(via TheNewswire)
Highlights:
- 5.09 g/t goldover 1.25m in GR-20-21W4 from 572.20 to 573.45m
- Including 0.5m at 12.48 g/t Gold at 572.70m
- 3.03 g/t goldover 4.75m in GR-20-21W4 from 592.25 to 597.00m
- Including 1m at 11.6 g/t Gold at 593.25m
- 3.02 g/t goldover 2m in GR-20-21W5 from 552m
- Including 1m at 5.53 g/t Gold at 552.00m
- 3.45 g/t goldover 2m in GR-20-21W5 from 628.60 to 630.60m
- Including 1m at 6.86 g/t Gold at 629.00m
In an attempt to confirm continuity and extent of the high-grade intervals of hole GR-20-21 disclosed in
“These drill results continue to demonstrate the potential of Granada. The exploration efforts have delivered some significant results to date, where the continuity of structures and high-grade gold mineralization at depth is observed with confidence,” said Frank J Basa,
For a summary of today’s drill results, refer to Table 1
The 2021 Exploration program
The 2021 exploration drill program recently started with drilling of wedges and new holes under the higher-grade, open pit constrained resources to increase the quantity and quality of the mineral resources. The drilling will focus on filling the gaps to allow building of additional mineral resources in addition to the ongoing testing of continuity of the structures with the 200-series holes.
Table 1: ASSAY RESULTS FROM BELOW PIT-CONSTRAINED MINERAL RESOURCE
-------------------------------------------------- |Hole ID |From (m)|To (m)|Length (m)|Gold (g/t)| |------------------------------------------------| | | | | | | |------------------------------------------------| |GR-20-21W4|572.20 |573.45|1.25 |5.09 | |------------------------------------------------| |Including |572.20 |572.70|0.50 |12.48 | |------------------------------------------------| |AND |592.25 |597.00|4.75 |3.03 | |------------------------------------------------| |Including |593.25 |594.25|1.00 |11.60 | |------------------------------------------------| |GR-20-21W5|530.75 |533.75|3.00 |2.31 | |------------------------------------------------| |Including |532.25 |533.75|1.50 |4.07 | |------------------------------------------------| |AND |552.00 |554.00|2.00 |3.02 | |------------------------------------------------| |Including |552.00 |553.00|1.00 |5.53 | |------------------------------------------------| |AND |628.60 |630.60|2.00 |3.45 | |------------------------------------------------| |Including |629.60 |630.60|1.00 |6.86 | --------------------------------------------------
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.
Important note:
Wedge #3 GR-20-21W3, #4, #5, #6, #7 complete assay results pending. The table above presents partial results received.
Table 2 presents the characteristics of the drill holes of this release
Table 2: DRILL HOLE LOCATION DATA – Wedges inserted at 424m depth and above
---------------------------------------------------------------- |Hole |UTME |UTMN |Elevation|Azimuth|Dip |Length (m)| |--------------------------------------------------------------| |GR-20-21|647335.7|5338656.3|302.05 |197.6 |-65.0|761 | ----------------------------------------------------------------
Qualified person
The technical information in this news release has been reviewed by
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at
About
Updated Mineral Resource
The updated resource at the Company’s Granada Gold project in
Updated Mineral Resource Estimate Base Case with Details for both the Open Pit Portion and the Underground Portion
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1.Cut-off grades are based on a gold price of
US$1,600 per ounce, a foreign exchange rate ofUS$0.76 for CA$1, a gold recovery of 93%2.Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell
3.Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes
“Frank J. Basa”
President and Chief Executive Officer
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Neither the
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