# Spanish Mountain Gold Signs BC Hydro Facilities Study for 60 MW Interconnection > Spanish Mountain Gold signed a BC Hydro facilities study for a 60 MW interconnection, requiring a new 230 kV switching station targeted for operation by H1 2030. - Published: 2026-10-27T11:43:14+00:00 - Section: Partnerships - Author: News Desk - URL: https://newsforagent.com/news/2026-10-27/spanish-mountain-gold-bc-hydro-facilities-study - Source: [Business Wire](https://www.businesswire.com/news/home/20261027847925/en/) ## Key takeaways - Spanish Mountain Gold signed a Facilities Study Agreement with BC Hydro for a 60 MW load interconnection. - The interconnection requires a new BC Hydro 230 kV switching station targeted to operate by H1 2030. - Michael Buchanan, formerly Director, Exploration - Americas at Teck Resources, joined as Vice President, Exploration on October 26, 2026. Spanish Mountain Gold signed a Facilities Study Agreement with BC Hydro for the interconnection of a 60 MW load at its Spanish Mountain Gold project in British Columbia's Cariboo Gold Corridor, [Business Wire](https://www.businesswire.com/news/home/20261027847925/en/) reported on October 27, 2026. The study is targeted for completion in H2 2027. ## Inside the BC Hydro Facilities Study The agreement covers the feasibility design and project definition phases, including engineering design, project management, stakeholder engagement and capital cost estimates of plus or minus 15% for implementation, according to [TradingView](https://www.tradingview.com/news/business_wire:ba0345b6f56c8:0-spanish-mountain-gold-signs-facilities-study-interconnection-agreement-with-bc-hydro-and-strengthens-development-team/). The interconnection requires a new BC Hydro 230 kV switching station to be built near the BC Hydro McLeese Lake Capacitor Station, targeted to be ready for operation by H1 2030. [Spanish Mountain Gold](https://akta.pro/company-profiles/0002rmb/spanish-mountain-gold) said grid power is a key part of its plan to build a lower-carbon, lower-cost mine. The company said the agreement is a further step toward a construction decision, alongside the 2026 Preliminary Economic Assessment update released on September 21, 2026, the environmental assessment process and the feasibility study. Peter Mah, President and CEO, said: "Signing the Facilities Study Agreement is a significant milestone toward a construction decision for the Project. Secure, reliable, and clean grid power is a cornerstone of the Project." [BC Hydro](https://akta.pro/company-profiles/00067un/bc-hydro) is the provincial Crown corporation responsible for generating, purchasing, transmitting and distributing electricity in British Columbia. In August 2026, BC Hydro agreed to acquire the 275MW Island Generation natural gas-fired power facility in Campbell River from Capital Power to support electricity reliability on Vancouver Island, Power Technology reported. ## Buchanan Joins as Exploration Vice President Spanish Mountain Gold appointed Michael Buchanan, P.Geo., as Vice President, Exploration, effective October 26, 2026. Buchanan is an economic geoscientist with more than 20 years of global exploration experience and most recently served as Director, Exploration - Americas at Teck Resources from 2020 to 2024, where he was responsible for leading an annual exploration budget of more than $50 million. He will lead the company's exploration and resource development programs as the project advances through the feasibility study. Mah said: "His experience leading large-scale exploration programs and working closely with communities will be a tremendous asset to the Company as we advance the Project through feasibility." ## Spanish Mountain Gold's Funding and Resource Base Spanish Mountain Gold entered a US$55 million royalty financing agreement with Wheaton Precious Metals in April 2026, selling a 1.5% net smelter return on gold and silver production payable in three milestone-linked tranches, according to akta.pro [company records](https://akta.pro/company-data). The same records list a February 2026 memorandum of understanding with Metso Canada Inc. for process plant equipment and tailings dewatering, with the potential to unlock up to $50 million in OEM financing backed by a state export credit agency. The records show a Measured and Indicated resource of 3.9 million ounces of gold at a 0.30 g/t cut-off grade and a planned 2025-2026 feasibility drill program of 60,000 metres, of which approximately 28,500 metres were completed as of June 2026. ## Earlier Project Milestones On October 23, 2026, Spanish Mountain Gold released positive X-ray transmission ore sorting results from its Phoenix deposit, upgrading mill feed grade by more than two times while rejecting 50-70% of waste rock, Investorshangout reported. On October 17, 2026, the outlet reported a mineral resource estimate as of September 21, 2026, with the K-zone containing 3.0 million ounces of gold at 0.42 g/t average grade. On October 2, 2026, Stock Titan reported that the British Columbia Environmental Assessment Office accepted the company's resumption plan in August 2026, and that the company is on track to submit a Detailed Project Description in Q1 2027. ## Companies in this story - [Spanish Mountain Gold company profile](https://akta.pro/company-profiles/0002rmb/spanish-mountain-gold) · website: http://www.spanishmountaingold.com - [BC Hydro company profile](https://akta.pro/company-profiles/00067un/bc-hydro) · website: https://www.bchydro.com/index.html --- News for Agent · https://newsforagent.com/llms.txt