GOLD: Granada updates resources in feasibility study

[caption id="attachment_1003726097" align="aligncenter" width="461"] A sample of visible gold from the Granada gold mine. (Image: Granada Gold Mine)[/caption] QUEBEC – SGS Canada has delivered an updated mineral resource of the Granada gold property near Rouyn-Noranda. Owner Granada Gold Mine, headquartered in Rouyn-Noranda, was also supplied with a revised block model for the entire area. Pit constrained measured and indicated resources are 22.4 million tonnes grading 1.13 g/t gold and containing 813,000 oz. The inferred resource is 6.9 million tonnes at 2.04 g/t and containing 455,000 oz. of gold. A gold cut-off of 0.4 g/t was used in these calculations. The Granada gold mine was active in the 1930s before fire destroyed the surface buildings. During that time it produced 50,000 oz. of gold.  The company has obtained all the necessary permits to begin the first mining phase as a “rolling start”, and stripping has already begun. Initial output will be 25,000 oz. of gold per year, rising eventually to 100,000 oz. per year. Additional information is available at www.GranadaGoldMine.com.