Grande Portage Resources Ltd.

  • ISIN: CA38655P2017
  • Land: .

Nachricht vom 26.10.2017 | 09:05

Grande Portage Resources Announces 2.64 Meters (8.7 ft) Grading 27.93 gpt/Gold & 6.3 Meters (20.67 ft) Grading 7.31 gpt/Gold

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

26.10.2017 / 09:05
The issuer is solely responsible for the content of this announcement.


Vancouver, British Columbia--(Newsfile Corp. - October 26, 2017) - Grande Portage Resources Ltd. (TSXV: GPG) ('Grande Portage' or 'the Company') is pleased to announce the initial drill results from the Goat Vein during the 2017 season. This part of the program consisted of eight diamond drill holes from two platforms, K and L Pads, for a total length of 1952 meters. Additional geological geological mapping and sampling was conducted to the east and north of the vein system.

The drilling results further validate the continuity of the Goat Vein structure over a confirmed distance of 300 metres. However, when combined with the surface mapping the new strike length has increased to 650 metres at a minimum. Importantly, the drilling also shows significant potential for the development of mineable subsidiary veins in both the hanging and footwalls of the Goat Creek structure. A summary of mineralized intervals of the drilling on the Goat Vein is shown in the table below. In addition, Hole 17L-2 returned strong silver values with the interval 164.53-166.0m showing 35.4 ppm Ag.





Weighted
HoleFromToIntrvl.Average
Name(m)(m)(m)Au,gptDescription
17K-157.6158.490.8810.54H.W. vein
17K-180.5382.101.575.66H.W. vein
17K-1150.70151.701.001.28Goat Vein
17K-2110.20111.351.154.91H.W. vein
17K-2203.90204.370.471.13Goat Vein
17K-3162.55162.850.303.14F.W. vein
17K-439.8240.310.495.65H.W. vein
17K-4168.86172.003.141.57Goat Vein
17L-197.9098.360.4626.30H.W. vein
17L-1146.17147.301.132.95F.W. vein
17L-277.5478.871.332.20H.W. vein
17L-2163.36166.002.6427.93Goat Vein
17L-379.8080.550.754.26H.W. vein
17L-3101.96103.921.967.50Goat Vein
17L-3136.55137.551.006.90F.W. vein
17L-3302.18302.850.676.89Main Vein
17L-3306.05308.242.195.09Main Vein
17L-3417.20417.940.746.24F.W. vein
17L-495.0696.401.3410.61H.W. vein
17L-4171.30172.020.727.12H.W. vein
17L-4181.20187.506.307.31Goat Vein

 

**Note: 'H.W' is hanging wall and 'F.W' is foot wall.

Ian Klassen, President of the Company remarked, 'This is a terrifc re-affirmation of the emerging mesothermal vein system we have at the Herbert. This results add nicely to what is a growing deposit of almost 200,000 ounces (Indicated category) already identified. Mesothermal veins are known for their large size and continuation to depth, and therefore, are a major source of the world's gold production. Veins are usually less than two meters wide and often occur in parallel sets just like we see at the Herbert deposit'. 

The Company will announce more results, in due course, as they are returned from the laboratory.

Carl Hale, CPG, a geologist of more than 40 years' experience, will direct the field program and will act as the qualified person as that term is defined under NI 43-101.

About Grande Portage Resources Ltd.

Grande Portage Resources Ltd. is a 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
________________________________________
Ian Klassen, President

For further information please contact:
Mr. Ian Klassen
Phone: (604) 899-0106
Email: ian@grandeportage.com
Website: www.grandeportage.com

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

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26.10.2017 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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