Granada's Deep Drill Program: Unlocking High-Grade Gold Potential
Wednesday, Oct 23, 2024 1:16 pm ET
2min read Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6DA.F) has announced a comprehensive deep drill program to test high-grade gold results, with particular focus on the Big Claim area north of the current open pit resource. This strategic move aims to define the extent of gold mineralization within the 2-kilometer east-west strike length of the greater 5.5-kilometer defined mineralized gold structure, which is expected to extend beyond 1,600-meter vertical depth.
The drill program is a continuation of a planned 120,000-meter drill program, with 20,000 meters already completed. The program has already yielded impressive results, including:
* 55.9 g/t gold over 1.00 meters in hole GR-16-14, included in 14.5 g/t gold over 4 meters from 881 to 885 meters.
* 45.7 g/t gold over 1.00 meters in hole GR-18-03, included in 8.39 g/t gold over 6 meters from 572 to 578 meters.
* 107.9 g/t gold over 4.00 meters in hole GR-20-21 from 617.4 to 621.4 meters.
These high-grade results align with Granada's strategy to systematically evaluate the property's high-grade potential at depth, in line with historical production that averaged between 9 and 10 grams per tonne gold. The drill program is expected to support an updated gold resource at depth, which could significantly enhance the project's economic viability.
The geological factors contributing to these high-grade gold results include the presence of multiple mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically, with historical underground grades of 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m, and open pit grades from 3.5 to 5 grams per tonne gold.
The drill program's focus on high-grade gold results influences Granada's mining strategy and potential profitability by expanding the known resource base and increasing the average grade of the mineralization. This could lead to improved project economics, including a higher net present value (NPV) and internal rate of return (IRR). Additionally, the success rate of the drill program is crucial for the project's NPV, as it directly impacts the overall resource estimate and mine life.
The drill program's results also have the potential to impact Granada's market position and investor sentiment. Positive results could attract more investors, increase the company's market capitalization, and enhance its reputation within the broader mining industry. However, metallurgical test results will also play a crucial role in the project's economic viability, as they will determine the recoverability and processing costs of the ore.
In conclusion, Granada's deep drill program is a strategic move to unlock the high-grade gold potential of the Big Claim area. The program's success could significantly enhance the project's economic viability, mining strategy, and market position. As the drill program progresses, investors and stakeholders should closely monitor the results and their impact on the project's NPV, IRR, and overall economic viability.
The drill program is a continuation of a planned 120,000-meter drill program, with 20,000 meters already completed. The program has already yielded impressive results, including:
* 55.9 g/t gold over 1.00 meters in hole GR-16-14, included in 14.5 g/t gold over 4 meters from 881 to 885 meters.
* 45.7 g/t gold over 1.00 meters in hole GR-18-03, included in 8.39 g/t gold over 6 meters from 572 to 578 meters.
* 107.9 g/t gold over 4.00 meters in hole GR-20-21 from 617.4 to 621.4 meters.
These high-grade results align with Granada's strategy to systematically evaluate the property's high-grade potential at depth, in line with historical production that averaged between 9 and 10 grams per tonne gold. The drill program is expected to support an updated gold resource at depth, which could significantly enhance the project's economic viability.
The geological factors contributing to these high-grade gold results include the presence of multiple mineralized structures trending east-west over five and a half kilometers. Three of these structures were mined historically, with historical underground grades of 8 to 10 grams per tonne gold from two shafts down to 236 m and 498 m, and open pit grades from 3.5 to 5 grams per tonne gold.
The drill program's focus on high-grade gold results influences Granada's mining strategy and potential profitability by expanding the known resource base and increasing the average grade of the mineralization. This could lead to improved project economics, including a higher net present value (NPV) and internal rate of return (IRR). Additionally, the success rate of the drill program is crucial for the project's NPV, as it directly impacts the overall resource estimate and mine life.
The drill program's results also have the potential to impact Granada's market position and investor sentiment. Positive results could attract more investors, increase the company's market capitalization, and enhance its reputation within the broader mining industry. However, metallurgical test results will also play a crucial role in the project's economic viability, as they will determine the recoverability and processing costs of the ore.
In conclusion, Granada's deep drill program is a strategic move to unlock the high-grade gold potential of the Big Claim area. The program's success could significantly enhance the project's economic viability, mining strategy, and market position. As the drill program progresses, investors and stakeholders should closely monitor the results and their impact on the project's NPV, IRR, and overall economic viability.
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