Drill Program at Granada Gold Mine Begins on Near-Surface Mineralized Structures
Drill Program at Granada Gold Mine Begins on
Near-Surface Mineralized Structures
ROUYN-NORANDA, QC
,
Aug. 19, 2019
/CNW/ -
Granada Gold Mine Inc. (TSXV: GGM) (the
"Company" or "Granada") has commenced a drill program at the Granada Gold Mine property on
the Cadillac Break in
Quebec
.
Program Highlights:
Drilling within 150 meters of surface assessing near-surface mineralization within the two-
kilometer extended LONG Bars zone of the potential 5.5-kilometer long, east-west-trending
mineralized structure
Testing continuity of mineralized structures from surface
Assaying for gold, silver, cobalt, nickel and copper
Three surface-outcropping, mineralized structures have been defined. The drill program will be under
the supervision of GoldMinds Geoservices technical team who were on site in early August to
identify and spot the drill holes.
Qualified person
The technical information in this news release has been prepared 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.
Pit-Constrained Mineral Resources at
Granada
disclosed on
February 13
th
, 2019 Press Release
prepared by SGS independent QP stand at:
Category
Tonnes
Grade (g/t Au)
Contained Au (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.
+ Open pit mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit
shell. Cut-off grades are based on a gold price of
US$1,300
per ounce, a foreign exchange rate of
US$0.76
, and a gold recovery of 95%.
The Company is in possession of a mining permit 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/August2019/19/c9348.html
%SEDAR: 00004087E
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
CO: Granada Gold Mine Inc.
CNW 11:28e 19-AUG-19