# Archive

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27

Original source: https://www.thenewswire.com/press-releases/1BNMFyOqM-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.html

Publisher: thenewswire

Original announcement: 2026-06-23T00:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: 2026-10-01T03:49:57.366Z

Atlas analysis updated: 2026-10-01T03:49:57.366Z

- Company: Granada Gold Mine Inc.

- Ticker: GGM

- Exchange: TSXV

- Region: Quebec

- Primary commodity: Gold

- Secondary commodities: None reported

- Document categories: Resource update

- Extracted: 2026-10-01 03:49:58 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Granada Gold Mine Inc. has announced an updated 2026 Mineral Resource Estimate for the Granada Gold Project in Quebec, reporting 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 expansion is primarily driven by higher gold prices supporting lower economic cut-off grades compared to the 2022 estimate.

Reasoning: The 2026 MRE shows substantial increases in both tonnage and contained gold compared to the 2022 estimate, driven by higher gold prices allowing for lower cut-off grades. While average grades have declined, the overall scale of the resource has expanded significantly.

- Positive factor: Significant tonnage growth \(+64% M&I, +90% Inferred\)

- Positive factor: Contained metal growth \(+64% M&I, +90% Inferred\)

- Positive factor: QP/CP signed \(Claude Duplessis, P.Eng.\)

- Positive factor: Cut-off grade disclosed

- Positive factor: Deposit remains open along strike and at depth

- Negative factor: Grade decline vs 2022 estimate due to lower cut-off grades

Facts used in scoring: 6

## Classification and evidence

**Tonnage Growth**

Polarity: positive

Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved.

Why it applies: M&I tonnage increased 64% and Inferred tonnage increased 90% compared to 2022 estimate.

Evidence · text

> 64% increase in Measured and Indicated contained gold and a 90% increase in Inferred contained gold

**Contained Metal Growth**

Polarity: positive

Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.

Why it applies: Contained gold increased by 64% for M&I and 90% for Inferred.

Evidence · text

> 64% increase in Measured and Indicated contained gold and a 90% increase in Inferred contained gold

**Grade Decline**

Polarity: negative

Definition: Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.

Why it applies: Average grades for both M&I and Inferred categories decreased compared to the 2022 estimate due to lower cut-off grades.

Evidence · text

> the average grade of the reported resource is lower than in 2022

**QP/CP Signed**

Polarity: positive

Definition: 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.

**Cut-off Disclosed**

Polarity: positive

Definition: 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.

## Extracted facts

Stored fact records: 6. Some facts used in scoring do not have a stored record.

## Resource Estimates (6)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27#fact-resource-facts-0)

Granada Gold Project · gold

#### 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 basis: gross

#### 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.

- Positive factor: High confidence category

Evidence · table

> 1.75

Context: 6,634,000

#### Tags used in scoring

**Measured Resource**

Polarity: positive

Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.

Why it applies: category is "measured"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27#fact-resource-facts-1)

Granada Gold Project · gold

#### 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 basis: gross

#### 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.

- Positive factor: High confidence category

Evidence · table

> 1.72

Context: 9,348,000

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27#fact-resource-facts-2)

Granada Gold Project · gold

#### 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 basis: gross

#### 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: Inferred resource component of the update.

- Positive factor: Significant tonnage growth

- Negative factor: Speculative category

Evidence · table

> 1.34

Context: 20,096,000

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Disclosed**

Polarity: positive

Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.

Why it applies: cutoff\_grade is stated

**QP/CP Signed**

Polarity: positive

Definition: 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

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27#fact-resource-facts-3)

Granada Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Granada Gold Project
- Commodity: gold
- Region: canada\_qc
- Reported Region: Quebec
- Ticker: GGM

#### Resource scope

- Estimate type: resource
- Resource group id: resource:58823ecb777ac3a14f47

#### Resource Data

- Category: indicated
- Tonnes: 8220000
- Grade: 2.05
- Grade Unit: g/t
- Contained Metal: 543000
- Contained Unit: oz

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2022-06-23T00:00:00.000Z

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: Historical 2022 MRE for comparison.

Evidence · text

> 543,000 ounces Measured and Indicated \(8,220,000 tonnes at 2.05 g/t Au\)

#### Tags used in scoring

**Indicated Resource**

Polarity: positive

Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.

Why it applies: category is "indicated"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Estimate**

Polarity: negative

Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.0 years before this release

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27#fact-resource-facts-4)

Granada Gold Project · gold

Historical result

Needs review: historical\_restatement

#### Identity

- Project: Granada Gold Project
- Commodity: gold
- Region: canada\_qc
- Reported Region: Quebec
- Ticker: GGM

#### Resource scope

- Estimate type: resource
- Resource group id: resource:f5df0a89382d0a8d2600

#### Resource Data

- Category: inferred
- Tonnes: 3010000
- Grade: 4.71
- Grade Unit: g/t
- Contained Metal: 456000
- Contained Unit: oz

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2022-06-23T00:00:00.000Z

#### Dates

- Event date: 2026-06-23T00:00:00.000Z

Reasoning: Historical 2022 MRE for comparison.

Evidence · text

> 456,000 ounces Inferred \(3,010,000 tonnes at 4.71 g/t Au\)

#### Tags used in scoring

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: category is "inferred"

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**Stale Estimate**

Polarity: negative

Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding.

Why it applies: effective date is 4.0 years before this release

### Fact 6

[Link to this fact](https://atlas-staging.minestarters.com/news/archive--93b366bf-66c8-44fc-8f10-a5970d577f27#fact-resource-facts-5)

Noranda

#### 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 Lowered**

Polarity: negative

Definition: Cut-off grade significantly reduced 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 Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

**No Contained Metal**

Polarity: negative

Definition: 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.