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Granada Gold Mine Announces Preliminary Open Pit, In-Ground Values for Gold and Aggregate
(TheNewswire) Rouyn Noranda, Q.C., - TheNewswire - July 23, 2024 - Granada Gold...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Gold Mine Announces Preliminary Open Pit, In-Ground Values for Gold and Aggregate \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Rouyn Noranda, Q.C., -\n \n \n TheNewswire -\n \n \n July 23, 2024 -\n \n \n Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF)\n(Frankfurt: B6D) (the “Company” or “Granada”)\n \n \n is pleased to announce an estimate of the potential\nin-ground values at its Granada Gold deposit in Quebec for both gold\nand aggregate.\n \n \n \n \n Highlights of Potential in-Ground\nValues:\n \n \n \n \n \n \n Value per tonne of gold-mineralized material at a grade\nof 2 grams per tonne gold is $211.30 Canadian dollars. Value of one\ntonne of gravel classed as 0 inches to 0.75 inches is $36.00 Canadian\ndollars.\n \n \n \n \n \n \n \n \n Ratio of Gold-mineralized material to waste rock is 1\nto 8.\n \n \n \n \n \n \n \n \n Potential in-ground value combined is $499.30 Canadian\ndollars for each 9 tonnes material mined: $211.30 for one tonne\ngold-mineralized material plus $288.00 for 8 tonnes of waste rock.\n \n \n \n \n \n \n The current valuation indicates the waste rock value\nexceeds the recovered gold value. This valuation does not take the\nmining and processing costs into consideration. It does indicate that\nwaste rock values should be considered for project evaluation as it\nmay potentially significantly lower the unit cost per ounce of gold\nmined.\n \n \n \n \n Regarding the aforementioned value of waste rock, the\nCompany is committed to the re-use and repurposing for the use as\naggregate. On the Granada Gold mine site, this has included the use of\nhistorical waste rock for the construction materials of roads, and the\nplacement of oversized waste rock to limit shoreline erosion which is\nplanned to continue with a sub-contractor managing the Ministry of\nEnvironment permitted program. A resource development advisor has been\ncontracted to continuously improve the utilization of waste rock.\n \n \n \n \n Historical gold mining companies use less than 0.1\npercent by weight of the mined mineralized material and waste rock,\nwith 99 percent by weight left on surface as tailings in long-term\nstorage ponds and waste rock stock piles. The current program that is\noutlined has been the cornerstone of the Co...