Granada Gold video webcast of CEO Frank Basa outlining drilling plans/resource update during the Nov. 2-3 Precious Metals Europe Conference
Granada Gold video webcast of CEO Frank Basa outlining drilling plans/resource update during the Nov. 2-3 Precious Metals Europe Conference
Granada Gold Mine CEO Frank Basa participated in the Nov. 2-3, 2020 Precious Metals Summit Europe Virtual Investor Conference, during which he outlined GGM’s plans for its gold deposit in northwestern Quebec.
Granada currently has 2 rigs drilling at the property to extend high-grade areas in, around and below the pit, with drill results to be announced in the weeks ahead along with an updated resource estimate in 1H/21.
Link to Frank Basa’s webcast presentation during the conference:
https://wsw.com/webcast/
Link to Granada Gold’s corporate presentation on our website:
https://www.granadagoldmine.
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.
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.
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