Resource Estimate
Granada Gold Mine Engages GoldMinds Geoservices for Mineral Resource Estimate Update Reflecting Current Gold Pricing
Granada Gold Leverages Ore Sorting Breakthrough to Revalue Resource at Historic Gold Prices
Executive Summary
- Granada Gold Mine Inc. has engaged GoldMinds Geoservices Inc. to update its NI 43-101 Mineral Resource Estimate (MRE) for the Granada Gold Project in Quebec.
- The update incorporates over 158,000 metres of drilling data accumulated through 2025 and utilizes a gold price assumption near US$4,700/oz, significantly higher than the US$1,250/oz used in the 2017 estimate.
- The scope includes mass model updates, pit-constrained optimization, and underground mineable shape optimization.
- Ore sorting technology results from independent tests at the Saskatchewan Research Council (SRC) will be integrated; these tests showed a 2.7x gold grade uplift with 88% recovery.
- This follows a recently closed $2.5 million private placement in February 2026 intended to fund resource updates and exploration.
Material Impact
- The engagement is an expected execution of the strategy announced on April 28, 2026, regarding ore sorting results. It does not introduce new discovery data but confirms capital deployment toward a higher-value resource estimate.
- The gold price assumption of US$4,700/oz is aggressive and materially impacts potential valuation if realized; however, this assumption carries significant downside risk if market prices revert to historical norms ($1,500-$2,000 range).
- Integration of ore sorting technology (88% recovery, 67.8% waste rejection) could significantly reduce capital intensity and operating costs, potentially making the project viable at lower grades than previously modeled.
- The news is positive but incremental relative to the April announcement which already established the technical feasibility of grade uplift. It validates management's use of proceeds rather than creating a new catalyst.
GGM · Price
Company Overview
- Company: Granada Gold Mine Inc. (TSXV: GGM, OTC: GBBFF).
- Flagship Project: Granada Gold Property near Rouyn-Noranda, Quebec.
- Status: Development/Exploration with existing permits for 550 tonnes per day mining capacity.
- Historical Resource (June 2022): 543,000 ounces Measured & Indicated (8.22Mt @ 2.05 g/t) and 456,000 ounces Inferred (3.01Mt @ 4.71 g/t).
- Production History: Historic underground mining in the 1930s produced >50,000 oz at high grades; open pits were also mined in the 1990s.
- Current Drilling: Over 158,000 metres drilled from surface across more than 1,000 holes; approximately 20% of the 5.5km mineralized corridor explored to date.
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Jun 30, 2026 · 07:30