Business
Granada Gold Provides Exploration Update for 2019
ROUYN NORANDA, QC, March 1, 2019 /CNW/ - Granada Gold Mine (TSX.V: GGM) ("Granada Gold" or "GGM" or the "Company") is pleased to provide an update of its 2019 p
About this update from Granada Gold Mine Inc.
[{"type":"text","content":" ROUYN NORANDA, QC, March 1, 2019 /CNW/ - Granada Gold Mine (TSX.V: GGM) (\"Granada Gold\" or \"GGM\" or the \"Company\") is pleased to provide an update of its 2019 plans, activities aimed at exploration and development as follow-up to the Company's recently updated resource estimate at its Granada Gold project in Rouyn-Noranda, Quebec. On February 13, 2019, the Company filed on Sedar a technical report compliant with National Instrument 43-101 announcing an updated Pit-Constrained Resource Estimate resource with 762,000 ounces of gold in the Measured and Indicated categories, plus 455,000 ounces of gold in the Inferred category. The report entitled, \"Granada Gold Project Mineral Resource Estimate Rouyn-Noranda, Quebec, Canada\", was written by SGS Canada Inc., and provides support for the following resource estimate: Current Resources: 2019 Pit-Constrained Resource Estimate1 Category Tonnes Grade(g/t Au) Contained Gold (oz.) Measured 12,637,000 1.02 413,000 Indicated 9,630,000 1.13 349,000 M&I Total 22,267,000 1.06 762,000 Inferred 6,930,000 2.04 455,000 1 Cutoff 0.4 g/t Au; see Press Release of February 13, 2019 for detailed notes. Frank J. Basa, P.Eng, Chairman and CEO of Granada Gold Mine, stated, \"These robust numbers confirm our longstanding belief in the merits of this property, and they form the backbone for our next efforts. We intend to see how we can turn Granada into a bulk-tonnage mine, and we believe the improving mining markets position us well for this effort.\" The authors of the report, Independent Qualified Persons Allan Armitage, PhD, P.Geo, and Maxime Dupere, BSc, P.Geo, conclude that there is \"…significant potential for delineation of additional Mineral Resources and that further exploration is warranted.\" GGM's next steps are to build on the above Current Resources. The Company has begun activities which aim to add resources through exploration drilling. Development activities will initially be focused on the process of evaluating the economic and engineering aspects of the Current Resources. Exploration ActivitiesThe Granada Shear Zone (\"GSZ\"), located 1 km south of the prolific Cadillac Break shear zone, hosts the Current Resources in and around the historic Granada Mine, which saw some 51,000 ounces of gold produced in the 1930's. The GSZ is an east-west trending fault zone that extends along...