Business
Granada 55.56 g/t over 3 meters from 1220 kg surface grab sample. Adds second drill
ROUYN NORANDA, QC, Aug. 11, 2020 /CNW/ - Granada Gold Mine (TSX.V: GGM) ("Granada Gold" or the "Company") is pleased to provide an update of its 2020 High-Grade
About this update from Granada Gold Mine Inc.
[{"type":"text","content":" ROUYN NORANDA, QC, Aug. 11, 2020 /CNW/ - Granada Gold Mine (TSX.V: GGM) (\"Granada Gold\" or the \"Company\") is pleased to provide an update of its 2020 High-Grade exploration and bulk sampling program. Highlights: Grab sample returns 55.6 grams per tonne native gold from 1220 kilograms of mineralized material taken from surface over a 3-meter strike length on Vein No 1 structure where diamond drill hole GR-19-A intersected 11.45 g/t gold from 0 to 33 metres core length (refer to January 9, 2020, news release). Sample was processed at Temiskaming Testing Labs in Cobalt, Ontario. Conventional gravity concentration was used and therefore only native gold was recovered and quantified. The gold-bearing sulfides were not recovered. Native gold component has been defined for the Granada Gold Mine to represent an average of 50% percent of the recoverable gold from the mineralized deposit (43-101 Technical Report dated February 13, 2019 on the Granada Gold Project Mineral Resource Estimate, Rouyn Noranda, Quebec authored by the Qualified persons, Allan Armitage, Ph. D.., P. Geo and Maxime Dupere, B.SC., Geo both of SGS Canada Inc. – Section 13.1). Second drill rig focussing on the high-grade Vein No 1 structure. Stripping to the West to continue along strike. The mineralized structure has been traced on surface for over 115 meters on east-west trend by stripping. The structure extends over 500 meters when we connect the pierce points with the drill holes. Frank J. Basa, P.Eng., Granada Gold's President and CEO, comments: \"Historically, the mill grades at Granada Mine were higher than drill grades. This is common with high-grade native gold concentration deposits on the Cadillac Trend - as it is with this deposit. The 1220-kg sample returned 4 times the drill grade of the core – using only the native gold component.\" Frank J. Basa, P.Eng., further comments: \"A bulk sample is to be taken at this location to further quantify the grade of the mineralized material. The company is awaiting quotes from local contractors to take this bulk sample. The bulk sample is to be processed at Temiskaming Testing Labs, Cobalt, Ontario.\" Historical Recap: Historic underground production between 1930 and 1935, from 2 shafts had an average grade of 9.7 grams/tonne gold and 1.5 grams/tonne silver from 164,816 tonnes of mineralized material (51,476 ounc...