Northern Lights Received Permit to Drill at Secret Pass Gold Project in Arizona
Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR)(OTCQB:NLRCF) is pleased to announce that it has received approval from the US Bureau of Land Management (the “BLM”) to commence drilling at the Secret Pass Gold Project (“Secret Pass” or the “Project”) in Mohave County, Arizona
A total of 15 holes, for 2,300 metres, have been approved for drilling at 12 target prospects on the Secret Pass BLM mining claims. The BLM mining claims at Secret Pass have a total area of 656 hectares and account for the majority of the total license area, comprising of the northern section of the project license area as well as the FM zone in the southeast quadrant of the Project area (see Figure 1).
The permit to drill an additional 5 holes, for 1,150 metres, at the Tin Cup prospect on the State Exploration Permit area (212 hectares) is pending approval from the Arizona State Land Department (see Figure 1). The Company expects to receive the approval to drill the planned holes at Tin Cup in the coming weeks.
The targeted prospects have been identified by Northern Lights through a systematic exploration program over the past six months that has included an airborne magnetic survey, reinterpretation of historic Induced Polarization (IP) data, detailed mapping and the collection of over 400 stream and pan concentrate samples (final assays and interpretation pending).
CEO, Jason Bahnsen, commented “We are delighted to receive permits to commence drilling at the Secret Pass Gold Project. Preparation of drill access roads will begin immediately and our drilling contractor is planning to be on site by April 5th. Drilling will initially focus on the Fiery Squid and Tentacles prospects before where we see significant potential associated with numerous historic workings at each of the prospect sites.”
Planned Phase 1 – Drill Program Secret Pass Gold Project
The Phase 1 drill program will focus on two previously unexplored prospects at Fiery Squid and The Tentacles and the historic mine area at Tin Cup. (see Table 1)
Fiery Squid and The Tentacles Prospects
The initial drilling will focus on the Fiery Squid and The Tentacles prospects. Two holes are planned at the Fiery Squid prospect and one hole at the Tentacles prospect. Both prospects have extensive historic underground workings including timber-lined shafts and several adits. A historic grab sample from the dumps adjacent to the shaft at Fiery Squid assayed 6 g/t Au.
The Fiery Squid and Tentacles prospects are located within a zone of intense sericite-quartz-FeOx alteration which trends northwest and covers an area approximately of 1000 x 500 meters. The alteration is associated with a swarm of rhyolite dykes that have intruded older andesite volcanics.
The planned holes range in length from 100 to 150 metres and are designed as initial reconnaissance holes to test mineralization associated with the historic workings.
Tin Cup
Historic drilling at Tin Cup identified a mineralized zone with a strike length of approximately 245 metres and has been drill tested to a depth of only 180 metres. Based on historic drilling, high-grade mineralization is localized in 3.0 to 7.6 metres wide, steep westerly-dipping structures that occur within a much wider mineralized fault zone that ranges from 30 to 45 metres in width. Historic drill assays from Tin Cup ranged up to 7.6 to 40.4 grams per tonne gold over mineralized widths of 1.5 to 32 metres. See the Northern Lights press release of October 26, 2020, for further details). The mineralization has a northwest plunge and is open at depth.
The five holes at Tin Cup (1,150 metres) are planned to confirm high-grade mineralization from historic drilling to test the down plunge extension of the mineralization and to test the system to a depth of approximately 350 metres below the surface. Permits to commence drilling of the Tin Cup holes are pending approval of the Arizona State Land Department.
Table 1 – Secret Pass Phase 1 Drill Program
Under the permits granted by the BLM, Northern Lights has the flexibility to drill any of the 22 permitted holes and can maintain a progressive rehabilitation program with up to 350 metres of drill holes remaining open at any time during the permit period. The BLM permits are valid for 2 years and can be renewed for a subsequent 2 years with written approval.
Subject to the final assay results and interpretation of the approximately 400 stream sediment and pan concentrate samples that were collected by the Company in Q4 2020, Northern Lights may modify the planned Phase 1 drill plan to include additional prospects on the BLM mining claims.
Figure 1 -Secret Pass Project Drill Hole Locations
View Larger image Here
The scientific and technical data contained in this news release was reviewed and approved by Gary Artmont (Fellow Member AUSIMM #312718), Head of Geology and qualified person to Northern Lights Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights, in joint venture with Reyna Silver are earning 100% ownership.
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
- Published in News Home, Northern Lights Resources
Sirona Biochem Reports Excellent Results in New Clinical Study on TFC-1067
Sirona Biochem Corp. (TSXV: SBM) (FSE: ZSB) (US-OTC: SRBCF) (“Sirona“) is pleased to announce that the second clinical trial of the active ingredient, TFC-1067, has been completed with excellent results.
The trial, which concluded on January 22nd, 2021, was managed by Dermscan (a division of Eurofins), a global leader in cosmetic clinical trials. The study’s endpoint was to determine the compound’s ability to selectively reduce areas of hyperpigmentation and dark spots of the skin while not creating a “halo” around the spot, which is a known side effect of other treatments. Multiple parameters were measured including the added effects of the higher concentration of TFC-1067 and a boosted formulation.
Results of the trial included:
- A significant decrease in spot intensity
- A significant decrease in spot size
- A significant decrease in dark spots versus surrounding skin tone
Optimal results were obtained with the higher concentration and improved formulation:
- 100% of participants agreed their complexion was illuminated
- 100% of participants agreed their complexion was brighter
- 100% of participants agreed their skin was more even in tone
- 100% of participants agreed the product blurred imperfections
- 100% of participants agreed the product prevented new dark spots from occurring
- 100% of participants agreed the spot size and mark was reduced
- 100% of participants agreed the intensity of dark spots was reduced
- 100% of participants would purchase the product
Due to contractual obligations, further disclosures will not be made at this time.
The Company also reports an increase in international interest in the project since the commercial launch of TFC-1067.
About Sirona Biochem Corp.
Sirona Biochem is a cosmetic ingredient and drug discovery company with a proprietary platform technology. Sirona specializes in stabilizing carbohydrate molecules with the goal of improving efficacy and safety. New compounds are patented for maximum revenue potential.
Sirona’s compounds are licensed to leading companies around the world in return for licensing fees, milestone fees and ongoing royalty payments. Sirona’s laboratory, TFChem, is located in France and is the recipient of multiple French national scientific awards and European Union and French government grants. For more information, please visit www.sironabiochem.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.
SOURCE Sirona Biochem Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2021/31/c5318.html
Contact:
Investor Enquiries: Jonathan Williams, Managing Director, Momentum PR, Canada, Phone: 1.450.332.6939, Email: jwilliams@momentumpr.com; Corporate Enquiries: Dr. Howard Verrico, CEO, Chairman of the Board, Sirona Biochem Corp., Phone: 1.604.641.4466, Email: info@sironabiochem.com
- Published in News Home, Sirona Biochem
Canada Silver Cobalt & Granada Gold Mine Joint Release on Re-2Ox and Recovery of Critical US Strategic Metals
Canada Silver Cobalt Works Inc. (TSXV: CCW) (OTC: CCWOF) (Frankfurt: 4T9B) (the “Company” or “Canada Silver Cobalt”) and Granada Gold Mines (TSXV: GGM) (OTC: GBBFF) are pleased to jointly announce that early analysis indicates the potential for the Re-2Ox (https://www.re-2ox.com/) process to be used for the extraction of rare earth and alkali metals which have recently been found at the Granada Gold Mine property. The Re-2Ox process was previously used in the production of a cobalt sulphate compound at SGS Canada for end use in lithium-ion batteries at Canada Silver Cobalt’s Castle property from a high-grade silver, cobalt and arsenic gravity concentrate (refer to CCW Press Release August 15, 2018).
Processing Highlights
- Processing of mineralized core involves using one of the conventional mineral processing steps: gravity concentration, magnetic concentration or flotation.
- Bench scale leach testing to be done on the Granada rare earth and alkali concentrate.
- Pilot plant leach testing to be done on the Granada rare earth and alkali concentrate.
The U.S. Department of the Interior published a final list of the 35 metals deemed critical to U.S. National Security and the Economy. To view the original U.S. government list, follow this link: https://www.usgs.gov/news/interior-releases-2018-s-final-list-35-minerals-deemed-critical-us-national-security-and. The following is a list of the 14 metals now known to be present in various concentrations at the Granada Gold Mine property’s new discovery on the Big Claim in the 588-meter GR-20-20 hole: arsenic, barite, cesium, cobalt, gallium, hafnium, magnesium, manganese, rubidium, scandium, strontium, tungsten, vanadium, and zirconium.
Both Companies will continue to work together on this initiative and will look at market demand fundamentals for the rare earth and alkali metal compounds prior to commencing bench scale testing.
CEO Frank J. Basa, P.Eng., commented that “We appear to have 40 percent of the metals deemed critical to the US national security – everything that is now coming into focus as being in short supply in the western world. These recent developments are extremely exciting given that the timing coincides with an awareness that many countries must play catch up quickly. Given the well-documented 2020 challenges in sourcing metals, this is resonating in a big way.”
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
About Canada Silver Cobalt Works Inc.
Canada Silver Cobalt Works released the first-ever resource in the Gowganda Camp and greater Cobalt Camp in May 2020. A total of 7.56 million ounces of silver in Inferred resources, comprising very high-grade silver (8,582 grams per tonne un-cut or 250.2 oz/ton) in 27,400 tonnes of material from two sections (1A and 1B) of the Robinson Zone beginning at a vertical depth of approximately 400 meters, was identified. The discovery remains open in all directions (1A and 1B are approximately 800 meters from the Capitol Mine workings) (mineral resources that are not mineral reserves do not have demonstrated economic viability) (refer to Canada Silver Cobalt Works Press Release May 28, 2020. Report reference: Rachidi, M. 2020, NI 43-101 Technical Report Mineral Resource Estimate for Castle East, Robinson Zone, Ontario, Canada, with an effective date of May 28, 2020 and a signature date of July 13, 2020.
Canada Silver Cobalt’s flagship Castle mine and 78 sq. km Castle Property feature strong exploration upside for silver, cobalt, nickel, gold, and copper in the prolific past-producing Gowganda high-grade Silver District of Northern Ontario. With underground access at Castle, a pilot plant to produce cobalt-rich gravity concentrates on site, a processing facility (TTL Laboratories) in the town of Cobalt, and a proprietary hydrometallurgical process known as Re-2Ox for the creation of technical-grade cobalt sulphate as well as nickel-manganese-cobalt (NMC) formulations, Canada Silver Cobalt is strategically positioned to become a Canadian leader in the silver-cobalt space.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Canada Silver Cobalt Works Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/30/c5516.html
Contact:
Frank J. Basa, P.Eng., Chief Executive Officer, 416-625-2342
- Published in Canada Cobalt Works, Granada Gold Mine, News Home
Canbud’s Subsidiary, Empathy Plant Co. Appoints Certified Plant-Based Expert as Official Spokesperson and Explores Plant-Based Drink Options
Canbud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“Canbud” or the “Corporation“) is pleased to announce its subsidiary, Empathy Plant Co. has signed certified plant-based nutritionist, Melissa Melnychuk as their official spokesperson.
Melissa is a Certified Holistic Health Coach (CHHC) and is also a Plant-Based Certified expert from Cornell University. Melissa started her practice in 2010 and has worked with women from all walks of life including entrepreneurs, traveling executives, stay-at-home moms, former fitness competitors, professional athletes and more. As a mother of 3 and former fitness athlete, Melissa understands how to balance a holistic and busy lifestyle. As an advocate for body positivity and the ‘diet culture dropout’ movement, she reflects the Empathy Plant Co. culture and messaging tone of inclusivity and change through thoughtful conversations.
Melissa Melnychuk
To view an enhanced version of this graphic, please visit:
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Melissa comments: “When I was approached to help support and build the Empathy Plant Co. brand I jumped at the opportunity.”
“Not only am I familiar with the entrepreneurial team behind the brand, but their character and vision are something I am completely aligned with.”
“Other current plant-based protein offerings are not speaking to the largest target market and the team has given me the opportunity to do so. The more people I can turn on to the plant-based lifestyle, the more people I can help and that fuels my soul.”
“With the Canbud and Empathy team by my side I’m stoked to help people live healthier and happy lives.”
As part of Empathy Plant Co.’s marketing strategy, Melissa will be responsible for speaking to and influencing the largest segment in the plant-based space, 18 to 24-year-old females who account for 48% of the market (PLANT-BASED FOOD & DRINK CANADA, MAY 2019).
Melissa will take an active role in promoting the benefits of incorporating plant-based into people’s dietary habits and help champion the movement. As Empathy Plant Co. pushes to commercialize, the credibility of her accomplishments will help build consumer confidence, trust, drive recurring sales and bring value to the end user.
Canbud VP of Marketing and CPG (Consumer Packaged Goods) expert, Adrian Burke comments: “I have known Melissa for over a decade and have watched her execute at a high level as a savvy business person. Her passion for helping others is something that stands out the most, along with her caring and nurturing qualities, she has given me all the confidence she’ll appeal greatly to the largest segment of plant-based consumers.”
Empathy will also be leveraging Melissa’s experience and insight in exploring plant-based drink options further enriching their innovation pipeline. With the production of their Complete Plant Protein well under way, Empathy Plant Co. is strongly positioned in the plant-based product segment which is anticipated to witness the fastest growth in the protein market over the forecasted period (2020-2027).
According to a new market research report titled, “Plant Based Protein Supplements Market by Type (Soy Protein, Rice Protein), Form (Powder, RTD), Application (Sport Nutrition, Additional Nutrition), and Distribution Channel (Hypermarket/Supermarket, E-Commerce, Pharmacies) – Global Forecast to 2027”, published by Meticulous Research®, the plant-based protein supplements market is expected to grow at a CAGR of 7.8% from 2020 to 2027 to reach $9.57 billion by 2027.
Follow all Empathy Plant Co. developments by entering your email at empathyplantco.com or following on Instagram.com/empathyplantco.
Consulting Options:
The Corporation has granted 600,000 incentive stock options to 2 consultants of the Corporation. The options have an exercise price of 22 cents and a term of four years expiring on March 30, 2025.
About Canbud Distribution Corporation
Canbud Distribution Corporation is a science and technology health and wellness company that encompasses plant based, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) verticals.
www.canbudcorp.com
https://www.instagram.com/canbudcorp/?hl=en
https://twitter.com/canbudcorp
https://www.linkedin.com/company/canbud-distribution-corp/?viewAsMember=true
https://www.instagram.com/empathyplantco/?hl=en
For further information, please contact:
ir@canbudcorp.com
or
Robert Tjandra, President and COO
Tel: 1 416 847 7312
- Published in Canbud Distribution, News Home
Granada Gold Discovers High Value Rare Earth and Alkali Metals
Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) is pleased to announce the significant discovery of Scandium (Sc), Rubidium (Rb), and Cesium (Cs) on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.
Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has been sampled in portions of the drill core. The mineralized portions of the core have been assayed for 56 metals. Additional assays are pending. Portions of drill holes GR-20-20 and GR-20-22 were sampled. Assays for GR-20-22 are still pending. Based on recent assays for intervals sampled, the intervening intervals are being sent for assay to create a complete picture.
Highlights of drill hole GR-20-20:
- – 13.5 ppm Cs, 101.8 ppm Rb, 21.0 ppm Sc over 12.0 meters from 351.0 meters to 363.0 meters- 3.5 ppm Cs, 69.1 ppm Rb, 13.8 ppm Sc over 98.0 meters from 451.0 meters to 549.0 meters- 1.1 ppm Cs, 42.1 ppm Rb, 12.2 ppm Sc over 15.0 meters from 573.0 meters to 588.0 meters
Core lengths represent approximately 40 percent true width.
The potential value of the rare earths and alkali metals per ppm in US dollars is as follows
- – Cesium (Cs) US Dollars 63 per ppm- Rubidium (Rb) US Dollars 16.08 per ppm
- – Scandium (Sc) US Dollars 186 per ppm- Gold (Au) US Dollars 56 per ppm- Silver (Ag) US Dollars 0.84 per ppm
Commodity price sources:
- – Institute of rare earths and strategic metals- USGS 2021 and 2020 reports- Alfa Aesar
The company is reassured by significant results coming from 2 independent laboratories where NQ core samples of hole GR-20-20 and GR-20-22 were analysed at ALS and NQ core samples of hole GR-20-22 were analysed at SGS.
The company will proceed with sampling of the entire hole to enable disclosure of mineralized lengths associated with grades as well as investigation on the mineralogy as the grades of interest are not confined to one geological unit.
Co-ordinates of these holes have been determined by handheld GPS and will be surveyed in spring.
GR-20-20: 645 968E, 5 339 544N, 292Z, Azimuth 183N, Dip -86 and length 588m
GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,600m
QA/QC
The insertion of blanks and standards by the technical team in the program were aimed at gold. However, the laboratory QA/QC results for these anomalous elements at both laboratories are in line with their expected values thereby allowing the public disclosure of the values.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. m ember of Québec Order of Engineers and a qualified person in accordance with National Instrument 43- 101 standards.
Cesium
Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells. Cesium-bromide is used in infrared detectors, optics, photoelectric cells, scintillation counters, and spectrophotometers. Cesium carbonate is used in the alkylation of organic compounds and in energy-conversion devices, such as fuel cells, magneto-hydrodynamic generators, and polymer solar cells. Cesium chloride is used in analytical chemistry applications as a reagent, in high-temperature solders, as an intermediate in cesium metal production, in isopycnic centrifugation, as a radioisotope in nuclear medicine, as an insect repellent in agricultural applications, and in specialty glasses. Cesium-hydroxide is used as an electrolyte in alkaline storage batteries. Cesium-iodide is used in fluoroscopy equipment—Fourier-transform infrared spectrometers—as the input phosphor of x-ray image intensifier tubes, and in scintillators. Cesium-nitrate is used as a colorant and oxidizer in the pyrotechnic industry, in petroleum cracking, in scintillation counters, and in x-ray phosphors. Cesium sulfates are soluble in water and are thought to be used primarily in water treatment, fuel cells, and to improve optical quality for scientific instruments.
Rubidium ( Alkali Metal)
Applications for rubidium and its compounds include biomedical research, electronics, specialty glass, and pyrotechnics. Specialty glasses are the leading market for rubidium; rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fiber optic telecommunications networks. Biomedical applications include rubidium salts used in antishock agents and the treatment of epilepsy and thyroid disorder; rubidium-82, a radioactive isotope used as a blood-flow tracer in positron emission tomographic imaging; and rubidium chloride, used as an antidepressant. Rubidium atoms are used in academic research, including the development of quantum-mechanics-based computing devices, a future application with potential for relatively high consumption of rubidium. Quantum computing research uses ultracold rubidium atoms in a variety of applications. Quantum computers, which have the ability to perform more complex computational tasks than traditional computers by calculating in two quantum states simultaneously, were expected to be in prototype phase by 2025. Rubidium’s photoemissive properties make it useful for electrical-signal generators in motion-sensor devices, nightvision devices, photoelectric cells (solar panels), and photomultiplier tubes. Rubidium is used as an atomic resonance-frequency-reference oscillator for telecommunications network synchronization, playing a vital role in global positioning systems. Rubidium-rich feldspars are used in ceramic applications for spark plugs and electrical insulators because of their high dielectric constant. Rubidium hydroxide is used in fireworks to oxidize mixtures of other elements and produce violet hues. (source USGS)
Scandium (Rare Earth)
Is a strategic mineral in the province of Quebec as declared in the Critical & Strategic Mineral policy of the government of Québec to support the green development plan.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property, but is not necessarily indicative of mineralization hosted on the company’s property.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release. The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, géo. Both of SGS Canada Inc.
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
- 1. Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93%
- 2. Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell
- 3. Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes
The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com .
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
For further information, please contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or
Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Newlox Gold Starts Construction at Plant 2
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce that the Com pany has started construction at the fully permitted and fully funded Boston Project, its second environmentally and socially positive precious metals project .
Newlox has designed this mill with the capability of processing 150 tonnes per day of material, grading approximately 15 grams gold per tonne. At full scale, Boston is expected to be capable of recovering approximately 20,000 ounces of gold per year as well as a significant quantity of silver.
The construction timeline is projected at three months to be followed by commissioning, testing, and commercialization. Such an expedited construction and commissioning schedule at Plant 2 is the result of both the fully permitted status, and its proximity to the artisanal mining operations, in addition to Newlox Gold’s unique expansion strategy . The Boston operations team will provide advisory, engineering, and support to the local miners to ensure efficient gold and silver recovery using environmentally positive technology free of mercury.
Earthmoving and construction work is already underway at Project 2 and is progressing satisfactorily. Because of its location, adjacent to the Company’s first processing plant, this project benefits from significant shared infrastructure. Management looks forward to an expedited construction timeline and will regularly update shareholders.
Boston brings with it a wealth of historical exploration and mining data . Newlox’s operations team has worked closely with the Company’s local mining partners in both planning and development work in anticipation of the commencement of construction.
This partner mining approach creates a coexistence model for artis anal mining, seeking to uplift local miners by providing access to modern and efficient processing technologies. Partner mining will improve local economic conditions while, notably, removing the common legacy of mercury-based processing technologies, which result in negative human and environmental consequences.
Newlox previously announced securing a net revenue-sharing agreement with an established artisanal mining syndicate with which management has a multi-year association. Net revenues after all production costs will be split 50/50 between the miners and Newlox. The Company expects the Boston Project to significantly contribute to Newlox’s near-term growth. By targeting small-scale projects with low capital requirements and expedited development timelines, the Company plans to grow rapidly in Latin America to encompass multiple projects. Boston will be a model for the artisanal mining sector.
A Message from Ryan Jackson, President & CEO:
“Precious metals are an integral part of local heritage and traditions and continue to be mined today for both economic and cultural reasons. Now, for the first time since the ancient introduction of the mercury amalgamation process, artisanal gold and silver will be recovered without the use of mercury and its associated environmental damage. We are honoured to have been invited to partner with the local mining groups in the Juntas Gold Camp and are looking forward to strengthening our associations through this new cooperative venture.
Project 2, Boston, will significantly contribute to the local economy’s sustainable development while solving a decades-old environmental and social dilemma for all local stakeholders’ benefit. The project not only supplements production at Newlox’s first processing plant but also constitutes a decisive second step in Newlox’s plan to build a portfolio of environmentally positive gold projects throughout Central and South America.”
Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox Gold
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
- Published in Mining, Newlox Gold, News Home
Sun Summit Provides Exploration Update; Visible Gold Identified in Numerous Drill Holes
Sun Summit Minerals Inc. (TSXV: SMN) (OTC: SMREF) (“Sun Summit” or the “Company”) provides an update on the Company’s current exploration drill program at its 100% controlled Buck Property, north-central British Columbia. Since mobilization of crews, Sun Summit has completed 10 drill holes for over 4,000 metres focused on investigating zones of high-grade and bulk-tonnage style gold mineralization. Drilling will continue to test these targets as well as other targets going forward.
Highlights
- Five out of 10 drill holes intersected zones of visible gold mineralization in a new and highly-prospective area between the Horseshoe and Trench zones.
- Metallic screen fire assay analyses of visible gold-bearing samples from discovery hole BK20-012 demonstrates a local increase in gold grade compared to traditional fire assay methods.
- Regional exploration targets within the 33,000-hectare land package are being refined and prioritised.
Bob Willis, Sun Summit’s CEO, stated, “Our current drill program at Buck is on track to achieve all three goals we initially set for the team. These goals are targeting high-grade gold mineralization peripheral to our discovery hole, testing newly identified chargeability anomalies, and investigating the strike extent of near-surface breccia-hosted mineralization.”
“The fact that 50% of our drill holes so far have cut zones of visible gold mineralization attests to the significance of our discovery and the high-grade potential of the area between the Horseshoe and Trench zones. All holes have intersected mineralized zones similar to those that reported gold in earlier campaigns.”
“Buck contains a large-scale system created by multiple mineralizing events that have deposited gold in several environments. It will take more drilling to fully explore Buck’s multiple gold zones, but we are very pleased with what we are seeing as work progresses. Furthermore, based on results from our metallic screen study, we are now systematically and selectively using the metallic screen method to fully evaluate the gold grade of these significant zones. We look forward to presenting assays from this drill phase.”
Drill Program
Sun Summit has now completed 10 diamond drill holes in the Company’s fully-funded 2021 program, previously announced on February 9th, 2021. Drill holes to date have tested areas peripheral to the high-grade intersections of the discovery hole BK20-012 (e.g., 17 metres of 5.86 grams per tonne (g/t) gold including 3 metres of 23.05 g/t gold, and 7.5 metres of 10.19 g/t gold; see the Company’s news release dated January 5th, 2021), as well as areas along strike and down-dip from the near-surface breccia hosted mineralization intersected in numerous holes in 2020 (e.g., BK20-006; 46 meters of 1.12 g/t gold equivalent (AuEQ); see the Company’s news release dated January 5th, 2021). Samples from the first four holes are in the analytical lab and results will be released once they are received, modelled, and interpreted.
Visible gold has been identified in five of the 10 holes drilled to date. Gold is associated with discrete sphalerite + pyrite + quartz + carbonate veins and also in sulfide cemented breccias (Figure 1). Vein- and breccia-controlled mineralization is hosted in pervasively silica and sericite altered volcaniclastic rocks and locally porphyritic dacitic intrusions. The presence of sub-millimetre to millimetre-scale visible gold in numerous drill holes covering a distance of at least 300 metres east-west, demonstrates the high-grade gold potential of the structurally complex hydrothermal system at Buck. Additional drilling is focusing on investigating the true orientation and thickness of this newly interpreted high-grade gold mineralized corridor.
Figure 1. Photos of key mineralization textures and sulfide assemblages. A. quartz + pyrite + gold vein cutting altered volcanics (BK-21-021 at 326m), B. sphalerite + carbonate + gold vein cutting altered dacitic intrusion (BK21-023 at 132.5m), C. sphalerite + pyrite + gold bearing breccia cement (BK21-017 @ 137.5m), and D. parallel sphalerite bearing veins cutting pervasively altered volcanics (BK21-021 at 147.5m). Abbreviations, py = pyrite, sph = sphalerite, cpy = chalcopyrite and carb = carbonate.
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Metallic Screen Fire Assay
Results from the selective metallic screen study have been received. Sample C355022 reported an increase in grade from 49.6 g/t gold (Au) by traditional 30 gram fire assay (ALS Au-AA23 method) to 141 g/t Au by the metallic screen method (ALS Au-SCR21). The results suggest that metallic screen methods should be performed on drill core samples containing visible gold. These methods utilize a larger sample and a tailored preparation procedure to systematically capture native gold, thus providing a more robust estimate of gold grade. A summary of metallic screen results from all samples with logged visible gold is shown in Table 1. Sun Summit is using these data to modify its analytical workflow for all samples with logged visible gold or samples that return >5 g/t Au by traditional fire assay.
Table 1. Metallic screen fire assay data from BK20-012 intervals with visible gold
Fire Assay | Metallic Screen | ||||
Au-SCR21 | Au-SCR21 | Au-SCR21 | |||
Length | Au-AA23 | Au Total (+)(-) Combined | Au (+) Fraction | Au (-) Fraction | |
Sample | (m) | (g/t) | (g/t) | (g/t) | (g/t) |
C318455 | 1.5 | 31.4 | 26.3 | 79.5 | 22.7 |
C318456 | 1.5 | 14.7 | 14.7 | 29.7 | 13.7 |
C318466 | 1.5 | 19.1 | 14.4 | 147 | 4.20 |
C355022 | 1.5 | 49.6 | 141.0 | 1160 | 71.2 |
C355042 | 1.0 | 6.96 | 7.41 | 5.24 | 7.66 |
Quality Assurance and Quality Control
Coarse reject material from drill hole BK20-012 was dispatched from the Yellowknife, NT-based ALS Global preparation facility to the ALS Global analytical laboratories in North Vancouver, BC, for metallic screen fire assay. There, a one kilogram sample was passed through a 100 micron screen (Tyler 150 mesh). Any +100 micron material was retained and analysed completely by fire assay with a gravimetric finish (+ fraction result in Table 1). The -100 micron fraction was homogenized, and two sub-samples are analyzed by fire assay with AAS (atomic absorption spectroscopy) finish (Au-AA25 and Au-AA25D). The average of the two AAS results is reported as the Au (-) fraction in Table 1. All three values are then used to calculate the combined gold content of the (+) and (-) fractions (Au total in Table 1).
Property-scale Exploration
Sun Summit is planning a significant regional exploration program to rigorously investigate existing gold-silver targets and to define new targets across the 33,000-hectare land position. Central to this land package is an approximately 24 kilometre long, northwest-trending, fault-bound belt of Late Cretaceous Kasalka Group volcanic and volcaniclastic rocks, host to epithermal-related mineralization at Buck. Kasalka Group volcanic rocks also host bulk-tonnage epithermal-related mineralization at the Blackwater and Capoose Au-Ag development projects of Artemis Gold Inc. (Angen et al., 2018).
The Company is currently compiling all regional (e.g., geology, stream sediment and till geochemistry) and project-scale historic data (e.g., ground, and airborne geophysics, soil and rock geochemistry) to better define areas of interest in these prospective, yet under-explored rocks. Exploration plans for this summer will be released once budgets are set and targets are ranked and prioritized.
Community Engagement
Sun Summit is working to engage with First Nations whose territory includes the Buck Property, to discuss their interests and identify contract and work opportunities, as well as opportunities to support community initiatives. We look forward to continuing to work with local and regional First Nations as the project continues.
Buck Property
The recently expanded 33,000-hectare property, approximately 12 kilometres south of Houston, British Columbia, has excellent nearby infrastructure and allows for year-round road-accessible exploration.
National Instrument 43-101 Disclosure
This news release has been approved by Sun Summit’s CEO, Robert D. Willis, P. Eng. a “Qualified Person” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators. He has also verified the data disclosed, including sampling, analytical and test data, underlying the technical information in this news release.
Health and Safety
The Company’s exploration programs are being carried out in full compliance with federal, provincial, and municipal guidelines established in response to the global COVID-19 pandemic. Sun Summit has a rigorous infection prevention and control protocol in place to protect the health of employees and contractors, as well as surrounding communities in which the Company works.
About Sun Summit
Sun Summit Minerals Corp. (formerly San Marco Resources Inc.) is a Canadian mineral exploration company actively pursuing world class gold and silver projects with a focus in mining friendly jurisdictions.
The Company’s principal focus is the Buck Property in north-central British Columbia that has bulk-tonnage gold and silver potential. The property is located in a mining-friendly region that includes many formerly operating mines and current exploration projects.
Sun Summit is committed to environmental and social responsibility with a focus on responsible development to generate positive outcomes for all stakeholders.
Further details are available at www.sunsummitminerals.com
References
Angen, J.J., Hart, C.J.R., Kim, R.S., and Rahimi, M. (2018): Geology and Mineral Potential of the TREK Area, Northern Interior Plateau, Central British Columbia, Parts of 1:250,000 NTS Sheets 093B, C, F and G; Geoscience BC Report 2018-12, MDRU Publication 411.175 p.
Additional Figure
Buck Drill Hole Locations
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- Published in Mining, News Home, San Marco Resources
Newlox Gold Achieves Best Productivity to Date
Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (C NSX : LUX . CN ) ( Frankfurt/Stuttgart: NGO ) (OTC : NWLXF ) is pleased to announce that the Company has achieved its highest level of productivity to date at its first environmental remediation and precious metals project.
Newlox Gold raised $4 million through a private placement financing , putting the Company in a sound financial position at the beginning of the New Year. The initial application of a portion of such funds has been to commercialize its first environmental remediation facility – Project 1.
The Company previously reported precious metal recovery and sales revenue in its financial statements; however, those figures were derived from metals produced during the development and testing stages. In early 2021 Newlox Gold transitioned to commercial operation, with productivity increasing according to plan. This plant is projected to process 80 tonnes per day of tailings feedstock at full-scale operation to yield approximately 6,500 ounces of gold per year.
Management plans to commission Plant 2 in the second quarter of 2021 to attain full-scale operations by year-end. Plant 2 at full scale will process 150 tonnes per day of feedstock to yield 20, 000 ounces of gold per year. Development work is advancing according to plan, and management will provide further details on construction shortly .
The Newlox team will continue to inform shareholders and interested parties of overall corporate and business matters, including expansion plans. Newlox Gold will be reporting earnings as part of its quarterly statements as steady-state operations are achieved. Management looks forward to delivering a robust growth curve, starting with the current commercialization of Project 1, and continuing through and beyond the commissioning and ramp-up of operations at Project 2.
A Message from Ryan Jackson, President & CEO:
“We are delighted to report that Newlox Gold’s first environmental remediation and precious metals recovery plant has attained its highest level of productivity to-date. We wish to acknowledge the diligent efforts of our operations team in bringing the Company to this milestone.
While current market conditions show some weakness, we believe that Newlox benefits from a core group of highly supportive shareholders who have great conviction over the long term. Although the gold price is down, it is significantly above the levels applied in our economic models and remains far above our requirements to grow the business.
We are at an early stage in advancing our growth strategy, and we are looking forward to delivering quarter-after-quarter of growth not only from Project 1, but also from the upcoming Project 2, and further from a robust pipeline of expansion opportunities currently in due diligence.”
Forward-Looking Information
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward-looking information. Forward-looking information includes, but is not limited to, the completion of the work programs currently underway and the results of these programs. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, achievements, or performance may vary materially from those anticipated and indicated by these forward-looking statements. The material risk factors that could cause actual results to differ include the risk that work undertaken by the Company may have unintended effects, the risk of delays in completing work, and the risk that the Company may not be able to raise sufficient funds and Force Majeure. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurances that the expectations of any forward-looking information will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accept responsibility for the adequacy or accuracy of this release).
Technical Disclaimer
The Company advises it is not basing any decision to produce on a feasibility study of reserves demonstrating the economic and technical viability of the project and also advises there is increased uncertainty and specific economic and technical risks of failure associated with any production decision. Stewart A. Jackson, Ph.D., P.Geo., a “Qualified Person” within the meaning of National Instrument 43-101, has prepared, supervised the preparation of, and approved the contents of this News Release.
On Behalf of the Board, Newlox Gold Ventures Corp.
Contact Newlox Gold
Ryan Jackson
Newlox Gold Ventures Corp., President
Website: www.newloxgold.com
Email: ryan@newloxgold.com
Phone: +1 778 738 0546
Register for Newlox’s Biweekly New Investor Conference Call
- Published in Mining, Newlox Gold, News Home
Granada Gold Discovers High Value Rare Earth and Alkali Metals
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce the significant discovery of Scandium (Sc), Rubidium (Rb), and Cesium (Cs) on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.
Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has been sampled in portions of the drill core. The mineralized portions of the core have been assayed for 56 metals. Additional assays are pending. Portions of drill holes GR-20-20 and GR-20-22 were sampled. Assays for GR-20-22 are still pending. Based on recent assays for intervals sampled, the intervening intervals are being sent for assay to create a complete picture.
Highlights of drill hole GR-20-20:
- 13.5 ppm Cs, 101.8 ppm Rb, 21.0 ppm Sc over 12.0 meters from 351.0 meters to 363.0 meters
- 3.5 ppm Cs, 69.1 ppm Rb, 13.8 ppm Sc over 98.0 meters from 451.0 meters to 549.0 meters
- 1.1 ppm Cs, 42.1 ppm Rb, 12.2 ppm Sc over 15.0 meters from 573.0 meters to 588.0 meters
Core lengths represent approximately 40 percent true width.
The potential value of the rare earths and alkali metals per ppm in US dollars is as follows
- Cesium (Cs) US Dollars 63 per ppm
- Rubidium (Rb) US Dollars 16.08 per ppm
- Scandium (Sc) US Dollars 186 per ppm
- Gold (Au) US Dollars 56 per ppm
- Silver (Ag) US Dollars 0.84 per ppm
Commodity price sources:
- Institute of rare earths and strategic metals
- USGS 2021 and 2020 reports
- Alfa Aesar
The company is reassured by significant results coming from 2 independent laboratories where NQ core samples of hole GR-20-20 and GR-20-22 were analysed at ALS and NQ core samples of hole GR-20-22 were analysed at SGS.
The company will proceed with sampling of the entire hole to enable disclosure of mineralized lengths associated with grades as well as investigation on the mineralogy as the grades of interest are not confined to one geological unit.
Co-ordinates of these holes have been determined by handheld GPS and will be surveyed in spring.
GR-20-20: 645 968E, 5 339 544N, 292Z, Azimuth 183N, Dip -86 and length 588m
GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,600m
QA/QC
The insertion of blanks and standards by the technical team in the program were aimed at gold. However, the laboratory QA/QC results for these anomalous elements at both laboratories are in line with their expected values thereby allowing the public disclosure of the values.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a qualified person in accordance with National Instrument 43-101 standards.
Cesium
Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells. Cesium-bromide is used in infrared detectors, optics, photoelectric cells, scintillation counters, and spectrophotometers. Cesium carbonate is used in the alkylation of organic compounds and in energy-conversion devices, such as fuel cells, magneto-hydrodynamic generators, and polymer solar cells. Cesium chloride is used in analytical chemistry applications as a reagent, in high-temperature solders, as an intermediate in cesium metal production, in isopycnic centrifugation, as a radioisotope in nuclear medicine, as an insect repellent in agricultural applications, and in specialty glasses. Cesium-hydroxide is used as an electrolyte in alkaline storage batteries. Cesium-iodide is used in fluoroscopy equipment—Fourier-transform infrared spectrometers—as the input phosphor of x-ray image intensifier tubes, and in scintillators. Cesium-nitrate is used as a colorant and oxidizer in the pyrotechnic industry, in petroleum cracking, in scintillation counters, and in x-ray phosphors. Cesium sulfates are soluble in water and are thought to be used primarily in water treatment, fuel cells, and to improve optical quality for scientific instruments.
Rubidium (Alkali Metal)
Applications for rubidium and its compounds include biomedical research, electronics, specialty glass, and pyrotechnics. Specialty glasses are the leading market for rubidium; rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fiber optic telecommunications networks. Biomedical applications include rubidium salts used in antishock agents and the treatment of epilepsy and thyroid disorder; rubidium-82, a radioactive isotope used as a blood-flow tracer in positron emission tomographic imaging; and rubidium chloride, used as an antidepressant. Rubidium atoms are used in academic research, including the development of quantum-mechanics-based computing devices, a future application with potential for relatively high consumption of rubidium. Quantum computing research uses ultracold rubidium atoms in a variety of applications. Quantum computers, which have the ability to perform more complex computational tasks than traditional computers by calculating in two quantum states simultaneously, were expected to be in prototype phase by 2025. Rubidium’s photoemissive properties make it useful for electrical-signal generators in motion-sensor devices, nightvision devices, photoelectric cells (solar panels), and photomultiplier tubes. Rubidium is used as an atomic resonance-frequency-reference oscillator for telecommunications network synchronization, playing a vital role in global positioning systems. Rubidium-rich feldspars are used in ceramic applications for spark plugs and electrical insulators because of their high dielectric constant. Rubidium hydroxide is used in fireworks to oxidize mixtures of other elements and produce violet hues. (source USGS)
Scandium (Rare Earth)
Is a strategic mineral in the province of Quebec as declared in the Critical & Strategic Mineral policy of the government of Québec to support the green development plan.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property, but is not necessarily indicative of mineralization hosted on the company’s property.
The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 3.5 to 5 grams per tonne gold.
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release. The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, géo. Both of SGS Canada Inc.
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
Type | Category | Tonnes | Au (g/t) | Gold Ounces |
In Pit | Measured1 | 3,756,000 | 1.89 | 228,000 |
Indicated | 1,357,000 | 2.55 | 111,000 | |
Measured+Indicated | 5,113,000 | 2.06 | 339,000 | |
Inferred | 34,000 | 11.29 | 12,000 | |
Underground | Measured | 37,000 | 4.22 | 5,000 |
Indicated | 807,000 | 4.02 | 104,000 | |
Measured+Indicated | 844,000 | 4.03 | 109,000 | |
Inferred | 1,244,000 | 6.33 | 253,000 |
1. | Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93% |
2. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
3. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
The Company is in possession of all mining permits required to commence the initial mining phase, known as the “Rolling Start”, which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Granada Gold Mine Inc.
View original content: http://www.newswire.ca/en/releases/archive/March2021/23/c9230.html
Contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home