Grande Portage Resources Announces Interim Drilling Program Update and Drills 17.4 Gpt GOLD over 2.95 Meters ON Goat Vein at the Herbert GOLD Property IN S.e Alaska
1050 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GRANDE PORTAGE RESOURCES ANNOUNCES INTERIM DRILLING PROGRAM
UPDATE AND DRILLS 17.4 GPT GOLD OVER 2.95 METERS ON GOAT VEIN AT
THE HERBERT GOLD PROPERTY IN S.E ALASKA
VANCOUVER, BC, September 14, 2023 – Grande Portage Resources Ltd. (TSX-V “GPG”); (OTCQB:
“GPTRF”); (Frankfurt: “GPB”); (" Grande Portage" or " the Company") is pleased to provide the following
interim update to its summer drill program at the Herbert Gold project located in southeast Alaska.
To date, the Company has drilled approximately 10,000 feet in 8 holes from 3 platforms. Drilling is well into
hole 9 now and the balance of the program will continue until November. The Company has only received
results on a small percentage of its sample submissions to date while the balance is still at the lab.
Table 1.
Hole Name
UTM
East
UTM
North
Elev.
(m)
Target
AZ
Target
Dip
Depth
(ft) Depth(m)
1 22/23AB-5 518422 6488508 102 165 -49 1019 310.59
2 23M-1 518130 6488262 82 142 -51.5 1152 351.13
3 23M-2 518130 6488262 82 162 -65 1153 351.43
4 23M-3 518130 6488262 82 199 -66 1153 351.43
5 23M-4 518130 6488262 82 130 -52 1173 357.53
6 23P-1 518414 6488282 141 178 -63 1094 333.45
7 23P-2 518414 6488282 141 178 -75 1234 376.12
8 23P-3 518414 6488282 141 145 -69 1623 494.69
9 23P-4
(ongoing)
518414 6488282 141 136 -53 328 100
The first hole was a continuation from 2022 whereby the Company re -entered DDH 22AB-5 drilling to the
south and intersected a four-meter hydrothermally altered structure 150 meters beyond the Goat Vein which
project geologists interpret to be the Sleeping Giant Vein and which contained a 1.2-meter intercept (3.93 ft)
of 7.83 gpt Au. This intercept is anticipated to extend the established resource by extending that zone to
depth by approximately 60 meters. DDH 23AB-5 also intersected a footwall vein of the Main Vein showing
0.52 meters (1.8 ft) of 19.7 gpt Au.
After completing drilling activity on Pad AB, the Company moved the rig to Pad M where it drilled 4 holes to
test the western Goat Vein and the Goat Hanging Wall targets. All drill holes intersected mineralization in the
targeted Goat Vein. Drill hole 23M-1 returned 2.95 meters (9.7 ft) of 17.4 gpt Au which includes 0.92 meters
(3.01 ft) of 55.7 gpt Au.
This hole was located 45 meters west of the Com pany’s historical DDH 18M-6 (61.83 gpt Au/1.2meters), 80
meters above DDH 18M -7 (3.25 gpt Au/2.0 meters), 40 meters below DDH 17L -2 (NSV), and 50 meters
east of DDH 17L -4 (5.90 gpt Au/6.3 meters). Assays are currently pending on the other holes. Drill hole
1050 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
- 2 -
23M-1 was designed to fill in a gap in the Goat Vein mineral resource and should assist in upgrading the
confidence in the mineral resource in this area.
The Company then moved the drill rig to Pad P wh ere 4 holes total will be drilled. DDH 23P-3 extended
southward past the Goat Vein and intersected the Sleeping Giant Vein. The Company has completed 3 holes
from this pad and is pleased to confirm quartz mineralization has been encountered in the holes. Intercept
sample analyses from these holes are also pending.
Once the Company completes drilling at Pad P , the drill rig wil l be moved to Pad BB which is the
easternmost drill pad on the property where it will drill at least four holes testing the eastern portions of the
Goat Vein and the Sleeping Giant Vein. These holes will test the eastward projection of a higher-grade
section of the Goat Vein into open territory.
Mr. Ian Klassen, President and CEO reports that “Our plan in 2023 was to fill in gaps in the established
resource to allow for a higher level of confidence in any new resource estimate and to hav e valuable
incremental step outs in areas that had demonstrated mineralization in the past that might be open f or
expansion”.
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 Resources Ltd. 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% 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 over seven mill ion ounces of
gold. The Company’s updated NI#43 -101 Mineral Resource estimate reported at a base case mineral
resources cut -off grade of 3.0 grams per tonne gold (g/t Au) and consists of: an indicated resource of
1,196,800 ounces of gold at an average gra de of 10.23 g/t Au (3,637,000 tonnes); and an inferred resource of
325,900 ounces of gold at an average grade of 8.91 g/t Au (1,138,000 tonnes), as well as an Indicated resource
of 686,700 ounces of silver at an average grade of 5.87 g/t Ag (3,637,000 tonn es); and an inferred resource of
169,300 ounces of silver at an average grade of 4.63 g/t silver (1,138,000 tonnes).
ON BEHALF OF THE BOARD
“Ian Klassen”
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: [email protected]
www.grandeportage.com
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