ROUYN NORANDA, QC, Feb. 12, 2021 /CNW Telbec/ - Granada Gold
Mine Inc. (TSXV: GGM) (OTC: GBBFF) (FRANKFURT: B6D) (the "Company"
or "Granada") is pleased to announce that it will participate in a
John Tumazos Very Independent Research LLC 2021 Conference webinar
Tuesday February 16, 2021 at
8:30 am Eastern.
Frank Basa, President and CEO,
will present a company update including the January 29, 2021 resource update showing higher
grade open-pit and underground gold resources and the ongoing drill
program and bulk sampling activity underway at the Granada deposit aimed at expanding the
resource estimate to 2.5 to 3 million ounces with a 120,000-metre
drill program. The webinar will include a question-answer
session.
Registration to the webinar can be found at:
https://register.gotowebinar.com/register/4933968681886522638
After registering, you will receive a confirmation email
containing information about joining the webinar.
The corporate presentation for the webinar can be found at:
https://www.granadagoldmine.com/en/investors/presentations/
Updated Mineral Resource
The updated resource at the Company's Granada Gold project in
Rouyn-Noranda, Quebec was
estimated by SGS Canada and outlined in a January 29, 2021 news release.
Updated Mineral Resource Estimate Base Case with Details
Between the Open Pit Portion and the Underground Portion
- Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of
US$0.76 for CA$1, a gold recovery of
93%
- Pit constrained mineral resources are reported at a cut-off
grade of 0.9 g/t Au within a conceptual pit shell
- Underground mineral resources are reported at a cut-off
grade of 3.0 g/t Au within reasonably mineable volumes
Qualified Persons
For the purposes of this announcement, Claude Duplessis, P. Eng., of Goldminds
Geoservices Inc., a geological, environmental and mining consultant
and qualified person in accordance with National Instrument 43-101,
has reviewed and approved the contents of this news release.
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, but is not
necessarily indicative of mineralization hosted on the company's
property.
The Granada Shear Zone and the South Shear Zone contain, 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 a 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.
The Company is in possession of all mining permits 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.