ROUYN-NORANDA, QC, March 18, 2019 /CNW/ - Granada Gold Mine
(TSXV: GGM) ("Granada Gold" "GGM" or the "Company") is pleased to
report on the results of a preliminary gravity separation study
that demonstrates the positive impact of pre-concentrating
lower-grade, gold-bearing rock from its Granada Gold project in
Rouyn-Noranda, Quebec.
The higher grades attained during the tests may have
implications for the grade of future mill feed, the size of the
gold deposit, and the costs associated with future mine
production.
Mr. Frank Basa, Chairman and CEO
of Granada Gold, stated, "These metallurgical results can
further de-risk the project and provide additional processing
options for the company, and they potentially expand the existing
resource by lowering the average gold grade that could be mined and
processed using pre-concentration by gravity separation."
The preliminary gravity test work, part of a suite of tests on
rock samples from the Current Resources at the Granada Gold Mine
project, was conducted by industry leader Gekko Systems of
Ballarat, Australia. Their
innovative pre-concentration system increases recovery values,
reduces ore mass and waste, reduces water use, lowers power
requirements, and improves feed rates, all potentially meaning
lower capital and operating costs for Granada along with higher recovery rates.
To summarize results, a 260-kilogram sample of low-grade drill
core assaying 0.6 grams of gold per tonne was upgraded to 6.0 grams
per tonne with a 60 percent overall recovery. The Gekko
laboratory processed the sample by crushing through different size
fractions, homogenized, and split according to standard lab
practices. Gravity tests were conducted on coarse and fine
fractions, approximately +600 µm and -150 µm, respectively.
A grade of 21 grams per tonne gold was achieved from the coarse
size fraction, with a recovery of 40%, resulting in an upgrade
ratio (conc./feed) of 35. The test result which recovered the
most gold has a gravity concentrate grade of 6.0 grams per tonne
gold with a gold recovery of 60 percent (see Table 1 below).
Management of Granada Gold understand that conventional mining
and processing leave behind significant amounts of gold and other
metals which could have potential economic value.
"As a result of this preliminary work, we believe that employing
disruptive technologies on lower grade ore to pre-concentrate the
mineralized material for process plant feed can be advantageous,"
said Basa. "This approach can be used to evaluate the potential to
increase the gold resource and other recoverable metals which, in
turn, will lower project capital and operating costs."
TABLE 1. Gekko Study Gravity Test Results
Sample
|
Conc.
Mass
Yield (%)
|
Au
Recovery
(%)
|
Ni
Recovery
(%)
|
S
Recovery
(%)
|
Cu
Recovery
(%)
|
Conc. Au
Grade
(ppm)
|
Upgrade
Ratio
(Conc/Feed)
|
Coarse Gravity Test,
P100 1.18mm and P100 0.6µm
|
Coarse
|
1.1
|
39.1
|
6.6
|
41.9
|
5.1
|
21.3
|
35.5
|
Coarse
|
3.3
|
54.5
|
10.6
|
60.7
|
16.4
|
9.8
|
16.3
|
Coarse
|
5.9
|
59.7
|
13.3
|
65.8
|
18.9
|
6.0
|
10.0
|
Fine Gravity Test,
P100 850, 425 and 150µm
|
Fine
|
1.3
|
33.0
|
3.3
|
34.4
|
5.1
|
14.6
|
24.3
|
Fine
|
3.1
|
47.0
|
6.8
|
54.4
|
10.7
|
8.8
|
14.7
|
Fine
|
4.9
|
51.0
|
8.4
|
58.7
|
13.7
|
6.0
|
10.0
|
In a related matter, the company has also begun a test program
using the pilot plant of its sister company, Canada Cobalt Works
(TSXV: CCW). In this first round of tests, a 120-kilogram sample of
low-grade mineralized rock from the Granada Gold Mine waste dump
was processed by screening the material into three screen sizes
followed by gravity separation. These concentrates were then
analyzed for gold, silver, cobalt, nickel, and copper (see Table 2
below).
TABLE 2. GGM Waste Rock Head Assay
Sample
|
Au (g/t)
|
Ag (g/t)
|
Co (ppm)
|
Ni (ppm)
|
Cu (ppm)
|
Coarse Head Assays,
P100, 0.84mm, 0.84mm - 3.2mm, 3.2mm - 19mm
|
Coarse
|
1.01
|
0.6
|
34
|
84
|
134
|
Coarse
|
0.34
|
0.2
|
23
|
74
|
88
|
Coarse
|
1.54
|
1.8
|
42
|
0
|
86
|
The results are head assays of each screen class. Gravity assay
test results are pending, with a particular focus on recoverable
base metals.
The current feasibility study for the onsite gold mine and plant
at Granada has been put on hold
pending results of the metallurgical studies. The environmental
studies to install a 600-tonne-per-day gravity leach plant are
ongoing at the Canada Cobalt Works Castle mine. The flowsheet has
been completed and equipment has been sourced.
Qualified Person
The technical information in this news release was prepared
under the supervision of Frank J.
Basa, P.Eng., Granada Gold Mine's Chairman and Chief
Executive Officer, who is a member of Professional Engineers
Ontario and a qualified person in accordance with National
Instrument 43-101.
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.
The Company is in possession of all 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, capable of
producing up to 675,000 tonnes of ore over a 3-year period.
Additional information is available at www.granadagoldmine.com.
"Frank J. Basa"
Frank J. Basa P. Eng.
Chief Executive Officer and Chairman
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.