Granada Gold Mine Inc (CVE:GGM) (OTCMKTS:GBBFF) (FRA:B6DA) has discovered rare earth and alkali metals in two holes drilled at the north of the Big Claim at its Granada gold mine project in Quebec, Canada.
These are preliminary results and full core lengths have not yet been assayed, the company noted as it reported 13.5 parts per million (ppm) Cesium (Cs), 101.8 ppm Rubidium (Rb), and 21.0 ppm Scandium (Sc) over an intercept of 12 meters (m) from a depth of 351m to 363m in one hole.
Also uncovered was 3.5 ppm Cesium, 69.1 ppm Rubidium, 13.8 ppm Scandium over 98m from 451m to 549m depth.
According to the company's statement, the potential value per ppm in US dollars is US$ 63 per ppm for Cesium, US$16.08 per ppm for Rubidium and US$186 per ppm for Scandium.
Rubidium is an alkali metal and its uses include biomedical research, electronics, specialty glass, and pyrotechnics. Rare earth Scandium has been declared a strategic mineral in the province of Quebec and is used in high-intensity lighting and mercury vapor lamps used in movies and photography.
Cesium metal is used in the production of cesium compounds and potentially in photoelectric cells.
Around 120,000m of drilling has been completed at the firm's Granada gold property near Rouyn-Noranda, Quebec, mainly focused on the extended LONG Bars zone, which trends 2 kilometers (km) east-west over a potential 5.5km of mineralized structure.
An updated resource estimate was carried out by SGS Canada and outlined in a news statement in January this year.
The in-pit measured and indicated (M&I) combined resource was pegged at 339,000 gold ounces, while M&I gold ounces underground was estimated at 109,000.
Contact the author at giles@proactiveinvestors.com