Granada Gold Mine Inc
The Granada Gold Deposit is an advanced exploration project favorably located among operating gold mines on the prolific Cadillac Break in Quebec.
It has an independent resource estimate of 1.2 million oz gold in an open pit, but with the potential to increase this significantly to establish another 1-2 million oz of mostly underground resources given that only 20% of the potential 5.5 km strike length has been explored so far.
Recent news includes a surprise discovery of exceptional high-grade gold veins near the surface (ex. 11.45 g/t gold over 33 meters) which boosts the attractiveness of high-grade open-pit mining.
Immediate plans are for further drilling and bulk samples to unlock the high-grade potential of the open pit and to expand underground resources, while continuing with engineering work towards beginning gold production.
GGM's market cap (under US$10/oz gold resource) is severely undervalued in comparison with other gold juniors, especially given that open-pit mining permits are in place and past engineering studies have demonstrated the viability of mining up to 100,000 oz gold per year from the deposit.