Granada Gold Plans 2019 Activities, Makes Management Changes
Granada Gold Plans 2019 Activities, Makes
Management Changes
ROUYN-NORANDA, QC
,
Feb. 12, 2019
/CNW/ - Granada Gold Mine (TSX.V: GGM) ("Granada
Gold" or the "Company") is pleased to announce the appointment of
Eric Owens
as Company
President.
Frank J. Basa
will remain as CEO and Chairman of Granada Gold.
Dr. Owens, PGeo, brings 25-plus years in the mining exploration industry, principally in
North
America
and
Latin America
, with, amongst others, Newmont Mining, BHP Minerals, and Echo Bay
Exploration. His experience has been focused on the discovery and development of gold and base
metal deposits. Most recently, he had been the President and CEO of Alexandria Minerals
Corporation, where he built gold resources in
Val d'Or, Quebec
, and other areas in the Canadian
Shield. He holds a PhD in geology from
Western University
.
Frank J. Basa
, CEO of Granada Gold, stated: "We are pleased to have Eric on board with us as we
move down our dual path of growth and development. He brings strong geological, management and
Abitibi experience, and will be a great addition to our team by helping us guide and run our
activities."
In other matters, the Company is advancing on plans for its 2019 activities, which will include both
exploration and development work. On the development front, the Company intends to further
evaluate the economic and engineering viability of the 2014 "Rolling Start" NI 43-101 Pre-Feasibility
Study, and is currently working through proposals for such studies.
Exploration activities will follow-up on work completed in 2018. Encouraging results from new gold
zones to the north of, east of, and below the recently announced resource estimate (see Press
Release
December 7, 2018
). Recent drill results from the area north of the Current Resources
include the following intersections (Press Release
January 8, 2019
):
8.39 g/t Au over 6 meters in hole GR-18-03;
Including 12.41 g/t Au over 4.0 meters.
Including 45.7 g/t Au over 1.0 meter.
5.45 g/t Au over 4 meters in hole GR-18-04;
Including 13.7 g/t Au over 1.5 meters.
Including 37.3 g/t Au over 0.5 meter.
8.15 g/t Au over 3 meters in hole GR-18-01
Including 23.3 g/t Au over 1.0 meter.
Also in 2018, positive results came from an airborne magnetic survey over the eastern claim group,
as well as from a trenching program near the Aukeko shaft, located 2 km east of the Current
Resources, which intersected up to 8.49 g/t gold over
0.5 m
(Press Release,
August 23, 2018
).
In 2019, exploration activities are aimed at following-up on these results: building on the Current
Resources by testing areas in close proximity to the Current Resources (below and along strike), as
well as follow-up drilling of recent exploration results from new targets. Activities will include
geophysical work and drilling, with focus on shallow to medium depth targets.
Qualified Persons
Merouane Rachidi P. Geo
., Ph.D., a geological, environmental and mining consultant and
Claude
Duplessis
, P. Eng., of GoldMinds Geoservices Inc., are qualified persons in accordance with
National Instrument 43-101. Both have both reviewed and approved the contents of this news
release.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. is continuing to develop the Granada Gold Property near
Rouyn-Noranda,
Quebec
. The property includes the former
Granada
gold mine which produced more than 50,000
ounces of gold at 10 grams per tonne gold in the 1930's before a fire destroyed the surface
buildings. Approximately 120,000 meters of drilling has been completed to date on the property,
focused mainly on the extended LONGBARS zone which trends 2 kilometers east west over a
potential 5.5 kilometers mineralized structure. The highly prolific
Cadillac Trend
, the source of 50
million plus ounces of gold production in the past century, cuts right through the north part of the
Granada
property on a line running from
Val-d'Or
to
Rouyn-Noranda Quebec
.
The Company is in possession of all 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, capable of
producing up to 675,000 tonnes of ore over a 3-year period of time. Additional information is
available at
www.granadagoldmine.com
.
"Frank J. Basa"
Frank J. Basa P. Eng
.
Chief Executive Officer and Chairman
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/February2019/12/c6468.html
%SEDAR: 00004087E
For further information:
Eric Owens, PGeo, President, at 1-416-509-5385 or Wayne
Cheveldayoff, Corporate Communications, at 416-710-2410, or [email protected]
CO: Granada Gold Mine Inc.
CNW 07:30e 12-FEB-19