Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Grande Portage Resources (TSXV:GPG) has mobilised crews ahead of schedule for a drilling program at its wholly owned Herbert Gold project
  • The company plans to drill between 15 and 20 holes, testing four separate major veins and related satellite structures
  • Drilling will build on the previously tested gold-quartz veins of the Herbert mesothermal vein, which has so far returned promising results
  • The program will also test targets in an effort to expand the gold-bearing Goat Creek, Main and Deep Trench veins
  • Grande Portage Resources (GPG) is currently steady at C$0.22 per share

Grande Portage Resources (TSXV:GPG) has mobilised crews ahead of schedule for a drilling program at its wholly owned Herbert Gold project.

Located roughly 25 kilometres north of Juneau in southeast Alaska, the Herbert Gold project sits within the 160 kilometre long Juneau Gold Belt, which has to date produced almost seven million ounces of gold.

The property is open to both length and depth, and hosts at least six primary composite vein-fault structures with ribbon structure quartz-sulfide veins.

According to a recent mineral resource estimate, the project holds an indicated resource of 606,500 ounces of gold at an average grade of 10.03 grams per tonne.

In addition, Herbert Gold is thought to host an inferred resource of 251,700 ounces of gold at an average grade of 14.15 grams per tonne.

As part of the upcoming drill program, Grande Portage plans to drill between 15 and 20 holes from up to four different platforms. These will test four separate primary veins and their satellites structures.

The drill holes will build on previous drilling efforts, which intersected several gold-quartz veins of the Herbert mesothermal vein, returning promising results.

The program will also test a range of targets to expand gold-bearing regions within the Goat Creek, Main and Deep Trench veins. The Elusive vein, which was only recently identified from a LiDAR survey, will also be tested.

Previous testing at the Deep Trench vein returned 37.07 grams per tonne of gold over 15.27 metres and 59.91 grams per tonne of gold over 8.08 metres, while the Goat Creek vein returned 30.24 grams per tonne of gold over 9.08 metres.

Ian Klassen, CEO of Grande Portage Resources, said the company’s geological team has outlined an ambitious program for 2020.

“This will involve drilling, surface channel sampling and more metallurgical study. Our project is well situated in a historically proven and prolific gold belt,” he said.

Grande Portage Resources (GPG) is currently steady at C$0.22 per share at 2:10pm EDT.

More From The Market Herald

" Eastern Platinum (TSX:ELR) sign finance facility agreement with Investec Bank

Eastern Platinum (ELR) has signed a finance facility agreement with Investec Bank.

" Revival Gold Intersects Revival (TSXV:RVG) intersects more gold at Beartrack-Arnett

Revival Gold (RVG) released new results from its 2022 drilling program at the Beartrack-Arnett Gold Project.

" Buscando Resources (CSE:BRCO) announces private placement financing

Buscando Resources (BRCO) announced a non-brokered private placement for gross proceeds of $200,000.
The Market Herald Video

" Dundee Corporation (TSX:DC.A) closes privatization of Big River Gold

Dundee (DC.A) has closed its privatization of Big River Gold with Aura Minerals.