March 2, 2020 (Source) – Granada Gold Mine Inc. (TSXV: GGM) (the “Firm” or “Granada”) has intersected two near-surface mineralized zones grading 11.53 grams per tonne gold over 2.9 meters at core size 65.85 – 68.75 meters and a couple of.61 grams per tonne over 24.7 meters at core size 25.5 – 50.2 meters in gap GB-19-SA. This drill gap is 77 meters to the south of GR-19-A which intersected 11.45 grams per tonne over 33 meters core size (see Granada information launch dated January ninth, 2020) within the newest drill program at its 100%-owned Granada gold deposit in Rouyn-Noranda. The A zone is 6 meters true width. The persevering with near-surface drilling program has begun to unlocked the superb potential for outlining additional high-grade intersections inside the not too long ago explored two-kilometer LONG Bars Zone of the five-and-a-half-kilometer Granada Shear zone which developments East-West on the property.
Two extra drill holes from the 450-meter drill program additionally intersected near-surface high-grade mineralization from the current 50-meter on-strike stripping program which uncovered an enormous quartz zone exposing robust veining and visual gold on floor. Drill gap GR-19-WB, collared 19 meters Northwest from GR-19-A, intersected 4.83 grams per tonne over 6 meters at core size of 16-22 meters and drill gap GR-19-G, 240 meters East-Southeast from GR-19-A, intersected two zones grading 2.82 grams per tonne over 6.65 meters at a core size of 40.5-46.75 meters and a couple of.28 grams per tonne over 5 meters at a core size of 68-73 meters. The B and G zones are 4.5 meters and Four meters true width respectively.
In 1994, Granada Gold Mine Inc. extracted a bulk pattern of 87,311 tonnes from floor grading 5.17 g/t gold from Vein 1 containing 451,397.87 grams (13,167.97 troy ounces) gold. The present drill program is east of, and on strike with Pit 1 which was taken from East-West-trending Vein 1. This current drilling confirms the extension of Vein 1 from Pit 1 for 500 meters east to gap GR-19-E intersecting 2.Zero meters grading 12.three g/t Au (see firm press launch dated October 15, 2019). The Vein 1 zone is open to the east and is inside the 5.5-kilometer East-West mineralized construction.
Drill and Bulk Sampling Program 2019-2020:
Granada continues to work with one drill on drilling near-surface high-grade mineralized zones inside the 350-meter large mineralized construction which developments East-West for five.5 kilometers. The corporate has drilled 90,000 meters to outline the East-West construction over a 2-kilometer strike size. It intercepted a number of high-grade zones in the course of the drill program. Solely 20 % of the outlined mineralized construction has been explored.
Granada shall be enterprise a mini bulk pattern program of 50 to 500 tonnes within the second quarter of this yr.
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The corporate has retained the drilling companies of Multi-Drilling primarily based in Rouyn-Noranda. This system was underneath supervision of GoldMinds Geoservices technical crew.
Certified particular person
The technical info on this information launch has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. member of Québec Order of Engineers and a professional particular person in accordance with Nationwide Instrument 43-101 requirements.
High quality Management and Reporting Protocols
All NQ core assays reported had been obtained by both 1-kilogram display screen fireplace assay or normal 50-gram fire-assaying-AA (Atomic Absorption) end or gravimetric end at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Columbia. The display screen assay methodology is chosen by the geologist when samples include seen gold. All samples are additionally analyzed for multi-elements, utilizing an Aqua Regia-ICP-AES methodology at ALS Laboratories. The drill program, High quality Assurance/High quality Management (“QA/QC”) and interpretation of outcomes is carried out by certified individuals using a QA/QC program in keeping with NI 43-101 and business finest practices. Requirements and blanks are included with each 12 samples for QA/QC functions for this program along with the lab QA/QC.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property close to Rouyn-Noranda, Quebec. Roughly 120,000 meters of drilling has been accomplished up to now on the property, targeted primarily on the prolonged LONG Bars zone which developments 2 kilometers east-west over a possible 5.5 kilometers of mineralized construction. The extremely prolific Cadillac Break, the supply of greater than 75 million plus ounces of gold manufacturing up to now century, cuts by means of the north a part of the Granada property.
Pit-Constrained Mineral Sources at Granada disclosed on February 13th, 2019 Press Launch ready by SGS impartial QP stand at:
|
Class |
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 sources which aren’t mineral reserves shouldn’t have demonstrated financial viability. An Inferred Mineral Useful resource has a decrease stage of confidence than that making use of to a Measured and Indicated Mineral Useful resource and should not be transformed to a Mineral Reserve. It’s moderately anticipated that almost all of Inferred Mineral Sources might be upgraded to Indicated Mineral Sources with continued exploration.
+ Open pit mineral sources are reported at a cut-off grade of 0.Four g/t Au inside a conceptual pit shell. Minimize-off grades are primarily based on a gold worth of US$1,300 per ounce, a overseas alternate charge of US$0.76, and a gold restoration of 95%.
The Granada Shear Zone and the South Shear Zone incorporates, primarily based on historic detailed mapping in addition to from present and historic drilling, as much as twenty-two mineralized buildings trending east-west over 5 and half kilometers. Three of those buildings had been mined traditionally from two shafts and two open pits. Historic underground grades had been eight to 10 grams per tonne gold from two shafts right down to 236 m and 498 m with open pit grades from 5 to three.5 grams per tonne gold
The Firm is in possession of all mining permits which might be required to start the preliminary mining part, generally known as the “Rolling Begin”, which permits the corporate to mine as much as 550 tonnes per day. Further info is accessible at www.granadagoldmine.com.
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Government Officer
Neither the TSX Enterprise Trade nor its Regulation Service Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Trade) accepts accountability for the adequacy or accuracy of this launch. This information launch might include forward-looking statements together with however not restricted to feedback relating to the timing and content material of upcoming work packages, geological interpretations, receipt of property titles, potential mineral restoration processes, and so forth. Ahead-looking statements deal with future occasions and situations and due to this fact, contain inherent dangers and uncertainties. Precise outcomes might differ materially from these presently anticipated in such statements.
