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Grande Portage Resources
Investment Insight
With an established mineral resource and further significant exploration upside, the New Amalga gold project presents substantial opportunities for Grande Portage to advance the project, generate cash flow, and create shareholder value. The company’s ongoing exploration efforts and strategic partnerships enhance the potential for long-term growth and value appreciation.
Overview
Grande Portage Resources (TSXV:GPG,OTCQB:GPTRF,FSE:GPB) is a junior resource company focused on the exploration and development of its high-grade gold asset in southeast Alaska. The company’s flagship project, the New Amalga Gold project (formerly known as the Herbert Gold project), is located approximately 25 kilometers north of Juneau, within the prolific Juneau Gold Belt.
This historic 160-kilometer-long belt has yielded nearly eight million ounces of gold to date, and New Amalga represents one of the most prospective undeveloped gold systems in the region. The rebranding from Herbert Gold to New Amalga Gold reflects the company’s commitment to advancing and expanding its exploration and development efforts in this promising district.
Over the years, Grand Portage has significantly expanded its resource base through extensive exploration and drilling campaigns. The current mineral resource estimate, published in June 2024, outlines an indicated resource of 1.44 million ounces of gold at an average grade of 9.47 grams per ton (g/t) gold, and an inferred resource of 515,700 ounces at an average grade of 8.85 g/t gold. Additionally, the project hosts significant silver mineralization, with indicated resources of 891,600 ounces at 5.86 g/t silver and inferred resources of 390,600 ounces at 7.33 g/t silver. The deposit has demonstrated exceptional metallurgical recoveries of up to 98.2 percent, reinforcing its economic viability.
Grande Portage is led by an experienced management team with a strong background in exploration and project development. The team’s focus is on creating shareholder value through the advancement of the Herbert Gold Project while maintaining a commitment to environmental and community responsibilities.
Company Highlights
- Grande Portage Resources is a junior resource company advancing its high-grade New Amalga Gold project, located in a prolific gold belt in SE Alaska.
- Strong management team led by Ian Klassen who has 30 years’ experience in business management, public relations and government affairs, and Kyle Mehalek, former chief mining engineer at Hecla Mining’s Greens Creek Mine.
- The flagship New Amalga Gold project, located near Juneau, Alaska, boasts a measured and indicated resource of 1.44 million ounces at 9.47 g/t gold, and inferred resource of 515,700 ounces at 8.85 g/t gold.
Key Project
New Amalga Gold Project
The New Amalga Gold project (formerly, Herbert Gold project) is a high-grade mesothermal quartz vein system containing six or more known parallel gold-bearing vein structures. The project consists of 91 unpatented lode claims covering approximately 2,000 acres.
Grande Portage has completed extensive drilling campaigns, with more than 54,000 meters of diamond drilling across 240 drill holes from 55 platforms, confirming a large, structurally complex gold-quartz system. The deposit remains open at depth and along strike, highlighting strong potential for further resource expansion. Historical production in the broader district, including previous operations at the historic Amalga Mine, has demonstrated the potential for high-grade ore shoots. Modern exploration drilling has intersected robust mineralization in multiple vein structures, supporting the project's continued development.
Primary veins with geology
Grande Portage is committed to responsible mining practices that minimize environmental impact. The company prioritizes low-impact mining methods and is exploring off-site processing solutions to align with community concerns regarding environmental preservation in the Juneau area.
The company has filed its 2025 Plan of Operation, proposing up to 10,000 meters of diamond drilling, along with detailed geological mapping and trench sampling. These initiatives aim to expand the known mineralization, refine geological modeling, and identify new high-priority targets. To further optimize project economics, the company is advancing sensor-based ore sorting testwork to improve processing efficiency.
Additionally, a Letter of Intent has been signed with Goldbelt, Juneau’s Alaska Native Corporation, to explore strategic collaborations that could enhance the project’s development and operational sustainability.
Management Team
Ian Klassen – President and Director
Ian Klassen brings almost 30 years experience in business management, public relations, government affairs and entrepreneurship to the company. He has extensive experience in the administration of public companies, government policy, media relations strategies, business/government project management, and legislative decision-making. Klassen is an (Honours) B.A. graduate from Western University and is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada, in recognition of his significant contribution to his community and country.
Kyle Mehalek – Lead Mine Planning Consultant
Kyle Mehalek is the lead consultant at OreLogic, providing underground mine planning and project development services. Mehalek is the former chief mining engineer of Hecla Mining Company’s (NYSE:HL) Greens Creek Mine. More recently he was the chief technical officer for Talon Metals, a TSX-listed company advancing the Tamarack nickel project in Minnesota.
Michele Pillon – Chief Financial Officer
Michele Pillon has 25 years of experience in the junior mining exploration sector, providing accounting and regulatory assistance to public companies. Since May 1988, she has worked as an accountant to public companies in the resource sector.
Carl Hale – Director of Exploration
Carl Hale received his Bachelor of Science degree in geology from the University of Washington in 1972. He has worked the majority of his career on mineral exploration projects in Alaska and the Pacific Northwest for various mining companies and consulting groups. He supervised massive sulfide exploration projects in the Brooks Range, Alaska, mineral reconnaissance programs in the Alaska Range and Southeast Alaska, and is presently the project manager on a gold exploration venture in the United States. Mr. Hale spent several years as a mine geologist at the Cannon Mine, a large gold mine in Wenatchee, Washington, as a geologist at the Sunshine silver mine in Idaho, managed a copper exploration project at Bornite, Alaska for three years for Kennecott and served as a geologist on a gold exploration project in Myanmar.
Alistair MacLennan – Director
Alistair MacLennan has been working in the junior resources sector (oil/gas/minerals), in various capacities, for over 30 years. He has gained industry knowledge through founding, investment in and serving on the boards of a number of public and private exploration companies. MacLennan is also the chairman and director of Helijet International, a helicopter airline operating a fleet of Sikorsky S76 helicopters throughout the Pacific Northwest since 1986. MacLennan is actively involved in a number of private companies which are involved in leasing, manufacturing and natural gas production.
Ronald Handford – Director
Ronald Handford is a professional engineer (non-practicing) and is president of Handford Management, a private management services company. He has been a senior executive of Sixty North Gold Mining since September 2016. He was formerly the executive vice-president, corporate development for Yellowhead Mining. Handford holds a Master of Business Administration degree from Western University (1979) and a Bachelor of Applied Science in Civil Engineering from the University of British Columbia (1974). He has over 20 years of international experience as a mining and technology entrepreneur, executive and advisor, plus 15 years as an international mining project finance and corporate banker, including Barclays Bank and the International Finance Corporation; and six years as an engineer/project manager related to mining and resource projects.
Douglas A. Perkins – Director
Douglas Perkins is a geology graduate from the University of British Columbia. Perkins has served on public company boards for over 25 years involving the promotion and representation of their geological properties. He has been involved in several start-ups of both public and private companies not only geological but including manufacturing, wholesale and developmental industries. From an exploration standpoint, Perkins has worked on the Gataga Trend for Cyprus Anvil, where several multi-million-ton deposits were discovered. He also worked for UTAH, UMEX, Cominco and oversaw Freeport/ Stryker's exploration project in northern BC near the Windy Craggy deposit. Perkins has tropical experience in the jungle of the Darien Gap in Panama during 1988 to 1989. For the last two years he has been senior vice-president and director of GMV Minerals in Guyana South America.
Gold Price Hits New Record, Breaking US$2,975 for First Time
Gold price chart, March 6 to 13, 2025.
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These releases come as trade tensions between the US and other countries ramp up.
Tempers flared when Ontario Premier Doug Ford imposed a 25 percent surcharge on electricity exports to the US on Tuesday (March 11). Although the charges were withdrawn after the two sides agreed to meet in Washington on Thursday, there is still much uncertainty about Canada-US relations, as well as US relations globally.
Broad 25 percent tariffs on all steel and aluminum imports to the US went into effect on Wednesday. Canada quickly applied retaliatory tariffs on US$20 billion worth of goods, while the EU responded with tariffs on US$28 billion worth of goods. Trump had threatened to boost the tariffs on Canadian steel and aluminum to 50 percent, but backed down for now after Ford withdrew the 25 percent electricity surcharge.
Trump has also said he will impose further tariffs on auto imports by April 2, creating significant uncertainty for manufacturers and businesses that rely on cross-border trade.
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Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
