Grande Portage Resources Ltd.

  • ISIN: CA38655P2017
  • Land: .

Nachricht vom 06.09.2017 | 14:02

Grande Portage Resources Announces Outstanding Outcrop Sample on Goat Vein Grading 231 GPT/Gold (6.75 Ounces) with 49.8 GPT/Silver - Drill Results Expected Soon

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

06.09.2017 / 14:02
The issuer is solely responsible for the content of this announcement.


Vancouver, British Columbia--(Newsfile Corp. - September 6, 2017) - Grande Portage Resources Ltd. (TSXV: GPG) ('Grande Portage' or 'the Company') is pleased to announce that it has drilled approximately 2700 meters of its planned 3700 meter summer exploration program on its Herbert Gold project located 25km north of Juneau, Alaska. The drill program is designed to extend testing of three separate major veins and their satellite structures.

Ten holes have now been completed from three drill pad locations. The majority of these holes were designed to expand the strike length of the current northernmost drilled vein (Goat Vein) and to also intercept the Main vein. All holes had good visuals including quartz with disseminated arsenopyrite, pyrite, galena and sphalerite and visible gold was observed in the core. Fire assay analyses from ALS Canada Ltd. are expected imminently on the first few holes. Split core samples from the hearts of the veins are analyzed using the metallic screening process to capture coarse gold which could otherwise be lost during processing.

Pads K and L (160 meters apart) were built approximately 100 meters north of the east-west trending Goat vein. All holes intersected the main structure and showed good mineralization with associated hydrothermal alteration. These intercepts in the drill holes establish a strike length of over 350 meters, however, when combined with a discovery of new outcrops along the eastward projection of the vein, a total of approximately 700 meters of strike length is now indicated. The deepest drilling to date shows good visuals over 200 meters from surface. In addition, one of the holes from Pad L extended southward to the Main vein system intersecting 15 meters of mineralized structure.

One of the newly discovered outcrops of the Goat vein was recently exposed by the rapid erosion of loose boulders and gravel which previously covered the vein. The vein here consists of approximately 4 feet of quartz outcrop with disseminated arsenopyrite, pyrite, galena and sphalerite and visible gold. Hanging wall alteration of the quartz diorite host rock reaches at least 6 feet thick and the footwall contact zone is covered in the creek bed. One of the Company's onsite geologists hammered numerous representative grab samples over a 4-foot width of the exposed Goat vein. The assay results returned from ALS Canada graded an impressive 231gpt gold (6.75 opt) with 49.8 gpt silver (1.45 opt).

Two long holes were drilled from Pad U and the drill rig is now being moved to Pad Y where the last two holes will be drilled, targeting both the Main vein and the Deep Trench vein. All four of these holes target the veins approximately twice as deep as previous drilling, extending the known deposit by an additional 200 meters in depth. Hole 17U-1 intersected over 10 meters of mineralized structure of the Deep Trench vein over 400 meters from the surface and 17U-2 intersected nearly 15 meters of mineralized structure of the Main vein 300 meters from the surface outcrop.

Ian Klassen, Grande Portage's CEO remarked, 'We are extremely pleased to have defined a substantial increase in the mineralized strike length located in the eastern test areas, and to confirm the mineralization at depths beneath previous drilling. Management is highly encouraged as we look forward to expanding tonnage and ounces within this resource'.

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.

The Herbert Gold Property is host to abundant composite vein-fault structures containing ribbon structure quartz-sulfide veins and lies prominently within the 100-mile long Juneau gold belt, which has produced nearly seven million ounces of gold through a total depth range of thousands of feet. 

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

Click on, or paste the following link into your web browser, to view the associated documents http://www.newsfilecorp.com/release/28833


06.09.2017 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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