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. Initially, portions of drill holes GR-20-20 and GR-20-22 were sampled. The company has received preliminary assay results for GR-20-22. Based on recent assays for intervals sampled, the intervening intervals are being prepared and will be sent for assay to create a complete picture.
Highlights of drill hole GR-20-22 as of today:
- Intercepted 21 distinct mineralized zones.
- Zones range in core length from 177 meters to 2.8 meters.
- Rare Earths and Alkali metals of note identified to date are Caesium (Cs), Rubidium (Rb), Scandium (Sc), Zirconium (Zr), Cerium (Ce), Gallium (Ga), Hafnium (Hf), Neodymium (Nd) and Strontium (Sr). Others pending.
Highlights of Select Drill Core Intercepts:
Length | From | To | Cs | Rb | Sc | Zr | Ce | Ga | Hf | Nd | Sr |
metres | metres | metres | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm | ppm |
53.0 ( I ) | 1053.0 | 1106.5 | 6.55 | 340.2 | 0.96 | 724.3 | 123.0 | 32.5 | 18.3 | 34.4 | 150.9 |
35.0 ( II ) | 1291.0 | 1326.0 | 6.56 | 144.7 | 9.03 | 301.5 | 121.4 | 19.73 | 7.76 | 53.6 | 1285.4 |
30.0 ( III ) | 1596.0 | 1626.0 | 4.83 | 83.4 | 14.8 | 161.7 | 67.8 | 20.4 | 4.35 | 31.3 | 489.3 |
True widths are unknown at the moment.
Complete analysis of current 21 drill intercepts can be found on the GGM website (REE Interval Table).
Uses and Market Price Ranges of Rare Earths and Alkali Metals
Caesium is used to make special optical glass, as a catalyst promoter, in vacuum tubes and in radiation monitoring equipment. One of its most important uses is in the 'caesium clock' , or atomic clock. (
Rubidium's photoemissive properties make it useful for electrical-signal generators in motion-sensor devices, night vision devices, photoelectric cells (solar panels), and photomultiplier tubes. Rubidium is used as an atomic resonance-frequency-reference oscillator for telecommunications network synchronization, playing a vital role in global positioning systems with prices of
Scandium is one of the most expensive of all the natural elements. Prices for 99.99% pure scandium (RE: 99% min. | Sc/TREM: 99.99% min.) have fluctuated between
The leading consumers of zirconium metal are the chemical process and nuclear energy industries. (
Cerium metal is used in ferrocerium lighters for its pyrophoric properties. Cerium-doped YAG phosphor is used in conjunction with blue light-emitting diodes to produce white light in most commercial white LED light sources. Recent prices are
Gallium as an arsenide is used in the manufacture of devices such as microwave frequency integrated circuits, monolithic microwave integrated circuits, infrared light-emitting diodes, laser diodes, solar cells and optical windows with a price of
The leading use of hafnium metal is in superalloys with a price of
Neodymium is as a component in the alloys used to make high-strength neodymium magnets—powerful permanent magnets. These magnets are widely used in such products as microphones, professional loudspeakers, in-ear headphones, high performance hobby DC electric motors, and computer hard disks, where low magnet mass (or volume) or strong magnetic fields are required. Larger neodymium magnets are used in high-power-versus-weight electric motors (for example in hybrid cars) and generators (for example aircraft and wind turbine electric generators). Price is
Strontium is used in producing ferrite magnets and refining zinc. Modern 'glow-in-the-dark' paints and plastics contain strontium aluminate (
Equivalent Range Values of Intercepts
Equivalent Range Intercepts (I), (II), and (III) were calculated without Caesium and Rubidium as no active market for the metals could be identified at present. Inclusion into the Equivalent Range Value of intercepts would present values of 404.8 and
Equivalent Range Value for Intercept (I) is 80.8 to
In gold equivalents 1.36 g/t to 1.58 g/t over 53 meters. Gold
Equivalent Range Value for Intercept (II) is 110.9 to
In gold equivalents 1.87 g/t to 3.85 g/t over 35 meters.
Equivalent Range Value for intercept (III) is 133.6 to
In gold equivalents 2.25 g/t to 5.50 g/t over 30 meters.
Ten other rare earths and/or alkali metals are pending for inclusion into Equivalent Range Values.
Currently gold is mined from underground at values down to 2 g/t gold in
Processing and Refining Rare Earths and Alkali Metals
Conventional mining, milling, separations and finishing possible at a single site with a zero discharge.
"Granada's rare earth and alkali metal discovery was encountered during our deep drilling program for gold on the defined gold zone that is dipping at 50 degrees to the north towards the renowned Cadillac Break. Our target depth for the gold mineralization extension in the north of the Big Claim is about 2,500 meters," said
The company is taking action on characterizing the minerals of these elements. It has sent samples to SGS Minerals in
Results to date are from SGS independent laboratories where NQ core samples of hole GR-20-22 were analysed. 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 the hole have been determined by handheld GPS and will be surveyed in spring.
GR-20-22: 647 624E, 5 339 218N, 291Z, Azimuth 360N, Dip -65 and length 1,626m
QA/QC
The insertion of blanks and standards by the technical team in the program were in line with expected values. The laboratory QA/QC results for these anomalous elements at the laboratory are in line with their expected values thereby allowing the public disclosure of the values.
Qualified person
The technical information in this news release has been reviewed by
About
Updated Mineral Resource
The updated resource at the Company's Granada Gold project in
Updated Mineral Resource Estimate Base Case with Details Between the Open Pit Portion and the Underground Portion
Type | Category | Tonnes | Au (g/t) | Gold Ounces |
In Pit | Measured1 | 3,756,000 | 1.89 | 228,000 |
Indicated | 1,357,000 | 2.55 | 111,000 | |
Measured+Indicated | 5,113,000 | 2.06 | 339,000 | |
Inferred | 34,000 | 11.29 | 12,000 | |
Underground | Measured | 37,000 | 4.22 | 5,000 |
Indicated | 807,000 | 4.02 | 104,000 | |
Measured+Indicated | 844,000 | 4.03 | 109,000 | |
Inferred | 1,244,000 | 6.33 | 253,000 |
1. | Cut-off grades are based on a gold price of |
2. | Pit constrained mineral resources are reported at a cut-off grade of 0.9 g/t Au within a conceptual pit shell |
3. | Underground mineral resources are reported at a cut-off grade of 3.0 g/t Au within reasonably mineable volumes |
The Company is in possession of all mining 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. Additional information is available at www.granadagoldmine.com.
"Frank J. Basa"
President and Chief Executive Officer
Neither the
SOURCE
© Canada Newswire, source