Granada New - The Assay

Granada New

Granada Gold Mine

Granada Gold Mine
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Granada Gold Mine

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Company Overview

Granada Gold Mine Inc. is a Canadian junior mining and exploration company with Gold and Silver properties in Quebec and Ontario. The Company’s current focus is directed towards the development and continued exploration of the Granada Property situated in the heart of the famous Abitibi Greenstone Belt and along the prolific “Cadillac Trend”. This potential high-tonnage, near-surface deposit is located 15 minutes from Rouyn-Noranda Quebec. The Rouyn-Noranda airport offers easy access into the area and on to paved roads to the mine site. The area offers excellent infrastructure and a good supply of skilled labour throughout the region.

Investment Highlights

• Undervalued company, valued well under US$10/oz
• Strategy to move from developer to producer
• CSR shares-warrants are being paid to GGM as part of spin-off of cobalt- silver properties to Castle
• 5.0 million shares of silver-cobalt explorer Castle Silver Resources Inc. (TSXV: CSR), along with 5.0 million warrants, to be distributed to GGM shareholders
• 2.5 million to be distributed on 27 February 2018 and another 2.5 million on 27 February 2019
• Warrants to allow GGM shareholders to purchase CSR shares at $0.10/share for a year from date of issue
• 3% net smelter royalty (NSR) to be paid as gold or cash dividend to shareholders after Granada production begins
• 1% NSR on properties owned by Castle Silver to be paid out as cash dividends to shareholders

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Frank J. Basa – President, CEO & Chairman
Jacques F. Monette – Director
Thomas P. Devlin – Chief Financial Officer
Ronald Goguen, Sr. – Director
Dianne Tookenay – Director
Tina Whyte – Corporate Secretary

Major Shareholders

Marquest Asset Management – 7.6%
Management – 4.8%

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Projects Overview

Production History

• Underground mining and milling from 1930 to 1935
• Produced over 51,476 oz Au from 181,744 tons averaging 9.7 g/t Au and 1.5 g/t Ag
• Mining stopped when fire destroyed the surface structures in 1935

The Granada Gold Mine

Granada New

Granada New
Development Plans

  • • Carry out Feasibility Study for a new mill at Granada, producing 100,000 oz/yr Au
    • Memorandum of understanding signed with Castle Silver whereby Castle is undertaking a study to install a 600 t/d gravity flotation plant at one of its northern Ontario properties
    • Castle mill to process 579,000 tonnes of Granada ore at 4.24 g/t Au (as per 2014 PFS) with an option for another 2 million tonnes of mineralised material over 3 yrs
Exploration Targets

  • • High-grade Aukeko Mine site where bulk samples in 1938 averaged 240 g/t Au; trenching and drilling permits obtained in Nov 2017
    • Genesis Target, potential source of in-situ gold in northwest section of LONG Bars Zone
    • Deep holes at depth in area north of surface in-pit resources
    • Infill drilling to convert Inferred Resource to Measured or Indicated Resource
    • 80% of strike length yet to be explored
PFS released 19th JUNE 2014 – Granada (Phase I) 3-Year High-Grade “Rolling Start” – PFS Base Case Highlights *

  • Granada New
  • *All figures in Canadian dollars except where specified. Source: 43-101 Technical Report Prefeasibility Study (PFS) Phase I – Open Pit Granada Gold Project Rouyn-Noranda, Québec, published June 19, 2014, effective date May 6, 2014. Claude Duplessis, Eng. Gilbert Rousseau, Eng. Jonathan Gagné, Eng. Martin Stapinsky, P.Geo.,M.Sc.,Ph.D, are the independent qualified persons in accordance with National Instrument 43-101.
Granada Gold Mine, May 2017 Mineral Resource Estimate (from 122,000m of drilling)*

  • Granada New
  • Measured & Indicated open‐pit constrained at 0.39 g/t Au cut off ($21.30 per tonne). Inferred underground north of open‐pit at 1.5 g/t Au cut‐off ($81.99 per tonne). Resource estimate by GoldMinds Geoservices Inc. Mineral resources are not mineral reserves and do not demonstrate economic viability.
Granada New

Contact Details



PHONE: +1 (416) 710-2410

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