This release contains drill results from the 100-series, part 3, near-surface drill program targeting Vein 1. The program is progressing as expected with the intention of converting the current low-grade open pit resource at 1 gram per tonne to a smaller, higher grade open pit with the majority of the future potential ounces in a resource underground. The company has now increased the drill program to 18,000 meters with a target of 120,000 meters to be drilled.
About
Pit-Constrained Mineral Resources at Granada disclosed on
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to a Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
Pit constrained mineral resources are reported at a cut-off grade of 0.4 g/t Au within a conceptual pit shell.
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.
Contact:
Tel: 1-819-797-4144
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.
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