In a news release, Vancouver-based mineral exploration company Grande Portage Resources Ltd. (GPG:TSX.V; GPTRF:OTCQB; GPB:FSE) announced that at the Herbert Gold Project in Alaska "its drill rig on the T Pad has encountered extremely encouraging veining in the area between the Goat and the Main Veins well beyond the eastern limits of previous drilling efforts."
The firm indicated that the two new intercepts located contained visible gold in quartz veins situated 120 meters east of any prior drilling activity in the footwall of the Goat vein and within the area about 150 meters south of the vein. Grande Portage noted that finding these two veins was completely unexpected and that both veins displayed visible gold in the core.
The company reported that the two drill holes, DDH 20T-6 and DDH 20T-7, intercepted quartz veins approximately 100 meters into the footwall of the Goat Vein. The firm commented that veins of this quality were previously unknown in this area since there has been almost no earlier drilling there at this depth.
The company advised that its geologists believe that the new intercepts demonstrate a very high probability of vein outcropping on the slope to the south of Goat vein. The firm stated that in 2017, a grab sample of the vein was taken which returned results of 19.5 g/t Au, 408 g/t Ag and 5.37% Pb. The company noted that the vein appears to strengthen with depth and therefore feels it represents an excellent future drilling target.
The firm stated that one additional drill hole has been added to this season's drill plan from the U Pad. This hole will target an area near the eastern limit of drilling on the Main vein where no previous drilling has occurred.
The company summarized that it has now drilled eight holes of which two are ongoing, and it has plans to drill up to 15 more. The firm noted that sample results are forthcoming, but pointed out that it is experiencing extremely lengthy turn-around times this season. The company highlighted that so far it has identified at least seven intervals containing visible gold with all of the holes encountering multiple veins.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Grande Portage Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
