Grande Portage: Inferred Resource of 1.57 Million Tonnes Containing 245,145 oz of Gold at 4.86 g/t at Herbert Glacier

Grande Portage (TSXV:GPG) and Quaterra announce first independent resource estimate for the Herbert Glacier gold deposit located near Juneau, Alaska.

The resource estimate, which is based on drill results from two of four principal veins on the property, contains an inferred resource of 245,145 ounces of gold at an average grade of 4.86 g/t (0.142 ounces per ton) in 1.57 million tonnes. The resource was calculated using a 2 g/t gold cut-off grade. Assay composites used in the resource estimate were statistically capped at 40 g/t (1.167 ounces per ton) to insure that outliers are not over-influencing the estimation and to account for nugget effect. The resource remains open in multiple directions along these defined veins. In addition, several highly prospective structures spread over the property remain unexplored. (For details of the resource estimate see table below).

The inferred resource released today is the result of two years of drilling along the Main and Deep Trench veins and represents about 20% of the total mapped strike length of all the veins identified on the property. The resource estimate is based on results from 65 diamond core holes (9,386 meters of drilling) and 4 trenches (19.7 meters of trenching) targeting two of the vein structures. The deposit contains coarse visible gold in several drill-hole intervals with gold grades as high as 229 g/t (6.678 ounces per ton) in recent drilling (Drill hole 11I-4).

Grande Portage CEO Ian Klassen, said:

“A small portion of the Herbert Glacier vein system has produced a substantial resource which remains open in multiple directions and depth. This summer’s drilling program will provide an opportunity to expand the known resource and to discover additional mineralized zones.”

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