QUEBEC – Gold Bullion Development Corp. of Vancouver has updated the resource estimate for its Granada gold project 5 km south of Rouyn-Noranda. The company says there is are as many as 1.6 million oz of gold at the property when a cut-off of 0.4 g/t Au is applied.
The aforementioned ounces are to be found in 47.48 million measured and indicated tonnes grading 1.05 g/t Au. There is also an inferred resource of 29.98 million tonnes at 1.07 g/t Au. Gold Bullion says the mineralization is open both laterally and at depth.
The Granada deposit was originally staked in 1922. An underground mine was brought into production in 1930 and a 180-t/d mill at the site recovered approximately 51,500 oz of gold until a fire destroyed the surface buildings in 1935. Approximately 2,200 oz of gold were mined in 2000 before Gold Bullion acquired the property in 2006.
Details of the Granada gold project are available at GoldBullionDevelopmentCorp.com.