Grande Portage Resources Ltd. June 12 announced an updated NI 43-101-compliant mineral resource estimate for the company’s Herbert Gold project in Southeast Alaska.
Grande Portage Resources Ltd.
Located 16 miles (25 kilometers) north of Juneau, the Herbert Gold project is an exploration stage, high-grade, gold-mineralized mesothermal quartz vein system in the historic Juneau Gold Belt.
Consisting of several prospective targets that Grande Portage has been advancing for over a decade, the most extensively explored and more advanced are the Goat, Main, and Deep Trench, with several others that have been discovered but not as extensively worked.
According to the previous resource calculation in 2021, Herbert Gold hosted 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.
Now, the company has recalculated its deposits from the last few years of exploration at Herbert Gold.
“We are very pleased to present an updated independent mineral resource estimate for the Herbert Gold deposit, the result of continued dedication and hard work from the entire team,” said Grande Portage President and CEO Ian Klassen.
The updated NI 43-101 mineral resource estimate, prepared by DRW Geological Consultants Ltd., used a total of 240 drill holes and seven channel cuts to determine the newest estimate.
Herbert Gold is now estimated to host 4.72 million metric tons of indicated resource averaging 9.47 g/t gold (1.4 million oz) gold, and 5.86 g/t silver (891,600 oz) silver; plus 1.8 million metric tons of inferred resource averaging 8.85 g/t (515,700 oz) gold, and 7.33 g/t (390,600 oz) silver.
“The overall number of ounces and grade has increased since we announced our previous resource estimate in 2021,” added Klassen. “This estimate includes drilling from the past three drill seasons (2021-2023) and was designed to both maximize expansion while also adding greater model definition through in-fill drilling in the Goat Hanging Wall, Goat Main Vein, Ridge Vein Hanging Wall, Main Vein North Strand and Deep Trench Vein.”
Estimated at a cut-off grade of 2.5 grams per ton, the overall increase was roughly 20% for gold and nearly 30% silver.
“This resource estimate will provide the basis for a conceptual plan which is well underway and will be completed later this summer,” said Klassen. “Essentially, this document is intended to deliver a detailed outline of how the Herbert Gold deposit can be developed using a direct shipping ore approach thereby greatly limiting any footprint on site. This objective offers low environmental impact with no mill, no chemicals, no on-site tailings, making the project notably simpler to permit, build and operate. Among other details it will address; initial mine access design plans, complete resource modeling, refinement of proposed stope shapes, assess possible mine production schedules with completed surface infrastructure and economic modeling.”
Grande Portage emphasizes that Herbert’s major veins have yet to be drilled out, and strongly mineralized gold-bearing structures extend into untested ground, especially to the east and at depth.
With a new resource to guide its future at Herbert Gold, in January, the company said it plans to complete up to 10,000 meters of diamond drilling this year.
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