Grande Portage Resources (TSXV: GPG) this morning released further results from its 2020 drill program conducted at its flagship Herbert Gold project, located near Juneau, Alaska. Just two drill holes saw data released this morning, including 3.11 metres of 18.28 g/t gold at the Goat vein, along with 1.78 metres of 4.146 g/t gold at the Elusive Vein, with metallic screened results not yet received for the holes.
While the results from the Goat Vein further confirmed mineralization in the region, the results from the Elusive Vein have proven to be more significant for the company, even if they may have a slightly lower grade. The significance of this hole is that it is the most southerly data to date from the Herbert project, with the hole being a 300 metre stepout from the Deep Trench Vein.
Drilling of the Elusive Vein was conducted following a 2018 LiDAR survey that was conducted on the property, which highlighted up to 16 new parallel structures on the property that were previously undiscovered. Surface exploration conducted in 2019 revealed that two surface outcrops were visible for the Elusive Vein, which was previously undiscovered due to thick brush.
With the discovery of significant gold values within this vein, it provides an opportunity for the company to expand the current resource estimate for the property, which sits at 606,500 ounces of indicated gold and 251,700 ounces of inferred gold. Mineralization is said to be slightly different in this vein, with a lack of quartz being present relative to other locations on the property. Future drilling of the vein as a result has been identified as being necessary, with the opportunity for the company to expand its current resource estimate.
“This LiDAR survey has been invaluable. Not only did it precisely confirm known veins within the system, but it identified up to 16 new parallel structures within our property boundaries. We are delighted that the first ever drillhole into one of these structures has returned gold values. We look forward to further expanding our drilling efforts up to 300 meters to the south of our previous efforts.”Ian Klassen, President of Grande Portage
Grande Portage Resources last traded at $0.41 on the TSX Venture.
FULL DISCLOSURE: Grande Portage Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Grande Portage Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.