ROUYN-NORANDA, QC, April 25, 2019 /CNW/ - Granada Gold Mine (TSX-V:
GGM) ("Granada Gold" "GGM" or the "Company") is pleased to report
on the latest encouraging results from a new two-stage gravity
concentration process. Low grade gold mineralization of 1.01 g/t
was upgraded in the test to 67.99 g/t.
Mr. Frank Basa, Chairman and CEO
of Granada Gold, stated, "We are seeking ways to reduce costs, and
therefore risks, of any possible future production decision. These
early-stage test results suggest this technique has the potential
of increasing the grade of mineralized material prior to shipping
for final processing, thereby lowering tonnage shipped. Further
testwork will be undertaken to optimize base metal and gold grades,
and recoveries."
The gravity pre-concentration study, originally reported by GGM
in a press release dated March 18,
2019, was conducted at the pilot plant of Canada Cobalt
Works (TSX-V: CCW), in Gowganda,
Ontario.
In this test, a 120-kilogram sample of low-grade mineralized
rock from the Granada Gold Mine waste dump was processed by
conventional gravity concentration techniques over two stages. The
first concentrates (Conc. 1 in table below) were analyzed for gold,
silver, cobalt, nickel, and copper, and then fed back through the
gravity circuit to form the second concentrate (Conc. 2).
TABLE 1. Results of Gravity Separation of GGM Waste
Rock
|
Au (g/t)
|
Ag (g/t)
|
Co (%)
|
Ni (%)
|
Cu (%)
|
Head Assay
|
1.01
|
0.5
|
.004
|
.009
|
.013
|
Conc. 1
|
12.04
|
15.30
|
.014
|
.015
|
.010
|
Conc. 2
|
67.99
|
62.80
|
.069
|
.037
|
.122
|
In addition, planning for summer exploration activities is
underway, with the aim of drill-testing targets in close proximity
to the pit-constrained gold resources as well as identifying new
targets via surface geologic work.
Qualified Person
The technical information in this news release was prepared
under the supervision of Frank J.
Basa, P.Eng., Granada Gold Mine's Chairman and Chief
Executive Officer, who is a member of Professional Engineers
Ontario and a qualified person in accordance with National
Instrument 43-101.
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.
Chief Executive Officer and Chairman
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.