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
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
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
Granada Gold Mine Announces Filing of NI 43-101 Technical Report for the Granada Gold Project, Quebec, with Updated High-Grade Mineral Resource Estimate
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce the filing on SEDAR (www.sedar.com) of a technical report for its Granada Gold Project. The report, dated March 15, 2021, is entitled “Technical Report on the Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada.” The report can also be found on the Company’s website at www.granadagoldmine.com and provides an updated High-Grade Mineral Resource Estimate of the Granada Gold Deposit using narrow, rich, vein modelling and both open pit and underground resources and revised pit optimization parameters which are based on the possibility of off-site custom milling ore rather than constructing and using an on-site mill.
The report was prepared in accordance with the regulations laid out in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”) by Yann Camus P.Eng. and Maxime Dupéré, géo., of SGS Canada Inc., who are independent “Qualified Persons” as defined by NI 43-101. The report supports, and provides greater detail about, the technical basis and scientific rationale of the updated resource estimate initially announced in a Company press release on January 29, 2021. The updated MRE focused on using a scenario with higher cut-off grades than that used in the 2019 MRE. Gold price used is 1600 US$/oz.
The report concludes
There is an opportunity on the Project to extend known mineralization at depth and along strike on the Property.
The Authors consider that the Granada deposit contains a significant open pit and underground Mineral Resource that is associated with a well-defined gold mineralized trend and model. The current Mineral Resource Estimate Update has shown that the Deposit can likely be mined by conventional open pit and underground mining methods with a scenario of off-site custom milling rather than constructing and using an on-site mill. Deeper drilling recently completed also demonstrates that the Property has the potential for a significant underground resource.
The Authors consider the Property to have significant potential for delineation of additional Mineral Resources and that further exploration is warranted. Granada Gold’s intentions are to continue to drill the Deposit in 2021 and plan to direct their exploration efforts towards resource growth, with a focus on extending the limits of known mineralization along strike and at depth, as well as infill drill the existing deposit in order to convert portions of Inferred mineral resources into Indicated or Measured.
Given the prospective nature of the Property, it is the Author’s opinion that the Property merits further exploration and that a proposed plan for further work is justified. A proposed work program by SGS will help advance the Deposit towards a pre-development stage and will provide key inputs required to evaluate the economic viability of a mining project (open pit and underground) at a pre-feasibility study level.
SGS is recommending Granada Gold conduct further exploration, subject to funding and any other matters which may cause the proposed exploration program to be altered in the normal course of its business activities or alterations which may affect the program as a result of exploration activities themselves. For 2021, a total of 45,000 m of drilling is proposed to continue to focus on expanding and extending mineral resources, upgrading existing Inferred resources as well as exploring the Deposit at depth.
The total cost of the recommended work program is estimated at C$10,775,000 (Table 1).
Table 1 Recommended 2021 Work Program for the Granada Deposit
Item | Cost in CAD$ |
Resource Expansion Drilling and Resource Classification improvement 2021 (Open Pit; <500 m depth) 15,000 m | $2,250,000 |
Resource Identification Drilling (Underground; > 500 m depth) drilling 20,000 to 30,000 m | $6,000,000 |
Assays/Geochemistry | $1,400,000 |
Additional Metallurgical Testing | $250,000 |
Continued geotechnical studies for improved pit optimization parameters | $150,000 |
Environmental Baseline Studies | $150,000 |
Updated Resource Estimate | $75,000 |
Pre-feasibility Study and Related Studies | $500,000 |
Total: | $10,775,000 |
Qualified person
The technical information in this news release has been prepared by Yann Camus, P.Eng., independent qualified person of SGS and was 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 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.
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/March2021/16/c5369.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
Granada Closes Private Placement
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce that the Company has closed a non-brokered private placement financing, raising gross proceeds of $1,000,000.
The Company has issued 5,000,000 units (“Units”) at a price of $0.20 per Unit. Each Unit is comprised of one common share of the Company and one share purchase warrant. Each whole warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of $0.22 per share for a period of three years from closing, subject to TSX Venture Exchange approval.
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 Québec and general working capital.
All securities issued in connection with the private placement are subject to a four-month and a day hold period expiring on June 24, 2021, in accordance with applicable Securities Laws.
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 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
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/February2021/23/c6447.html
- Published in Granada Gold Mine, News Home
Granada Hits 107.8 g/t Gold Over 4 Meters Including Multiple High-Grade Veins at Depth
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to announce additional high-grade gold results from its on-going drill program at Granada. This release contains diamond drill results under the pit-constrained mineral resource with 5 holes.
Highlights:
- 3.64 g/t gold over 3.45m in GR-20-15 from 399.00 to 402.45m
- 5.25 g/t gold over 1.5m in GR-20-17 from 301.50 to 303.00m
- 2.47 g/t gold over 3.00 in GR-20-18 from 510.50 to 513.50m
- 13.20 g/t gold over 1.00 in GR-20-19 from 583.12 to 584.12m
- 107.8 g/t gold over 4.00m in hole GR-20-21 from 617.40 to 621.40m
The intersections, many of which are mineralized between previously identified intervals, show extension and continuity of the mineralized structures. Significant high-grade intersections were encountered in the drill holes. In particular, GR-20-21, which intersected 107.8 g/t gold over 4 meters (details in Table 1). It extends the strike to the northeast and is the best drill result of the 2020 exploration drill program. The hole GR-20- 21 is being wedged off.
“These drill results continue to exceed expectations and demonstrate the potential of Granada. The exploration efforts have delivered some of our most significant results to date, extending the high-grade strike to the northeast and confirm continuity and high-grade gold mineralization at depth,” said Frank J Basa, P.Eng., President & CEO.
For a summary of today’s drill results, refer to table 1.
The 2021 Exploration program
The 2021 exploration drill program recently started with drilling of wedges and new holes under the higher-grade open pit constrained resources to increase the quantity and quality of the mineral resources. The drilling will focus on filling the gaps to allow building of additional mineral resources in addition to the testing of continuity of the structures with the 200-series holes.
Table 1: ASSAY RESULTS LOCATED BELOW THE 2021 HIGHER-GRADE, PIT-CONSTRAINED MINERAL RESOURCE
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-15 | 331.15 | 336.15 | 5.00 | 1.43 |
AND | 346.65 | 349.65 | 3.00 | 2.85 |
AND | 399.00 | 402.45 | 3.45 | 3.64 |
Including | 400.50 | 402.45 | 1.95 | 6.41 |
GR-20-17 | 294.00 | 303.00 | 9.00 | 1.40 |
Including | 301.50 | 303.00 | 1.50 | 5.25 |
AND | 318.00 | 321.00 | 3.00 | 2.05 |
AND | 364.00 | 367.75 | 3.75 | 1.83 |
Including | 367.00 | 367.75 | 0.75 | 5.75 |
GR-20-18 | 510.50 | 513.50 | 3.00 | 2.,47 |
AND | 526.40 | 529.40 | 3.00 | 1.66 |
AND | 564.50 | 567.00 | 2.50 | 2.17 |
AND | 596.70 | 600.00 | 3.30 | 2.64 |
GR-20-19 | 498.50 | 504.50 | 6.00 | 1.90 |
Including | 503.00 | 504.50 | 1.50 | 6.20 |
AND | 577.50 | 584.12 | 6.62 | 2.35 |
Including | 583.12 | 584.12 | 1.00 | 13.20 |
GR-20-21 | 560.40 | 563.40 | 3.00 | 3.93 |
Including | 560.40 | 561.90 | 1.50 | 7.80 |
AND | 617.40 | 621.40 | 4.00 | 107.8 |
AND | 759.60 | 760.10 | 0.50 | 3.35 |
Lengths are core length and are close to true widths, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method.
Table 2 presents the characteristics of the drill holes of this release.
TABLE 2: DRILL HOLE LOCATION DATA
Hole | UTME | UTMN | Elevation | Azimuth | Dip | Length (m) |
GR-20-15 | 647226.5 | 5338476.9 | 303.32 | 180.0 | -80.3 | 552 |
GR-20-16 | 647006.5 | 5338446.3 | 312.52 | 201.5 | -73.1 | 498 |
GR-20-17 | 647006.6 | 5338446.4 | 312.48 | 201.5 | -80.2 | 558 |
GR-20-18 | 647335.7 | 5338656.3 | 302.05 | 222.0 | -65.0 | 600 |
GR-20-19 | 647335.7 | 5338656.3 | 302.05 | 197.6 | -65.0 | 702 |
GR-20-20 | 645968.0 | 5339544.0 | 292.0 | 183.6 | -86.0 | 588 |
GR-20-21 | 647335.7 | 5338656.3 | 302.05 | 197.6 | -65.0 | 761 |
GR-20-22 | 647617.0 | 5339243.0 | 290.0 | 4.4 | -65.0 | 1600 |
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.
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The screen assay method is selected by the geologist when samples contain visible gold. The drill program, 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.
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.
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.
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 |
“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/February2021/19/c1734.html
- Published in Granada Gold Mine, Mining, News Home
Granada Presents Updated High-Grade Mineral Resource Estimate
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to provide an updated High-Grade Mineral Resource Estimate of the Granada Gold Deposit using narrow, rich, vein modelling and both open pit and underground resources and revised pit optimization parameters which are based on the possibility of off-site custom milling ore rather than constructing and using an on-site mill.
The National Instrument 43-101 Technical Report, including the updated mineral resources for Granada contained in this news release, is currently being completed by SGS and will be delivered and filed on SEDAR by GGM within 45 days. The objective of the SGS assignment is to update the MRE using the available data as of December 15, 2020. The goal is to present resources with both open pit potential and underground potential. Also, gold prices have evolved significantly since the 2019 MRE and that has helped the MRE presented here.
The updated MRE focused on using a scenario with higher cut-off grades than that used in the 2019 MRE. Gold price used is 1600 US$/oz.
Table 1 Updated Mineral Resource Estimate Base Case
1. | The 1930-1935 production was removed from these numbers (164,816 tonnes at 9.7 g/t Au / 51,400 ounces Au) |
2. | The Independent QP for this resources statement is Yann Camus, Eng., SGS Canada Inc. |
3. | The effective date is December 15, 2020 |
4. | CIM (2014) definitions were followed for Mineral Resources |
5. | Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration |
6. | No economic evaluation of the resources has been produced |
7. | All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add due to rounding |
8. | Composites have been capped where appropriate. |
9. | 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$1, a gold recovery of 93% |
10. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
11. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
12. | A fixed specific gravity value of 2.78 g/cm3 was used to estimate the tonnage from block model volumes |
13. | There are no mineral reserves on the Property |
14. | The 2.5 m composites were capped at 21 g/t Au in the thin rich veins and at 7 g/t Au in the low-grade volumes |
15. | The deepest resources reported are at a depth of 760 m |
16. | SGS is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issues that could materially affect the mineral resource estimate. |
Revised Parameters
Table 1 General Parameters Used for the Mineral Resource Estimate Update
Parameter | Value | Unit |
Gold Price | 1600 | US$ per oz |
Exchange Rate | 0.76 US$ : 1 CA$ | |
Pit Slope | 50 | Degrees |
Open Pit Mining Cost | 6.00 | CA$ per tonne mined |
Underground Mining Cost | 105.00 | CA$ per tonne mined |
Processing, Transportation Cost and G&A | 35.00 | CA$ per tonne milled |
Gold Recovery | 93 | Percent (%) |
Open Pit and Underground Mining loss / Dilution | 10 / 20 | Percent (%) / Percent (%) |
Open Pit Cut-off Grade | 0.9 | g/t Au |
Underground Cut-off Grade | 3.0 | g/t Au |
About the Mineral Resource Estimate
New drilling was achieved by GoldMinds Geoservices in 2020. While some of the results were still pending, SGS was mandated to create an updated resource estimation that shows both the potential for open pit resources and underground resources. In order to do that, the individual thin, rich veins had to be modelled individually. These veins are quite continuous (over distances of 800 m in strike and 900 m down dip). Mineralization is open at depth and on strike. The maximum distance between linked intervals is currently about 150 m. Some gaps of about 300 m have no drilling but should contain mineralization given the continuous nature of the deposit.
The database used for this mineral resource estimate includes drill results obtained from drill programs in 2009, 2010, 2011, 2012, 2016, 2017, 2018, 2019, 2020 and trenches from 2014 and 2015 plus many of the historic holes (1990’s).
The thin, rich veins were modelled as a first step in the estimation process. A grade of 0.7 g/t over a length of 2.5 m was used as a minimum. While the 2.5 m constraint was always met, some intervals were considered under 0.7 g/t to allow to model continuous mineralized structures. We estimate that the final 56 thin, rich veins modelled contain 88% of the gold from intervals that meet the 0.7 g/t over 2.5 m criteria.
A large, low-grade zone was modelled around all intervals containing significant gold. This large, low-grade volume is similar in shape and size to the previous resource model.
Composites of 2.5 m were created inside the thin, rich veins and in the low-grade volume. All resulting 57 volumes were estimated as hard boundaries. The rich, thin vein composites were capped at 21 g/t. It has a similar impact on gold content as the previous estimate capping methodology. The low-grade composites were capped at 7 g/t.
A block model was created with blocks of 5 x 2.5 x 2.5 m to fill the rich, thin veins while using block centers as indicators for the block’s nature. Both the kriging and inverse square distance estimation methods were tested with very similar results globally. The kriging is more conservative in grade and gold content once we apply the cut-off grades to report resources. Kriging was retained as the estimation method of choice for this project. Search ellipsoids used for the estimation are of 30 x 30 x 7.5 m, 60 x 60 x 15 m and 100 x 100 x 30 m respectively. A minimum of a single drillhole is needed to estimate blocks inside thin, rich veins. A minimum of 2 drillholes are needed to estimate blocks in the low-grade volume. Search ellipsoid orientations are variable depending on local orientation of the model.
The classification in measured, indicated and inferred was done as a separate step with an algorithm with ellipsoids centered on composites. A drilling grid with a minimum of 3 drillholes within 30 m of each other or less defines measured resources (under 25 m most of the time) and a drilling grid with a minimum of 3 drillholes within 60 m of each other or less defines indicated resources (under 50 m most of the time). Measured resource extends only by 20 m around drillholes and indicated extends only by 40 m.
The mineral resource statement EXCLUDES the historical production of 51,476 ounces of gold (181,744 Tons @ 0.28 oz/Ton Au) from 1930 to 1935. These numbers were subtracted from the measured resources in the whittle open pit.
The supporting NI 43-101 Technical Report will be posted on SEDAR at www.sedar.com no later than 45 days after the date of this release.
All information pertaining to the resource estimates has been reviewed for accuracy and compliance under National Instrument 43-101 by Yann Camus, P.Eng., SGS Canada Inc. and Qualified Person.
Mineral Resource Estimate Details
The following tables show the separation of resources between the open pit portion and the underground portion of it.
Same footnotes as Table 1 apply to this table. |
Earlier this year, (Granada Gold Mine Press Release, August 11, 2020) the Company processed by conventional gravity concentration, a large 1220-kilogram grab sample taken over a 3-meter strike length in this stripped area, resulting in the recovery of 55.6 g/t native gold where the native gold component has been defined, for the Granada Gold Mine, to represent an average of 50% of the recoverable gold (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1). The gold-bearing sulphides were not recovered.
“This updated High-Grade Mineral Resource shows the Granada deposit has the potential for extensive custom milling as well as for an on-site mill. The current mineral resource was derived from near-surface drilling over 2 kilometers of an east-west 5.5-kilometer mineralized structure. Exploratory drilling to the north, near the Cadillac Break has encountered high-grade mineralization at a vertical depth of 1100 meters. Mineralization is open at depth and on strike. The company is targeting 2.5 to 3 million ounces with the current 120,000-meter drill program building on the existing 120,000 metres drilled to increase the density of holes on the property.” said Frank J. Basa, P.Eng., President and CEO, “We are also fully permitted and shovel-ready as a shipper of ore to any local mill.”
Qualified person
The technical information in this news release has been prepared by Yann Camus, P.Eng., independent qualified person of SGS and was 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 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 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
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 to download multimedia: http://www.newswire.ca/en/releases/archive/January2021/29/c0309.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
Granada Gold Hits 3.43 g/t Gold Over 20.5 Meters Near Surface and 6.45 g/t Over 4.5 Meters and 7.9 g/t Over 3 Meters
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to provide another update on its continuing drill program at Granada. This release contains drill results from the 100-series, part 3, near-surface drill program targeting Vein 1. The program is progressing as expected with the intention of converting the current low-grade open pit resource at 1 gram per tonne to a smaller, higher grade open pit with the majority of the future potential ounces in a resource underground. The company has now increased the drill program to 18,000 meters with a target of 120,000 meters to be drilled.
Highlights:
- 7.9 g/t gold over 3.0m in hole GR-20-121 from 15.0 to 18.0m
- 6.45 g/t gold over 4.5m in hole GR-20-122 from 0.0 to 4.5m
- 3.43 g/t gold over 20.5m in hole GR-20-126 from 0.0 to 20.5m
Frank J. Basa, P.Eng., President and CEO notes, “The short-hole drill program has been successful and the company will begin with a new 200-series program with the objective of identifying deeper, down-dip, near-surface mineralization to develop a higher-grade open pit. The current program has been focused on an over 500 meters east-west strike length of a potential 5.5 kilometers mineralized strike length.”
ASSAY RESULTS
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-121 | 0.00 | 9.00 | 9.00 | 0.45 |
and | 15.00 | 18.00 | 3.00 | 7.90 |
including | 15.00 | 16.50 | 1.50 | 15.65 |
GR-20-122 | 0.00 | 10.50 | 10.50 | 3.25 |
including | 0.00 | 4.50 | 4.50 | 6.45 |
and | 67.50 | 78.00 | 7.00 | 0.66 |
and | 87.35 | 91.45 | 4.10 | 3.06 |
including | 88.85 | 91.45 | 2.60 | 4.46 |
GR-20-126 | 0.00 | 20.50 | 20.50 | 3.43 |
including | 11.00 | 13.00 | 2.00 | 4.12 |
including | 16.00 | 18.00 | 2.00 | 14.9 |
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method. Other assays results are still pending. As the Company is being impacted by longer than expected turnaround time (TAT) of analytical results due to COVID-19 and extensive workloads at the ALS laboratory the Company has decided to send the next samples to SGS laboratories to shorten the time frames.
The 100-series holes were drilled to intersect the vein uncovered by stripping and to follow the high-grade corridor. Holes GR-20-118 to GR-20-125 are vertical holes drilled to intersect the mineralized vein structures and Hole GR-20-126 is drilled within the vein structure.
Typical true thickness of the number 1 vein is 1.5 to 6.0 meters. The halo effect around vein 1 has been measured up to 20 meters true thickness with numerous mineralized veinlets hosting native gold. It has been estimated, based on metallurgical testing, that close to 50 percent of the gold is in native form and can be recovered from these veinlets.
Current Drilling
Drilling continues with two drills remaining on site at Granada. The goal is to complete 6000-meter drill program intervals with the objective of targeting 120,000 meters. The current program is focused on exploration on only 20 percent of the entire potential 5.5-kilometre mineralized structure.
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.
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The screen assay method is selected by the geologist when samples contain visible gold. The drill program, 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.
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.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP Maxime Dupéré Geo. & Allan Armitage P. Geo “Technical Report on the Granada Gold Project Mineral Resource Estimate, Rouyn-Noranda, Quebec, Canada” stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
* Pit constrained mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell.
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
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 to download multimedia: http://www.newswire.ca/en/releases/archive/January2021/27/c3415.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
Granada Hits 2.39 g/t Gold Over 29 Meters Near Surface Including 7.72 g/t Over 4.5 Meters & 7.29 g/t Over 5.02 Meters
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to provide an update on its on-going drill program at Granada. This release contains drill results from the 100-series part 2, near-surface drill program targeting Vein 1.
Highlights:
- 2.39 g/t gold over 29m in hole GR-20-111 from 0.0 to 29.0m
- 7.72 g/t gold over 4.5m in hole GR-20-112 from 31.0 to 35.5m
- 7.29 g/t gold over 5.02m in hole GR-20-117 from 49.21 to 54.23m
The Company has now drilled a total of 9321.38 meters of the drill program (as of December 15th, 2020) of the current 12,000-meter program with 2 drills turning on site. This release represents 457 m of the program.
ASSAY RESULTS
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-111 | 0.00 | 29.00 | 29.00 | 2.39 |
including | 3.00 | 7.50 | 4.5.00 | 3.59 |
including | 17.00 | 27.50 | 10.50 | 3.86 |
including | 17.00 | 18.50 | 1.50 | 7.96 |
GR-20-112 | 22.00 | 37.0 | 15.00 | 3.2 |
including | 31.00 | 35.50 | 4.50 | 7.72 |
including | 32.50 | 34.00 | 1.50 | 17.55 |
GR-20-113 | 3.50 | 15.50 | 12.00 | 0.53 |
GR-20-114 | 6.000 | 9.00 | 3.00 | 0.69 |
including | 6.0 | 7.50 | 1.50 | 1.2 |
GR-20-115 | 2.85 | 4.50 | 1.65 | 0.99 |
and | 33.00 | 40.22 | 7.22 | 0.73 |
including | 33.00 | 34.00 | 1.00 | 3.68 |
GR-20-116 | 11.90 | 19.00 | 7.10 | 0.71 |
including | 15.80 | 17.50 | 1.70 | 2.1 |
GR-20-117 | 18.00 | 27.0 | 9.00 | 0.46 |
and | 49.21 | 54.23 | 5.02 | 7.29 |
including | 50.13 | 51.63 | 1.50 | 22.31 |
including | 50.63 | 51.13 | 0.50 | 37.1 |
including | 57.50 | 59.05 | 1.55 | 4.67 |
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method. Other assays results are still pending. The Company is being impacted by longer-than-expected turnaround time (TAT) of analytical results due to COVID-19 and extensive workload at ALS laboratory.
The 100-series holes were drilled to intersect the vein extension uncovered by stripping and to follow the high-grade corridor. Holes GR-20-111 to GR-20-113 are drilled within the vein structure. Holes GR-20-114 to GR-20-117 are vertical holes drilled to intersect the mineralized vein structures. Typical true thickness of the number 1 vein is 1.5 to 6 meters. The halo effect around vein 1 has been measured up to 20 meters true thickness with numerous mineralized veinlets hosting native gold. It has been estimated, based on metallurgical testing, that close to 50 percent of the gold is in native form and will be recovered from these veinlets.
Frank J. Basa, P.Eng., President and CEO., “The short-hole drill program, with its 3 objectives, has succeeded in defining further extension of the high-grade zones eastward, near surface. As well, we intersected the mineralized structure to measure total thickness immediately north of the stripping of the vein extension to the west of bulk zone. Moreover, the other holes have shown the extension to the NNE of the high-grade zone in the mineralized structure. The more we drill, the more gold we find. The typical Abitibi Gold Belt structure scenario is that there is gold mineralization in several large and smaller extensive, planar structures. Within the larger structures, there are zones of very high concentration of gold with visible gold observed and measured in the core. It appears that this enrichment is demonstrated on the Granada Property in the eastern blocks of the many senestral NNE faults – as seen in hole GR-20-110. We are pleased to have intersected high-grade structures in GR-20-117 where it has intersected the continuity of the very high-grade bulk zone at Granada – evidenced by the presence of visible gold.”
Vein 1 stripping and drill program
The stripping has confirmed the continuation of the mineralized structure from historical Pit #1 for up to 350m East-West. Pit #1, mined in 1994, extracted 87,311 tonnes grading 5.17 g/t Au (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1).
Earlier this year, (Press Release August 11, 2020) the Company processed, by conventional gravity concentration, a large 1220-kilgram grab sample taken over a 3-meter strike length in this stripped area, resulting in the recovery of 55.6 g/t native gold. The native gold component for the Granada Gold Mine has been defined to represent an average of 50% of the recoverable gold (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1). The gold-bearing sulphides were not recovered in that test.
Qualified person
The technical information in this news release has been prepared and 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.
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The screen assay method is selected by the geologist when samples contain visible gold. The drill program, 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.
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.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP Maxime Dupéré Geo. & Allan Armitage P. Geo “Technical Report on the Granada Gold Project Mineral Resource Estimate, Rouyn-Noranda, Quebec, Canada “stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
* Pit constrained mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell.
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
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.
For further information: 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
Related Links
- Published in Granada Gold Mine, Mining, News Home
Granada Hits 3.66 g/t Gold Over 26.5 Meters Near Surface Including 13.49 g/t Over 4 Meters & 29.8 g/t Over 1.5 Meters
Granada Gold Mine Inc. (TSXV: GGM) (the “Company” or “Granada”) is pleased to provide an update on its on-going drill program at Granada. This release contains drill results from the 100-series near-surface drill program targeting Vein 1.
Highlights:
- 3.66 g/t gold over 26.5m in hole GR-20-110 from 35.2 to 61.7m
- 5.25 g/t gold over 3.0m in hole GR-20-109 from 60.0 to 63.0m
- 2.62 g/t gold over 6.42m in hole GR-20-101 from 34.5 to 40.5m
The Company has now drilled a total of 8482 meters of the drill program (as of October 5th, 2020) of the current 12,000-meter program with 2 drills turning on site. This release represents 659.8 m of the program.
ASSAY RESULTS
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-101 | 18.00 | 22.50 | 4.50 | 1.10 |
And | 34.50 | 40.50 | 6.00 | 2.62 |
including | 36.50 | 37.00 | 0.50 | 6.42 |
GR-20-102 | 33.20 | 34.70 | 1.50 | 0.42 |
GR-20-103 | 19.30 | 24.00 | 4.70 | 0.80 |
And | 61.50 | 67.50 | 6.00 | 1.22 |
GR-20-104 | 12.00 | 19.80 | 7.8 | 0.52 |
GR-20-105 | 12.00 | 15.40 | 3.40 | 1.49 |
And | 78.70 | 83.20 | 4.50 | 1.19 |
GR-20-106 | 30.00 | 31.50 | 1.50 | 0.26 |
GR-20-107 | 4.50 | 12.00 | 7.50 | 0.53 |
GR-20-108 | 5.70 | 7.20 | 1.50 | 0.23 |
GR-20-109 | 7.00 | 39.00 | 32.0 | 1.01 |
including | 7.00 | 18.00 | 11.00 | 1.64 |
including | 21.00 | 27.00 | 6.00 | 1.76 |
including | 31.50 | 39.00 | 7.50 | 0.69 |
And | 60.00 | 63.00 | 3.00 | 5.25 |
GR-20-110 | 8.20 | 9.20 | 1.00 | 3.49 |
And | 35.20 | 61.70 | 26.50 | 3.66 |
including | 35.20 | 39.20 | 4.00 | 13.49 |
including | 36.70 | 38.20 | 1.50 | 29.80 |
including | 49.70 | 52.70 | 3.00 | 8.85 |
including | 51.20 | 52.70 | 1.50 | 18.45 |
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method. Other assays results are still pending. The Company is being impacted by longer than expected turnaround time (TAT) of analytical results due to COVID-19 and extensive work load at ALS laboratory. |
The 100-series holes were drilled to intersect the vein uncovered by stripping and to follow the high-grade corridor. Holes GR-20-101 to GR-20-105 are vertical holes drilled to intersect the mineralized vein structure.
The stripping has confirmed the continuation of the mineralized structure in historical Pit #1 for up to 350m East-West. Pit #1, mined in 1994, extracted 87,311 tonnes grading 5.17 g/t Au (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1).
Earlier this year, (Press Release August 11, 2020) the Company processed by conventional gravity concentration, a large 1220-kilgram grab sample taken over a 3-meter strike length in this stripped area, resulting in the recovery of 55.6 g/t native gold where the native gold component of has been defined for the Granada Gold Mine to represent an average of 50% of the recoverable gold (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1). The gold-bearing sulphides were not recovered.
Holes GR-20-106 to GR-20-110 are drilled within the vein structure to the West of the GR-19-A which intersected 11.45 g/t Au over 33 meters (Granada Gold Mine, Press Release January 9, 2020).
Frank J. Basa, P.Eng., “The short-hole drill program, with its 3 objectives, has succeeded in defining further extension of the high-grade zones eastward near surface. As well, we intersected the mineralized structure to measure total thickness immediately north of the stripping of the vein extension to the west of bulk zone. Moreover, the other holes have shown the extension to the NNE of the high-grade zone in the mineralized structure. The more we drill, the more we find gold. The typical Abitibi Gold Belt structure scenario is that there is gold mineralization in several large structures and smaller structures, and within these larges structures there are zones of very high concentration of gold where visible gold is observed and measured in the core within these extensive planar structures. It appears that this enrichment shows on the eastern blocks of the many senestral NNE faults – like GR-20-110. We are looking forward to similar assay results in GR-20-117 where it has intersected the continuity of the very high-grade bulk zone at Granada evidenced by the presence of visible gold.”
As noted, assay results from other holes have not yet been received but will be disclosed after they are validated and interpreted. See drillhole location map further down in this press release for more details. The table represents the characteristics of the drill holes of this press release.
DRILL HOLE LOCATION DATA
Hole ID | UTME | UTMN | Elevation | Azimuth | Dip | Length (m) |
GR-20-101 | 647001.0 | 5338105.1 | 315.40 | 0.0 | -89.8 | 75 |
GR-20-102 | 646981.4 | 5338105.5 | 315.62 | 0.0 | -90.0 | 63 |
GR-20-103 | 646966.0 | 5338103.7 | 315.44 | 0.0 | -90.0 | 75 |
GR-20-104 | 646951.6 | 5338102.4 | 316.88 | 0.0 | -87.6 | 75 |
GR-20-105 | 646933.8 | 5338105.1 | 316.14 | 0.0 | -89.4 | 141 |
GR-20-106 | 646929.6 | 5338090.7 | 315.09 | 20.9 | -51.0 | 33 |
GR-20-107 | 646941.0 | 5338089.5 | 314.64 | 33.6 | -55.4 | 30 |
GR-20-108 | 646941.2 | 5338089.8 | 314.66 | 34.5 | -45.5 | 26 |
GR-20-109 | 646957.9 | 5338087.4 | 314.93 | 26.6 | -46.1 | 63 |
GR-20-110 | 646980.6 | 5338081.0 | 314.60 | 19.2 | -50.5 | 79 |
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.
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The screen assay method is selected by the geologist when samples contain visible gold. The drill program, 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.
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.
Pit-Constrained Mineral Resources at Granada disclosed on February 13th, 2019 Press Release prepared by SGS independent QP Maxime Dupéré Geo. & Allan Armitage P. Geo “Technical Report on the Granada Gold Project Mineral Resource Estimate, Rouyn-Noranda, Quebec, Canada “stand at:
Category | Tonnes | Grade (g/t AU) | Contained Gold (oz.) |
Measured | 12,637,000 | 1.02 | 413,000 |
Indicated | 9,630,000 | 1.13 | 349,000 |
Measured & Indicated | 22,267,000 | 1.06 | 762,000 |
Inferred | 6,930,000 | 2.04 | 455,000 |
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
* Pit constrained mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell.
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
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 to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/21/c1826.html
Contact:
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