GRANADA GOLD Announces Passing of Director Jacques Monette
Rouyn Noranda, Quebec, Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) announces with great sadness the passing of its long-time director Jacques Monette. Jacques has been an integral part of Granada Gold since 2008.
On behalf of the Board of Directors, management team and employees, we extend our deepest sympathies and condolences to Jacques’ family. Jacques was an experienced career miner working across Canada and around the world for over 40 years and has been on the boards of several exploration companies over the years. Jacques will be sorely missed by all those who knew him.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
On March 15, 2021, the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupere, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020, and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
Type | Category | Tonnes | Avg Grade Au (g/t) | Gold Ounces |
Open Pit | Measured | 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 |
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 half kilometers. Three of these structures were mined historically from two shafts and two 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 5 to 3.5 grams per tonne gold.
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
Granada Gold Assays 4.33 G/T Gold from 500-Tonne Surface Bulk Sample
Rouyn Noranda, Quebec, Granada Gold Mine Inc. (TSXV:GGM) (the “Company” or “Granada”) is pleased to provide a gold assay of 4.33 grams per tonne on its 500-tonne bulk sample taken from surface in 2020.
HIGHLIGHTS:
- A 500-tonne mineralized, and 900-tonne waste rock bulk sample were taken from surface in 2020
- A 10.5-tonne composite sample was screened from the 500-tonne mineralized bulk sample
- The 10.5-tonne composite sample was crushed, ground and screened at 20 mesh to ensure no visible gold was in the sample to be evaluated.
Frank J. Basa, P.Eng., President and CEO notes, “The bulk sample confirms both near-surface drill results and the potential for a higher-grade open pit mining scenario. Higher grades translate to lower processing costs per ounce and lower capital expenditures for a processing plant. The bulk sample has returned a higher gold grade than the current target open pit grade of 2 g/t.”
The 500-tonne bulk sample was taken 400 meters east of Pit #1 on the Vein 1 structure which trends 5.2 kilometers east-west. Historically Vein 1 was mined from underground in the thirties at 9-10 grams per tonne gold, and mined by open pit in 1993-94 at 5.17 grams per tonne gold having mined 87,000 tonnes and again in 1996 at 3.46 grams per tonne gold having mined 22,095 tonnes.
BULK SAMPLE ASSAY RESULTS
The screened, minus 20 mesh material was passed through the sampling tower at Temiskaming Testing Laboratory (TTL) in Cobalt, Ontario. Five super sacs were sampled by taking four samples from each super sac for assaying. Duplicate assays were run on one sample per super sac. The table below identifies the sample assay results. No visible gold was recovered when processing the minus 20 mesh portion of the bulk sample. Visible gold was present in the plus 20 mesh material. At this stage of evaluating the surface mineralization sample, the company is assessing the grade of the material without any high-grade visible gold. It has been estimated, based on metallurgical testing, that close to 50 percent of the gold at Granada is in native form (43-101 Technical Report Updated Mineral Resource Estimate, March 15, 2021).
Table 1. Bulk Sample Assay Results for minus 20 mesh fraction
Sample ID | Sample Source | Au by AA (g/t) |
OSLSR007-1 | Bag #006-1 | 5.176 |
OSLSR007-1DUP | 4.795 | |
OSLSR007-2 | 3.949 | |
OSLSR007-3 | 4.562 | |
OSLSR007-4 | 2.558 | |
OSLSR007-5 | Bag #006A-1 | 10.197 |
OSLSR007-5DUP | 9.052 | |
OSLSR007-6 | 13.003 | |
OSLSR007-7 | 9.693 | |
OSLSR007-8 | 3.621 | |
OSLSR007-9 | Bag #007-1 | 4.199 |
OSLSR007-10 | 2.858 | |
OSLSR007-11 | 3.249 | |
OSLSR007-12 | 2.294 | |
OSLSR007-13 | Bag #008-1 | 3.210 |
OSLSR007-13DUP | 3.063 | |
OSLSR007-14 | 2.850 | |
OSLSR007-15 | 2.661 | |
OSLSR007-16 | 3.397 | |
OSLSR007-17 | Bag #009-1 | 1.246 |
OSLSR007-18 | 1.352 | |
OSLSR007-19 | 1.341 | |
OSLSR007-20 | 1.237 |
BULK SAMPLE LOCATION
Click Image To View Full Size
Qualified person
The technical information in this news release has been reviewed by Frank J. Basa, P.Eng., m ember of Ontario Order of Engineers and a qualified person in accordance with National Instrument 43- 101 standards.
Quality Control and Reporting Protocols
The subsamples and duplicates were processed at TTL. The sample weights were 1 Kg. Each sample was split, and 500 grams were pulverized to -200 mesh, a 30-gram split was used in the fire assay process with AA finish. The process includes blanks and standards which are in line with the expected results which allow public disclosure of the results. Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes for this program in addition to the lab QA/QC.
Location
The Granada Gold project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
On March 15, 2021, the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupere, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020, and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
Type | Category | Tonnes | Avg Grade Au (g/t) | Gold Ounces |
Open Pit | Measured | 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 |
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 half kilometers. Three of these structures were mined historically from two shafts and two 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 5 to 3.5 grams per tonne gold.
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, News Home
Granada Gold Mine Closes $723,200 Private Placement
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (the “Company” or “Granada”) announces that the Company has closed a non-brokered private placement by way of issuing 12,053,333 units (“Units”) at a price of $0.06 per Unit raising gross proceeds of $723,200.
Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.08 per share, for a period of three years from closing, subject to TSX Venture Exchange (“Exchange”) approval.
GloRes Securities Inc., was paid $14,000 in cash and was issued 233,333 finder’s warrants (“Finder Warrants”). An additional $15,330 cash and 255,500 Finder Warrants were also paid. The Finder Warrants are on the same terms as the purchaser warrants. The finder’s fees paid in connection with the private placement are subject to Exchange approval.
All securities issued are subject to a four-month and a day hold period expiring on August 2, 2022, in accordance with applicable securities laws. The private placement is subject to final Exchange approval.
The proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company’s Granada Gold Property in Quebec and for general working capital purposes.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec which is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupere, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
Type | Category | Tonnes | Avg Grade Au (g/t) | Gold Ounces |
Open Pit | Measured | 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 |
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, News Home
Granada Gold Mine Releases 2022 Outlook and 2021 Summary
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) is pleased to present the outlook for 2022 and a review of 2021 operations.
“The discovery of rubidium at Granada is very encouraging. It will potentially affect the economics of the deposit by adding a by-product that is in demand. Adding rubidium salts to the electrolyte within lithium-ion batteries increases battery performance – which is critical for the EV market. Not only that, but rubidium has already been successfully leached using the Re-2Ox process. In addition to the rubidium discovery, we’ve intercepted some excellent gold results that highlight just how incredible this deposit is,” stated Frank J. Basa, P.Eng., President, and CEO.
Drilling Summary
The Company drilled a total of 30,000 meters in 2021 at its flagship Granada Mine in Rouyn-Noranda, Quebec during its infill diamond drill program to expand the existing open pit and underground resource. An updated resource estimate is planned by the end of Q1 2022. During this exploration program, a potentially large, low-grade, rare earth and alkaline metal structure was also identified.
Granada Gold Mine Project
2022 Outlook
- Exploration
- Continue with infill drill program, including deeper targets on the ‘Big Claim’ near the Cadillac Break
- GoldSpot AI drill target review
- Engineering Development
- Continue with bulk sample extraction from mining lease BM 813.
- Finish processing the bulk sample taken from mining lease BM 852 that is currently in progress at Temiskaming Testing Laboratories (TTL) in Cobalt, Ontario.
- Update the gold resource for underground and surface by SGS in first quarter of 2022.
- Finalize mineral resource estimate for Rubidium by SGS in the first quarter of 2022.
- Update historic prefeasibility study (PFS) for high-grade rolling start.
- Carry on with environmental studies using SGS to amendment existing Certificate of Authorization for on-site milling facilities.
2021 Year In Review
- Exploration
- Completed 30,000 meters of infill and deep diamond drilling.
- Drilled within structures to validate gold grade continuity in structures close to surface.
- Discovered significant Rubidium mineralization over a potential strike length of 1.6 kilometers.
- Hired GoldSpot AI to assist in targeting the Eastern extension of the Granada Gold Mine property for gold mineralization.
- Engineering Development
- Excavated overburden and sorted historic muck on mining lease BM 813 in preparation for bulk sample in 2022.
- Contracted SGS to complete additional metallurgical and environmental testing in order to amend our current permits to allow a potential mill on site.
- Started processing a bulk sample from mining lease BM 852 at TTL.
- Successful leach test at SGS in Lakefield using Re-2Ox process leaching 99% of Rubidium.
Company Core Values and Initiatives
- 1) Sustainable Development
Granada Gold Mine has a 1,400-hectare fully permitted for shipping, former gold-producing property in Quebec. We are a small, dynamic team that achieves progress and strives for success without compromising economic, social, or environmental integrity. We aim to meet the demands of today without compromising the needs of tomorrow.
- 2) Health & Safety
Safety is our top priority at Granada Gold Mine. With the COVID-19 pandemic still ongoing, we continue to enforce strict safety protocols to keep our staff safe during these trying times. Health and Safety is not solely a workplace topic, we believe that it is a mindset that defines a culture and allows our staff to return home safe at the end of the day.
- 3) Environment
We, at Granada Gold Mine, hold environmental responsibility in the highest regard. The Company aims to reduce our environmental impact and footprint as much as possible for the benefit of future generations. We are actively following through on our environmental obligations.
- 4) Community
The company has continually worked with local stake holders and First Nations communities. The Company engages in meaningful involvement and participation in local activities and uses locally sourced goods and services wherever possible.
- 5) Work Culture
At Granada Gold Mine, we set out to achieve a work culture that makes our staff feel safe, valued, and engaged. We believe that our employees are critical to company success and will act as the foundation for our future growth. We encourage respect between peers, trust in leadership, and opportunities for professional development. We strive for success in all things through collaboration and hard work.
Location
The Granada Gold project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
Type | Category | Tonnes | Avg Grade Au (g/t) | Gold Ounces |
Open Pit | Measured | 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 |
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Granada investor Canada Silver acquires 11.45 M shares
Canada Silver Cobalt Works Inc. owns 11,454,000 shares of Granada Gold Mine Inc., equal to 8.34 per cent of the issued and outstanding share capital. The shares were acquired through private placements and on the open market.
The common shares were acquired by Canada Silver for investment purposes.
About Granada Gold Mine Inc.
Granada Gold Mine continues to develop and explore its 100-per-cent-owned Granada gold property near Rouyn-Noranda, Que., which is adjacent to the prolific Cadillac break.
The company owns 14.73 square kilometres of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000 metres (m) out of 120,000 m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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 22 mineralized structures trending east-west over 5.5 kilometres. Three of these structures were mined historically from four shafts and three open pits. Historical underground grades were eight to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open-pit grades from 3.5 to five grams per tonne gold.
Mineral resource estimate
On March 15, 2021, the company released an updated National Instrument 43-101 resource estimate for the Granada gold project with a combined total of 713,000 gold ounces of measured, indicated and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated and inferred for the open pit and 362,000 gold ounces of combined measured, indicated and inferred for the underground.
The property includes the former Granada gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930s from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted a bulk sample (pit No. 1) of 87,311 tonnes grading 5.17 grams per tonne gold. It also extracted a bulk sample (pit No. 2) of 22,095 tonnes grading 3.46 grams per tonne gold.
- Published in Canada Cobalt Works, Granada Gold Mine, Mining
Granada Gold Mine Prepares to Extract Bulk Sample on Extension of High-Grade Zone on Mining Lease BM 813 in 2022
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) is pleased to announce that it has initiated stripping of overburden and block sorting of historical broken mineralized material on mining lease BM 813 as part of its ongoing work to assess the grade on the structure East of former open pit #1.
Based on high-grade drill results, both down-dip within the structure and across the structure (see Press Release September 7, 2021 for detailed assay results), the company initiated the sorting and relocation of broken, mineralized material on mining lease BM 813 in September 2021. This work should enable extraction and sampling of the mineralized structures which links to the structure on the mining lease BM 852 where a previous bulk sample was taken 250m to the East (see Press Release June 16, 2021).
The ongoing stripping is expected to continue until the area is free of overburden. The second phase, consisting of cleaning the surface with a smaller excavator, will follow in spring to early summer of 2022.
Granada President and CEO Frank J. Basa, P.Eng., states: “The company is working on multiple fronts to enable development of its Granada asset. A portion of 500 tonnes of the mineralized material blasted on lease BM 852 has been shipped to the TTL laboratory in Cobalt, Ontario to assess the free gold content and the grade of the mineralization. This should allow the company to make comparisons to the adjacent drill results and the latest Mineral Resource block model from SGS Geostat. We are looking forward to having preliminary results from that extraction. The company will do the same for the structure on lease BM 813 in 2022”.
Location
The Granada Gold project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million Ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
- Published in Granada Gold Mine, Mining, News Home
Granada Gold Intersects 5.5 g/t Au Over 6 Meters Including 31.3 g/t Au Over 1 Meter During Infill Drilling
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) is pleased to announce additional results from its on-going drill program at its Granada Gold project with multiple new gold assays from its GR-21-22, GR-21-23, GR-21-24 and GR-21-25 drill holes with grades up to 31.30 g/t over 1.00m, 11.70 g/t over 1.00m, and 10.05 g/t over 0.50m.
Drilling Highlights
- Drill holes GR-21-22, GR-21-23, GR-21-24 and GR-21-25 were designed to confirm the presence of gold mineralization at shallow depth.
- The drill holes were aimed to fill gaps in the SGS mineral resources envelopes, with the potential of increasing the tonnage of the high-grade, open-pit resource grade of 2 grams per tonne gold.
- GR-21-22 intersected
- 1.25g/t Au over 7.75m
- GR-21-23 intersected
- 5.54 g/t Au over 6.00m, including 31.30 g/t Au over 1.00m
- GR-21-24 intersected
- 0.78g/t Au over 11.70m, including 5.40 g/t Au over 0.60m
- GR-21- 25 intersected
- 1.14 g/t Au over 5.1m, including 10.05 g/t Au over 0.50m
“The assay results from these drill holes prove the continuity of mineralization along the main Granada central structure. Also, the 30,000-meter drill program we conducted over the past year has confirmed that the average assays of the down-dip results of the mineralized structure are consistently higher than the previous perpendicular-to-structure drill results. The company is planning another bulk sample similar in size as the previous one taken to get a better understanding of the correlation to drill data results. We expect the bulk sample results to give a more representative grade of the mineralized vein zone,” commented Frank J. Basa, P.Eng., President and CEO.
A 500-tonne bulk sample of mineralized material was taken in the fall of 2020 (Press Release June 16, 2021) based on drill holes GR-19-A, -B and -C. The processing of this bulk sample is progressing well at Temiskaming Testing Labs, in Ontario, Canada. To date, 400 tonnes have been processed with the remaining 100 tonnes to be processed by the first quarter of 2022. Visible gold has been encountered during processing. The previous sample of 1,220 kilograms returned 55.6 grams per tonne of physical gold (Press Release August 11, 2020). The company is targeting a minimum open-pit resource grade of 2 grams per tonne.
Figure 1: Plan Map Showing Drill Hole Traces and Significant Assay Locations Immediately Northeast of Pit #1.
Click Image To View Full Size
Table 1: Sample Details
Hole ID | Target Location | From (m) | To (m) | Length (m) | Au (g/t) |
GR-21-22 | Northeast of Pit#1 | 111.70 | 112.90 | 1.20 | 2.37 |
GR-21-22 | Northeast of Pit#1 | 165.90 | 173.65 | 7.75 | 1.25 |
GR-21-22 | Northeast of Pit#1 | 190.25 | 194.00 | 3.75 | 1.10 |
GR-21-23 | Northeast of Pit#1 | 135.50 | 141.50 | 6.00 | 5.54 |
Including | Northeast of Pit#1 | 135.50 | 136.50 | 1.00 | 31.30 |
GR-21-23 | Northeast of Pit#1 | 188.00 | 193.00 | 5.00 | 0.86 |
GR-21-23 | Northeast of Pit#1 | 214.50 | 221.60 | 7.10 | 2.44 |
Including | Northeast of Pit#1 | 214.50 | 215.50 | 1.00 | 11.70 |
GR-21-24 | Northeast of Pit#1 | 243.75 | 255.45 | 11.70 | 0.78 |
Including | Northeast of Pit#1 | 247.70 | 248.30 | 0.60 | 5.40 |
Including | Northeast of Pit#1 | 254.90 | 255.45 | 0.55 | 4.99 |
GR-21-24 | Northeast of Pit#1 | 336.30 | 340.70 | 4.40 | 0.57 |
GR-21-24 | Northeast of Pit#1 | 425.85 | 426.35 | 0.50 | 5.73 |
GR-21-25 | Northeast of Pit#1 | 169.05 | 170.20 | 1.15 | 2.82 |
GR-21-25 | Northeast of Pit#1 | 182.45 | 189.00 | 6.55 | 1.01 |
GR-21-25 | Northeast of Pit#1 | 201.00 | 206.10 | 5.10 | 1.14 |
Including | Northeast of Pit#1 | 205.60 | 206.10 | 0.50 | 10.05 |
GR-21-25 | Northeast of Pit#1 | 258.80 | 261.00 | 2.20 | 3.54 |
GR-21-25 | Northeast of Pit#1 | 273.20 | 276.70 | 3.50 | 2.43 |
GR-21-25 | Northeast of Pit#1 | 289.00 | 291.50 | 2.50 | 2.43 |
including | Northeast of Pit#1 | 290.00 | 290.55 | 0.55 | 10.75 |
Please note: Bolded intervals represent assay composite calculations. Non-bolded intervals represent single assays. G/t refers to grams per tonne. Intervals are core length with no capping applied.
Location
The Granada Gold project is located near Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million Ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 and Le Citoyen, June 19, 2020).
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
Quality Control and Reporting Protocols
The 2021 assay results are from ALS laboratory in Val d’Or. The screen metallic fire assay method is pre-selected by the geologist or geological engineer when samples contain visible gold. The drill program, quality assurance, quality control (QAQC), and interpretation of results is performed by qualified persons employing procedures consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QAQC purposes for this program in addition to the lab QAQC.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec which is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
Or:
Wayne Cheveldayoff,
Corporate Communications
P: 416-710-2410
E: waynecheveldayoff@gmail.com
- Published in Granada Gold Mine, Mining, News Home
Granada Gold Mine Engages GoldSpot Discoveries to Apply AI to Further Extend Granada Gold’s Resources Along Strike
Granada Gold Mines Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (“Granada” or “Granada Gold”) is pleased to announce that it has engaged GoldSpot Discoveries Corp. (TSXV:SPOT) (“GoldSpot”) to apply their proprietary machine learning technology and geoscience expertise to the Granada Property in the Abitibi Greenstone Belt near Rouyn-Noranda, Quebec.
The Granada property has a history of mining and exploration stretching back to the 1930s when it produced 51,476 oz Au. Over the years the property has been drilled by multiple companies with over 120,000m drilled and Granada Gold has drilled 30,000m of an additional 120,000m to expand on the existing resource.
The existing resource at Granada has an in-pit measured and indicated 5,113,000 tonnes at 2.06 g/t Au for 339,000 gold ounces and an underground measured and indicated 844,000 tonnes at 4.03 g/t Au for 109,000 gold ounces, as well as 1,244,000 tonnes at 6.33 g/t for 253,000 gold ounces inferred.
GoldSpot Discoveries will be working closely with the team at Granada to provide Smart Targeting for their ongoing drill program to help expand the existing resource as well as to provide additional exploration targets for new discoveries. The property at Granada, including the existing open pits and the previous Granada Mine shafts, covers 1,473.77 ha over 2 km of strike length and the potential for strike length to be extended to 5.5 km stretching to the Aukeko and Austin Rouyn Mine Shafts to the east.
“We are very excited to be working with Granada Gold Mine Inc. on their project in the Abitibi. GoldSpot has an extensive history working in the area and we look forward to building on our previous successes with the interesting and highly prospective project at Granada,” c omments GoldSpot Chief Executive Officer, Vincent Dubé-Bourgeois. “The Granada project is on the verge of production and GoldSpot plans on helping Granada expand their existing resource to be able to mine well into the future.”
Frank J. Basa, P.Eng, President and Chief Executive Officer, commented: “The Granada team is looking forward to working with the experienced team at GoldSpot to help maximize shareholder value – to expand existing resources and identify new targets.”
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
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
- 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%
- Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell
- 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
Granada Gold Mine Proceeds with Metallurgical and Environmental Studies for On-Site Milling at Granada
Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt: B6D) (the “Company” or “Granada”) is pleased to announce that it has engaged SGS Canada for metallurgical and environmental studies for on-site milling at its Granada project near Rouyn-Noranda, Que
The studies will be used for the planned application to modify the Company’s existing Quebec Certificate of Authorization, which currently allows for the open-pit mining of 8,000 tonnes per day at the property and the custom milling of 550 tonnes per day (200,000 tonnes per year) at a local mill.
Granada President and CEO Frank J. Basa, P.Eng., states: “Earlier this year the historical open-pit resource of 1 gram/tonne at Granada was recalculated to 2 grams per tonne open pit and 4 grams per tonne underground. More recently, we completed 30,000 meters of an in-fill drill program that includes the 100 and 200 series drill holes, with the results indicating there is more gold in the mineralized structures than defined by the historical 120,000 meters of drilling. The combined potential impact of these developments is a positive change in the processing economics of the project. We have therefore decided to begin the process for amending the existing permits to enable on-site milling at Granada.”
SGS Canada will be testing ore processing with the addition of calcite with gravity and cyanidation of gravity tails, as well as processing the ore by gravity and flotation for production of gold sulfides concentrates. The studies are expected to begin in November 2021.
Since the Granada 43-101 mineral resource estimate was last updated, the Company has completed 30,000 meters of a planned 120,000-meter drill program. An update of the estimate to include the latest drill results is planned for Q1 2022.
Location
The Granada Gold project is located in an established mining district 5 km south of Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million Ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
---------------------------------------------------- |Type |Category |Tonnes |Avg Grade|Gold | | | | |Au (g/t) |Ounces | |--------------------------------------------------| |Open Pit |Measured |3,756,000|1.89 |228,000| | |--------------------------------------| | |Indicated |1,357,000|2.55 |111,000| | |--------------------------------------| | |Measured +|5,113,000|2.06 |339,000| | |Indicated | | | | | |--------------------------------------| | |Inferred |34,000 |11.29 |12,000 | |--------------------------------------------------| |Underground|Measured |37,000 |4.22 |5,000 | | |--------------------------------------| | |Indicated |807,000 |4.02 |104,000| | |--------------------------------------| | |Measured +|844,000 |4.03 |109,000| | |Indicated | | | | | |--------------------------------------| | |Inferred |1,244,000|6.33 |253,000| ----------------------------------------------------
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
- Published in Granada Gold Mine, Mining, News Home
Granada Gold Intersects 1.11 g/t Gold over 109.60m and 53.70 g/t Au over 0.65m and 7.19 g/t Gold over 8.85m in 200-Series Drill Holes
These new intercepts verify the continuity of mineralization along the main Vein #2 high-grade gold-bearing structure up to 250m to the west of Pit #2.
Rouyn Noranda, Q.C. – TheNewswire – October 4, 2021 – Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or “Granada”) is pleased to announce additional results from its on-going drill program at its Granada Gold project with multiple new assays from its 200-Series drill holes. These intervals include 1.11 g/t Au over 109.65m, 7.20 g/t Au over 8.85m, and with grades of up to 53.70 g/t Au over 0.65m, and 29.00 g/t Au over 0.50m.
Drilling Highlights
- – The 200-Series drill holes (GR-21-26 and GR-21-28) were designed to determine the variability of gold mineralization of the main vein zone within the western extension of Pit #2 by drilling down the dip of the structure – similar to the 200-series drill holes previously released on September 7, 2021, that were focusing on the area east of Pit #1.- These assay results confirm the significant extent of localized, high-grade gold mineralization within the structure as well as prove the continuity of the mineralization over much broader intervals (of up to 109m down-dip) of the main zone below surface west of Pit #2.- GR-21-26 intersected 1.11 g/t Au over 109.65m, including:
- – 15.35 g/t Au over 1.70m- 29.00 g/t Au over 0.50m – 7.13 g/t Au over 7.70m- 9.32 g/t Au over 1.75m- 53.70 g/t Au over 0.65m
- – 13.62 g/t Au over 2.30m- 28.10 g/t Au over 0.80m
“The assay results in these drill holes prove the continuity of mineralization along the main Granada footwall structure that is located between the Granada and Pontiac formations and confirm the extension to depth of high-grade gold mineralization. This supports the view that our gold grades and occurrences are continuous and have substantial thickness to the zone. Moreover, it clearly shows the previous operators did not extract all the gold near surface, particularly in the main footwall structure” said Frank J. Basa, P.Eng., President and CEO.
Click Image To View Full Size
Figure 1: Plan Map Showing Drill Hole and Assay Locations just West of Pit #2.
Table 1: Sample Details
The mineralized zone at the western extension of Pit #2 contains a collection of multiple veins with sulfide mineralized halos. The zone contains 2 distinct sub-parallel mineralized veins which connect with the former Pit #2 to the east. The true thickness of these mineralized structures varies between 2m and 11 m. The main zone of these 2 structures is what was tested with the 200-Series drill holes.
The 200-Series holes were designed with an azimuth of 10-30 degrees to the north attempting to drill down the vein structures as opposed to obliquely. Normally, the drill holes are aimed southward which are designed to intersect the structures at a high angle, with an azimuth in the general range of 170-190 degrees. Previous intercepts into this structure near these 2 holes have returned grades such as 4.04 g/t gold over 7.50 meters ( true thickness) in hole GR-10-13 , and 3 .99 g/t gold over 6.00 meters in hole GR-11-226. The results we see in these 200-Series drill holes validate the assays encountered previously in other drill programs (such as the ones in 2010 & 2011) and confirm the continuity of the gold mineralization. It also demonstrates that the system is a multi-vein system (as opposed to a single discrete vein). This is why the true thickness of the gold mineralization at Granada varies significantly from small high-grade intervals, such as example 95.00 g/t over 0.50m, to even 0.31 g/t over 301m (Press Release September 18, 2012) depending on the location within the property and cut-off grade used for the calculation.
Location
The Granada Gold project is located near Rouyn-Noranda adjacent to the prolific Cadillac Break shear zone, which is hosted in Pontiac metasedimentary rocks, granites, and younger syenite sills along the Granada shear zone (LONG Bars Zone). The project is located on the same side of the Cadillac Fault as the Canadian Malartic mine property, which has historically produced 12.7 million Ounces of gold from 1935 to 2010 with an additional 5 million ounces as of June 18, 2020 (Canadian Malartic Technical Report of March 25, 2021 & Le Citoyen June 19, 2020).
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc., a member of the Québec Order of Engineers, and is a qualified person in accordance with the National Instrument 43- 101 standards.
Quality Control and Reporting Protocols
All NQ core assays reported for Wedges of 2020 holes were obtained by either 1-kilogram screen metallic fire assay or standard 50-gram fire assay (with either atomic absorption or gravimetric finish). This was completed at the SGS Laboratory in Vancouver, British Columbia with the sample preparation completed in Val d’Or, Québec. The 2021 assay results are from ALS laboratory in Val d’Or. The screen metallic fire assay method is pre-selected by the geologist or geological engineer when samples contain visible gold. The drill program, quality assurance, quality control (QAQC), and interpretation of results is performed by qualified persons employing procedures consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QAQC purposes for this program in addition to the lab QAQC.
Mineral Resource Estimate
On March 15, 2021 the Company released an updated NI 43-101 resource estimate for the Granada Gold project (Please see January 29, 2021 news release) with a combined total of 713,000 gold ounces of measured, indicated, and inferred. This estimate contains 351,000 gold ounces of combined measured, indicated, and inferred for the open pit and 362,000 gold ounces of combined measured, indicated, and inferred for the underground. Please see Table 2 below for full details. Report reference: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, P.Geo., SGS Canada Inc. with an effective date of December 15, 2020 and signature date of March 15, 2021.
Table 2: Mineral Resource Estimate Showing Tonnes, Average Grade, and Gold Ounces
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop and explore its 100% owned Granada Gold Property near Rouyn-Noranda, Quebec, and is adjacent to the prolific Cadillac Break. The Company owns 14.73 square kilometers of land in a combination of mining leases and claims. The company is currently undergoing a large drill program with 30,000m out of 120,000m complete. The drills are currently paused to provide the technical team with the necessary time to evaluate and assimilate existing data.
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.
The property includes the former Granada Gold underground mine which produced more than 50,000 ounces of gold at 10 grams per tonne gold in the 1930’s from two shafts before a fire destroyed the surface buildings. In the 1990’s, Granada Resources extracted a bulk sample (Pit #1) of 87,311 tonnes grading 5.17 g/t Au. They also extracted a bulk sample (Pit # 2) of 22,095 tonnes grading 3.46 g/t Au.
“Frank J. Basa”
Frank J. Basa, P. Eng.
Chief Executive Officer
For further information, Contact:
Frank J. Basa, P.Eng.
Chief Executive Officer
P: 416-625-2342
- Published in Granada Gold Mine, Mining, News Home