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Grande Portage steady to Herbert mine

Mining Explorers 2021 - January 27, 2022

Southeast Alaska explorer Grande Portage Resources Ltd. is advancing its Herbert Gold project roughly 16 miles north of Juneau toward permitting and potential development.

Following a significant investment by Eric Sprott in mid-2020 that helped fund a 21-hole drill program, Grande Portage is confident that a mine of significant return could be built at Herbert Gold.

The 2020 program encountered gold in the Goat, Main, Deep Trench, and Elusive veins, plus Sleeping Giant, North Strand of Main, and other intermediate veins.

Grande Portage reported that the 2020 drilling extended Goat by more than 150 meters to the east, with hole 20T-11 cutting 3.11 meters averaging 18.29 grams per metric ton gold at a drill depth of 204 meters.

The same hole encountered Main, which lies about 225 meters south of Goat, at a depth of 515.7 meters, 20T-11 cut 2.83 meters averaging 5.39 g/t gold.

As a result of the 2020 success, Grande Portage reported that it had nearly doubled the amount of gold in the indicated resource category at Herbert Gold, while also adding ounces to the inferred resources at this high-grade gold project in Southeast Alaska.

According to the May 2021 calculation, Herbert Gold hosts 3.64 million metric tons of indicated resource averaging 10.23 grams per metric ton (1.2 million ounces) gold and 5.87 g/t (686,700 oz) silver; plus 1.14 million metric tons of inferred resource averaging 8.91 g/t (325,900 oz) gold and 4.63 g/t (169,300 oz) silver.

This increased the indicated category by 97%, while the lower confidence inferred category increased by 29%.

Furthermore, this marked the first resource that calculated silver at Herbert Gold.

Silver values at Herbert are especially high in areas with strong galena mineralization, with specific concentrations noted in the Main vein, where hole DDH11I-4 cut 3.04 meters averaging 1,328 g/t silver and 3.42 g/t gold.

In total, the gold and silver resources at Herbert are found in nine different veins that run across the property. Goat vein, which hosts 841,000 metric tons of the indicated resource averaging 17.1 g/t (462,300 oz) gold and 11.11 g/t (300,200 oz) of silver, is the largest and highest grade of the veins outlined so far.

Focused on expanding and upgrading this resource, the 2021 exploration program at Herbert Gold included 8,150 meters of drilling in 19 step out and infill holes at this high-grade gold project.

"Our geological team has done another fabulous job identifying extensions to the vein system evidenced by the fact we continue to intercept gold bearing veins laterally and at depths not previously encountered," said Grande Portage Resources President Ian Klassen.

With the resource growing to a size to support a commercial mine, Grande Portage has engaged Admiralty Environmental, Core Geoscience, and Jade North to assist and oversee the collection of baseline data that a developer would need for a future Herbert Gold mine.

Furthermore, the company is consulting with state and federal regulatory agencies to confirm compliance with all regulations.


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