drilling and at depth.  Holes 20U-1 & 2 and 20H-1 through 3 hit the vein with the results shown in the chart above.  The best intercept was in 20H-3 with 4.50 meters of 11.773 g/t Au with visible gold in the core.  This weighted assay includes a sample showing 0.77 meters of 51.26 g/t.

The Company drilled 8375 meters in 2020 with two drill rigs and placed holes into the North Vein, Goat Vein, Sleeping Giant and Ridge Veins, Main Vein, Deep Trench, Floyd and Elusive Veins and numerous subsidiary veins and structures in between.

New incoming sample results are expected throughout December and into January  Assay processing from the lab has been especially slow this year due to Covid-19 related protocols.

Ian Klassen, President of the Company remarked, “These holes continue to add confidence that this system is pervasive and will continue to grow. All veins drilled have encountered mineralized material. Mesothermal veins are usually less than two meters wide and often occur in parallel sets just as they are presented at the Herbert deposit”.

Additional lab results will be reported in future disclosures as they are received from the lab and QA/QC has been met. Samples taken for assay are split from the core with a diamond saw with one half being sent to Bureau Veritas Labs, Richmond, B.C., an independent lab from the Company.  The Company geologist who is logging the core identifies certain sections which could contain coarse gold and marks them for the special preparation procedure of metallic screening which captures the nuggety gold in the assay. Known standards and blanks are inserted into the stream of samples on a regular basis.  Additionally, all core is photographed with a high resolution camera for future viewing.

The Company also announces that, subject to TSX Venture Exchange approval, it has granted incentive stock options to a Consultant to purchase up to 350,000 common shares exercisable on or before December 8, 2021 at a price of $0.45 (CAD) per share.

Impact of COVID-19

Grande Portage is carefully monitoring the public health impact of the coronavirus (COVID-19) on a daily basis. Our first priority is the health and safety of our communities, shareholders, contractors, employees and other stakeholders. The Grande Portage team has been working closely to ensure all the correct protocols and safety precautions are in place.  The Company will continue to monitor the evolving COVID-19 situation and will continue to act proactively to protect the health of its workforce.

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 nearly seven million ounces of gold.  The Company's recent Mineral Resource estimate (Webb, 2019, available on the Company’s website or on SEDAR.COM ) is reported at a base case mineral resources cut-off grade of 2.50 grams per tonne gold (g/t Au) and consists of: An indicated resource of 606,500 ounces of gold at an average grade of 10.03 g/t Au (1,880,500 tonnes); and an inferred resource of 251,700 ounces of gold at an average grade of 14.15 g/t Au (553,429 tonnes).  The resource assumes underground mining techniques, a gold price of $1,300 and are reported at a 2.5 gpt cut-off. Composites were capped at 125 gpt. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.  There is no certainty that all or any part of the Mineral Resources will be converted to Mineral Reserves. The estimate of Mineral Resources requires assumptions that are believed to be reasonable and may be materially affected by environmental permitting, legal, title, sociopolitical, marketing or other relevant issues.

On Behalf of the Board

“Ian Klassen”
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: Ian@grandeportage.com
www.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. 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE


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