Goat Vein yields more high-grade gold

Grande Portage Resources Ltd. Nov. 27 reported another high-grade gold intercept for this year's drilling at the Goat Vein on the company's Herbert Gold project in Southeast Alaska.

Hole 18M-12, drilled from the north side of the Goat Vein, intersected the main structure at a depth of roughly 230 meters. The main Goat Vein structure at this depth is 9.9 meters wide, including a 6.37-meter interval (4.97 meters true-width) just above the footwall that averaged 24.39 grams per metric ton gold.

In addition to the high-grade gold tapped in the main Goat structure, hole 18M-12 also cut strong gold mineralization in a satellite vein about 70 meters shallower.

A 4.5-meter intercept of this satellite structure cut multiple quartz veins with disseminated arsenopyrite, galena and sphalerite along with visible gold flakes. The shearing is not as pervasive as the main zone, leaving the quartz veining more solid. A 2.16-meter (1.73 meters true width) portion of this vein averaged 25.56 g/t gold.

The Goat vein is the northernmost of the three major drilled veins at Herbert, a property that hosts 1.1 million metric tons of indicated resource averaging 7.25 g/t (267,950 oz) gold; and 423,200 metric tons of inferred resource averaging 6.04 g/t (82,200 oz) gold, according to a resource calculation completed earlier this year.

"The more this property is drilled, the more we learn and will potentially continue to add to the mineral resource," said Grande Portage Resources CEO Ian Klassen. "It's worth noting that the company has never missed a drill intercept into this gold pervasive mesothermal vein system. We look forward to the results from the next eleven holes as we advance the Herbert Gold project."

–SHANE LASLEY