VANCOUVER, BC, April 12, 2021 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce that it has engaged Admiralty Environmental, LLC, Core Geoscience LLC, and Jade North LLC. to assist and oversee the collection of baseline data that a developer would need for future mine development at the Herbert Gold Project. Data such as acid/base accounting, water and air quality, and other data requiring longer sampling and analytical times are being initiated. This data will form part of any future environmental assessment on the project. Consultations with the US Forest Service, Alaska Department of Natural Resources, Alaska Department of Fish and Game, Alaska, Department of Environmental Conservation, and other authorizing agencies will be conducted to confirm compliance with all regulations.
Ian Klassen, President and CEO stated “These long lead data points are required of any evolving future mining asset and are critical in de-risking the project. While it is impossible to confirm the direction of any environmental assessment until the size parameters and scope of a project is fully defined, the baseline data required for any EA or EIS will include the data being acquired. This new initiative will add value to the project by advancing such studies”.
In addition, leading up to its 2021 field season, the Company confirms that it has Department of Natural Resources’ permit authorizations (APMA 3049 and the Temporary Water Authorization) as well as its Fish Habitat Permit and the City & Burrough of Juneau Development Permit. The Company expects to receive its 2021 USFS Decision Memorandum shortly.
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 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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