Granada Gold Advances On-Site Gravity Concentration Facility To Upgrade Mineralized Material Grade And Reduce Off-Site Haulage
Granada’s updated resource grew 64% as it advances gravity concentration permitting, though cash constraints threaten a rolling start.
Granada Gold Mine Inc. announced that an independent environmental consultant has completed a site visit to assess locations for a proposed on-site gravity concentration facility. This visit serves as a preparatory step for an Authorization Modification Request under the Québec Environment Quality Act, which seeks to add on-site gravity processing to the company’s existing Certificate of Authorization. The facility is designed to use a conventional gravity concentration circuit housed in a dome structure with a closed-loop water system, with no anticipated environmental discharge.
This development complements the April 2026 ore-sorting results, which showed a 2.7x grade uplift at 88% recovery, and forms the second phase of the company's "Rolling Start" pathway. The pathway aims to extract 550 tonnes per day using the existing permit, concentrate material on-site to reduce haulage and capital intensity, and define accurate grade before commissioning a full Feasibility Study.
The announcement coincides with an updated Mineral Resource Estimate effective June 8, 2026. The update shows Measured & Indicated resources increasing 64% to 890,600 oz Au and Inferred resources increasing 90% to 865,500 oz Au. Cut-off grades were lowered to 0.25 g/t Au for the pit and 1.4 g/t Au for underground operations, based on a higher gold price assumption of CA$176/g (~US$4,270/oz).
A preliminary authorization modification application is expected by September 2026, with a final version targeted for October 2026. An NI 43-101 technical report incorporating the updated MRE will be filed on SEDAR+ within 45 days.
Granada Gold Mine Inc. (GGM) has advanced its planned "Rolling Start" development pathway with a site visit marking a standard permitting milestone for the gravity concentration facility, which was initially announced in May 2026. The company also released an updated Mineral Resource Estimate, providing a stronger geological foundation for the project. However, this resource expansion is primarily driven by a higher gold price assumption and lower cut-offs rather than new discovery drilling.
The release does not include new financial metrics, production guidance, or feasibility study results, leaving the project in the exploration and early development stage with no near-term revenue generation. The market appears to have already priced in the resource update and ore-sorting results, as evidenced by the stock consolidating in the $0.04-$0.05 range following the June 23 announcement.
Granada Gold Mine Inc. is a gold exploration and development company focused on the Granada Gold Project, located along the Cadillac Break Trend near Rouyn-Noranda, Québec, and Wawa, Ontario. The project is a historical producer that yielded over 51,000 ounces of gold at 9.7 g/t Au in the 1930s, with additional bulk sampling in the 1990s. The company holds a Certificate of Authorization for a "Rolling Start" mining operation at 550 tonnes per day.
The flagship project features an updated resource of 890,600 oz Au (M&I) and 865,500 oz Au (Inferred), with only ~20% of the 5.5-kilometer east-west mineralized structure explored to date. The development strategy relies on a two-step processing approach: XRT ore sorting followed by on-site gravity concentration, designed to reduce capital intensity, lower operating costs, and minimize environmental footprint before a full feasibility study.