Highlights:
- 3.64 g/t gold over 3.45m in GR-20-15 from 399.00 to 402.45m
- 5.25 g/t gold over 1.5m in GR-20-17 from 301.50 to 303.00m
- 2.47 g/t gold over 3.00 in GR-20-18 from 510.50 to 513.50m
- 13.20 g/t gold over 1.00 in GR-20-19 from 583.12 to 584.12m
- 107.8 g/t gold over 4.00m in hole GR-20-21 from 617.40 to 621.40m
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 meters (details in Table 1). It extends the strike to the northeast and is the best drill result of the 2020 exploration drill program. The 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 J Basa,
For a summary of today's drill results, refer to table 1.
The 2021 Exploration program
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.
Table 1: ASSAY RESULTS LOCATED BELOW THE 2021 HIGHER-GRADE, PIT-CONSTRAINED MINERAL RESOURCE
Hole ID | From (m) | To (m) | Length (m) | Gold (g/t) |
GR-20-15 | 331.15 | 336.15 | 5.00 | 1.43 |
AND | 346.65 | 349.65 | 3.00 | 2.85 |
AND | 399.00 | 402.45 | 3.45 | 3.64 |
Including | 400.50 | 402.45 | 1.95 | 6.41 |
GR-20-17 | 294.00 | 303.00 | 9.00 | 1.40 |
Including | 301.50 | 303.00 | 1.50 | 5.25 |
AND | 318.00 | 321.00 | 3.00 | 2.05 |
AND | 364.00 | 367.75 | 3.75 | 1.83 |
Including | 367.00 | 367.75 | 0.75 | 5.75 |
GR-20-18 | 510.50 | 513.50 | 3.00 | 2.,47 |
AND | 526.40 | 529.40 | 3.00 | 1.66 |
AND | 564.50 | 567.00 | 2.50 | 2.17 |
AND | 596.70 | 600.00 | 3.30 | 2.64 |
GR-20-19 | 498.50 | 504.50 | 6.00 | 1.90 |
Including | 503.00 | 504.50 | 1.50 | 6.20 |
AND | 577.50 | 584.12 | 6.62 | 2.35 |
Including | 583.12 | 584.12 | 1.00 | 13.20 |
GR-20-21 | 560.40 | 563.40 | 3.00 | 3.93 |
Including | 560.40 | 561.90 | 1.50 | 7.80 |
AND | 617.40 | 621.40 | 4.00 | 107.8 |
AND | 759.60 | 760.10 | 0.50 | 3.35 |
Lengths are core length and are close to true widths, no capping applied. Au is Gold by Fire assay, or by gravimetric finish or screen metallic method.
Table 2 presents the characteristics of the drill holes of this release.
TABLE 2: DRILL HOLE LOCATION DATA
Hole | UTME | UTMN | Elevation | Azimuth | Dip | Length (m) |
GR-20-15 | 647226.5 | 5338476.9 | 303.32 | 180.0 | -80.3 | 552 |
GR-20-16 | 647006.5 | 5338446.3 | 312.52 | 201.5 | -73.1 | 498 |
GR-20-17 | 647006.6 | 5338446.4 | 312.48 | 201.5 | -80.2 | 558 |
GR-20-18 | 647335.7 | 5338656.3 | 302.05 | 222.0 | -65.0 | 600 |
GR-20-19 | 647335.7 | 5338656.3 | 302.05 | 197.6 | -65.0 | 702 |
GR-20-20 | 645968.0 | 5339544.0 | 292.0 | 183.6 | -86.0 | 588 |
GR-20-21 | 647335.7 | 5338656.3 | 302.05 | 197.6 | -65.0 | 761 |
GR-20-22 | 647617.0 | 5339243.0 | 290.0 | 4.4 | -65.0 | 1600 |
Qualified person
The technical information in this news release has been reviewed by
Quality Control and Reporting Protocols
All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA (Atomic Absorption) finish or gravimetric finish at (i)
About
Updated Mineral Resource
The updated resource at the Company's Granada Gold project in
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
Type | Category | Tonnes | Au | Gold Ounces |
In Pit | Measured1 | 3,756,000 | 1.89 | 228,000 |
Indicated | 1,357,000 | 2.55 | 111,000 | |
Measured+Indicated | 5,113,000 | 2.06 | 339,000 | |
Inferred | 34,000 | 11.29 | 12,000 | |
Underground | Measured | 37,000 | 4.22 | 5,000 |
Indicated | 807,000 | 4.02 | 104,000 | |
Measured+Indicated | 844,000 | 4.03 | 109,000 | |
Inferred | 1,244,000 | 6.33 | 253,000 |
1. | Cut-off grades are based on a gold price of |
2. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
3. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
"Frank J. Basa"
President and Chief Executive Officer
Neither the
SOURCE
© Canada Newswire, source