Vancouver, British Columbia–(Newsfile Corp. – July 15, 2020) – Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) (“Grande Portage” or “the Company“) is pleased to announce that it has added a 2nd drill rig to its current drill program at its Herbert gold property located S.E Alaska. This rig will be dedicated to exploration drilling on Pad U and Pad Y which will test unexplored areas of the Deep Trench and Main Veins. This rig is due to arrive and be operational within 14 days.
Drilling is currently underway on the eastern extension of the Goat Vein. In addition to testing extensions of the Goat Vein, which is open both to the east and west and at depth, the program includes holes into the North Vein, the Main Vein, Deep Trench, Floyd and the Elusive Veins. Surface exploration will include detailed geologic mapping and sampling in the areas of the North Vein and the Elusive Vein which have received minimal attention previously.
The North Vein has only been drilled once previously in 2018 near the western end from Pad M with one of the holes intersecting 0.41m of 27.8 gpt/gold. The planned new holes are near the eastern end of the vein which has a potential strike length of approximately 600 meters and crops out at the surface with a reported one meter thick quartz vein. The planned holes into the Main Vein and Deep Trench will in general go deeper and farther eastward than previously drilled. The Elusive Vein has never been drill tested and was identified by LiDAR interpretation and subsequent discovery of two outcrops and several earlier anomalous geochemical sample results.
The Company also wishes to announce that it has retained two additional, seasoned geologists who are joining the exploration team. Both will be based in Juneau, Ak.
David Atkinson obtained an Honors BSc. with first class standing in Geology from Brock University, 1985, followed by graduate studies in the Department of Earth Sciences at University of Western Ontario, 1986-1990. David worked on various field projects exploring for uranium, base metals, semi & precious metals and PGE in remote Arctic regions of NWT and Nunavut, as well as Ontario, Quebec, Nfld, and AK.
Andrew Gregovich has been working as an exploration geologist in Alaska since 2018, primarily working on sediment-hosted base metal and orogenic gold deposits. Andrew has a BA in Geology from Colorado College and is an incoming MSCE student in geotechnical engineering at the University of Washington.
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 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% leasehold 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
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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