Granada GOLD Hits 7.63 G/T GOLD over 5 Meters Including 53.5 G/T over 0.65 Meters During Infill Drill Program
2875 Ave Granada
Rouyn Noranda, Québec J9Y 1Y1
Tel : 819-797-4144 / Fax: 819-792-2306
GRANADA GOLD HITS 7.63 g/t GOLD OVER 5 METERS INCLUDING 53.5 g/t
OVER 0.65 METERS DURING INFILL DRILL PROGRAM
August 11, 2021 , Rouyn Noranda, Quebec, Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF))
(Frankfurt: B6D) (the “Company” or “Granada”) is pleased to announce additional drill results from
its on-going drill program at its Granada Gold Mine Project near Rouyn-Noranda along the prolific
Cadillac Break in northwestern Quebec’s Abitibi region.
Drilling Highlights:
GR-16-14W1 intersected 2.82 g/t over 1.0 m at 852.65m
GR-16-14W2 intersected 4.26 g/t over 1.0m at 907.85m
GR-16-14W3 intersected 7.63 g/t over 5.0 m at 886.0 m
GR-21-01 intersected 7.55 g/t over 1.0 m at 314.75 m
GR-21-02 intersected 7.91 g/t over 1.0 m at 363.85 m
GR-21-12 intersected 4.68 g/t over 1.25 m at 457.45 m
“The objective was to drill under the pit-constrained resource and at depth – in order to increase
the quantity and quality of the mineral resources. These latest drill results – from new holes and
wedges off existing holes – show intersections of gold of economic grade near the surface, under the
pit-constrained resource and at depth. This supports the view that a significant increase in our next
resource update is possible,” said Frank J. Basa, P.Eng., President and CEO.
This news release presents available partial results of diamond drill wedge holes off GR-16-14 as
well as infill holes between GR-11-362 and GR-11-393. The mineralized structures were intersected
at various depth in each wedge showing the continuity of the structures with gold grade variability,
confirming the continuation of mineralized veins.
Holes GR-21-01 and GR-21-02 were drilled to bridge a 100m gap between GR-11-362 and GR-11-393
under the pit-constrained resource. Partial results are disclosed. GR-21-12 was drilled to identify
continuity of gold zones on the eastern edge of the orphan tailings.
Table 1: Structures intersected assay results
Hole ID From (m) To (m) Length (m) Gold (g/t) Objective
GR-16-14W1 667.55 668.05 0.50 2.76 Extends under Pit-
Constrained Resource
AND 852.65 853.65 1.00 2.82 idem
GR-16-14W2 665.30 666.42 1.12 0.42 idem
AND 690.00 694.00 4.00 1.38 idem
AND 808.50 811.20 2.70 1.25 idem
AND 864.00 865.00 1.00 3.85 idem
AND 907.85 908.85 1.00 4.26 idem
GR-16-14W3 712.60 714.00 1.40 7.84 idem
AND 826.50 827.50 1.00 1.14 idem
AND 849.00 850.45 1.45 1.22 idem
AND 886.00 891.00 5.00 7.63 idem
Including 888.00 888.65 0.65 53.50 idem
GR-21-01
191.25
195.40
4.15
1.62
Infill between GR-11-
362 & GR-11-393
Including 193.40 194.40 1.00 3.82 Idem
AND 223.90 227.05 3.15 0.81 Idem
AND 236.00 240.10 4.10 1.54 Idem
Including 236.00 237.00 1.00 4.69 Idem
AND 252.10 253.10 1.00 2.20 Idem
AND 314.75 318.22 3.47 2.32 Idem
Including 314.75 315.75 1.00 7.55 Idem
AND 341.40 342.50 1.10 4.53 Idem
GR-21-02 361.10 364.85 3.75 2.61 Idem
Including 363.85 364.85 1.00 7.91 Idem
GR-21-12 331.10 334.50 3.40 1.05 East of Orphan Tailings
AND 367.35 369.00 1.65 1.11 Idem
AND 379.65 382.95 3.30 1.52 Idem
AND 456.00 459.85 3.85 1.77 Idem
Including 457.45 458.70 1.25 4.68 Idem
Lengths are core length, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic
method.
Table 2: DRILL HOLE LOCATION DATA – Wedges inserted at 424m depth and above
Hole UTME UTMN Elevation Azimuth Dip Length (m)
GR-16-14W1 647516.8 5338875.7 298.96 191.5 -65.5 906
GR-21-01 646996.6 5338305.4 309.47 186.0 -80.0 447
GR-21-02 646996.6 5338305.4 309.47 196.0 --65.0 429
GR-21-12 646743.0 5338364.0 315.0 203 -85.0 474
The 2021 Exploration program
The 2021 drill program is aiming to fill the gaps allowing additional mineral resources to be
developed while simultaneously testing the continuity of the structures with the 200-series holes.
In addition, holes are being drilled to verify the extension of structure and gold mineralization
under the orphan tailings area.
The drill program has completed 30,000 meters to date and will be paused to give the technical
team the time to evaluate and assimilate all existing data as well as to incorporate the laboratory
results which are lagging due to ongoing delays in turnaround times across the industry.
Qualified person
The technical information in this news release has been reviewed 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.
Quality Control and Reporting Protocols
All NQ core assays reported for Wedges of 2020 holes were obtained by either 1-kilogram screen fire
assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at SGS
Laboratory in Vancouver where sample preparation is done in Val d’Or, Québec. The 2021 assay results
are from ALS laboratory in Val d’Or. The screen assay method is selected by the geologist or geological
engineer when samples contain visible gold. The drill program, Quality Assurance/Quality Control
(“QA/QC”) 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 20
samples for QA/QC purposes for this program in addition to the lab QA/QC.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec.
Approximately 150,000 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.
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 for both the Open Pit Portion and
the Underground Portion
1. 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%
2. Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell
3. Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes
“Frank J. Basa”
Frank J. Basa P. Eng.
President and Chief Executive Officer
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
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.