Grande Portage talks lidar survey data at New Amalga

Executive Summary

• Grande Portage Resources Ltd. has received and validated aerial LiDAR survey data for its New Amalga gold project in Alaska, a critical step for advancing engineering design and environmental studies.
• The survey confirms planned infrastructure locations and supports the company's development strategy of a small-footprint underground mine with off-site processing, which aims to reduce capital costs and environmental impact.
• The release reiterates the updated NI 43-101 Mineral Resource Estimate (effective July 17, 2024) and highlights a Letter of Intent with Goldbelt Inc. for an ore export terminal, while noting a Preliminary Economic Assessment is expected in Q1 2026.

Key Details

• LiDAR Survey Details: Conducted by NV5 Geospatial (Anchorage-based), the survey covers the area of potential project infrastructure and access road corridors. It validates surface facility locations and complements previous scans of the resource veins.
• Strategic Benefits of LiDAR: The data enables precise engineering, minimizes earthworks/surface disturbance, identifies drainage/wetlands, maps geotechnical features, and aids exploration by identifying eroded vein outcrops.
• Mineral Resource Estimate (Effective July 17, 2024):
  • Indicated Gold: 1,438,500 oz at 9.47 g/t Au (4,726,000 tonnes).
  • Inferred Gold: 515,700 oz at 8.85 g/t Au (1,813,000 tonnes).
  • Indicated Silver: 891,600 oz at 5.86 g/t Ag (4,726,000 tonnes).
  • Inferred Silver: 390,600 oz at 7.33 g/t Ag (1,813,000 tonnes).
• Development Concept: Small-footprint underground mining with third-party off-site processing, eliminating the need for an on-site mill or tailings storage facility.
• Project Location & Infrastructure: 100% interest; located 25 km north of Juneau, Alaska, and 6 km from a paved all-season highway.
• Drilling History: 240 drill holes from 55 platforms totaling ~65,000 meters.
• Select High-Grade Assays:
  • Deep Trench vein: 15.3 m @ 37.1 g/t Au; 8.3 m @ 58.6 g/t Au; 11.6 m @ 28.3 g/t Au.
  • Goat vein: 2.1 m @ 74.2 g/t Au; 6.3 m @ 15.7 g/t Au.
  • Main vein: 3.1 m @ 79.2 g/t Au; 2.1 m @ 37.2 g/t Au; 3.1 m @ 13.9 g/t Au.
  • Ridge vein: 1.5 m @ 43.0 g/t Au; 1.5 m @ 29.2 g/t Au.
  • Sleeping Giant vein: 2.1 m @ 15.4 g/t Au; 3.2 m @ 20.7 g/t Au.
  • Goat vein Surface Channel Samples: 129.02 g/t Au and 290 g/t Au (with 224 g/t Ag).
• Partnerships: Letter of Intent (LOI) signed with Goldbelt Inc. for the development of an ore export terminal at Cascade Point, located 22 km from the project site.
• Future Milestones: NI 43-101 Preliminary Economic Assessment (PEA) in progress, expected completion Q1 2026.
• Metallurgy: Excellent recoveries up to 98.2% reported.
• Environmental: More than six years of environmental baseline water sampling completed.

Notable Quotes

• "Modern lidar scanning is an extremely valuable technology for the New Amalga gold project, enabling surface data to be collected with an extremely high degree of detail in a short period of time. This results in more precise early engineering work while focusing and expediting our fieldwork and environmental data collection efforts, key factors enabling the project to advance through the regulatory process and towards mine development." — Ian Klassen, President and CEO