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May 14, 2021

   

Industry News

Granada Gold hits more rare earth, alkali metals on Big Claim

2  MIN READ

Bulk sampling activity at the Granada gold mine in June 2020.

First reported in March 2021, the drilling continues to intersect rare earth and alkali metals on the Big Claim near Rouyn-Noranda, Que. Owner and operator Granada Gold Mine (TSXV: GGM) said there are more such intersections in hole GR-20-22 about 1,625 metres below surface.

Twenty-one distinct mineralized zones from 177 to 2.8 metres were intercepted. So far cesium, rubidium, scandium, zirconium, cerium, gallium, hafnium, neodymium and strontium have been identified. Assays for other metals are pending.

Granada has logged three sections of interesting mineralization. Although true widths are unknown, the first section from 1,053 to 1,106.5 metres returned 6.55 ppm cesium, 340,2 ppm rubidium, 0.96 ppm scandium, 724.3 ppm zirconium, 123 ppm cerium, 32.5 ppm gallium, 18.3 ppm hafnium, 34.4 ppm neodymium and 150.9 ppm strontium. The other sections were similar with the exceptions of rubidium, scandium, zirconium and cesium having lesser grades as the hole progressed, and strontium increasing with depth. The highest strontium assay was 1,285.4 ppm in the second section (1,291 to 1,236 metres at 1,285.4 ppm) and then the grade fell off in the third section (1,596 to 1,626 metres at 489.3 ppm)

Complete analysis of current 21 drill intercepts can be found on the company’s website (REE interval table).

Granada Gold Mine is principally interested in the historic producer of the same name. It went into production in 1930 and produced almost 51,500 oz. of gold until the surface structures were razed by fire in 1935. Shortly before Granada acquired the property in 2006, the previous owner recovered 2,200 oz. from vein No. 2 in 2000. Granada mined a bulk sample last year.

A new resource estimate was prepared this spring with 6 million tonnes at 2.32 g/t gold in the measured and indicated category, and 1.3 million tonnes at 6.46 g/t in the inferred category. The 43-101 report is posted at www.GranadaGoldMine.com.