Production / Operations Material +

Granada Gold Mine Demonstrates 2.7x Grade Uplift on Open-Pit Mineralization through Ore Sorting at Saskatchewan Research Council

Ore Sorting Test Boosts Open-Pit Economics Ahead of Resource Update

By The Northwire Desk — AI Analysis Apr 28, 2026 · 09:01 GGM · 0.045 Granada Gold Mine Inc.

Executive Summary

Granada Gold Mine Inc. announced on 2026-04-28 that independent ore-sorting tests at the Saskatchewan Research Council (SRC) demonstrated a 2.7x gold-grade uplift on open-pit mineralization.
XRT sorting technology upgraded head grades from 2.93 g/t to 7.87 g/t Au with an 88% recovery rate.
Approximately 67.8% of material was rejected as waste before processing, significantly reducing mill throughput requirements.
Laser sorting tests also showed grade uplift (1.22 g/t to 5.13 g/t) but with lower gold recovery (41.5%).
Management states these results indicate potential for reduced capital intensity, lower operating costs, and decreased tailings volume.
The company intends to incorporate these results into a forthcoming updated technical report.

Material Impact

Positive Economic Shift: A 2.7x grade uplift on open-pit material fundamentally alters the project's economics by lowering the cut-off grade required for profitability and reducing processing costs per ounce. This directly addresses previous concerns regarding capital intensity mentioned in earlier financing rounds.
Validation of Strategy: The results validate the company's focus on developing a shovel-ready open-pit resource, aligning with the October 2025 announcement reviewing 1 g/t cut-off potential.
Risk Mitigation: By rejecting two-thirds of waste early, the project reduces environmental footprint and tailings management costs, which is increasingly critical for permitting in Quebec.
Caveats: The test program utilized a single 500-kilogram sample. While promising, this does not yet constitute a full resource update or feasibility study. The impact remains theoretical until incorporated into an NI 43-101 compliant technical report.
Comparison to History: Unlike the February 2026 financing (routine capital raise) or January structural updates (paused drilling), this news provides new operational data that could materially change valuation models for the project.

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Company Overview

Company: Granada Gold Mine Inc. focuses on the development of the 100% owned Granada Gold Property near Rouyn-Noranda, Quebec.
Flagship Project: The property contains historic underground mines (1930s) and open pits. Current strategy targets an open-pit operation supported by existing infrastructure potential.
Resources (August 2022 NI 43-101):
- Measured & Indicated: 8,220,000 tonnes at 2.05 g/t Au = 543,000 ounces.
- Inferred: 3,010,000 tonnes at 4.71 g/t Au = 456,000 ounces.
Exploration: Over 158,000m drilled historically; current program planned for 120,000m (paused as of Jan 2026). Only ~20% of the 2km east-west mineralized corridor has been explored.

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