VANCOUVER, BC, AUGUST 20, 2020 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce that their drill rig on the T Pad has encountered extremely encouraging veining in the area between the Goat and the Main Veins well beyond the eastern limits of previous drilling efforts. The two intercepts with visible gold in quartz veins were 120 meters east of any previous drilling in the footwall of the Goat Vein and within the area 150 meters south of the vein. These two veins were unexpected and both contained visible gold in the core.
DDH 20T-6 and DDH 20T-7 intercepted these quartz veins approximately 100 meters into the footwall of the Goat Vein. The holes were drilled on an azimuth of 134 degrees with dips of -45 and -63 respectively. Both holes have hit 2 intervals of quartz veins, the latest in DDH 20T-7 having an intercept of 2.58 meters, mostly quartz with coarse-grained arsenopyrite, galena and pyrite with visible gold over a section of quartz at least 6". Veins of this quality were previously unknown in this area between the Goat and the Main, partially because there is almost no earlier drilling down this deep and this far east.
The Company’s geologists feel that these new intercepts almost certainly correlate with vein outcropping on the slope to the south of Goat vein. Where exposed, the veins vary between 4 and ~16 inches wide, strike E-W and have an almost vertical dip. A grab sample of the vein taken in 2017 returned 19.5 gpt/Au, 408 gpt/Ag and 5.37% Pb. The vein apparently strengthens with depth and represents an excellent target for future drilling.
An additional drill hole has been added to the season’s plan from the U Pad which targets an area near the eastern limit of drilling on the Main vein where there are no historical drill holes at an elevation of -50 meters and about half way between an intercept in 10D-2 (1.15m-7.65gpt/gold) and an intercept in this year’s 20T-6 about 200 meters away (deeper and eastward) which showed strong alteration, minor brecciated quartz and some visible gold in the core.
The Company has now drilled 8 holes, two of which are ongoing and has up to 15 more holes planned. At least 7 intervals contained visible gold with all of the holes encountering multiple veins. Sample results are forthcoming with extremely lengthy turn-around times encountered this season.
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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