The Conversation (0)
Granada Gold Mine Inc. (TSXV:GGM;OTCPK:GBBFF;FRA:B6D) CEO Frank Basa presented at the Denver Gold Show this week. He provided an overview of the company’s Granada Gold project and the work the company is doing at the Aukeko and Genesis targets.
Granada Gold Mine Inc. (TSXV:GGM;OTCPK:GBBFF;FRA:B6D) CEO Frank Basa presented at the Denver Gold Show this week. He provided an overview of the company’s Granada Gold project and the work the company is doing at the Aukeko and Genesis targets.
The Granada Gold property is located in the Abitibi Greenstone Belt in Quebec, Canada. The company has released a constrained open pit mineral resource. The mineral resource hosts 21.6 million tonnes in-pit measured and indicated resource of 808,000 ounces grading 1.16 g/t gold and it also hosts 10.4 million tonnes underground inferred resource of 1.5 million ounces grading 4.56 g/t gold. Granada Gold had initially released the resource estimates in 2012, which was followed up with a preliminary economic assessment (PEA).
In 2014, Granada Gold released their preliminary feasibility study, which outlined a a high-grade “rolling-start” mine production of 25,000 ounces per year. The company received their rolling-start permit in May 2016. Moving forward with the project, Granada Gold is in the process of completing a feasibility study. The study will feature an open-pit mine with the capacity to produce 80,000 to 100,000 ounces of gold per year and has the potential to mine under ground in eight to 10 years.
Basa also outlined the company’s exploration activities on the Aukeko and Genesis targets. The company is interested in expanding the mineralized area on the Granada Gold property to potentially increase the life of the mine.
To view the full video, click here.
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