Granada drills 2.9 m of 11.53 g/t Au at Granada
2020-03-02 11:38 ET – News Release
Mr. Frank Basa reports
GRANADA GOLD MINE CONTINUES TO INTERSECT HIGH-GRADE GOLD NEAR SURFACE WITHIN 500 METERS STRIKE LENGTH IN THE LONG BARS ZONE
Granada Gold Mine Inc. has intersected two near-surface mineralized zones grading 11.53 grams per tonne gold over 2.9 metres at core length 65.85 m to 68.75 m and 2.61 g/t over 24.7 m at core length 25.5 m to 50.2 m in hole GB-19-SA. This drill hole is 77 m to the south of GR-19-A, which intersected 11.45 g/t over 33 m core length (see Granada news release dated Jan. 9, 2020) in the latest drill program at its 100-per-cent-owned Granada gold deposit in Rouyn-Noranda. The A zone is six m true width. The continuing near-surface drilling program has begun to unlock the excellent potential for defining further high-grade intersections within the recently explored two-kilometre Long Bars zone of the five-and-a-half-kilometre Granada shear zone, which trends east to west on the property.
Two additional drill holes from the 450 m drill program also intersected near-surface high-grade mineralization from the recent 50 m on-strike stripping program, which uncovered a massive quartz zone exposing strong veining and visible gold on surface. Drill hole GR-19-WB, collared 19 m northwest from GR-19-A, intersected 4.83 g/t over six m at core length of 16 m to 22 m, and drill hole GR-19-G, 240 m east-southeast from GR-19-A, intersected two zones grading 2.82 g/t over 6.65 m at a core length of 40.5 m to 46.75 m and 2.28 g/t over five m at a core length of 68 m to 73 m. The B and G zones are 4.5 m and four m true width, respectively.
In 1994, Granada Gold extracted a bulk sample of 87,311 tonnes from surface grading 5.17 g/t gold from Vein 1 containing 451,397.87 grams (13,167.97 troy ounces) of gold. The current drill program is east of, and on strike with, Pit 1, which was taken from east-west trending Vein 1. This recent drilling confirms the extension of Vein 1 from Pit 1 for 500 m east to hole GR-19-E intersecting two m grading 12.3 g/t Au (see company press release dated Oct. 15, 2019). The Vein 1 zone is open to the east and is within the 5.5 km east-west mineralized structure.
Drill and bulk sampling program 2019-2020
Granada continues to work with one drill on drilling near-surface high-grade mineralized zones within the 350 m wide mineralized structure, which trends east to west for 5.5 km. The company has drilled 90,000 m to define the east-west structure over a two km strike length. It intercepted multiple high-grade zones during the drill program. Only 20 per cent of the defined mineralized structure has been explored.
Granada will be undertaking a mini bulk sample program of 50 to 500 tonnes in the second quarter of this year.
The company has retained the drilling services of Multi-Drilling based in Rouyn-Noranda. The program was under supervision of GoldMinds Geoservices Inc.’s technical team.
Qualified person
The technical information in this news release has been reviewed by Claude Duplessis, PEng, GoldMinds, member of Quebec 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 one-kilogram screen fire assay or standard 50-gram fire-assaying-AA (atomic absorption) finish or gravimetric finish at ALS Laboratories in Val d’Or, Que., Thunder Bay, Ont., Sudbury, Ont., or Vancouver, B.C. The screen assay method is selected by the geologist when samples contain visible gold. All samples are also analyzed for multielements, using an aqua regia inductively coupled plasma atomic emission spectroscopy method at ALS Laboratories. The drill program, quality assurance/quality control 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 12 samples for QA/QC purposes for this program in addition to the lab QA/QC.
About Granada Gold Mine Inc.
Granada Gold continues to develop the Granada gold property near Rouyn-Noranda, Que. Approximately 120,000 m of drilling has been completed to date on the property, focused mainly on the extended Long Bars zone, which trends two km east to west over a potential 5.5 km of mineralized structure.
We seek Safe Harbor.
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