Granada Gold Mine Structural Interpretation Supports Additional Drill Targets

Core Viewpoint - Granada Gold Mine Inc. is advancing its exploration and development efforts at the Granada Gold Property, with significant drilling completed and potential for further discoveries in the mineralized structure [1][8]. Geological Insights - The geological consultants have identified a higher structural complexity in the southern part of the property, indicating the need for further exploration of northwest- and northeast-trending faults [2]. - An updated geological map is recommended to integrate historical data and create a comprehensive structural framework for a 3D model [3]. Mineral Resource Estimate - As of August 22, 2022, the Granada deposit contains an updated mineral resource estimate of 543,000 ounces of gold in the Measured and Indicated category and 456,000 ounces in the Inferred category [5][7]. - The resource estimate is based on a base case cut-off grade of 0.55 g/t Au for pit-constrained resources and 2.5 g/t for underground resources [5]. Historical Context - The Granada Gold Property has a history of production, with over 50,000 ounces of gold extracted at an average grade of 10 g/t from the 1930s, and significant bulk samples taken in the 1990s [9][10]. - Historical underground grades ranged from 8 to 10 g/t Au, while open pit grades were between 3.5 to 5 g/t Au [9]. Current Operations - The company is currently conducting a large drill program, with 20,000 meters completed out of a planned 120,000 meters, and is pausing drilling to evaluate existing data and market conditions [8].