Granada Gold Mine Inc. (TSXV: GGM; OTC: GBBFF; Frankfurt: B6D) CEO Frank Basa, P.Eng. reviewed the history of the Granada Gold Project along the prolific Cadillac Trend in Quebec and the recently revised plans to focus on high-grade open-pit and underground exploration and development of the Granada Project in a video interview conducted by Matthew Gordon of CRUX Investor.
Here is the link to the 26-minute video: https://youtu.be/9TzcQslJcXQ
Granada’s resource report was revised to a higher grade (2 g/t Au open-pit and 4 g/t Au underground) in a 43-101 technical report published earlier this year. (See below)
A 120,000-meter drill program is currently underway with 3 drills turning on the property and numerous news releases on drill results expected in the months ahead.
The company recently also unexpectedly discovered a rare earth and alkali metals deposit above the underground gold vein structure at the property and is doing further work to determine how big this deposit is, the key minerals in it and the deposit’s potential value. Early indications are that rubidium, an alkali metal, is particularly abundant it, which is unusual for the typical rare earth deposits being worked on around the world.
Link to Granada’s investor presentation:
https://granadagoldmine.com/site/assets/files/2657/granada_gold_presentation_july_5-_2021.pdf
Link to recent Granada news releases:
https://granadagoldmine.com/en/news/2021/
Link to the March 15, 2021 43-101 report:
https://granadagoldmine.com/site/assets/files/2640/granada_gold_project_2021_43101_technical_report_for_gr.pdf
Please contact us with any questions you may have.
Wayne
Wayne Cheveldayoff
Corporate Communications
Canada Silver Cobalt Works Inc. (TSXV: CCW; OTCQB: CCWOF; Frankfurt: 4T9B)
Granada Gold Mine Inc. (TSXV: GGM; OTC: GBBFF; Frankfurt: B6D)
[email protected]
mobile 416-710-2410
www.granadagoldmine.com
www.canadasilvercobaltworks.com
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec. Approximately 140,000 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 |
- 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.
Neither the TSX Venture Exchange nor its Regulation Services 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 which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
CEO Frank Basa Outlines Plans for High-Grade Exploration of Gold and Rare Earths and Alkali Metals at Granada Project in Quebec
