Granada Gold Mine's President and CEO Frank J. Basa is Interviewed by David Morgan, Publisher of the Morgan Report - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2018) - Granada Gold Mine's (TSXV: GGM) (FSE: B6D) (OTC Pink: GBBFF) President and CEO Frank J. Basa is interviewed by David Morgan, publisher of the Morgan Report.
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Granada Gold Mine Inc. is developing the Granada Gold Property near Rouyn-Noranda, Quebec. The property includes the former Granada gold mine which produced more than 50,000 ounces of gold in the 1930s before a fire destroyed the surface buildings. The highly prolific Cadillac Trend, which has been the source of more than 50 million ounces of gold produced in the past century on a line running from Val-d'Or to Rouyn-Noranda, cuts through the north part of the property.
An updated Mineral Resource Estimate and revised Block Model dated June 30, 2017, with effective date of May 16, 2017, includes the first material estimate of high-grade gold resources discovered in zones at depth immediately north of the LONG Bars Zone open-pit deposit.
An initial Inferred underground resource of 10,386,500 tonnes grading 4.56 grams per tonne gold at a cut-off grade of 1.5 grams per tonne (1.5 million ounces gold) has been outlined along 600 metres of strike, north of the original near-surface discovery at Granada.
Open-pit-constrained resources have 625,000 ounces Measured at 1.14 g/t Au and 182,700 ounces Indicated at 1.26 g/t Au with a cut-off grade of 0.39 g/t Au (807,700 ounces M&I at 1.16 g/t Au) representing a major increase in Block Model estimates for Granada vs. 2012 Block Model.
The Company has obtained all necessary permits for the initial mining phase, known as the "Rolling Start", for which stripping has already begun, and has been conducting exploration drilling in order to expand the reported mineral resource for the property.
The Company has signed a provisional milling agreement with Canada Cobalt Works (TSX-V: CCW) to process an initial 600,000 to 2,000,000 tonnes of mineralized material at a grade of 4.5 grams per tonne gold. Canada Cobalt Works has retained the engineering firm Wood Group to undertake the necessary studies to obtain the required permits to install a 600-tonne-per-day mill at the Castle mine site in Gowganda, Ontario.
As well, Granada Gold has selected Ausenco Limited to commence a feasibility study for the development of a producing mine with a capacity of 80,000 to 100,000 ounces of gold per year at its 100-percent-owned Granada property, located in Quebec in the town of Rouyn-Noranda.
For more information, please visit www.granadagoldmine.com, contact Wayne Cheveldayoff, Investor Relations, at 416-710-2410 or email waynecheveldayoff@gmail.com..
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