VANCOUVER, BC, JULY 28, 2020 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB: “GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce that its 2ND drill rig is on site and turning at the Herbert gold property located S.E Alaska. This rig, operated by Alaska Earth Sciences, is currently set up on Pad U which will test unexplored areas of the Deep Trench and Main Veins.
The first rig is drilling long holes on the eastern extension of the Goat, Ridge and Main veins and is advancing as planned.
As well, the Company is pleased to report that early-season surface exploration by geologists has identified at least two quartz vein outcrops of the North Vein which will now be trenched and channel sampled. A majority of this vein is covered by some overburden but the fault and its topographic expression can be traced for over 500 meters.
The North Vein, which only has two drill holes testing it to date, is the northernmost vein of the set of parallel veins comprised of the Goat, Main Vein, and Deep Trench, all of which have significant amounts of associated gold. This vein will be tested by two more drill holes this season from the T Pad.
Assay turnaround times
The Company currently estimates five to seven weeks for turnaround of assay results following completion of a drill hole. This time is required to complete core logging, core sampling, transport to the assay lab, assaying, and subsequent QA/QC (quality assurance/quality control) validation and check assays. Interested parties are cautioned that significant delays may occur due to backlogs at the lab and possible quality control issues identified by the lab, or the company, with particular samples.
Impact of COVID-19
Grande Portage is carefully monitoring the public health impact of the coronavirus (COVID-19) on a daily basis. Our first priority is the health and safety of our communities, shareholders, contractors, employees and other stakeholders. The Grande Portage team has been working closely to ensure all the correct protocols and safety precautions are in place. The Company will continue to monitor the evolving COVID-19 situation and will continue to act proactively to protect the health of its workforce.
This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years of experience and a Qualified Person as defined under NI #43-101.
About Grande Portage:
Grande Portage is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% leasehold interest in the Herbert property,. The Herbert Gold property 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 Company’s recent mineral resource estimate is quoted at a base case mineral resources cut-off grade of 2.50 grams per tonne gold (g/t Au) and consists of: An indicated resource of 606,500 ounces of gold at an average grade of 10.03 g/t Au (1,880,500 tonnes); and an inferred resource of 251,700 ounces of gold at an average grade of 14.15 g/t Au (553,429 tonnes).
On Behalf of the Board
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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