VANCOUVER, BC, June 30, 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 drilling, using two 12 hour shifts per day, at its Herbert Gold project in S.E. Alaska.
Grande Portage intends to drill approximately 18-20 holes from up to four different platforms which will test up to four separate major veins and their satellite structures. The 2020 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 drill program will test targets focusing on the expansion of the gold-bearing Goat, Main and Deep Trench veins. It will also test the Floyd vein and the newly discovered Elusive vein which was identified by LiDAR and verified on surface as a quartz vein bearing visible gold.
Ian Klassen, Grande Portage’s CEO remarked, “We are excited to commence our much anticipated summer drill program at the Herbert gold project in Alaska. The Company has generated many very encouraging high-grade drill results in each of its previous drill campaigns. We are now well positioned to follow up on this summer’s drilling program which is entirely focused on expansion.”
In addition, the Company announces that subject to TSX Venture Exchange approval, it has granted incentive stock options to various directors, officers and consultants to purchase up to 650,000 common shares exercisable on or before June 30th, 2025 at a price of $0.35 per share.
For more information about our drill target areas please visit our website at www.grandeportage.com or click the following link: https://www.grandeportage.com/projects/herbert-gold-project
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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