granada gold

Granada Closes Private Placement

 
 

 Granada Gold Mine Inc. (TSXV: GGM) (the "Company" or "Granada") is pleased to announce that the Company has closed a non-brokered private placement financing, raising gross proceeds of $1,000,000 .

 

The Company has issued 5,000,000 units ("Units") at a price of $0.20 per Unit.  Each Unit is comprised of one common share of the Company and one share purchase warrant.  Each whole warrant entitles the holder thereof to purchase one additional common share of the Company at an exercise price of $0.22 per share for a period of three years from closing, subject to TSX Venture Exchange approval.

 

Proceeds of the private placement will be used for surface exploration, trenching, and historical resampling of drill core on the Company's Granada Gold Property in Québec and general working capital.

 

All securities issued in connection with the private placement are subject to a four-month and a day hold period expiring on June 24, 2021 , in accordance with applicable Securities Laws.

 

  About Granada Gold Mine Inc.  

 

 Granada Gold Mine Inc. continues to develop the Granada Gold Property near Rouyn-Noranda, Quebec . Approximately 120,000 meters of drilling has been completed to date on the property, focused mainly on the extended LONG Bars zone which trends 2 kilometers east-west over a potential 5.5 kilometers of mineralized structure. The highly prolific Cadillac Break, the source of more than 75 million plus ounces of gold production in the past century, cuts through the north part of the Granada property, but is not necessarily indicative of mineralization hosted on the company's property.

 

The Granada Shear Zone and the South Shear Zone contain, based on historical detailed mapping as well as from current and historical drilling, up to twenty-two mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically from two shafts and two open pits. Historical underground grades were 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m with open pit grades from 5 to 3.5 grams per tonne gold.

 

The Company is in possession of all mining permits required to commence the initial mining phase, known as the "Rolling Start", which allows the company to mine up to 550 tonnes per day. Additional information is available at www.granadagoldmine.com .

 

"Frank J. Basa"

 

  Frank J. Basa P. Eng .
President and Chief Executive Officer

 

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

 

SOURCE Granada Gold Mine Inc.

 

 

 

 Cision View original content: https://www.newswire.ca/en/releases/archive/February2021/23/c6447.html  

 
 

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Bert Dohmen

Bert Dohmen: Gold, Silver Key as Stock Market Bull Trap Looms

Bert Dohmen, founder and CEO of Dohmen Capital Research, sees physical gold and silver as key safe havens as a potential bull trap in the broad stock market plays out.

"We said we're probably going to go to a new high in a major, widely watched index like the S&P 500 (INDEXSP:.INX). It's going to be by a small amount a new high, and that's going to close the bull trap," he said.

Keep reading...Show less
Gold bars on financial charts and a notebook.

Top 5 ASX Gold Stocks of 2025

Gold continued to perform well through the second quarter of 2025, reaching a new all-time high of AU$5,425 per ounce on April 22.

The price surge has occurred amid volatile equity and financial markets since the start of the year, driven by concerns over a global trade war and escalating geopolitical tensions in the Middle East.

The rising gold price has also been supported by uncertainty over a looming debt crisis in the United States. Some investors have turned away from dollar-denominated haven assets, such as US Treasuries, in favour of precious metals like gold.

Keep reading...Show less
Gold nugget displayed on an antique balance scale with a dark background.

Meeka Metals Reports First Gold Pour at Murchison Project

Meeka Metals (ASX:MEK) has poured the first gold at its flagship Murchison project in Western Australia.

The pour happened on Tuesday (July 1), and in a Wednesday (July 2) press release, the company said the project’s production is in line with schedule, happening within 12 months of breaking ground.

Murchison sits near several multimillion-ounce gold mines and hosts a large, high-grade resource of 1.2 million ounces at 3 grams per tonne (g/t) gold on granted mining leases.

Keep reading...Show less
Sun Summit Minerals (TSXV:SMN)

Sun Summit Minerals

Keep reading...Show less

Latest Press Releases

Related News

×