Grande Portage Resources Ltd.
Grande Portage Resources Ltd.
- ISIN: CA38655P2017
- Land: .
Nachricht vom 05.10.2017 | 09:05
Grande Portage Resources Announces the Completion of Its 2017 Drill Program at the Herbert Gold Project with a Continuation of Visible Gold Encountered in Core
DGAP-News: Grande Portage Resources Ltd. / Key word(s): Miscellaneous
Vancouver, British Columbia--(Newsfile Corp. - October 5, 2017) - Grande Portage Resources Ltd. (TSXV: GPG) ('Grande Portage' or 'the Company') is pleased to announce that it has now completed twelve holes and 3700 metres of its recent 'step-out' (all beyond the limits of the existing resource) drill program. ICP fire assays from ALS Canada Ltd. are pending and are expected to be received by the company shortly and continue through to the end of November. In addition to the normal fire assays and ICP multi-element analyses, the Company has also ordered 78 metallic screen samples where visible gold was noted, to capture coarse gold which might otherwise be lost during processing.
This drill program is a continuation of the Herbert Gold discovery and will be a multiphase/multi-year exploration program. The recent program was designed to extend testing of three separate major veins and their satellite structures and further develop grade tonnage with exceptional previous drill results such as: 11E-2 which graded 37.07 gpt/gold over 15.27 metres; 311A which graded 59.91gpt/gold over 8.08 metres; and 11D-1 which graded 72.3 gpt/gold over 3.05 metres. (Please refer to www.grandeportage.com for all previous drill results.)
Project geologists are extremely encouraged by visual inspection of the core from all 4 of the drill pads. Every hole hit its intended target(s) and many holes encountered subsidiary veins of substantial size with mineralization, such as galena, sphalerite and visible gold suggesting that the upcoming assays should be consistent with past results from the property. The remaining 3 veins as yet are largely untested and will be drilled in future programs.
Several holes such as 17L-3, 17U-1, and 17Y-1 & 2, were designed to test two major veins each. Three of the holes tested the Deep Trench vein much deeper than any previous drilling with very good visual results. Hole 17Y-2 hit visible gold in the Deep Trench vein over 300 metres below sea level which is a good indication that strong grades are not limited by depth. Drilling on the Goat vein was designed to extend the known strike length of the mineralization previously drilled from only one pad. Intersections of the vein drilled from pads K and L prove a strike length of at least 300 metres but when combined with rare surface outcrops and topographic features, a length of at least 600 metres is indicated. The deepest drilling on the Goat to date is slightly less than 200 metres.
Ian Klassen, Grande Portage's CEO remarked, 'We are delighted with the drilling program this year. For some time, our team has known that the Herbert gold discovery has significant expansion potential and this is evidenced by the fact we continue to intercept gold bearing veins laterally and at depths not encountered before.'
The Herbert Gold property is in the historic Juneau Gold Belt, formerly a world class district with producers such the AJ and Treadwell mines and literally dozens of smaller gold mines and prospects. Overall gold production from the district is over 7 million ounces. In 2010, the district was reactivated by the reopening of Coeur Alaska's Kensington gold mine located northwest of the Herbert property and is on track to mine 125,000 ounces Au in each of the next 12+ years. In addition, strong community support has been demonstrated for Hecla Mining Company's polymetallic Green's Creek Mine, a massive sulfide deposit containing silver, gold and zinc located in a parallel trend 20 kilometres to the west.
Carl Hale, CPG, a geologist with more than 40 years of experience is the Q.P. 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% interest in the Herbert property. The Herbert Gold property has a NI 43-101 technical report completed with indicated resources of 821,100 tonnes containing 182,400 oz of gold at 6.91 g/t. Inferred resources of 51,600 tonnes containing 12,800 oz of gold at 7.73 g/t. 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. Grande Portage conducted an initial drill program in the fall of 2010. The results from the drilling program confirm the identification of major elements of a complex mesothermal gold-quartz system with numerous targets. Subsequently, the Company has conducted follow up drill programs of with a total of 108 diamond drill holes from ten different platform locations.
ON BEHALF OF THE BOARD OF DIRECTORS
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/29489
|Company:||Grande Portage Resources Ltd.|
|End of News||DGAP News Service|
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