Granada Gold: Permitted for open-pit mining with resource growth potential
G
ranada Gold Mine Inc., located five kilometres south
• Drilling more deeply below the pit and to the north of the pit
of Rouyn-Noranda, is currently focused on drilling to grow its gold resources, but it also has the permits
to establish an underground resource; • Drilling at the Genesis Target northwest of the pit where
it needs to begin open-pit mining, which makes
magnetic anomalies indicated may be the source of the gold
it unique among the junior gold exploration companies along
on the property and where initial drill holes in 2018 showed
Quebec’s Cadillac Break.
especially high-grade intersections of up to 45 g/t Au; • Metallurgical work aimed at establishing that the very-low-
The quartz gold veins at Granada outcrop at the surface, so digging out the mineralized material to ship to a mill would be
grade, gold-containing halo around the high-grade veins
relatively simple to do. Some of the veins have already been
could also be mined economically by pre-concentrating
uncovered and prepared for mining as a result of past stripping
the material before running it through a mill (testing using
activity at the property.
gravity concentration showed that one g/t waste rock could be turned into a 67 g/t concentrate). This could boost the
Granada’s permits are for mining 550 tonnes per day, which would amount to a sizeable 200,000 tonnes of throughput over
amount of reported NI 43-101 resources and significantly reduce
the course of a year for a mill. Engineering studies conducted in
mill processing and transportation costs per ounce of gold
the past have shown that this initially could produce an estimated
produced.
25,000 ounces of gold per year, with the deposit being capable of
In the 12 years that the company has been exploring and
higher throughput and producing 80,000 to 100,000 ounces per
developing the property, gold has been found in high-grade veins,
year for a decade or longer.
and in between and around these high-grade veins – namely in
At present, the company is actively working to expand its gold
the small veinlets and as free gold scattered through much of the rock.
resources at the property, with plans for the following:
Underground mining in the 1930s produced more than 50,000
• Drilling around the current pit to expand the amount of
ounces of gold from underground workings with the grade
reported NI43-101 pit-constrained gold resources (see
averaging 9.7 g/t Au. At the time, it was observed that more gold
accompanying table for the Feb. 2019 estimate);
tended to come out of the mill than what the assays were showing was going in (probably from
GRANADA GOLD PROJECT: Claims and Target Locations
the gold veinlets and free gold not included in assays). Subsequent metallurgical testing by the company confirmed this tendency, and a 140,000-tonne bulk sample from the deposit in 2007 with assays showing an average head grade of 1.35 g/t gold produced a 20 per cent higher
North Zone
mill grade of 1.62 g/t gold. The Granada deposit is open for further exploration to the east along strike and the
East Extension
north, from surface to depth. So far the company has focused its exploration around the old
Bulk Sample 1938 Avg. 7.0 oz Au/T (239.9 g/t Au)
Granada mine shafts on only two kilometres of
Grab Samples 1940 Up to 6.57 oz Au/T (225.2 g/t Au)
the 5.5-kilometre gold structure on the property.
Property claim boundary
However, to the east on the property, there are past mines with high-grade indications (Aukeko TSX-V GGM OTC PK GBBFF FRANKFURT B6D
18 Revue minière du Québec
4
and Austin Rouyn) which have not yet been
