ROUYN NORANDA, QC, March 23, 2021 /CNW/ - 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. member 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
|
Measured1
|
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.
|
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.
|
Pit constrained
mineral resources are reported at a cut-off grade of 0.9 g/t Au
within a conceptual pit shell
|
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
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.