Rouyn resource of 762K Oz of gold
Granada Gold Mine activities aimed at exploration and development as follow-up to the Company’s recently updated resource estimate at its Granada Gold project in Rouyn-Noranda, Quebec. The Company Estimate resource with 762 K ounces of gold in the Measured and Indicated categories, plus 455K ounces of gold in the Inferred category.
The report entitled, “Granada Gold Project Mineral Resource Estimate Rouyn-Noranda, Quebec, Canada”, was written by SGS Canada Inc.
Frank J. Basa, P.Eng, Chairman and CEO of Granada Gold Mine, stated, “These robust numbers confirm our longstanding belief in the merits of this property, and they form the backbone for our next efforts. We intend to see how we can turn Granada into a bulk-tonnage mine, and we believe the improving mining markets position us well for this effort.”
The authors of the report, Independent Qualified Persons Allan Armitage, and Maxime Dupere, conclude that there is “…significant potential for delineation of additional Mineral Resources and that further exploration is warranted.”
GGM’s next steps are to build on the above Current Resources. The Company has begun activities which aim to add resources through exploration drilling. Development activities will initially be focused on the process of evaluating the economic and engineering aspects of the Current Resources.