Granada Gold Mine Inc. (TSXV: GGM | OTC Pink: GBBFF | FSE: B6DA) has announced it has applied for drill permits at its 100%-owned Granada Gold Project near Rouyn-Noranda, Québec, targeting both infill and exploration drilling along the property's east-west mineralized structure. The move follows newly appointed President J.W. Dumont's first strategic priority: renewing the drill programme while aligning exploration spending with financing plans. With combined Measured, Indicated, and Inferred resources totalling more than 1.75 million ounces of gold, investors may be watching closely for permit approvals and a confirmed drilling scope and budget.

Key Points

  • Granada Gold Mine Inc. (TSXV: GGM | OTC Pink: GBBFF | FSE: B6DA) announced the drill permit application on October 7, 2026.
  • The company has applied for drill permits at the Granada Gold Project, adjacent to the Cadillac Break in the Abitibi gold belt.
  • The 2026 mineral resource estimate reports 890,600 oz Measured and Indicated at 1.73 g/t Au, and 865,500 oz Inferred at 1.34 g/t Au.
  • Drilling remains subject to permits, financing, and contractor availability; the finalized scope and budget have not yet been confirmed.

Granada's Mineral Resource Base and the Abitibi Property's Exploration Upside

The Granada Gold Project hosts a 2026 mineral resource estimate, effective June 8, 2026, of 890,600 ounces of gold in the Measured and Indicated categories (15,982,000 tonnes at 1.73 g/t Au) and 865,500 ounces Inferred (20,096,000 tonnes at 1.34 g/t Au). The estimate was prepared by independent Qualified Person Claude Duplessis, P.Eng., of GoldMinds Geoservices Inc. The company notes that mineral resources are not mineral reserves and do not have demonstrated economic viability. Resources have been delineated over approximately 2 km of an estimated 5.5 km east-west mineralized structure, with roughly 20% of the property explored to date.

Planned Drilling Strategy: Infill Confidence and Strike-Extension Testing

Granada intends to combine infill drilling, aimed at improving confidence in the existing resource, with exploration drilling to test potential lateral and depth extensions of the deposit. The release states that results would guide future exploration spending and support resource updates as the company evaluates opportunities for resource growth. Historical exploration has included more than 150,000 metres of drilling across approximately 1,000 drill holes. The company disclosed that the finalized scope, budget, and schedule will be announced once confirmed, and that drilling remains subject to required permits, financing, and contractor availability.

New President Dumont Sets Capital Discipline as Immediate Priority

J.W. Dumont was appointed President on September 28, 2026, and the announcement identifies renewed drilling preparation and alignment of exploration spending with financing plans as the company's immediate focus. Dumont stated in the release: "Our focus now is disciplined capital allocation to maximize long-term shareholder value. We want to finance and execute targeted work that improves our understanding of the property and helps us assess opportunities for resource growth." The immediate share price impact was not clear from available public information.