Issue link: http://resourceworld.uberflip.com/i/1037672
24 www.resourceworld.com O C T O B E R / N O V E M B E R 2 0 1 8 GRANDE PORTAGE RESOURCES LTD. [GPG-TSXV; GPTRF-OTC] has set its sights on finding more high-grade gold on its wholly-owned Herbert gold prop- erty located about 25 km north of Juneau, Alaska. What is exciting about this project is the fact that it is prominently situated within the 160 km-long Juneau Gold Belt. This gold belt has historically produced nearly 7 million ounces of gold from over 200 gold quartz-vein deposits since 1880. More than three-quarters of Alaska's his - toric lode gold production was mined from the Juneau Gold Belt. The belt is defined by a major crustal structure known as the Coastal Range Megalineament which is responsible for channeling and concentrating gold-bear - ing fluids in the district. The company believes its project is in the right geological location and remains very under explored. So far, the Herbert Project has seen more than 17,000 metres of drilling that have defined three major vein systems dubbed; Goat, Main, and Deep Trench. These veins can be traced for more than 300 metres along strike and have been tested to depths of 200 metres. In fact, the vein systems currently out - lined already have a NI 43-101 compliant resource on them. Together, these veins host an indicated resource with 257,954 oz gold averaging 7.25 g/t gold (contained in 1.1 million tonnes of rock). Another 82,206 ounces of gold averages 6.04 g/t (contained in 423,177 tonnes of rock) and is classified as an inferred resource. Gold deposits along the Coastal Range Megalineament have been classified as mesothermal or "deep rooted" and have been shown to extend to depths greater than 1 km and are typically hosted within intrusions and in nearby metasedimentary rocks. The gold mineralization at Herbert is hosted in six main vein-fault structures that contain quartz-sulphide veins which remain open for expansion along strike as well as to depth. The vein host rock is an intrusive quartz-diorite that is sandwiched between metasediments and deformed gneisses. Vein thicknesses range from several metres to decimeters and, within the host structures, several generations of veining can be observed. In an effort to expand this gold miner - alization, the company raised $5.5 million in June this year and commenced an 18 to 20-hole drilling campaign in July that was designed to test up to four separate major veins and their satellite structures. Assays are still pending. If successful, the drill program could expand the gold- bearing Goat and Deep Trench vein systems. The mesothermal vein system that hosts the current Herbert resource has yet to be fully tested along strike and down dip. The market is expecting a new batch of drill results soon and I believe that these holes could potentially add more high-grade ounces. The company cur- rently has a market capitalization of $6.2 million with only 32.4 million shares out- standing. n Payton Nyquvest is an Investment Advisor with Mackie Research Capital Corporation (MRCC). This article was prepared, in part, under contract by Thomas Schuster. The opinions, estimates and projections herein are those of the author and may not reflect that of MRCC. The information and opinions con - tained herein have been compiled and derived from sources believed to be reliable, but no rep- resentation or warranty, expressed or implied, is made as to their accuracy or completeness. The issuer(s) mentioned in this article may not be suitable for all investors. Please consult an investment professional for advice regard - ing your particular circumstance. Neither the author nor MRCC accepts liability whatsoever for any loss arising from any use of this article or its contents. Information may be available to MRCC which is not reflected herein. This article is not to be construed as an offer to sell or a solicitation for an offer to buy any securi - ties. The information contained in this article is not intended to constitute a research report. Payton Nyquvest is a beneficial owner of the companies highlighted in this article. Broker's Picks by Payton Nyquvest Grande Portage Resources targets Alaskan mesothermal gold This gold belt has historically produced nearly 7 million ounces of gold from over 200 gold quartz-vein deposits since 1880. More than three- quarters of Alaska's historic lode gold production was mined from the Juneau Gold Belt.