Golden Corridor Zone

A potentially significant, highly altered boulder train with 3-5% sulphides was first recognized in 2012 during preliminary work on the Castle property. The boulder train extends for 260 metres from the north shore of Miller Lake. In 2014 a new mineral occurrence was discovered by following the boulder train to EXTENSION 7929 on the Castle Mine property. Initial sampling #42028 from trench D returned gold grades of 1.32 g/t with other values listed below.

 Trench Sample Gold Copper
C. Channel #42070 0.26 g/t 1.032 %
D. Grab #42049 1.25 g/t N/A

In 2015 more evidence to support the overall gold hosting potential of the Castle property emerged with the indication of a prospective second gold mineralization zone to the north of 2014’s trenching activities based on the mineralized boulders north of the strongly mineralized zones.

These channel sampling results from the 2014 trenching indicated a grade of 2.24 g/t Au over 2.20 m along Channel 4 in Trench D3 including one channel sample of 3.77 g/t Au over 1.27 metres. In Trench D1, Channel B indicated a grade of 0.77 g/t over 3.98 m including a sample grading 1.25 g/t Au over 0.83 m.
On June 30th 2016 Canada Silver Cobalt Works entered into an agreement with Gold Bullion, now Granada Gold Mine Inc. that gave Granada Gold a 50% interest in this new high-grade gold exploration target that was then named the “Castle Golden Corridor Zone”.

cooriderThis zone is in a geological setting similar to that of the 40 million ounces of gold past producer Kirkland Lake located 75 km to the northeast. The Castle Golden Corridor Zone occurs within highly altered Archean rocks and is part of a distinct east west regional gold trend that stretches for at least 150 km. This trend has been confirmed to cut through the Castle Property and the Gowganda mining camp, which historically were only explored for very high grade silver within the Nipising Diabase.

Boulder tracing, channel sampling, trenching, geophysics, and MMI soil surveys show structurally aligned anomalies, all of which suggests that the Castle Golden Corridor Zone, currently defined over a distance of 800 meters, is prospective for a high grade hydrothermal related gold system with copper to a depth of approximately 300 meters.

In the first quarter of 2017 a geophysical survey was conducted for the purpose of testing an area outside and immediately east of the past producing areas which included the Golden Corridor Zone. The geophysical survey involved induced polarization (IP) over eight lines of approximately 1.8 km each aimed at identifying IP anomalies.