The Granada Gold deposit along the Cadillac Break in northwestern Quebec has gold resources of 1.2 million oz Au M+I+I (limited to open-pit at this time), a PEA and PFS, and permits to begin open-pit mining (to ship to a local mill). Current focus is on: (1) exploration drilling and bulk sampling; (2) updating the resource estimate this year; (3) studies of permitting changes required for an onsite mill; and (4) engineering work towards establishing a mill on the property (past mill plans have targeted production of 80,000 to 100,000 oz Au/yr beginning with the open-pit and then moving underground). Recent drill results: 11.45 g/t Au over 33m at surface. Past surface bulk sampling: 5.17 g/t Au. Past underground mining averaged 9.7 g/t Au. There is lots of potential at Granada to expand resources: (1) past drilling has defined underground drilling targets with potential to add 1-2 million oz underneath the pit and to the north; and (2) additionally, only 20% of east-west 5.5 km strike length has been explored so far. More information in the presentation and at www.granadagoldmine.com.
Frank J. Basa
Granada CEO Frank J. Basa, P.Eng., is a metallurgical engineer with more than 30 years of gold mining experience in exploration, development and milling. He has been President and CEO of Granada Gold for more than 10 years and he is also President and CEO of Canada Silver Cobalt Works Inc.