Intercepted mineralization at Granada!

 

The drill could change the economics of Granada Mine! 

Rouyn Noranda, Quebec, Granada Gold Mine provides an update on its on-going drill program at Granada. The Company completed the 6000-meter drill program and has begun another 6000-meter drill program with 2 drills on site. All drill holes intercepted mineralization which will be used in the updated resource calculation. Lengths are core length and are close to true widths, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method.

Frank J. Basa, P Eng, “The drill hole data under the pit-constrained resource could potentially change the economics of developing the Granada Mine Property. 

Previously explored as a low-grade, open pit deposit, the company now envisions an open pit with a ramp from the bottom of the pit into the higher-grade mineralization below, significantly adding more ounces to the current resource.” 

Holes GR-20-16 and GR-20-17 were then drilled on the same set-up as GR-11-393 with different dips to enable definition of underground mineral resources in that sector. 

GR-11-393 had intersected the 3 veins: Vein 1, Vein 3 & Vein 2 (foot wall) with high-grade individual assays of 12.14 g/t Au over 0.5m at 277.5m, 9.76g/t Au over 1.0m at 318.0m, and 12.73 g/t Au over 1.3m at 425.5m. As noted, assay results from GR-20-15 and GR-20-17 have not yet been received but will be disclosed after they are validated and interpreted. See drill hole location map further down.