Vancouver, British Columbia–( Newsfile Corp. – April 11, 2018) – Granada Cash Cow (TSXV: GGM) (FSE: B6D) ( OTCPink: GBBFF) has actually chosen Ausenco Limited to begin an expediency research study for the advancement of a mine at its Granada Gold home, with a yearly production capability of 80,000 to 100,000 ounces of gold.
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The 100% owned Granada Gold home, situated near Rouyn-Noranda in Quebec, consists of the previous Granada cash cow, which produced more than 50,000 ounces of gold in the 1930s, prior to a fire damaged the surface area structures. The extremely respected Cadillac Pattern, a line ranging from Val-d’Or to Rouyn-Noranda, has actually been the source of more than 50 million ounces of gold in the previous century, and cuts through the north part of the home.
Frank J. Basa, President and CEO, specified: “ Ausenco has a track record for development and performance, and in truth sponsored PDAC’s #disruptmining occasion this year together with Goldcorp, they likewise effectively help Atlantic Gold Corporation in their comparable task in Eastern Canada. We are preparing for that their fresh method will assist us move at a great speed to move us forward in our concentrate on production“
The research study will concentrate on the pit-constrained resource of 807,700 ounces Measured & & Indicated at 1.16 grams per tonne gold, making up 625,000 ounces Determined at 1.14 grams per tonne and 182,700 ounces Suggested at 1.26 grams per tonne, with a cut-off grade of 0.39 grams per tonne gold. The business has actually carried out and finished all the needed ecological research studies and acquired the needed authorizations to be a manufacturer under its initial “Rolling Start” program.
In the meantime, the business has actually signed a provisionary milling arrangement with Canada Cobalt Functions (TSXV: CCW) to process a preliminary 600,000 to 2,000,000 tonnes of mineralized product revealing a grade of 4.5 grams per tonne gold. Canada Cobalt maintained the engineering company Wood Group to carry out the needed research studies to acquire the needed authorizations to set up a 600-tonne-per-day mill at the Castle mine website in Gowganda, Ontario to process the mineral reserves recognized in Granada’s 2014 Pre-Feasibility Research study.
These activities are planned likewise to offer a ramp to production for the business’s state-of-the-art, underground maiden resource, a preliminary Presumed resource described along 600 meters of strike, north of the initial near-surface discovery at Granada.
The 2017, 43-101 Mineral Resource Evaluation Update recognized 1.5 million ounces of gold, from 10,386,500 tonnes balancing 4.56 grams per tonne gold Presumed at a cut-off grade of 1.5 grams per tonne. This upgrade consists of the very first product price quote of state-of-the-art gold resources found in zones at depth instantly north of the LONG Bars Zone open-pit deposit.
To find out more, please go to www.granadagoldmine.com, contact Wayne Cheveldayoff, Financier Relations, at 416-710-2410 or e-mail waynecheveldayoff@gmail.com
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