Granada Gold Mine Inc. (TSX.V: GGM) discovers significant rare earth elements including - Scandium (Sc), Rubidium (Rb), and Cesium (Cs) on the Big Claim of the Granada Gold Mine property, in Quebec, Canada.
Results are preliminary and full core lengths have not yet been assayed in two holes drilled at the north of the Big Claim. The company encountered unusual facies of altered rock which has been sampled in portions of the drill core. The mineralized portions of the core have been assayed for 56 metals. Additional assays are pending. Portions of drill holes GR-20-20 and GR-20-22 were sampled. Assays for GR-20-22 are still pending. Based on recent assays for intervals sampled, the intervening intervals are being sent for assay to create a complete picture.
Highlights of drill hole GR-20-20:
- 13.5 ppm Cs, 101.8 ppm Rb, 21.0 ppm Sc over 12.0 meters from 351.0 meters to 363.0 meters
- 3.5 ppm Cs, 69.1 ppm Rb, 13.8 ppm Sc over 98.0 meters from 451.0 meters to 549.0 meters
- 1.1 ppm Cs, 42.1 ppm Rb, 12.2 ppm Sc over 15.0 meters from 573.0 meters to 588.0 meters
Core lengths represent approximately 40 percent true width.
The potential value of the rare earths and alkali metals per ppm in US dollars is as follows:
- Cesium (Cs) US Dollars 63 per ppm
- Rubidium (Rb) US Dollars 16.08 per ppm
- Scandium (Sc) US Dollars 186 per ppm
- Gold (Au) US Dollars 56 per ppm
- Silver (Ag) US Dollars 0.84 per ppm
Commodity price sources:
- Institute of rare earths and strategic metals
- USGS 2021 and 2020 reports
- Alfa Aesar
The company is reassured by significant results coming from 2 independent laboratories where NQ core samples of hole GR-20-20 and GR-20-22 were analyzed at ALS and NQ core samples of hole GR-20-22 were analyzed at SGS.
The company will proceed with sampling of the entire hole to enable disclosure of mineralized lengths associated with grades as well as investigation on the mineralogy as the grades of interest are not confined to one geological unit.
Co-ordinates of these holes have been determined by handheld GPS and will be surveyed in spring.
GR-20-20: 645 968E, 5 339 544N, 292Z, Azimuth 183N, Dip -86 and length 588m
GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,600m
The insertion of blanks and standards by the technical team in the program were aimed at gold. However, the laboratory QA/QC results for these anomalous elements at both laboratories are in line with their expected values thereby allowing the public disclosure of the values.
Granada Gold Mine Inc. (TSX.V: GGM) has 105M shares outstanding, and is currently trading at $0.17, giving it a market cap of $17.85M.
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