Frank Basa on restructuring Granada Gold’s project to a high-grade deposit

In a recent InvestorIntel interview, Tracy Weslosky spoke with Frank Basa, President, CEO, and Director of Granada Gold Mine Inc. (TSXV: GGM) about restructuring its Granada gold project to a high-grade deposit.

In this InvestorIntel interview, which may also be viewed on YouTube (click here to subscribe to the InvestorIntel Channel), Mr. Basa said that with the recent release of new resource numbers, Granada Gold has converted the previous low-grade 1 g/t Au open pit to a higher-grade deposit with a combined smaller 2 g/t open pit and a potentially much larger 4 g/t underground. The company intends to continue with its 120,000 meter drill program to significantly upgrade the resource to about 2.5-3 million ounces, the majority of which will be underground at 4 g/t. “4 g/t underground on the Cadillac Break, very few people have that,” said Mr. Basa.

He also commented on the competitive advantages of the Granada gold project’s location on the Cadillac Break. “The majors are showing up. They are looking for companies…If we hit 2.5-3 million ounces…we are looking at ourselves as a takeout target,” said Mr. Basa.

To watch the full interview, click here

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 two shafts and two 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 5 to 3.5 grams per tonne gold.

To learn more about Granada Gold Mine Inc., click here

Disclaimer: Granada Gold Mine Inc. is an advertorial member of InvestorIntel Corp.

Frank Basa on intersecting high-grade gold near surface at Granada Gold Property

“The deposit that we have was actually mined as a high-grade mine historically. Was about 10 grams a ton…The previous operator took out 14,500 ounces at 5 grams a ton. We decided to work on that extension going east…We are getting grades like 11-13 grams a ton. We are going to carry out near surface drill program and extend that. The structure is 5.5 km long and we have looked at only 500m of it. We are shovel ready. We have all the permits and we can ship the rock anytime to any mill in Quebec.” States Frank Basa, President, CEO and Director of Granada Gold Mine Inc. (TSXV: GGM), in an interview with InvestorIntel’s Tracy Weslosky.

Frank went on to say that its not normal to have to an open pit mine grading 5 grams a ton as most mines have about 1 gram a ton. He added the mine doesn’t have any overburden. Frank also provided an update on Granada Gold’s latest drill results. He said that the drill results were very good. The company drilled 33 meters of over 10 grams a ton near the surface.

To access the complete interview, click here

Disclaimer: Granada Gold Mine Inc. is an advertorial member of InvestorIntel Corp.