Granada Gold Mine Applies for Drill Permits to Expand Mineral Resources
Granada filed a permit application for planned drilling at its project, with the resource update already priced in.
Granada Gold Mine Inc. has applied for drill permits at its 100%-owned Granada Gold Project in Quebec. The upcoming drilling program will combine infill drilling to improve resource confidence with exploration drilling to test lateral and depth extensions.
The release references the updated 2026 Mineral Resource Estimate (effective June 8, 2026), which reports Measured and Indicated resources of 890,600 ounces of gold and Inferred resources of 865,500 ounces of gold. The resource update reflects revised economic assumptions and cut-offs but did not include additional diamond drilling after the 2022 estimate.
President J.W. Dumont was appointed on September 28, 2026, and emphasizes disciplined capital allocation while noting only ~20% of the property has been explored. Finalized scope, budget, and schedule for drilling are pending permit confirmation, financing, and contractor availability.
Granada Gold Mine Inc. (GGM) released a standard regulatory filing to facilitate a previously announced drilling program. The release does not introduce new geological data, assay results, or resource growth.
The company’s 2026 Mineral Resource Estimate was initially disclosed on June 23, 2026, with the NI 43-101 technical report filed on August 7, 2026. The market has already priced in the 64% increase in Measured & Indicated ounces and the 90% increase in Inferred ounces.
Granada Gold Mine Inc. also appointed a new President, a routine corporate governance update. Management’s emphasis on "disciplined capital allocation" directly acknowledges the company's constrained balance sheet.
The news is fully expected and incremental, following the established permitting pathway.
Granada Gold Mine Inc. is an exploration-stage gold company focused on the Granada Gold Project near Rouyn-Noranda, Quebec, situated in the prolific Abitibi greenstone belt along the Cadillac Break trend. The project is 100% owned and covers 14.73 square kilometers. Historical production from the 1930s yielded over 50,000 ounces of gold at grades of 8-10 g/t Au from underground shafts.
The company holds a Certificate of Authorization for a "Rolling Start" pathway, permitting 550 tonnes per day of open-pit mining. The current strategy relies on a low-capital-intensity processing route: XRT ore sorting (demonstrating a 2.7x grade uplift at 88% recovery) followed by on-site gravity concentration to upgrade grade and reduce haulage volumes before a full feasibility study. Only ~20% of the 5.5-kilometer east-west mineralized structure has been explored, leaving significant upside potential for lateral and depth extensions.