Grande Portage gets special-use permit for New Amalga

Executive Summary

• Grande Portage Resources Ltd. received a fully executed special-use permit from the U.S. Forest Service on January 5, authorizing the installation of long-term environmental infrastructure at its New Amalga gold project in Alaska.
• The permit allows for the installation of meteorological monitoring, stream gauging, and communications infrastructure to support future permitting and mine design, marking the first instance of receiving permits for long-term infrastructure at the site.
• The project maintains a small-footprint underground mining concept with off-site processing, supported by a NI 43-101 mineral resource estimate of 1.44 million ounces of indicated gold and a preliminary economic assessment expected in Q1 2026.

Key Details

• Permit Details: Received a special-use permit from the U.S. Forest Service (USFS) on Jan. 5, authorizing key long-term infrastructure for environmental monitoring.
• Infrastructure Authorized:
  • Environmental data collection station at surface facilities for meteorological data (required for Alaska Department of Conservation air quality and APDES permits).
  • Additional meteorological monitoring equipment above potential future underground workings.
  • Stream gauging sensors to monitor river levels for mine water treatment design and fish habitat protection.
  • Satellite uplink communications and power infrastructure.
• Development Concept: Small-footprint underground mining with third-party off-site processing, eliminating the need for an on-site mill, tailings storage facility, or permanent waste rock storage.
• Mineral Resource Estimate (Effective July 17, 2024):
  • Indicated: 1,438,500 oz Au at 9.47 g/t Au (4,726,000 tonnes); 891,600 oz Ag at 5.86 g/t Ag.
  • Inferred: 515,700 oz Au at 8.85 g/t Au (1,813,000 tonnes); 390,600 oz Ag at 7.33 g/t Ag.
• Historic Drilling Highlights:
  • Deep Trench vein: 15.3 m at 37.1 g/t Au; 8.3 m at 58.6 g/t Au; 11.6 m at 28.3 g/t Au.
  • Goat vein: 2.1 m at 74.2 g/t Au; 6.3 m at 15.7 g/t Au.
  • Main vein: 3.1 m at 79.2 g/t Au; 2.1 m at 37.2 g/t Au; 3.1 m at 13.9 g/t Au.
  • Ridge vein: 1.5 m at 43.0 g/t Au; 1.5 m at 29.2 g/t Au.
  • Sleeping Giant vein: 2.1 m at 15.4 g/t Au; 3.2 m at 20.7 g/t Au.
• Surface Sampling: Goat vein outcrop channel samples assayed 129.02 g/t Au and 290 g/t Au with 224 g/t Ag.
• Project Status:
  • NI 43-101 Preliminary Economic Assessment (PEA) in progress, expected completion Q1 2026.
  • Letter of intent signed with Goldbelt Inc. for an ore export terminal at Cascade Point, 22 km from the project.
  • Metallurgical recoveries up to 98.2%.
  • Over six years of environmental baseline water sampling completed.

Notable Quotes

• "The receipt of this special-use permit is a key step towards gathering all the data necessary to design and permit a low-footprint mining operation, which is protective of the surrounding environment. This is an important milestone as it represents the project's first instance of receiving permits for installation of long-term infrastructure at the project site, intended to be utilized not only for preproduction studies but also for ongoing monitoring throughout construction and operation of a future mine facility." — Ian Klassen, President and CEO