Grande Portage Resources Reports Major Advancements at New Amalga Gold Project

Strategic Insights -

Grande Portage Resources Ltd., a publicly traded mineral exploration company, has announced two major advancements at its New Amalga Gold Project in Southeast Alaska. The project hosts a high-grade mineral resource of 1.4 million ounces of gold and 0.5 million ounces of gold in inferred resources, with the potential for expansion in multiple directions. The company has received indicative offtake terms from a leading global concentrate trading firm, confirming the marketability of the New Amalga ore with gold payability ranging from 72% to 87%. This positive market feedback has led to the initiation of a Preliminary Economic Assessment (PEA) by the company, which is expected to be completed in mid-to-late February 2026.

Key Takeaways:

  • The New Amalga Gold Project hosts a high-grade mineral resource of 1.4 million ounces of gold and 0.5 million ounces of gold in inferred resources.
  • Indicative offtake terms from a leading global concentrate trading firm confirm the marketability of the New Amalga ore with gold payability ranging from 72% to 87%.
  • The company has initiated a Preliminary Economic Assessment (PEA) to further define technical and economic details.
  • The PEA consultant team includes experts in environmental, permitting, social, and community impacts, geological setting and mineralization, resource estimates, capital and operating costs, mining methods, recovery, infrastructure, market studies, and economic analysis.
  • The PEA is expected to be completed in mid-to-late February 2026.
  • The company's updated NI #43-101 Mineral Resource Estimate (MRE) reported at a base case mineral resources cut-off grade of 2.5 g/t Au consists of:

+ An Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes).

+ An Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes).

  • The MRE was prepared by Dr. David R. Webb, Ph.D., P.Geol., P.Eng. (DRW Geological Consultants Ltd.) with an effective date of July 17, 2024.
  • The company's mining operations will be a small-footprint underground operation with third-party offsite processing, eliminating the need for an onsite mill or tailings storage facility.

Statistics:

  • The New Amalga Gold Project has a total indicated gold resource of 1.4 million ounces.
  • The project also has an inferred gold resource of 0.5 million ounces.
  • The indicative offtake terms from a leading global concentrate trading firm confirm gold payability ranging from 72% to 87%.
  • The PEA is expected to be completed in mid-to-late February 2026.
  • The company's updated NI #43-101 Mineral Resource Estimate (MRE) reported at a base case mineral resources cut-off grade of 2.5 g/t Au consists of:

+ An Indicated Resource of 4,726,000 tonnes with an average grade of 9.47 g/t Au.

+ An Inferred Resource of 1,813,000 tonnes with an average grade of 8.85 g/t Au.

Sources:

  • Grande Portage Resources Ltd., press release, October 20, 2025.
  • Grande Portage Resources Ltd. website, accessed October 20, 2025.