Grande Portage Resources Announces Excellent Results from Its Initial Environmental Testing at the Herbert Gold Project in S.E. Alaska
Vancouver, December 13, 2022 - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ("Grande Portage" or "the Company") is pleased to report that it has received very positive acid base accounting (ABA) results from its Herbert Gold Property in S.E. Alaska.
ABA tests are done as part of the permitting process to demonstrate what the acid generating potential is for the rocks around the Herbert Gold Deposit. Geochemical Solutions LLC of Colorado, tested a total of eight baseline samples from wallrocks adjacent to the mineralized veins within the Herbert Gold Project area. All ABA samples reported low acid potential and very high neutralization potential such that all rocks are net acid consumers and therefor are unlikely to produce acid. In addition, surface waters were collected to assess chemistries and suspended solids. Geochemical Solutions LLC reports that "Chemically, the water is very clean with very low total dissolved solids."
Mr. Ian Klassen, CEO, reports, "These results demonstrate no potential issues for acid rock drainage at the Herbert Gold Project. The simple metallurgy and lack of identifiable environmental issues assist the company in developing the Herbert Gold Project's NI 43-101 Gold Resource shown below:"
Table 1. Gold Resource on Herbert Gold Project, May 12, 2021.
|Classification||Tonnes||Grade (gpt)||Ounces of Gold|
NI 43-101 report May 12, 2021. D.R. Webb, Ph.D., P.Geol, P.Eng.
Note: Assay results from the 2021/2022 drill programs have not yet been added to the Company's resource calculation.
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 million 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 grade 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 tonnes); 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 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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