COMPANY PRESS RELEASE
Grande Portage Resources Ltd. (TSXV: GPG) is pleased to announce that initial results from surface samples and diamond drilling on its Herbert gold property located S.E Alaska have been returned. Almost 4000 metres of drilling has been accomplished to date.
An outcrop of the Hanging Wall strand of the Goat Vein discovered on the edge of the Herbert River was channel sampled with excellent results. The sample consisted of 1.48 feet (45 centimeters) of quartz with disseminated arsenopyrite, galena, pyrite and some visible gold grains. The sample was processed by metallic screening and fire assay and returned 115.3 g/t Au.
A prior grab sample of the same vein and location returned 73.63 g/t Au. The multi-element spectrographic results have not been returned. A nearby outcrop containing sheeted quartz-filled fractures was sampled. The quartz veins are narrow but carry strong arsenopyrite and galena and free gold. The grab sample of a 10 cm vein returned 17.92 g/t Au.
The two drill rigs operating on the Herbert claims have completed over 4000 meters of the planned 7500 meter program. The following metallic screened fire assayed sample results have been received. Drill hole 21P-3 intercepted 1.61 feet (0.49 meters) of the Goat Vein which returned 9.43 g/t and 1.64 feet (0.50 meters) of the Sleeping Giant vein which shows 14.22 g/t Au.
Assay Turnaround Times
The Company currently estimates 7 to 9 weeks for turnaround of assay results following completion of a drill hole. This time is required to complete core logging, core sampling, transport to the assay lab, assaying, and subsequent QA/QC (quality assurance/quality control) validation and check assays. Interested parties are cautioned that significant delays may occur due to backlogs at the lab and possible quality control issues identified by the lab, or the company, with particular samples.
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.
For more information about our drill target areas please visit our website at www.grandeportage.com or the following link: https://grandeportage.com/projects/herbert-gold-project/
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 Au) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t Au (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t Au (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 Ag (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 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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