Business
Granada Gold Mine Unveils High-Grade Flow Sheet, Poised to Become Low-Cost Gold Producer on Cadillac Break
(TheNewswire) Rouyn Noranda, Q.C. - TheNewswire – April 10 , 2024 - Gr...
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"Granada Gold Mine Unveils High-Grade Flow Sheet, Poised to Become Low-Cost Gold Producer on Cadillac Break\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 April 10\n \n \n , 2024 -\n \n Granada Gold Mine Inc. (TSXV:GGM) (OTC:GBBFF) (Frankfurt:B6D)\n(the “Company” or “Granada”) is pleased to announce the\ndevelopment of a high-grade flow sheet for the ore at its Granada\nproperty. Leveraging this advancement, the company is currently\nsourcing the main processing equipment designed to operate at 10 grams\nper tonne (gpt) gold or higher, with a targeted capacity of 550 tonnes\nper day. The plant is of modular design and can be increased in\nincrements of 550 tonnes per day capacity.\n \n \n Historically, Granada's vein 1 was mined from underground at an\nimpressive grade of 9-10 gpt gold. With this new flow sheet and\nequipment, Granada Gold Mine is positioned to become a low-cost\nproducer of gold on the prolific Cadillac Break.\n \n \n CEO Frank Basa remarked, \"One of our metallurgical consultants\npreviously assessed the cash costs per ounce gold, estimating them to\nbe approximately $959 US per ounce for an initial mine and milling\ncost, based on a previous gold price of $1,462 US per ounce. However,\nthe current surge in gold prices ($2,346 USD per ounce and $3,189 CAD\nper ounce, yesterdays spot price) significantly enhances our projected\nrevenues and internal rate of return (IRR) for the project, making\nwhat was already an attractive prospect even more compelling.\"\n \n \n Granada Gold Mine anticipates a low capital expenditure (CAPEX) for\nthe return on investment, particularly in light of the rising gold\nprices. This favorable combination of factors underscores the\ncompany's confidence in the economic viability and potential\nprofitability of the Granada project.\n \n \n \n Qualified person\n \n \n \n \n The technical information in this news release has been\nreviewed and approved by Claude Duplessis,\nP.Eng., GoldMinds Geoservices Inc., who is\na member of the Québec Order of Engineers and a qualified\nperson in accordance with the National Instrument 43-101\nstandards.\n \n \n \n \n About Granada Go...