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
- 2026-08-24 05:08:00 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Granada Gold has announced a significant update to its 2026 Mineral Resource Estimate, reporting a 64% increase in Measured and Indicated gold resources to 890,600 oz and a 90% increase in Inferred resources to 865,500 oz. The growth is largely attributed to higher gold prices supporting lower economic cut-off grades compared to the 2022 estimate.
Reasoning: The update shows substantial increases in both tonnage and contained gold ounces across all categories, primarily driven by higher gold prices allowing for lower cut-off grades.
Positive factors
- Significant tonnage growth in M&I and Inferred categories
- Contained metal growth driven by gold price environment
- QP/CP sign-off provided
- Cut-off grade transparency
Negative factors
- Grade decline due to lower cut-off grades
Facts used in scoring: 3
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: M&I tonnage increased from 8.22 Mt to 15.98 Mt (+94%) and Inferred from 3.01 Mt to 20.10 Mt (+568%)
Evidence · text
“64% increase in Measured and Indicated... 90% increase in Inferred”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: M&I gold increased from 543,000 oz to 890,600 oz (+64%)
Evidence · text
“64% increase in Measured and Indicated 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, ing. (P.Eng.) of GoldMinds Geoservices Inc. is named as the independent QP.
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 pit-constrained (0.25 g/t) and underground (1.4 g/t) are explicitly stated.
Evidence · text
“Pit-constrained Mineral Resources are reported at a cut-off grade of 0.25 g/t Au... Underground Mineral Resources are reported at a cut-off grade of 1.4 g/t Au”
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: Average M&I grade dropped from 2.05 g/t to 1.73 g/t and Inferred from 4.71 g/t to 1.34 g/t due to lower cut-offs.
Evidence · text
“the average grade of the reported resource is lower than in 2022, because lower-grade material... is captured”
Extracted facts
Stored fact records: 3. Some facts used in scoring do not have a stored record.
Resource Estimates (3)
measuredgoldTonnes: 6634000Grade: 1.75Grade Unit: g/tContained Metal: 372900Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- GGM
Resource Data
- Category
- measured
- Tonnes
- 6634000
- Grade
- 1.75
- Grade Unit
- g/t
- Contained Metal
- 372900
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Measured resource component of the update.
Positive factors
- High confidence category
Evidence · table
“1.75”
Context: 6,634,000
indicatedgoldTonnes: 9348000Grade: 1.72Grade Unit: g/tContained Metal: 517700Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- GGM
Resource Data
- Category
- indicated
- Tonnes
- 9348000
- Grade
- 1.72
- Grade Unit
- g/t
- Contained Metal
- 517700
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Indicated resource component of the update.
Positive factors
- High confidence category
Evidence · table
“1.72”
Context: 9,348,000
inferredgoldTonnes: 20096000Grade: 1.34Grade Unit: g/tContained Metal: 865500Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- GGM
Resource Data
- Category
- inferred
- Tonnes
- 20096000
- Grade
- 1.34
- Grade Unit
- g/t
- Contained Metal
- 865500
- Contained Unit
- oz
- Cutoff Grade
- 0.25
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-06-23T00:00:00.000Z
Reasoning: Large expansion of the inferred resource footprint.
Positive factors
- Massive tonnage growth
Negative factors
- Lower grade compared to 2022
Evidence · table
“1.34”
Context: 20,096,000
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.