Grenville Gold seeks development proposals for Espanola

 

2007-10-17 09:55 ET - News Release

Mr. A. Paul Gill reports

GRENVILLE SEEKS DEVELOPMENT PROPOSALS FOR ESPANOLA, ASSIGNS EXPLORATION PROJECT MANAGER FOR SILVERIA

Grenville Gold Corp. is accepting development proposals for the Espanola property. An initial National Instrument 43-101-compliant report has been completed and available on the Grenville Gold website.

A total of 45 grab samples of rock were collected from various underground workings with assays ranging from 70 parts per million to 11.37 per cent copper and 0.007 to 0.794 gram of gold per tonne. Mineralization on surface is hosted by steeply dipping malachite-stained quartz veins averaging between 0.5 to three metres wide. In the underground workings sulphide mineralogy consists of bornite and chalcopyrite. Results are consistent with the former producing Raul/Condestable mines, located 15 kilometres west of Espanola. These mines are reported to have produced over 20 million tons of ore grading 1.5 per cent copper and 0.5 gram of gold per tonne. The average of the samples was 0.19 ppm gold and 2.51 per cent copper. The attached table lists results.

Sample No.  Gold  Copper              ppm    %    01526     0.609  3.23   01527     0.464  2.88   01528     0.094  1.85   01529     0.101  2.14   01530     0.499  8.77   01531     0.011  0.01   01532     0.783  3.95   01533     0.177  4.69   01534     0.794  5.70   01535     0.170  3.60   01536     0.104  1.89   01537     0.325  0.61   01538     0.008  0.09   01539     0.015  2.19   01540     0.009  0.83   01541     0.007  1.92   01542     0.037  0.44   01543     0.017  0.51   01544     0.012  0.01   01545     0.012  0.31   01546     0.009  0.71   01549     0.027  0.52   01550     0.011  0.53   01633     0.043  5.05   01634     0.018  1.64   01635     0.185  4.35   01636     0.597  2.96   01637     0.189  0.94   01638     0.283  2.17   01639     0.052  2.93   01640     0.111  5.46   01641     0.103  0.52   01642     0.457 11.37   01643     0.189  5.70   01644     0.239  4.60   01645     0.189  1.51   01646     0.189  3.03   01647     0.048  1.54   01648     0.114  0.04   01649     0.364  1.46   01650     0.445  3.88   01419     0.142  0.10 

At present, Grenville is focused on the development of the Silveria property. Manuel Escalano, PhD, manager of exploration and mine development for Inversiones Mineras Alexander SAC, has been assigned the task of organizing the early stage exploration at the Silveria project. The focus of exploration is to identify above surface and underground drill targets.

The technical information contained in this release has been reviewed by Jeffrey Reeder, PGeo, technical adviser for Grenville Gold and qualified person as defined in National Instrument 43-101 in Stockwatch on May 16, 2007.

We seek Safe Harbor.