The above intercept, from the extended Long Bars zone, began at 18.5m.
President and CEO Frank Basa said the drilling programme had been designed to unlock the high-grade potential of mineralised intersections near surface, identified from previous drill holes.
"These preliminary results highlight the potential of near-surface, high-grade mineralisation and continue to support higher grades that are in line with historic production grades of 8-10g/t gold when it was mined in the 1930s from the two shafts," he said.
The sister company to Canada Cobalt Works said it was permitted to make a "rolling start" at the Granada gold project and mine up to 550t per day.
The project has a 2019 measured and indicated resource comprising 22.3 million tonnes grading 1.06g/t gold for 762,000oz and an inferred 6.9Mt at 2.04g/t for 455,000oz.
Granada acquired the project in 2006 and is among the explorers busy on the Abitibi Greenstone Belt straddling Ontario and Quebec.
It raised about C$925,000 (US$701,000) in September at 10c per unit for surface exploration, trenching, resampling historical Granada core and for general working capital purposes.
Its shares, which had reached 23c in February, rose 15% or 1.5c yesterday to close at 11.5c, near a 52-week low of 9c touched in May.
It is capitalised at $9.3 million (US$7 million).
