VANCOUVER, BC, June 3, 2020 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce that it has commenced drill and crew mobilization and expects to commence drilling ahead of schedule on its 100% controlled Herbert Gold project located in SE Alaska.
Grande Portage intends to drill approximately 15-20 holes from up to four different platforms which will test up to four separate major veins and their satellitic structures. The upcoming drill program is a continuation of previous drilling which successfully tested multiple gold-quartz veins of the Herbert mesothermal vein system with very encouraging results.
The current program will further test targets primarily focusing on expansion of the gold bearing Goat, Main, Deep Trench veins and will also test the Elusive vein which has only recently been identified from the Company’s LiDAR survey.
Ian Klassen, Grande Portage’s CEO commented, “Our geological team has outlined an ambitious program for 2020. This will involve drilling, surface channel sampling and more metallurgical study. Our project is well situated in a historically proven and prolific gold belt. We look forward to building upon the Herbert resource, a high-grade gold asset that has a current NI compliant mineral resource of 606,500 ounces (Indicated) 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). Past drilling has yielded very encouraging results including numerous multi ounce assays on several veins including those listed below:”
- 37.07 g/t Au over 15.27 meters (Deep Trench vein)
- 59.91 g/t Au over 8.08 meters (Deep Trench vein)
- 30.24 g/t Au over 9.08 meters (Goat Creek vein)
- 28.41 g/t Au over 11.58 meters (Deep Trench vein)
- 21.55 g/t Au over 6.46 meters (Main vein)
- 15.76 g/t Au over 2.81 meters (Goat Creek vein)
- 21.22 g/t Au over 2.25 meters (Main vein)
- 13.91 g/t Au over 3.12 meters (Main vein)
***the above mentioned are reported as true widths***
Investors are encouraged to visit our website and corporate presentation for a more detailed summary of past drill results. Please visit our website at www.grandeportage.com
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 is quoted 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).
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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