VANCOUVER, BC, October 29, 2018 – Grande Portage Resources Ltd. (TSX-V: “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); (“Grande Portage” or the “Company”) is pleased to announce the results of another drill hole from its recently completed drill program on the Herbert Gold project located in southeast Alaska.
This hole was drilled from the M Pad and was designed to expand the drill-tested strike length of the Goat vein to the east. The Goat vein is the northernmost of the three major drilled veins on the Herbert property. Strong quartz veining containing disseminated arsenopyrite, pyrite, galena and sphalerite and visible gold was observed in the core.
DDH18M-6 was drilled to intersect the vein about 170 metres beneath and 25 metres east (upstream) of an outcrop of the vein in Goat Creek which returned an assay of 290 gpt gold (8.46 opt) and 224 gpt silver (6.53 opt) from a 1.02 metre (true width) channel sample. Assay results from this hole delivered 6.29 metres (20.6 feet) grading 15.69 gpt/gold. True width of this intercept is 5.22 metres (17.13 feet). Contained within this zone is a 1.046 metre (true width) section grading 64.19 gpt (1.874 opt) near the footwall contact of the structure. The Goat vein structure is a hydrothermally altered and mineralized left-lateral strike-slip shear zone which in this location occurs as a 7.5 metre wide zone in a coarse-grained quartz diorite at the contact with an underlying quartz-diorite porphyry unit.
The Goat Vein is an exceptionally strong and pervasive structure with numerous associated splays and satellite structures which in themselves are often well-mineralized and are future drill targets. The high grade intercept seen in hole 18M-6 is more than 300 metres to the east away from its contact with the source of the mineralizing fluids for all of the numerous Herbert veins.
Ian Klassen, President of Grande Portage stated: "For quite a while we’ve been wanting to continue to drill test the Goat vein where our geological team has high expectations. The largest contributor to the last increase in our Mineral Resource came from the eastern portion of the Goat vein. We are delighted with this result showing further expansion potential and look forward to more results which should be forthcoming soon.”
Samples taken for assay are split from the core with a diamond saw with one half being sent to ALS Labs, Vancouver, an independent lab from the Company. The geologist logging the core identifies certain sections which could contain coarse gold and marks them for the special preparation procedure of metallic screening which captures the nuggety gold in the assay. Known standards and blanks are inserted into the stream of samples on a regular basis. Additionally, all core is photographed with a high resolution camera for future viewing.
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, subject to a 5% NSR in favour of the underlying property owners. 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, 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 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
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