Granada Gold Intersects 12.61 g/t Gold Over 16.5 Meters and 3.49 g/t Gold Over 30.5 Meters Within a Greater 1.33 g/t Gold Over 273.75 Meters Drill Hole From Surface
Granada Gold Intersects 12.61 g/t Gold Over
16.5 Meters and 3.49 g/t Gold Over 30.5 Meters
Within a Greater 1.33 g/t Gold Over 273.75
Meters Drill Hole From Surface
ROUYN NORANDA, QC
,
June 21, 2021
/CNW/ - Granada Gold Mine Inc. (TSXV: GGM) (the
"Company" or "Granada") is pleased to announce that the 200-series drill Hole GR-21-05, drilled at
330 meters west from the 100-series drill Hole GR-19-A, intersected significant gold mineralization
grading 11.45 g/t gold over 33 meters (Press Release
January 9
th
, 2020).
Highlights:
Gold at 1.33 g/t over core length of 273.75 meters from 4.5 meters to 278.25 meters from
surface
Gold at 12.61 g/t over core length of 16.5 meters from 37.5 meters to 54.0 meters from
surface
Gold at 3.49 g/t over core length of 30.50 meters from 79.0 meters to 109.5 meters from
surface
The 200- and 100-series drill holes are drilled down dip to maximize the intersection of native gold in
the mineralized veins. The 43-101 reports indicates that 50 percent of the gold in the resource is in
the massive, native, or visible form (SGS
May 2012
Technical Report, effective date
April 2, 2012
).
Table
1
: Details of the first highlight interval at 12.61 g/t Gold uncut
Hole ID
From (m)
To (m)
Length (m)
Gold (g/t)
GR-21-05
37.50
38.25
0.75
1.27
GR-21-05
38.25
39.00
0.75
8.69
GR-21-05
39.00
39.75
0.75
9.28
GR-21-05
39.75
40.50
0.75
23.52
GR-21-05
40.50
41.00
0.50
5.37
GR-21-05
41.00
41.50
0.50
3.78
GR-21-05
41.50
42.00
0.50
5.82
GR-21-05
42.00
42.50
0.50
6.84
GR-21-05
42.50
43.00
0.50
9.50
GR-21-05
43.00
43.50
0.50
62.08
GR-21-05
43.50
44.00
0.50
11.39
GR-21-05
44.00
44.50
0.50
16.53
GR-21-05
44.50
45.00
0.50
23.64
GR-21-05
45.00
45.50
0.50
3.84
GR-21-05
45.50
46.00
0.50
1.02
Hole ID
From (m)
To (m)
Length (m)
Gold (g/t)
GR-21-05
46.00
46.50
0.50
5.26
GR-21-05
46.50
47.00
0.50
31.26
GR-21-05
47.00
47.50
0.50
19.69
GR-21-05
47.50
48.00
0.50
1.06
GR-21-05
48.00
48.50
0.50
0.08
GR-21-05
48.50
49.00
0.50
0.14
GR-21-05
49.00
49.50
0.50
2.32
GR-21-05
49.50
50.00
0.50
16.55
GR-21-05
50.00
50.50
0.50
15.21
GR-21-05
50.50
51.00
0.50
9.56
GR-21-05
51.00
51.50
0.50
27.86
GR-21-05
51.50
52.00
0.50
13.55
GR-21-05
52.00
52.50
0.50
14.71
GR-21-05
52.50
53.00
0.50
7.83
GR-21-05
53.00
53.50
0.50
23.40
GR-21-05
53.50
54.00
0.50
13.55
Table
2
: Details of the second highlight interval at 3.49 g/t Gold uncut
Hole ID
From (m)
To (m)
Length (m)
Gold (g/t)
GR-21-05
79.00
80.00
1.00
3.87
GR-21-05
80.00
81.00
1.00
0.91
GR-21-05
81.00
81.75
0.75
6.40
GR-21-05
81.75
82.50
0.75
2.31
GR-21-05
82.50
83.50
1.00
1.86
GR-21-05
83.50
84.40
0.90
8.56
GR-21-05
84.40
85.10
0.70
1.26
GR-21-05
85.10
85.80
0.70
0.63
GR-21-05
85.80
86.60
0.80
2.09
GR-21-05
86.60
87.50
0.90
1.95
GR-21-05
87.50
88.50
1.00
5.30
GR-21-05
88.50
89.50
1.00
4.48
GR-21-05
89.50
90.50
1.00
5.99
GR-21-05
90.50
91.50
1.00
1.55
GR-21-05
91.50
92.50
1.00
0.04
GR-21-05
92.50
93.50
1.00
0.36
GR-21-05
93.50
94.55
1.05
0.16
GR-21-05
94.55
95.50
0.95
0.09
GR-21-05
95.50
96.50
1.00
0.16
GR-21-05
96.50
97.50
1.00
0.29
GR-21-05
97.50
98.50
1.00
3.51
GR-21-05
98.50
99.50
1.00
2.13
Hole ID
From (m)
To (m)
Length (m)
Gold (g/t)
GR-21-05
99.50
100.50
1.00
0.39
GR-21-05
100.50
101.50
1.00
0.60
GR-21-05
101.50
102.25
0.75
1.90
GR-21-05
102.25
103.00
0.75
7.40
GR-21-05
103.00
103.75
0.75
1.21
GR-21-05
103.75
104.30
0.55
0.31
GR-21-05
104.30
105.00
0.70
0.36
GR-21-05
105.00
105.55
0.55
10.57
GR-21-05
105.55
106.25
0.70
1.54
GR-21-05
106.25
107.00
0.75
2.31
GR-21-05
107.00
107.75
0.75
0.68
GR-21-05
107.75
108.50
0.75
2.75
GR-21-05
108.50
109.00
0.50
6.09
GR-21-05
109.00
109.50
0.50
66.54
This GR-21-05 hole crossed a zone previously intersected perpendicular to the vein in hole GR-09-
02 which assayed 3.95 g/t gold over 8.8 meters true thickness from 39.2 meters to 48.0 meters
downhole.
Table
3
: Coordinates of the hole
Hole
UTME
UTMN
Elevation
Azimuth
Dip
Length (m)
GR-21-05
646699
5338091
320
15
-47
278.25
Frank J. Basa
, P.Eng., President and CEO commented that, "The 200- and 100-series drill holes
better represent the grade of the mineralization in the veins by increasing the probability of
intersecting massive native gold drilling down dip versus drilling perpendicularly which best defines
the vein structure position."
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 were obtained by either 1-kilogram screen fire assay or standard 50-
gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i) ALS Laboratories in
Val
d'Or
, Québec,
Thunder Bay, Ontario
,
Sudbury, Ontario
or
Vancouver, British Columbia
. The screen
assay method is selected by the geologist 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, including 2 fully permitted
Mining Leases (BM-852 and BM-813), near
Rouyn-Noranda, Quebec
. Approximately 140,000
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.
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 a half kilometers. Three of these structures were mined historically from four
shafts and three 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 3.5 to 5 grams per tonne gold.
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 Between the Open Pit Portion
and the Underground Portion
Type
Category
Tonnes
Au (g/t)
Gold Ounces
In Pit
Measured
1
3,756,000
1.89
228,000
Indicated
1,357,000
2.55
111,000
Measured+Indicated
5,113,000
2.06
339,000
Inferred
34,000
11.29
12,000
Underground
Measured
37,000
4.22
5,000
Indicated
807,000
4.02
104,000
Measured+Indicated
844,000
4.03
109,000
Inferred
1,244,000
6.33
253,000
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
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
.
"Frank J. Basa"
Frank J. Basa P. Eng
.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services 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 which include, but are not
limited to, comments that involve future events and conditions, which are subject to various risks
and uncertainties. Except for statements of historical facts, comments that address resource
potential, upcoming work programs, geological interpretations, receipt and security of mineral
property titles, availability of funds, and others are forward-looking. Forward-looking statements
are not guarantees of future performance and actual results may vary materially from those
statements. General business conditions are factors that could cause actual results to vary
materially from forward-looking statements.
SOURCE
Granada Gold Mine Inc.
View original content:
http://www.newswire.ca/en/releases/archive/June2021/21/c2305.html
%SEDAR: 00004087E
For further information:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or Wayne
Cheveldayoff, Corporate Communications, at 416-710-2410 or [email protected]
CO: Granada Gold Mine Inc.
CNW 14:03e 21-JUN-21