Granada Hits From Surface, High-Grade Material of 7.67 g/t Au Over 15 Meters in Drill Hole GR-19-C on the Extended LONG Bars Zone
Granada Hits From Surface, High-Grade
Material of 7.67 g/t Au Over 15 Meters in Drill
Hole GR-19-C on the Extended LONG Bars
Zone
ROUYN NORANDA, QC
,
Nov. 6, 2019
/CNW/ - Granada Gold Mine Inc. (TSXV: GGM) (the
"Company" or "Granada") is providing ongoing results from its latest drill program at its 100% owned
Granada
gold deposit in
Rouyn-Noranda
. GR-19-C intersected a high-grade zone with 7.67 grams
per tonne gold over fifteen meters of core length from near surface on the extended LONG Bars
zone. Results are pending for GR-19-A, for high-grade verifications.
Highlights and key findings:
Hole Name
from
to
length
gold
GR-19-C
18.5
33.5
15 meters
7.67 grams per tonne
GR-19-B
0.0
6.0
6.0 meters
3.41 grams per tonne
The mineralized zone is composed of smoky quartz veins adjacent to a porphyry dyke intruded by
multiple quartz veinlets south of the altered sheared conglomerate.
"These preliminary results highlight the potential of near-surface, high-grade mineralization and
continue to support higher grades that are in line with historic production grades of 8 to 10 grams
per tonne gold when it was mined in the 1930s from the two shafts. The Company's earlier drill
programs were designed to define structures. Drill holes intersected the mineralized structure
perpendicularly. This recent program was designed to unlock the higher-grade potential of
mineralized intersections near surface identified from previous drill holes," said
Frank J. Basa
,
P.Eng.,
Granada's
President and Chief Executive Officer.
Qualified Person
The technical information in this news release has been reviewed by
Claude Duplessis
, P.Eng.,
GoldMinds Geoservices Inc. member of Quebec Order of Engineers and a qualified person in
accordance with National Instrument 43-101 standards.
Quality Control and Reporting Protocols
Assays are uncut except where indicated. True length is not known at present time.
A detailed table of drill results will be disclosed once received, validated and interpreted.
All NQ core assays reported were obtained by either one-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, Que.
,
Thunder Bay, Ont.
,
Sudbury, Ont.
, or
Vancouver, B.C.
The screen assay method is
selected by the geologist when samples contain visible gold. All samples are also analyzed for multi-
elements, using an aqua regia-ICP-AES (inductively coupled plasma atomic emission spectroscopy)
method at ALS Laboratories. The drill program, quality assurance/quality control (QA/QC) and
interpretation of results are 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 12
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 its Granada Gold Property near
Rouyn-Noranda,
Quebec
which lies on the highly prolific Cadillac Break -the source of more than 75 million plus
ounces of gold production in the past century, and which cuts through the north part of the
Granada
property. The property includes the former Granada Gold Mine which produced more than 50,000
ounces of gold at 10 grams per tonne gold from vein zones 1, 2 and 5 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 LONG Bars zone which trends 2 kilometers
east-west over a potential 5.5 kilometers of gold-mineralized structure. Drill intercepts have been at
close to perpendicular to the vein zones. Drilling was focussed on defining lateral and depth extent
of the structures along an East-West trend. The mineralized package has been determined to reach
up to
400m
thick and contains between 9 and 22 distinct vein zones.
Three open pit bulk samples have been taken historically: in 1994, by KWG Resources Inc.
subsidiary Granada Resources, 87,311 tonnes grading 5.15 g/t gold from Vein 1; in 1996, by KWG
Resources Inc. subsidiary Granada Resources, 22,095 tonnes grading 3.46 g/t gold from Vein 2;
and in 2007 by Gold Bullion Development Corp (now Granada Gold Mine Inc.), 32,000 tonnes
grading 1.62 g/t gold from Vein 2A.
The Company has a 43-101 resource and is in possession of all required 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 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/November2019/06/c8616.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 07:30e 06-NOV-19