The mineral resource estimate has a base case mineral resource reduced to 181 grams per tonne gold.
Grande Portage Resources Ltd. reported an updated NI 43 -101 Independent Mineral Resource Estimate for its Herbert gold deposit, located in Southeast Alaska.
The mineral resource estimate has a base case mineral resource reduced to 181 grams per tonne gold (gpt Au). The mineral resource is reported with a cut-off grade of 2.5 gpt and consists of:
- An indicated resource of 1,438,500 ounces of gold with an average grade of 9.47 gpt Au over 4,726,000 tonnes.
- An inferred resource of 515,700 ounces of gold with an average grade of 8.85 gpt Au over 1,813,000 tonnes.
- An Indicated Resource of 891,600 ounces of silver with an average grade of 5.86 gpt Ag in 4,726,000 tonnes.
- An Inferred Resource of 390,600 ounces of silver with an average grade of 7.33 gpt Ag in 1,813,000 tonnes.
Reflexes:
- 34 diamond drilling wells from 8 separate platforms totaling 15,611 m (~51,000 ft) are added to the database, now totaling 240 wells.
- Z and M platform drilling tested the western part of the deposit and reduced the spacing of high-grade mineralization in the Goat Hanging Wall, Goat and Sleeping Giant veins, increasing the confidence level.
- Drilling from platforms AB, P, Q and BB tested the eastern and deeper portions of the deposit and identified new high-grade mineralization at Gigante Dormido (15.42 gpt gold/2.1 m) and extended the Hanging Wall of the Goat, the Goat, the Sleeping Giant, Range, Main Hanging Wall and Main Veins to the east and in depth.
- The deepest mineralization to date was intersected on the property at -400 m AMSL in 21T-4 (20.9 gpt gold/0.9 m) in the main vein (outcrops at 185 m AMSL).
- Mineralization is open throughout veins and at uncorrelated intersections located in sparsely drilled areas north and south of the Deep Trench vein and north of the Goat hanging Wall vein.
Commenting on these results, Ian Klassen, President and CEO of Grande Portage, said they are very pleased to present an updated independent mineral resource estimate for the Herbert Gold deposit, the result of the continued dedication and hard work of the entire team. .
The number of ounces and grade have increased since we announced our previous resource estimate in 2021. This estimate includes drilling from the last 3 drilling seasons (2021-2023) and was designed to maximize expansion while adding a Greater model definition through infill drilling. in the hanging wall of the goat, the main vein of the goat, the hanging wall of the ridge vein, the main vein of the north strand and the deep trench vein.
Klassen indicated that this resource estimate will provide the basis for a Conceptual Plan that is underway and will be completed later this summer. Essentially, this document aims to provide a detailed summary of how the Herbert Gold deposit can be developed using a direct ore shipping approach, greatly limiting any footprint on the site.
“This goal offers a low environmental impact with no mill, no chemicals or tailings on site, making the project noticeably simpler to permit, build and operate, including initial mine access design plans, modeling complete resource planning, refinement of proposed stope shapes, evaluation of possible mining production schedules with complete surface infrastructure and economic modeling,” he said.
Silver occurrences are associated with gold values in the Herbert deposit, especially in areas of strong galena mineralization, with specific concentrations observed in the main vein, where it enters the metasediments to the west.
The updated NI 43-101 mineral resource estimate, prepared by DRW Geological Consultants Ltd., uses a total of 240 drill holes and 7 channel cuttings to estimate the mineral resource. A total of 5,810 samples were analyzed for gold and 3,755 samples for additional pioneer elements.
