19:34:31 EDT Wed 22 Sep 2021
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Grande Portage Resources Ltd (2)
Symbol GPG
Shares Issued 96,207,077
Close 2021-07-20 C$ 0.54
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Grande Portage begins drill program at Herbert

2021-07-21 11:59 ET - News Release

Mr. Ian Klassen reports


Grande Portage Resources Ltd. has commenced drilling using one rig (two 12-hour shifts per day) at its Herbert gold project in southeast Alaska.

The company is also pleased to announce that it has added another drill rig to accelerate its current drill program. This rig is due to arrive and be operational within two weeks.

Drilling is currently under way on the eastern extension of the Goat vein. The 2021 drill program will include holes testing the eastern extensions of the Deep Trench vein, and into the deepest central and easternmost sections of the Main vein drilled to date. Additionally, the plans include holes which will further test the Sleeping Giant, Ridge, Floyd and Elusive veins. New holes into the Goat vein will primarily target the eastern extensions of the vein as it approaches the Eastern Boundary fault, in addition to several holes designed to test the Western Boundary fault.

Several of the targets to be drilled on the Main vein are extensions to depth and to the east of well-mineralized holes encountered in 2020 which include 20T-8 (2.63 metres of 18.67 grams per tonne gold), 20T-11 (2.83 m at 5.39 g/t Au), 20T-7 (2.91 m of 7.083 g/t Au), and 20T-6 (1.96 m of 7.58 g/t Au). Two of these holes will be the deepest holes drilled on the Main vein (to negative 400 metres elevation). One of the objectives of this year's program is to continue exploration into areas where the Main and Goat veins may extend into the Western Fault metasediments. This zone has yielded bonanza-grade mineralization in a previous drill hole 11I-4 where assays reported 3.04 m of 1,328 g/t silver and 3.42 g/t gold including; 0.93 m of 4,010 g/t silver, 7.75 g/t gold.

Grande Portage intends to drill approximately 8,000 metres. The company will drill approximately 25 holes from up to nine separate platforms which will test the Herbert's primary veins and their satellite structures. The 2021 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.

Ian Klassen, Grande Portage's chief executive officer, remarked: "It is a very exciting time for Grande Portage and its shareholders as we accelerate the drill program at the Herbert gold project. We are pleased with the deposit's growth over the last few years and look forward to continued success during our 2021 season. Our shareholders can expect the first results from this year's drill campaign in late summer and a steady flow of drill results throughout the remainder of 2021."

For more information about the company's drill target areas please visit its website.

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 National Instrument 43-101.

About Grande Portage Resources Ltd.

Grande Portage is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 kilometres north of Juneau, Alaska. The company holds a 100-per-cent 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-sulphide veins. The project lies prominently within the 160-kilometre-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 three grams per tonne gold 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).

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