Granada Gold Announces 64% Increase In Measured And Indicated Mineral Resources To 890,600 OZ AU (15,982,000 Tonnes At 1.73 G/T AU) And 90% Increase In Inferred Mineral Resources To 865,500 OZ AU (20,096,000 Tonnes At 1.34 G/T AU)
Original announcement by tmx on
- Company
- Granada Gold Mine Inc.
- Ticker
- GGM
- Exchange
- TSX
- Region
- Quebec
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-09-14 02:35:08 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Granada Gold has announced an updated 2026 Mineral Resource Estimate for its Granada Gold Project in Quebec, showing a 64% increase in Measured and Indicated resources to 890,600 oz Au and a 90% increase in Inferred resources to 865,500 oz Au. The growth is largely attributed to the higher gold price environment supporting lower economic cut-off grades.
Reasoning: The update shows substantial growth in both tonnage and contained gold ounces across all categories, primarily driven by the higher gold price allowing for lower cut-off grades.
Positive factors
- Significant tonnage growth in M&I (+64%) and Inferred (+90%)
- Contained metal growth driven by higher gold price environment
- QP/CP sign-off provided by Claude Duplessis, P.Eng.
- Cut-off grades lowered to capture more material at current prices
- Deposit remains open along strike and at depth
Negative factors
- Average grade declined due to lower cut-off grades
- Resource is not yet a reserve
Facts used in scoring: 5
Classification and evidence
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: M&I tonnage increased by 64% and Inferred by 90% compared to the 2022 estimate.
Evidence · text
“64% increase in Measured and Indicated contained gold and a 90% increase in Inferred contained gold”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Claude Duplessis, P.Eng. of GoldMinds Geoservices Inc. is named as the independent Qualified Person.
Evidence · text
“prepared by Claude Duplessis, ing. (P.Eng.), of GoldMinds Geoservices Inc., an independent Qualified Person”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for in-pit (0.25 g/t Au) and underground (1.4 g/t Au) are clearly stated.
Evidence · text
“Pit-constrained resources reported at a 0.25 g/t Au cut-off; underground resources at a 1.4 g/t Au cut-off.”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable.
Why it applies: The project is an update to a 2022 estimate, not a maiden resource.
Evidence · text
“re-evaluates the independent SGS Canada Inc. block model that supported the Company’s 2022 estimate”
Extracted facts
Stored fact records: 5. Some facts used in scoring do not have a stored record.
Resource Estimates (5)
measuredGranada Gold Project · goldTonnes: 6634000Grade: 1.75Grade Unit: g/tContained Metal: 372900Contained Unit: oz auView all detailsHide details
Identity
- Project
- Granada Gold Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Quebec
- Ticker
- GGM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Claude Duplessis
- Resource group id
- resource:5597d833383e4f57248b
- Deposit or zone
- Granada Gold Project
- Ownership percent
- 100 %
Resource Data
- Category
- measured
- Tonnes
- 6634000
- Grade
- 1.75
- Grade Unit
- g/t
- Contained Metal
- 372900
- Contained Unit
- oz au
- Cutoff Grade
- 0.25
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-06-08
Lab
- Laboratory
- SGS Canada Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Measured resource component of the update.
Evidence · table
“1.75”
Context: 6,634,000
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
indicatedGranada Gold Project · goldTonnes: 9348000Grade: 1.72Grade Unit: g/tContained Metal: 517700Contained Unit: oz auView all detailsHide details
Identity
- Project
- Granada Gold Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Quebec
- Ticker
- GGM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Claude Duplessis
- Resource group id
- resource:7328142a7178b3253266
- Deposit or zone
- Granada Gold Project
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 9348000
- Grade
- 1.72
- Grade Unit
- g/t
- Contained Metal
- 517700
- Contained Unit
- oz au
- Cutoff Grade
- 0.25
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-06-08
Lab
- Laboratory
- SGS Canada Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Indicated resource component of the update.
Evidence · table
“1.72”
Context: 9,348,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
inferredGranada Gold Project · goldTonnes: 20096000Grade: 1.34Grade Unit: g/tContained Metal: 865500Contained Unit: ozView all detailsHide details
Identity
- Project
- Granada Gold Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Quebec
- Ticker
- GGM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Claude Duplessis
- Resource group id
- resource:0b65f4c2eb2a92f15afb
- Deposit or zone
- Granada Gold Project
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 20096000
- Grade
- 1.34
- Grade Unit
- g/t
- Contained Metal
- 865500
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-06-08
Lab
- Laboratory
- SGS Canada Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Significant Inferred resource growth.
Evidence · table
“1.34”
Context: 20,096,000
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
indicatedGranada Gold Project · goldTonnes: 15982000Grade: 1.73Grade Unit: g/tContained Metal: 890600Contained Unit: ozView all detailsHide details
Identity
- Project
- Granada Gold Project
- Commodity
- gold
- Region
- canada_qc
- Reported Region
- Quebec
- Ticker
- GGM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Claude Duplessis
- Resource group id
- resource:6a4458ada3c56f1b5a4c
- Deposit or zone
- Granada Gold Project
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 15982000
- Grade
- 1.73
- Grade Unit
- g/t
- Contained Metal
- 890600
- Contained Unit
- oz
- Cutoff Grade
- 0.25
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-06-08
Lab
- Laboratory
- SGS Canada Inc.
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Combined M&I resource total.
Evidence · table
“1.73”
Context: 15,982,000
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
Fact 5NorandaView all detailsHide details
Identity
- Project
- Noranda
- Region
- canada_qc
- Reported Region
- Quebec
- Ticker
- GGM
Resource scope
- Estimate type
- resource
- Resource group id
- resource:f6bed4461cbc46f503df
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Explicit resource disclosure recovered from source prose.
Evidence · text
“As expected, when a deposit is re-evaluated at a materially higher gold price, the average grade of the reported resource is lower than in 2022, because lower-grade material that was previously below the cut-off grades applied in 2022 is captured within the reported resource at the lower cut-off grades applied in 2026.”
Tags used in scoring
Cut-off Lowerednegative
Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: As expected, when a deposit is re-evaluated at a materially higher gold price, the average grade of the reported resource is lower than in 2022, because lower-grade material that was previously below the cut-off grades applied in 2022 is captured within the reported resource at the lower cut-off grades applied in 2026.
Evidence · text
“As expected, when a deposit is re-evaluated at a materially higher gold price, the average grade of the reported resource is lower than in 2022, because lower-grade material that was previously below the cut-off grades applied in 2022 is captured within the reported resource at the lower cut-off grades applied in 2026.”
Context: Noranda, Quebec
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.