Business
Granada Gold Mine Submits Documentation to Renew Mining Development Lease BM813 for Potential Open Pit Mining
(TheNewswire) Rouyn Noranda, Q.C. - TheNewswire - March 18, 2024 - Granada Gold...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Gold Mine Submits Documentation to Renew Mining Development Lease BM813 for Potential Open Pit Mining \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 \n March 18, 2024 -\n \n \n Granada\nGold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the\n“Company” or “Granada”)\n \n \n announces that\nit has submitted the documentation with the completed required work\nprogram to the Directorate of Development and Control of Mining\nActivity, Ministry of Natural Resources and Forests, Quebec. The same\nrenewal application process was used recently to renew mining lease\nBM852.\n \n \n \n \n Mine Development Leases\nHighlights:\n \n \n \n \n •\n \n \n Mining\nLease BM813:\n \n \n Granada Gold Mine’s renewal\napplication for this 21.12-hectare mining lease has been submitted and\nis awaiting approval.  Results from a 500-tonne surface bulk sample,\ntaken in 2022 from BM813 from high-grade Vein 1 and processed at\nTemiskaming Testing Laboratory in Cobalt, Ontario, was reported\nNovember 28, 2023 as grading 3.95 grams per tonne gold.\n \n \n \n \n •\n \n \n Mining\n \n \n Lease\nBM852:\n \n \n Granada Gold Mine applied and had the\n22.4-hectare mining lease renewed for 10 years. To keep the mining\nlease active, a 500-tonne surface bulk sample was taken in 2020.  The\nsample was processed at Temiskaming Testing Laboratory in Cobalt,\nOntario.  The material graded 4.33 grams per tonne gold.\n \n \n \n \n Mr. Frank J. Basa, P.Eng., Member of the Order of\nEngineers of Ontario, President and CEO of Granada Gold Mine Inc.,\nstated: \"With the increase in the price of gold and the revised\nhigher-grade open pit resource, Granada Gold Mine becomes viable for a\npotential production decision. With only twenty percent of the deposit\nexplored, the potential exists for a significant increase in the gold\nresource by re-activating the initiated deep drilling program.”\n \n \n \n \n All three surface bulk samples taken to-date along\nstrike have returned grades well above the estimated Measured and\nIndicated Mineral Resource average grade of 2.05 g/t gold in the\nresource calculation (see resource table below and the May 10, 2022,\nand March 15, 2023 n...