Grande Portage Resources Drills 6.37 Meters of 24.39 gpt/Gold
VANCOUVER, BC, November 27, 2018 – Grande Portage Resources Ltd. (TSX-V: "GPG"); (OTCQB: "GPTRF"); (Frankfurt: "GPB"); ("Grande Portage" or the "Company") is pleased to announce assay results from Hole 18M-12.
The majority of the Company's drilling in the 2018 season was focused on the Goat Vein structure from the M Pad. Diamond drill hole 18M-12 was drilled from the north side of the Goat Vein toward the southwest and intersected the main structure at an approximate depth of 230 meters. The main Goat Vein structure at this location is 9.9 meters wide and contains an interval of 6.37 meters (20.9 feet) (4.97 m true width) just above the footwall which returned a weighted average of 24.39 grams per ton gold (0.712 ounces per ton). Contained within this interval was a 0.8 meter sample showing 193 gpt (5.64 opt) gold. The vein consists of highly sheared and fractured and hydrothermally altered quartz diorite and disseminated arsenopyrite with local broken quartz and very fine grained galena, pyrite and sphalerite with visible gold grains. This intercept occurs approximately 100 meters east of the projected western boundary of the Goat structure which is a major lithologic and structural contact with a younger metasedimentary and volcanic rock unit.
Ian Klassen, Grande Portage's CEO, commented "This is a terrific development in the step out expansion of the Herbert gold deposit. The more this property is drilled, the more we learn and will potentially continue to add to the mineral resource. It's worth noting that the Company has never missed a drill intercept into this gold pervasive mesothermal vein system. We look forward to the results from the next eleven holes as we advance the Herbert Gold project."
The Goat Vein structure is the northern-most of the major east-west striking, north dipping veins on the Herbert Gold property discovered to date. It has a length at the surface of approximately 850 meters (2700 feet) and dips north at about 75 degrees. The eastern two thirds of its length follows the bottom of the deep chasm through which Goat Creek flows. The vein crops out in one place about 500 meters from the west end in the creek bottom where a 1.02 meter channel sample taken this year of the quartz-arsenopyrite-galena-sphalerite vein returned 290 gpt gold (8.46 opt) and 224 gpt silver (6.53 opt).
In addition to the impressive intercept of the main Goat Structure, hole 18M-12 also intercepted a hanging wall satellite vein which also returned excellent results. This satellite vein occurs about 70 meters above the main structure and consists of a 4.5 meter intercept of multiple quartz veins and faulted and altered quartz diorite. The shearing is not as pervasive as the main zone 70 meters below and the quartz veining hence is more solid with it's original structure preserved. The quartz contains disseminated arsenopyrite, galena and sphalerite along with visible gold flakes. A weighted average of the well-mineralized portion of this vein showed 25.56 gpt Au (0.75 opt) over 2.16 meters (1.73 meters true width). A 0.48 meter intercept within the vein returned 90.4 gpt Au. Within this overall structure the best mineralization occurs near the hanging wall of the satellite zone, in contrast to the main Goat structure encountered below (230m from surface).
Samples are analyzed by an independent lab in Vancouver, with the more highly mineralized intervals processed using the metallic screening and fire assay method which assures no 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 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, 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 160 km 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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