ROUYN-NORANDA, QC, July 23, 2019 /CNW/ - Granada Gold Mine Inc.
(TSXV: GGM) (the "Company" or "Granada") Granada Gold Mines Ltd.,
through its expanded Phase I metallurgical test program, has the
potential to greatly increase the potential resource at the Granada
Property on the Cadillac trend by recovering the low-grade,
halo-effect gold mineralization around the main mineralized veins
based on preliminary metallurgical testwork done this spring (see
April 25, 2019, news release).
Low-grade waste pile mineralized material has been sent to SGS
Lakefield, Ontario to begin
process optimization to increase the gold grade with the focus also
on cobalt and nickel recovery.
Highlights:
- A 30,000 tonne bulk sample at 19 mm has been screened out of
the waste pile for test purposes.
- The expanded LONGBARS zone, extending 2 kilometers east-west
over a potential 5.5-kilometer mineralized structure along the
Cadillac trend, features halo-effect gold mineralization around the
main mineralized veins.
- This mineralized material is amenable to conventional gravity
concentration and has, in the past, been mined and rejected to the
waste pile.
- Preliminary testwork using conventional gravity concentration
has produced a high-grade gold concentrate with increased base
metals grades.
Frank J. Basa, P.Eng., Granada
Gold's president, comment: "The test results to date increasingly
indicate that there is potential to upgrade this low-grade gold
within the halo-effect mineralized material."
Qualified person
The technical information in this news release has been reviewed
and approved by Frank J. Basa,
P.Eng., Granada Gold mine Inc.'s President and Chief Executive
Officer, who is a member of Professional Engineers Ontario and a
qualified person in accordance with National Instrument 43-101
standards.
About Granada Gold Mine Inc.
Granada Gold Mine Inc. continues to develop the Granada Gold
Property near Rouyn-Noranda,
Quebec. Approximately 120,000 meters of drilling has been
completed to date on the property, focused mainly on the extended
LONG Bars zone which trends 2 kilometers east-west over a potential
5.5 kilometers of mineralized structure. The highly prolific
Cadillac Break, the source of more than 75 million plus ounces of
gold production in the past century, cuts through the north part of
the Granada property.
The Company is in possession of a mining permit required to
commence the initial mining phase, known as the "Rolling Start",
which allows the company to mine up to 550 tonnes per day.
Additional information is available at www.granadagoldmine.com.
"Frank J. Basa"
Frank J. Basa P. Eng.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore, involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
SOURCE Granada Gold Mine Inc.