Grande Portage Resources Files 2024 Drill Plan of Operation at the Herbert Gold Project in S.E. Alaska

Rhea-AI Summary

Grande Portage Resources Ltd. announces its 2024 Plan of Operation for continued mineral exploration at the Herbert Gold project near Juneau, Alaska. The proposed work schedule includes up to 10,000 meters diamond drilling, detailed mapping, and trench sampling to expand previous exploration. The Herbert Gold Property is host to abundant composite vein-fault structures containing ribbon structure quartz-sulfide veins and lies within the 100-mile-long Juneau gold belt. The company also clarified the number of broker warrants issued in a recent private placement.

Vancouver, British Columbia--(Newsfile Corp. - January 18, 2024) - Grande Portage Resources Ltd. (TSXV: GPG) (OTCQB: GPTRF) (FSE: GPB) ("Grande Portage" or "the Company") is pleased to announce that it has filed its 2024 Plan of Operation for continued mineral exploration at its Herbert Gold project near Juneau, Alaska.

Subject to regulatory approval, the proposed work schedule for 2024 consists of up to 10,000 meters diamond drilling with additional detailed mapping and trench sampling to expand previous exploration. The program will consist of one diamond drill rig utilizing up to eight pads to drill approximately 15 holes. These holes are planned to test the main mineralized structures of the Goat, Main, Sleeping Giant and Deep Trench veins.

The Herbert Gold Property is host to abundant composite vein-fault structures containing ribbon structure quartz-sulfide veins and lies prominently within the 100-mile-long Juneau gold belt, which has produced millions of ounces of gold through a total depth range of thousands of feet. Individual veins and vein systems can be traced for over 500 m on average along strike and from surface (130 m above mean sea level) to depths of 350 m below sea level.

The Herbert's major veins have not been drilled out and strongly mineralized gold-bearing structures extend into untested ground, especially to the east and at depth. Several other veins and structures have been discovered on the property which have good potential for economic gold deposition but to date have only received minimal exploration.

Warrant clarification

On December 8, 2023, the Company issued a news release announcing the closing of a non-brokered private placement which stated that the number of broker warrants issued was 167,470 the correct number of broker warrants issued was 167,400.

This news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years of experience and a Qualified Person as defined under NI #43-101.

About Grande Portage:

Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The Herbert Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over seven million ounces of gold. The Company's updated NI#43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 3.0 grams per tonne gold (g/t gold) and consists of: an indicated resource of 1,196,800 ounces of gold at an average grade of 10.23 g/t gold (3,637,000 tonnes); and an inferred resource of 325,900 ounces of gold at an average grade of 8.91 g/t gold (1,138,000 tonnes), as well as an Indicated resource of 686,700 ounces of silver at an average grade of 5.87 g/t silver (3,637,000 tonnes); and an inferred resource of 169,300 ounces of silver at an average grade of 4.63 g/t silver (1,138,000 tonnes).

ON BEHALF OF THE BOARD

"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: info@grandeportage.com
www.grandeportage.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194640

FAQ

What is Grande Portage Resources Ltd.'s Plan of Operation for 2024?

The company plans to conduct up to 10,000 meters diamond drilling, detailed mapping, and trench sampling to expand previous exploration at the Herbert Gold project near Juneau, Alaska.

Where is the Herbert Gold project located?

The Herbert Gold project is located near Juneau, Alaska.

What is the geological significance of the Herbert Gold Property?

The property is host to abundant composite vein-fault structures containing ribbon structure quartz-sulfide veins and lies within the 100-mile-long Juneau gold belt.

Who approved the recent news release?

The news release has been prepared and approved by Carl Hale, CPG, a geologist with more than 40 years of experience and a Qualified Person as defined under NI #43-101.

What was clarified in the recent news release?

The company clarified the number of broker warrants issued in a recent private placement, stating that the correct number of broker warrants issued was 167,400.