Business
Granada Gold Mine Extends Warrant Terms
(TheNewswire) Rouyn Noranda, Q.C. - TheNewswire - March 30, 2022 - ...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Gold Mine Extends Warrant Terms\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Rouyn Noranda, Q.C. -\n \n \n TheNewswire\n-\n \n \n March 30, 2022 -\n \n \n Granada Gold Mine Inc.\n \n \n (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D) (the “Company” or\n“Granada”)\n \n \n announces\n \n \n that it will be extending the expiry date of an aggregate\n10,191,166 share purchase warrants (the \"Warrants\") by three\nyears.  The 10,191,166 Warrants are due to expire on May 13, 2022.\nThe expiry date will be extended by three years and the Warrants will\nnow expire on May 13, 2025.  All other terms and conditions remain\nconstant.\n \n \n \n \n The private placement units were issued at a price of\n$0.10 per unit and consisted of one common share and one Warrant\nentitling the holder to purchase one additional common share at an\nexercise price of $0.12 per share for a period of two years from\nclosing.  The amendment is subject to the approval of the TSX Venture\nExchange.\n \n \n \n \n About Granada Gold Mine Inc.\n \n \n \n \n Granada Gold Mine Inc. continues to develop and explore\nits 100% owned Granada Gold Property near Rouyn-Noranda, Quebec which\nis\n \n \n adjacent to the prolific Cadillac Break.\n \n \n The Company owns 14.73 square kilometers of land\nin a combination of mining leases and claims. The company is currently\nundergoing a large drill program with 30,000m out of 120,000m\ncomplete. The drills are currently paused to provide the technical\nteam with the necessary time to evaluate and assimilate existing data.\n \n \n \n \n The Granada Shear Zone and the South Shear Zone\ncontain, based on historical detailed mapping as well as from current\nand historical drilling, up to twenty-two mineralized structures\ntrending east-west over five and a half kilometers. Three of these\nstructures were mined historically from four shafts and three open\npits. Historical underground grades were 8 to 10 grams per tonne gold\nfrom two shafts down to 236 m and 498 m with open pit grades from 3.5\nto 5 grams per tonne gold.\n \n \n \n \n Mineral Resource Estimate\n \n \n \n \n On March 15, 2021 the Company released an updated NI\n43-101 resource estimate for the Granada Gold project (Please see\nJanuary 29, 2021 news release) with a combined total of 713,000 gold\nounces of measured, indica...