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Granada Gold Mine Estimates a cost of 1,200 US Dollars per Ounce of Gold for Potential 2027 Custom Milling
(TheNewswire) Rouyn Noranda, Q.C. – TheNewswire - December 9, 2024 - Granada...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Gold Mine Estimates a cost of 1,200 US Dollars per Ounce of Gold for Potential 2027 Custom Milling\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 December 9, 2024 -\nGranada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the\n\"Company\" or \"Granada\") has reviewed a recent\nupdated news release of a mid-tier local gold operator’s production\ncosts.  It is estimated, that upon completion of the Company’s\nongoing deep drilling program in 2027, that the potential exists for\ncustom milling with three separate mid-tier gold producers in Quebec\nalong the Cadillac Break in 2027 due to the exhaustion of their\nresources. Granada Gold Mine’s open pit is fully permitted and\nshovel ready should the opportunity present itself with 540,000 ounces\nof gold in the measured and indicated categories.  Historically, the\nopen pit was operated at 3.5 to 5 grams per tonne gold. Two recent\n500-tonne bulk samples have returned open-pit average gold grades of 4\ngrams per tonne gold.\n \n\n\n\n Revising the costs from a PFS completed in May 6, 2014\n(\n \n\n\n\n PFS, SGS Canada\nInc.)\n \n\n\n\n for custom milling with a local\nmid-tier gold mine whereby a custom milling agreement was signed and\ntheir C of A was amended to receive the Granada ore, it is estimated\nthat cost of production would be 1229.14 US dollars per ounce with a\nfeed gold grade of 4.24 grams per tonne (with 25 percent mining\ndilution and a 10 percent ore loss) for the first 77,500 ounces of\ngold from Proven and Probable Reserves.\n \n\n\n\n Frank J. Basa, President and CEO, commented, \"The\nCompany is well-positioned to deliver the high-grade open pit\nmineralization to any of the three mid-tier gold mines at any moment.\nWith the gold price at 2657.10 dollars US per ounce (Kitco, Dec. 9,\n2024) the profit margin is 1,427.96 dollars US per ounce. The\npotential profit is over 110 million dollars US for processing 15\npercent of the resource”.\n \n\n\n\n Qualified person\n \n\n\n The technical information in this news release was reviewed and\napproved by Matthew Halliday, P.Geo., Director of Granada Gold Mine\nInc., and member of the Ordre des Géologues du Québec, who is a\nQualified Person in accordance with N...