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So far in 2015, three trenches have been completed in the area covering the smallest proposed pit located furthest west with channel sampling from the middle trench, TR15-11, returning 6.05 g/t Au over 8 m including 14.98 g/t Au over 3 m.

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Message: Conservative estimate, I think

Here are the pertinent figures from the news release --

The table below summarizes the SGS Geostat block model estimates using variable cut-off grades:

Granada Gold Deposit In Situ Resource Estimates
Class Tonnage Au g/t Au Cut-off
(,000) tonnes Grade Oz
Measured 100 4.56 14,400 3.0+
300 3.24 26,300 2.0+
900 1.88 56,300 1.0+
1,100 1.74 61,100 0.9+
1,300 1.59 67,500 0.8+
1,600 1.46 73,100 0.7+
1,900 1.30 80,700 0.6+
2,400 1.16 88,600 0.5+
3,000 1.01 97,700 0.4+
4,000 0.85 108,100 0.3+
Indicated 600 4.67 97,500 3.0+
1,400 3.41 161,000 2.0+
4,600 1.99 306,300 1.0+
5,400 1.84 329,700 0.9+
6,500 1.67 361,500 0.8+
7,700 1.52 392,400 0.7+
9,800 1.34 436,400 0.6+
12,500 1.17 485,200 0.5+
16,400 0.99 543,400 0.4+
22,700 0.81 614,500 0.3+
Inferred 1,700 4.48 255,800 3.0+
2,900 3.60 346,700 2.0+
6,500 2.35 513,600 1.0+
7,600 2.16 545,700 0.9+
9,500 1.90 600,700 0.8+
10,900 1.74 636,800 0.7+
13,500 1.53 692,200 0.6+
17,800 1.30 768,800 0.5+
23,100 1.10 846,600 0.4+
33,200 0.87 961,300 0.3+
Note: rounded numbers, base case cut-off >0.4 g/t


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