Rouyn Noranda, Quebec TheNewswire - March 2 6 2021 - Granada Gold Mine Inc. is pleased to announce the significant discovery of Scandium Rubidium and Cesium on the Big Claim of the Granada Gold Mine property, in Quebec, Canada. Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has ...

(TheNewswire)



Rouyn Noranda, Quebec TheNewswire - March 2 6 2021 - Granada Gold Mine Inc. (TSXV:GGM) (the "Company" or "Granada") is pleased to announce the significant discovery of Scandium (Sc), Rubidium (Rb), and Cesium (Cs) on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.

Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has been sampled in portions of the drill core. The mineralized portions of the core have been assayed for 56 metals. Additional assays are pending. Portions of drill holes GR-20-20 and GR-20-22 were sampled. Assays for GR-20-22 are still pending. Based on recent assays for intervals sampled, the intervening intervals are being sent for assay to create a complete picture.

Highlights of drill hole GR-20-20:

  • - 13.5 ppm Cs, 101.8 ppm Rb, 21.0 ppm Sc over 12.0 meters from 351.0 meters to 363.0 meters

    - 3.5 ppm Cs, 69.1 ppm Rb, 13.8 ppm Sc over 98.0 meters from 451.0 meters to 549.0 meters

    - 1.1 ppm Cs, 42.1 ppm Rb, 12.2 ppm Sc over 15.0 meters from 573.0 meters to 588.0 meters

Core lengths represent approximately 40 percent true width.

The potential value of the rare earths and alkali metals per ppm in US dollars is as follows

  • - Cesium (Cs) US Dollars 63 per ppm

    - Rubidium (Rb) US Dollars 16.08 per ppm

  • - Scandium (Sc) US Dollars 186 per ppm

    - Gold (Au) US Dollars 56 per ppm

    - Silver (Ag) US Dollars 0.84 per ppm

Commodity price sources:

  • - Institute of rare earths and strategic metals

    - USGS 2021 and 2020 reports

    - Alfa Aesar

The company is reassured by significant results coming from 2 independent laboratories where NQ core samples of hole GR-20-20 and GR-20-22 were analysed at ALS and NQ core samples of hole GR-20-22 were analysed at SGS.

The company will proceed with sampling of the entire hole to enable disclosure of mineralized lengths associated with grades as well as investigation on the mineralogy as the grades of interest are not confined to one geological unit.

Co-ordinates of these holes have been determined by handheld GPS and will be surveyed in spring.

GR-20-20: 645 968E, 5 339 544N, 292Z, Azimuth 183N, Dip -86 and length 588m

GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,600m

QA/QC

The insertion of blanks and standards by the technical team in the program were aimed at gold. However, the laboratory QA/QC results for these anomalous elements at both laboratories are in line with their expected values thereby allowing the public disclosure of the values.

Qualified person

The technical information in this news release has been reviewed by Claude Duplessis, P.Eng., GoldMinds Geoservices Inc. m ember of Québec Order of Engineers and a qualified person in accordance with National Instrument 43- 101 standards.

Cesium

Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells. Cesium-bromide is used in infrared detectors, optics, photoelectric cells, scintillation counters, and spectrophotometers. Cesium carbonate is used in the alkylation of organic compounds and in energy-conversion devices, such as fuel cells, magneto-hydrodynamic generators, and polymer solar cells. Cesium chloride is used in analytical chemistry applications as a reagent, in high-temperature solders, as an intermediate in cesium metal production, in isopycnic centrifugation, as a radioisotope in nuclear medicine, as an insect repellent in agricultural applications, and in specialty glasses. Cesium-hydroxide is used as an electrolyte in alkaline storage batteries. Cesium-iodide is used in fluoroscopy equipment—Fourier-transform infrared spectrometers—as the input phosphor of x-ray image intensifier tubes, and in scintillators. Cesium-nitrate is used as a colorant and oxidizer in the pyrotechnic industry, in petroleum cracking, in scintillation counters, and in x-ray phosphors. Cesium sulfates are soluble in water and are thought to be used primarily in water treatment, fuel cells, and to improve optical quality for scientific instruments.

Rubidium ( Alkali Metal)

Applications for rubidium and its compounds include biomedical research, electronics, specialty glass, and pyrotechnics. Specialty glasses are the leading market for rubidium; rubidium carbonate is used to reduce electrical conductivity, which improves stability and durability in fiber optic telecommunications networks. Biomedical applications include rubidium salts used in antishock agents and the treatment of epilepsy and thyroid disorder; rubidium-82, a radioactive isotope used as a blood-flow tracer in positron emission tomographic imaging; and rubidium chloride, used as an antidepressant. Rubidium atoms are used in academic research, including the development of quantum-mechanics-based computing devices, a future application with potential for relatively high consumption of rubidium. Quantum computing research uses ultracold rubidium atoms in a variety of applications. Quantum computers, which have the ability to perform more complex computational tasks than traditional computers by calculating in two quantum states simultaneously, were expected to be in prototype phase by 2025. Rubidium's photoemissive properties make it useful for electrical-signal generators in motion-sensor devices, nightvision devices, photoelectric cells (solar panels), and photomultiplier tubes. Rubidium is used as an atomic resonance-frequency-reference oscillator for telecommunications network synchronization, playing a vital role in global positioning systems. Rubidium-rich feldspars are used in ceramic applications for spark plugs and electrical insulators because of their high dielectric constant. Rubidium hydroxide is used in fireworks to oxidize mixtures of other elements and produce violet hues. (source USGS)

Scandium (Rare Earth)

Is a strategic mineral in the province of Quebec as declared in the Critical & Strategic Mineral policy of the government of Québec to support the green development plan.

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 four shafts and three 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 3.5 to 5 grams per tonne gold.

Updated Mineral Resource

The updated resource at the Company's Granada Gold project in Rouyn-Noranda, Quebec was estimated by SGS Canada and outlined in a January 29, 2021 news release.  The final report was filed March 15, 2021 with an Effective date of December 15, 2020. The 43-101 Technical Report is titled: Granada Gold Project Mineral Resource Estimate Update, Rouyn-Noranda, Quebec, Canada authored by Yann Camus, P.Eng. and Maxime Dupéré, B.Sc, géo. Both of SGS Canada Inc.

Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion

Type

Category

Tonnes

Au (g/t)

Gold Ounces

In Pit

Measured 1

3,756,000

1.89

228,000

Indicated

1,357,000

2.55

111,000

Measured+Indicated

5,113,000

2.06

339,000

Inferred

34,000

11.29

12,000

Underground

Measured

37,000

4.22

5,000

Indicated

807,000

4.02

104,000

Measured+Indicated

844,000

4.03

109,000

Inferred

1,244,000

6.33

253,000

  1. 1. Cut-off grades are based on a gold price of US$1,600 per ounce, a foreign exchange rate of US$0.76 for CA$1, a gold recovery of 93%

  2. 2. Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell

  3. 3. Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes

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

For further information, please contact:
Frank J. Basa, P. Eng., President and CEO at 1-819-797-4144 or
Wayne Cheveldayoff, Corporate Communications, at 416-710-2410 or
waynecheveldayoff@gmail.com

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.

Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Gold Mountain Updates Mineral Resource Estimate at the Elk Gold Property

Gold Mountain Updates Mineral Resource Estimate at the Elk Gold Property

Gold Mountain Mining Corp. ("Gold Mountain" or the "Company") (TSX:GMTN)(OTCQB:GMTNF)(Frankfurt:5XFA) is pleased to announce an updated National Instrument 43-101 Mineral Resource Estimate following the conclusion of its Phase 2 drill program at the Elk Gold Project. An updated technical report will be filed on the Company's website and SEDAR within 45 calendar days of this disclosure

Keep reading... Show less

Best Gold Stocks on the TSX

Click here to read the previous best gold stocks article.

After reaching an all-time high last summer, the gold price has put out an underwhelming performance for much of 2021, leaving many investors wondering when it will take off again.

Values for the precious metal have failed to regain January’s momentum. Despite brief efforts in May and November, the gold price has struggled to stay above the US$1,800 per ounce mark.

For most of 2021, the yellow metal has battled a strengthening US dollar and gains in 10 year treasury yields. Investor risk appetite has also impeded growth for the safe haven asset.

Keep reading... Show less
Rockridge Announces Passing of Director Richard Kusmirski

Rockridge Announces Passing of Director Richard Kusmirski

Rockridge Resources Ltd. (TSX-V: ROCK ) (OTCQB: RRRLF ) (Frankfurt: RR0 ) ("Rockridge" or the "Company") announces with deep sorrow that a Director of the Company, Richard ("Rick") Kusmirski, P.Geo., M.Sc., passed away on Friday, Dec. 3 rd in Saskatoon, Saskatchewan, at the age of 68 after a lengthy illness. Rockridge wishes to extend our sincere condolences to his family, friends, and business associates. Rick was an accomplished exploration geologist with more than four decades of experience throughout the world but primarily focused in North America, specifically the Athabasca Basin. He has been an active member of the Saskatchewan mineral exploration and mining community for many years and will be dearly missed.

Rick actively participated in the discovery of a number of uranium, gold and base metal deposits, and for several years, in his capacity as Exploration Manager, he directed Cameco Corporation's uranium exploration projects in the Athabasca Basin. In 1999, Rick joined JNR Resources becoming Vice President of Exploration in 2000. Subsequently, he directed the exploration program that led to the discovery of the Maverick Zone on the Moore Lake uranium project with then partner Kennecott Canada. Rick later became JNR's President and CEO in January of 2001, and continued leading the company until February of 2013, JNR was acquired by Denison Mines Corp. by way of a friendly all-share take-over bid. Rick also served as the industry Chair and Director of the Exploration Section of the Saskatchewan Mining Association for many years and was a director of Rockridge Resources Ltd., Bessor Minerals Inc. and several other publicly traded companies.

Keep reading... Show less

Yamana Gold Receives Permit at Jacobina, Initiating Ramp Up of Phase 2 Expansion, Expects Fourth Quarter Company Wide Production to Exceed 270,000 GEO With Costs Tracking to Be the Lowest of the Year

YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) ("Yamana" or "the Company") is pleased to announce it has received the permit at its Jacobina mine to increase throughput to 10,000 tonnes per day ("tpd"). Throughput is expected to reach 8,500 tpd by the second quarter of 2022. At this processing rate production at Jacobina will increase through the second half of 2022 with a full year at a production level of 230,000 ounces per year beginning in 2023.

The Company is also reporting particularly strong operating performance from El Peñón and Cerro Moro, both of which were planned to have higher production in the last several months of the year as they sequenced into higher grade zones, all of which supports the Company's previous guidance that fourth quarter production will exceed 270,000 gold equivalent ounces ("GEO") (1 ) and annual production will exceed overall 2021 guidance of 1,000,000 GEO (1 ) . Fourth quarter all-in sustaining costs ("AISC") (2) are also expected to be the lowest of the year and are estimated to be approximately $980 per GEO (1 ) or lower, which is 7% below AISC (2) reported for the prior three quarters.

Keep reading... Show less

Newmont Announces Pricing of 2.600% Sustainability-Linked Senior Notes Offering

Newmont Corporation (NYSE: NEM, TSX: NGT) ("Newmont" or the "Company") announced today the pricing of its public offering of $1.0 billion aggregate principal amount of 2.600% sustainability-linked senior notes due 2032 (the "Notes"). Subject to customary conditions, the offering is expected to close on December 20, 2021. The offering is being made pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission.

The Notes will be senior unsecured obligations of the Company and will rank equally with the Company's existing and future unsecured senior debt and senior to the Company's future subordinated debt. The Notes will be guaranteed on a senior unsecured basis by the Company's subsidiary Newmont USA Limited.

Keep reading... Show less
Candelaria to Webcast Live at VirtualInvestorConferences.com Dec. 8, 2021

Candelaria to Webcast Live at VirtualInvestorConferences.com Dec. 8, 2021

Candelaria Mining Corp. (TSX-V: CAND, OTCQX: CDELF) (the " Company ") would like to invite individual and institutional investors, as well as advisors and analysts, to attend real-time, interactive presentation on VirtualInvestorConferences.com.

DATE: December 8, 2021
TIME: 7:30AM PST / 10:30AM EST
LINK: https://bit.ly/3d42UQf

Keep reading... Show less

Top News

Related News