Grande Portage Resources Ltd.

  • ISIN: CA38655P2017
  • Land: .

Nachricht vom 09.07.2018 | 14:00

Grande Portage Resources Announces Drill Program Now Underway

DGAP-News: Grande Portage Resources Ltd. / Key word(s): Miscellaneous

09.07.2018 / 14:00
The issuer is solely responsible for the content of this announcement.

Vancouver, British Columbia--(Newsfile Corp. - July 9, 2018) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ('Grande Portage' or 'the Company') is pleased to announce that it has commenced drill and crew mobilization and expects to commence drilling by July 11, using two 12 hour shifts per day.

Grande Portage intends to drill approximately 18-20 holes from up to three different platforms which will test up to four separate major veins and their satellitic structures. The 2018 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 primarily focusing on expansion of the gold-bearing Goat and Deep Trench veins.

Ian Klassen, Grande Portage's CEO remarked, 'Our technical team has outlined a great program for 2018. Past drilling yielded very encouraging results including numerous multi ounce assays on several veins including; DDH11E-2 which reported 37.07 g/t gold over 15.7m, DDH12-311A which reported 59.91 g/t gold over 8.08m. Our project is well situated in a historically proven and prolific gold belt. We are really encouraged by past results and look forward to building upon our most recent and significantly enhanced NI 43-101 filed in May 2018.'

In addition to the drilling program, a LiDAR survey was recently flown over the project area covering approximately 5000 acres which will provide a significantly enhanced topographic base map of the area. LiDAR can effectively penetrate brush and tree-covered terrain making topographic features and lineations caused by structures in the bedrock much more easily mapped on the ground which helps greatly in the all-important structural interpretation of the bedrock hosting the Herbert deposits.

Carl Hale, CPG, a geologist with more than 40 years experience, is the Qualified Person for this release within the meaning of NI 43-101 and has reviewed the technical content of this release and has approved its content.

About Grande Portage Resources Ltd.

Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company principally focused on the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% leasehold interest in the Herbert Gold property, subject to a 5% NRS in favour of the underlying property owner. The Herbert Gold property has a NI 43-101 technical report completed with an uncut Indicated Mineral Resource of 1,107,000 tonnes containing 257,950 oz of gold at 7.25 g/t and uncut Inferred Mineral Resources of 423,200 tonnes containing 82,200 oz of gold at 6.04g/t, each at a 2.5 gpt cut-off. The 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 results from the Company's drilling programs confirm the identification of major elements of a complex mesothermal gold-quartz system with numerous targets.


Ian Klassen, President

For further information please contact:
Mr. Ian Klassen
Phone: (604) 899-0106


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09.07.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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