Grande Portage Resources Ltd. V.GPG

Well at least Eric thought results were good!

[tarsands]

@HRA-Coffin Great Start!

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from #gpg, 1 Oct 2020, 06:10


@HRA-Coffin $35 million EV for a company with an 850k high grade gold resource with as good logistics as you're going to get in Alaska. A resource that will grow based on today's news and drill reporting still to come. It's a buy here. $GPG

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from #gpg, 1 Oct 2020, 09:36

[Teakbois]

Sprott this morning mentioned GPG when he referred to a few companies that reported results this week in general....that is its hard to say if the results were needle moving as sentiment is so poor right now. Would need to see sentiment pick up to know. Kinda of odd.  

[flash338]

Just saw. Maybe we all should get together in e-mailing them about GPG. I'd like to hear Sprott's thoughts.

[Teakbois]

First of all about share price.....I just reviewed quite a few charts of pm companies big and small. A common thread is that most are down 25%+ over the last 60 days. Some of the more stupid commentary is the speculation that the bull market in gold/silver may be over!  Anyway....I looked over the drill results from this weeks PR. They are quite good! Why anyone would be let down or

[sage4050]

100% agree.  A little more uptrend in gold prices and off we go.

[Teakbois]

Forgot this stat........ Average the grade and average the width for these holes and the result is........ 5.34 g/t over 464 metres!

[flash338]

Teak, is all this because I thought the results were mediocre? If it is, my bad. There were some very nice hits. Narrow but nice. I roughly averaged the hits when I said that and I could have disregarded a few. I haven't tried to figure out where these holes got drilled in relation to the previous ones but I was wanting to see more at depth. They certainly had some hits well above resource

[Teakbois]

They are still in the process of discovering the mineable zones (width not depth) of the Grand Portage claim. I think they said to date they have only worked 35% of it. This seasons drill program  is similar to the last in that hole depth will be kept shallow. I would also like to see whats further beneath the surface. Hopefully next years drill program will include some deeper holes. 

[flash338]

Ya, the bar was set pretty high with last year. I'd be happy with 250-300k this year. I doubt this will be mined open pit though. Too much strip on the way down. Long hole more likely. Back to ounces, the high grade step out could do it's part in adding ounces. It might take a few holes inbetween to get counted though. If I remember right, it takes 50m meters apart for inferred. Narrow 6

[Teakbois]

Okay so in the discussion video Ian mentions the type of vein structure is condusive to deep holes. Yet there is an indication of ounces not that far beneath the surface. If they continue to find resources at a shallow depth, it might be reasonable to consider doing an open pit operation and deep mine as well. I know of other another situation where open pit mining was done providing capital, and

[flash338]

I'd look at economics and not just depth of resource. Fair warning Teak. Off the top of my head, I can't think of any miner running a small scale boot strap approach (20-30k) that actually went as planned. I'd run out of fingers and maybe a few toes counting up ones that didn't work out. Looked good on paper though. The higher gold price we have now may have made things easier.