Granada Gold Mine Inc. [GGM-TSXV; GBBFF-OTC; B6D-FSE] reported additional high-grade gold results from its continuing drill program at the 100%-owned Granada gold project 5 km south of Rouyn-Noranda, Quebec. This release contains diamond drill results under the pit-constrained mineral resource with five holes.
Drill hole GR-20-15 returned 3.64 g/t gold over 3.45 metres from 399.00 to 402.45 metres. Hole GR-20-17 returned 5.25 g/t gold over 1.5 metres from 301.50 to 303.00 metres. Hole GR-20-18 returned 2.47 g/t gold over 3.00 metres from 510.50 to 513.50 m. Hole GR-20-19 returned 13.20 g/t gold over 1.00 metre from 583.12 to 584.12 metres and hole GR-20-21 returned 107.8 g/t gold over 4.00 metres from 617.40 to 621.40 metres.
The intersections, many of which are mineralized between previously identified intervals, show extension and continuity of the mineralized structures. Significant high-grade intersections were encountered in the drill holes. In particular, GR-20-21, which intersected 107.8 g/t gold over 4 metres. It extends the strike to the northeast and is the best drill result of the 2020 exploration drill program. Hole GR-20-21 is being wedged off.
“These drill results continue to exceed expectations and demonstrate the potential of Granada. The exploration efforts have delivered some of our most significant results to date, extending the high-grade strike to the northeast and confirm continuity and high-grade gold mineralization at depth,” said Frank Basa, PEng, President and CEO
The 2021 exploration drill program recently started with drilling of wedges and new holes under the higher-grade open-pit-constrained resources to increase the quantity and quality of the mineral resources. The drilling will focus on filling the gaps to allow building of additional mineral resources in addition to the testing of continuity of the structures with the 200-series holes.
Approximately 120,000 metres of drilling has been completed to date on the property, focused mainly on the extended Long Bars zone which trends 2 km east-west over a potential 5.5 km 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.