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Granada Gold Mine Update on Granada gold deposit in Rouyn-Noranda

Mining News - Published on Fri, 17 Jan 2020

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Granada Gold Mine Inc has provided assays results from the last hole in the latest drill program at its 100%-owned Granada gold deposit in Rouyn-Noranda. Unexpected near-surface, high-grade mineralization has been discovered within the recently explored two-kilometer LONG Bars Zone of the five and half kilometer Granada Shear zone which trends east-west on the property. The 450-meter Fall, 2019 drill program focused on testing the gold grade continuity and variability within mineralized structures. The Granada Shear Zone and the South Shear Zone contains, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and half kilometers. Three of these structures were mined historically from two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 5 to 3.5 grams per tonne gold.


11.45 g/t in drill hole GR-19-A from 0 to 33 m core length including high-grade intercepts of 42.5 g/t from 0 to 1.5 m, 480 g/t from 8.1 to 8.5 m, and 70.8 g/t from 31.9 to 32.4 m. The horizontal width, based on outcrop, is about 9 meters and true width is estimated at 6.3 meters. The core length reported is estimated to have intersected only 15-20% of the entire thickness of the zone. However, it is a real known extent in that direction down dip of gold mineralization within the intersected length. Assays are uncut except where indicated.

A further 50 m strike length of stripping uncovered a massive mineralized quartz zone exposing strong veining with visible gold on surface

Hole GR-19-A was drilled down-dip from a surface exposure of the mineralized zone composed of a massive quartz vein within a sheared and altered conglomerate adjacent to feldspar porphyry to the south. The entire mineralized zone has a 9-meter horizontal thickness in that sector. GR-19-A was drilled at azimuth 21 degrees North with a dip of 41 degrees in NQ core size.

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Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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