News Releases

News Releases

Grande Portage Resources Receives Drill Permit for Upcoming Program at the Herbert Gold Project in S.E. Alaska

April 6, 2023

VANCOUVER, BC, April 6, 2023 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce that it has received all necessary regulatory approvals for its upcoming drill program at its 100% controlled Herbert Gold project located in southeast Alaska.

The Company's 2023 plan is to drill approximately 15 holes over 20,000 feet of diamond drill core on the Company's Herbert Gold project.  The drill program will target many geologically promising high value targets at the Main, Goat, Deep Trench, Ridge, and Sleeping Giant veins from multiple locations. 

The drill holes are designed to be a mix of infill and step out holes, extending existing vein structures where our high-grade Indicated Resource of 1,196,800 ounces of gold (10.23 g/t) and Inferred Resource of 325,900 ounces of gold (8.91g/t gold) has been established (see NR May 12, 2021). Note that 11,550 m of drilling in 24 diamond drill holes from 2021 & 2022 has not yet been incorporated into the Company’s mineral resource calculation.

The Herbert Gold Project 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.  Individual veins and vein systems can be traced for over 500 m on average along strike and from surface (130 m above mean sea level) to depths of 350 m below sea level (open).

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. 

Grant of Options:

In addition, the Company announces that, subject to TSX Venture Exchange approval, it has granted incentive stock options to various directors, employees, advisors and consultants to purchase up to 1,900,000 common shares exercisable for a period of five (5) years at a price of $0.30 per share.

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 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 gold) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t gold (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t gold (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 silver (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 Klassen”
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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