Issue link: http://resourceworld.uberflip.com/i/1174544
O C T O B E R / N O V E M B E R 2 0 1 9 www.resourceworld.com 51 • An indicated resource of 606,500 ounces of gold at an average grade of 10.03 g/t Au (1,880,500 tonnes); and • An inferred resource of 251,700 ounces of gold at an average grade of 14.15 g/t Au (553,429 tonnes) • Expansion drilling is planned for 2020. • Grande Portage (GPG) has earned a 100% interest in the Herbert Gold Property. • Herbert Gold is one of Alaska's most promising districts and has remained remarkably underexplored until now. potential by Freegold in late 2014. Drilling has been largely concentrated on the Hill 1835 area; however, it is only one of the potentially significant targets within the property area. Two km northwest of Hill 1835 is Hill 1710, which hosts a large copper and molybdenum geochemi- cal anomaly coincident with a 6-km long broad magnetic anomaly. The 2019 program, fully funded by South32, consisted of induced polarization surveys and geochemical surveys. Drilling commenced in mid-August and will con- sist of 2,000 metres that will be aimed at further expanding the mineralization at Hill 1835 and further testing of the Hill 1710 target area. At Golden Summit, Freegold Ventures is planning a late 2019 drilling program to test a revised interpretation for potential for higher-grade mineralization extending west from the old Cleary Hill Mine work- ings in a previously undrilled area. A Preliminary Economic Assessment (PEA) was completed in January 2016. The PEA envisioned a 24-year two-phase oxide and sulphide operation. The PEA requires both the oxide and the sulphide material to be developed in order to return an after-tax IRR (internal rate of return) of 19.6% and a NPV (net present value) of US $188 Million (5% discount rate) over a 24-year life-of-mine using a US $1,300/oz gold price. PolarX Limited [PXX-ASX], another Australian explorer, remains active on their Alaska Range copper-gold porphyry where several significant targets have been identified. PolarX subdivided its Alaska Range property into three projects – Stellar, Zackly Skarn and Caribou Dome and granted Lundin Mining [LUN-TSX; LUMI-Sweden] an exclusive option until December 31, 2019 to earn a 51% JV inter- est in the Stellar Project. The option would require Lundin to expend US $24 million over three years, and make staged cash pay- ments of US $20 million over three years. A 5,000-metre diamond drilling program com- prising 8‐10 deep holes at Saturn, one of several target areas, is currently in progress. Near Haines, the Constantine Metal ALASKA