Grande Portage Resources Announces 2018 Summary and LiDAR Discovery of 16 New Parallel Structures at the Herbert Gold Project
VANCOUVER, BC, January 21, 2019– Grande Portage Resources Ltd. (TSX-V: "GPG"); (OTCQB: "GPTRF"); (Frankfurt: "GPB"); ("Grande Portage" or the "Company") is pleased to announce the balance of assay results from its 2018 drill holes all of which are from the M Pad located 210 meters north of the Goat Vein and extremely promising results from its 2018 LiDAR survey.
Dr. D.R. Webb, Ph.D., P.Geo., P.Eng. conducted an interpretation of the Company's 2018 LiDAR survey which has clearly delineated 16 additional parallel and sub-parallel structures to add to the Company's future exploration and development of its 100% controlled gold project. To date, prospecting, mapping and drilling has tested less than 1,000m of the 4,600m gold trend, and this survey clearly extends the prospective structures for another >1,400 m to the southeast and 400 m to the northwest.
Earlier news releases have described the exceptional results from metallurgical testing and assays from holes drilled from the S Pad into the Deep Trench Vein to the south and the Goat Vein to the north, and the impressive mineralization encountered within the Goat Vein in holes 18M-6 & 12, the drill-tested confirmation of the North Vein, and the new discovery of a mineralized structure directly underneath the M Pad. (see NRs published on 10/22/18, 10/29/18 and 11/27/18).
Ian Klassen, President commented, "The 2018 drill season was a terrific success for the Company. Not only did we publish some spectacular gold assays from the Goat and Deep Trench veins but, in addition, we discovered a parallel gold bearing structure to the north of our historical exploration workings. 80% of our property remains untested. The Company looks forward to updating its resource calculation and then embarking upon its 2019 drill program".
Holes 18M-3-5 were drilled southeastward on an azimuth of 120º at dips of -45º to -80º. All of these holes successfully targeted the Goat Vein, intersecting the structure which showed widths of up to about 15 meters of shearing with associated hydrothermal alteration, variable quartz, with gold values slightly less than the cutoff grade used in the resource calculations. Holes 18M-6 & 7 were also drilled to the southeast on an azimuth of 130º and at dips of -45º and-59º. Both holes hit the Goat Vein and exposed strong shearing and hydrothermal alteration with associated gold mineralization. Extraordinary results from 18M-6 were previously described in a Company news release and include 1.26 meters of 64.19 gpt. Hole 18M-7 encountered 1.81 meters of 3.44 gpt Au in the Goat Vein.
Drill holes 18M-8 – 11 were drilled southerly on an azimuth of 174º at dips of -45º to -80º. All of these holes hit the Goat Vein plus a hanging wall satellite vein which lies approximately 40 meters above the main Goat Vein. Additionally, 18M-8 was continued at depth until it encountered the Main Vein system and the underlying metasediment and volcanic package of rocks.
The hanging wall splay of the Goat Vein in 18M-8 showed a weighted average value of 4.39 gpt over 4.07 meters which includes 0.67 meters of 25.7 gpt gold. The main Goat Vein returned 1.00 meter of 2.01 gpt.
The North Split of the Main Vein in this hole returned 6.50 gpt Au over 1.6 meters 100 m below the deepest intersection in this area and the Main Vein itself consisted of multiple strands, the best of which returned 0.56 meters of 3.04 gpt gold. Hole 18M-9 (-60º) intersected the Goat vein at 278 meters which was approximately 3 meters wide at this location and returned 1.68 meters of 6.03 gpt.
Hole 18M-10 (-74º) intersected nearly 20 meters of the Goat Vein structure showing strong shearing, hydrothermal alteration and brecciation and pervasive arsenopyrite mineralization, the best of which returned 1.10 meters of 3.88 gpt Au. 18M-11 (-80º) hit 2 well-mineralized strands of the Goat Vein structure separated by 10.8 meters, one of which returned 1.2 meters of 3.70 gpt gold and the lower of which showed 1.6 meters of 5.22 gpt Au.
Drill holes 18M-12 & 13 (-53º and -64º respectively) were drilled to the southwest on an azimuth of 201º and both intersected the Goat Vein structure and the overlying satellite vein. Bonanza values were encountered in 18M-12 as described in a previous press release, with values up to 193 gpt Au over 0.8 meters. 18M-13 returned a maximum of 1.10 meters of 1.53 gpt in the Goat Vein and from a near-surface intercept, 4.62 meters of 3.77 gpt Au. The near-surface intercept mentioned is a new discovery and is described in the Company news release of January 8, 2019, and was also encountered in several of the M Pad holes.
Samples were analyzed by an independent lab in Vancouver, with the more highly mineralized intervals processed using the metallic screening and fire assay method which minimizes the chances coarse gold is missed in the analysis.
The qualified person for this news release is Mr. Carl Hale, P.Geo. Mr. Hale is a Qualified Person as defined by NI 43-101, and is responsible for the technical content of this press release.
About Grande Portage:
Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company principally focused on the Herbert Gold Property situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% leasehold interest in the Herbert Gold Property. The Herbert Gold Property has an amended and restated NI 43-101 technical report dated July 12, 2018, effective May 28, 2018, 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. 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.
ON BEHALF OF THE BOARD
Ian M. Klassen
President & Chief Executive Officer
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