Grande Portage: Updated Resource Estimate Improves Indicated Gold By 97%
Grande Portage Resources (TSXV: GPG) this morning released an updated mineral resource estimate for its wholly owned Herbert Gold Project, located in southeastern Alaska. The updated resource saw outstanding results, with the company indicating that its indicated gold has increased by 97% while inferred gold has improved by 29%.
The updated resource estimate was reportedly based on a cut-off grade of 3 grams per tonne gold, with the numbers shaking out as follows:
- 1,196,800 ounces of indicated gold at an average grade of 10.23 g/t gold within 3,637,000 tonnes
- 325,900 ounces of inferred gold at an average grade of 8.91 g/t gold within 1,138,000 tonnes
- 686,700 ounces of indicated silver at an average grade of 5.87 g/t silver in 3,637,000 tonnes
- 169,300 ounces of inferred silver at an average grade of 4.63 g/t silver in 1,139,000 tonnes
Furthermore, the gold and silver resources at the Herbert Gold project remain open both at depth and along strike. The resource estimate is based off a total of 175 drill holes and 7 channel cuts.
Going forward, the company has indicated that it will continue to work to significantly expand the resource following additional drill testing. Additional veins are being developed to further enhance the resource at the property.
“We are extremely pleased to present the revised independent resource estimate for the Herbert Gold Property, the result of a very diligent effort on the part of the Company’s exploration team. The 2020 drilling plan was designed to maximize expansion which encountered significant development of gold in the Goat Hanging Wall, Goat Main Vein, Ridge Vein Hanging Wall, Main Vein North Strand and Deep Trench Vein. The Sleeping Giant is a new gold discovery in 2020 and has contributed high grade ounces to the resource. Further development is planned for the upcoming 2021 drill season.”
Ian Klassen, CEO of Grande Portage
Grande Portage Resources last traded at $0.445 on the TSX Venture and remains halted.
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