Grande Portage: Assays For Herbert Gold Property Expected In Near Term

Earlier this month, Grande Portage Resources (TSXV: GPG) announced that the company had completed the latest drill program at the firms flagship Herbert Gold Project, located north of Juneau, Alaska. The program saw 21 holes completed within a 8,500 metre program, designed to expand upon known mineralization on the property.

The Herbert Gold project is located within the historic Juneau Gold Belt in southeast Alaska, a belt which has historically produced seven million ounces of gold. The property in total consists of 91 unpatented lode claims that cover 2,000 acres, and is said to largely consist of six vein structures that run parallel to each other at surface.

Furthermore, the property currently has a 43-101 resource, consisting of 606,500 ounces of indicated gold at a grade of 10.03 g/t, along with an inferred resource of 251,700 ounces at 14.15 g/t gold. The resource is based on a cut off grade of 2.50 g/t gold, with the resource having been assembled in mid 2019.

The drill program conducted this year was described by the company as being a continuation of previous drilling that focused on the vein system across the program. Drilling was predominantly focused on the Goat, Main, and Deep Trench Veins, which are described as being the primary targets on the property.

However, the company did note on August 20 that the drill program had hit two new veins on the property that hosted visible gold within the core. The first vein was located 120 metres east of the Goat Vein within its footwall, while the second was located 150 metres south of the vein. The company indicated at the time that the veins were unexpected, with the veins correlating with outcropping south of the Goat vein that are four to sixteen inches wide with an almost vertical dip. Previous grab samples from this outcrop in 2017 revealed 19.5 g/t gold, 408 g/t silver, and 5.37% lead.

Early assays from the drill program have been positive as well, with the company announcing results as high as 52.34 g/t gold over 2.71 metres. Most significantly however, this result came from a location 170 metres east of any previously drilling conducted on the Goat vein to date, providing the company with future drill targets.

Outside of the primary targets, the company also did exploratory drilling on the eastern extension of the North vein, Sleeping Giant, Ridge and Elusive veins as well as the subsidiary structures and veins in between these more defined veins. Notably, all drilling conducted within the program was beyond the limits of the existing resource held at the project.

Assays from the program are said to be expected to be received from the lab throughout the months of November, December, and early 2021. As with everyone as of late, the results have been slightly delayed as a result of the COVID-19 pandemic, which has made the lab move slower than is the norm. Results are expected to be released from the company as they are received.

Grande Portage Resources last traded at $0.425 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Maritime Resources Announces 40,000 Metre Drill Program At Hammerdown

Maritime Resources Corp. (TSXV: MAE) announced today that it has initiated a fully funded, expanded...

Wednesday, June 2, 2021, 09:32:04 AM

Midas Gold Feasibility Study Values Stibnite Gold Project At $1.9 Billion At $1850 Gold

Midas Gold (TSX: MAX) this morning announced the completion of a feasibility study for its...

Tuesday, December 22, 2020, 08:47:07 AM

Xander Resources Acquires Senneville East Property

Xander Resources (TSXV: XND) this morning announced that it has expanded its claims to over...

Friday, June 12, 2020, 09:32:54 AM

Is China Quietly Amassing Gold?

China has been purchasing gold at a rate ten times higher than officially disclosed, buying...

Saturday, December 21, 2024, 09:17:00 AM

Texas Lawmaker Files Bills for Gold, Silver-Backed Money

A Texas legislator has filed two bills to establish a state-sanctioned currency backed by precious...

Monday, November 25, 2024, 07:30:29 AM