Business
Granada Gold Mine Engages GoldMinds Geoservices for Mineral Resource Estimate Update Reflecting Current Gold Pricing
(via TheNewswire) Updated MRE to Evaluate Expanded Open-Pit Gold Potential Using various cut-off gold grades Rouyn Noranda, Q.C., May 19, 2026 - TheNewswire –
About this update from Granada Gold Mine Inc.
[{"type":"text","content":"(via TheNewswire) Updated MRE to Evaluate Expanded Open-Pit Gold Potential Using various cut-off gold grades Rouyn Noranda, Q.C., May 19, 2026 - TheNewswire – Granada Gold Mine Inc. (TSXV: GGM) (OTC: GBBFF) (Frankfurt: B6D) (the \"Company\" or \"Granada\") is pleased to announce the engagement of GoldMinds Geoservices Inc. (\"GoldMinds\") to complete an updated NI 43-101 compliant Mineral Resource Estimate (\"MRE\") for the Granada Gold Project located near Rouyn-Noranda, Québec. The MRE will be prepared under the direction of Claude Duplessis, P.Eng. (OIQ #45523), a Qualified Person as defined under NI 43-101. The MRE update will incorporate all available drilling and exploration data accumulated since the last resource update and will evaluate the deposit using various cut-off grades for pit-constrained mineral resources. This approach builds on the methodology employed by GoldMinds in its May 2017 NI 43-101 Technical Report. That report, which constitutes a historical mineral resource estimate, reported pit-constrained Measured resources of 17,068,500 tonnes at 1.14 g/t Au for 625,000 ounces and Indicated resources of 4,507,000 tonnes at 1.26 g/t Au for 182,700 ounces (combined Measured and Indicated of 21,575,500 tonnes at 1.16 g/t Au for 807,700 ounces), plus Inferred underground resources of 10,386,500 tonnes at 4.56 g/t Au for 1,523,800 ounces. With gold now trading near US$4,700 per ounce, compared to the US$1,250 per ounce price assumption used in the 2017 estimate, the Company believes a re-evaluation of the deposit at current price levels is warranted and could demonstrate a materially larger economic resource envelope. Inferred mineral resources have a great amount of uncertainty as to their existence and as to whether they can be mined legally or economically, and it cannot be assumed that all or any part of an Inferred mineral resource will be upgraded to a higher category. The study will also consider the integration of ore sorting technology, following the Company’s recent independent test program at the Saskatchewan Research Council, which demonstrated a 2.7x gold grade uplift with 88 percent recovery (see news release dated April 28, 2026). \"The original author of the 2017 historical resource estimate is now updating his own work with the benefit of additional drilling data, a structural reinterpretation of th...