Gold mid-tiers’ Q3 2024 fundamentals
All-time-high gold prices combined with relatively-contained costs catapulted unit earnings to another epic record.
Based in Rouyn-Noranda, Quebec, Granada Gold Mine has shared the first results from the current drill program at its 100% owned Granada gold deposit in the same town. Hole GR-19-E cut 2.0 metres of 12.32 g/t gold, including 48.8 g/t over 0.5 metre. Coarse, native gold was seen in the core. More assays are pending.
The former Granada mine was active in the 1930s. It produced more than 50,000 oz. of gold from veins 1, 2 and 5.
The former Granada mine was active in the 1930s. It produced more than 50,000 oz. of gold
The current drill program is testing the continuity between the mineralized intersections of previous drill holes that intersected the Long Bars zone. This zone trends 2 km east-west over a potential 5.5-km of potential gold-bearing structure. The property has bulk sampled by open pit in 1994, 1996, and 2007.
Resources at the Granada mine are 22.3 million measured and indicated tonnes grading 1.06 g/t gold for 762,000 contained oz. of gold. The inferred resource is 6.9 million tonnes averaging 2.04 g/t for 455,000 contained oz.
(This article first appeared in the Canadian Mining Journal)
