Balancing Gold Production with Sustainable Small - Mine Development and Exploration
Red Lake Gold District, Ontario - Rice Lake Gold District, Manitoba - Giulianita, Peru
Grandview Gold Inc. Toronto, ON, TSX : GVX, OTC-BB : GVGDF
Grandview is a mineral exploration company focused on creating value for shareholders by exploring and, if warranted, developing gold properties in North America.
Grandview continues to be involved in the acquisition, exploration and, if warranted, the development of properties for the mining of precious metals in Ontario and Manitoba, Canada and Nevada, USA.
Our Red Lake portfolio is headlined by well-positioned properties in the company of demonstrable economic viability.
Not four kilometers northwest of our Sanshaw-Bonanza property sits the Bruce Channel discovery that Goldcorp recently acquired from Gold Eagle for USD $1.5 billion. Contiguous to the east of our Sanshaw-Bonanza property sits the Goldcorp/Premier Gold Rahill-Bonanza property.
We maintain our thinking that the southwest extension of the Rahill-Bonanza CP-Zones (Follansbee Zones) may extend onto our ground. We earned our 60% interest by expending CAD $500,000, plus options payments, and shares.
Due east of Sanshaw, sharing its northern border with Goldcorp, sits our highly prospective but under-explored Loisan property. Southeast of both sits our 64% earned-in Dixie Lake project, which last season revealed a third gold system and assays as high as 163 g/T Au and garnered the attention of new retail and institutional investors.
The recently completed private placement will permit us to carry out a focused exploration program at our Dixie Lake Property, with the intent to drill the promising NS Zone and other un-tested targets, and re-evaluate the resource estimate on the 88-4 and 88-4 West Zones. See the press release dated December 5, 2008 for further details of the Dixie Lake program.
Across the Manitoba border from Red Lake, the Archean greenstone belt continues as the Rice Lake Gold District, where we have 80% ownership of +8,000 hectares near San Gold’s (SGR: TSX-V) 1.7M oz Au Rice Lake Mine. San Gold now has two operating mines and is one of the strongest emerging gold production stories. Also this season we continued earning toward a 50% interest in the GEM Property and acquired additional land in the Rice Lake belt. We have exciting grassroots projects on trend between the past-producing Gunnar and Diana Mines in an area of 20+ gold showings and we hope to continue assessment of targets developed during first pass surface mapping and sampling this summer. We will also seek new opportunities that we believe will surface under the present market conditions.
Grandview has earned an 80% interest in the 28 square-mile, 7,285 hectare Pony Creek/Elliott Dome Property on the Carlin Trend in north central Nevada. The Company is currently aggressively exploring and developing three primary target areas, namely Pony Creek West, Red Rock and Pony Creek South. The Pony Creek/Elliott Dome project is the largest consolidated land position on the 200 million ounce (gold) Carlin Trend, not already owned by a major. » View Project Details
Red Lake Gold District
Grandview has significant interests in the 30 million ounce gold Red Lake Mining District of southwest Ontario and is exploring and developing three gold projects in close proximity to Goldcorp's 11 million ounce Red Lake Mine.
Dixie Lake Property
Grandview has an option agreement with Fronteer Development Group, and has earned a 64% interest in the 1,664 hectare Dixie Lake property located just 16 miles south of Goldcorp's Red Lake Mine, one of the richest, lowest cost production gold mines in the world.
- Grandview has incurred the expenditures required to successfully fulfill the terms of its option agreement with EMCO Corporation SA to earn a 60% undivided interest in the Sanshaw-Bonanza property.
- The Dixie Lake property is located south of Goldcorp’s Red Lake Mine and has a non-compliant resource of 378,296 tonnes grading 4.4 g/T Au established by Teck Exploration Ltd. ("Teck") (1989-90). Diamond drilling done by Grandview in 2007 and 2008 resulted in the discovery of new high-grade gold zones (NS Zone), and the continuation of existing zones. Within the NS Zone numerous high-grade gold intervals containing visible gold characteristic of a Red Lake vein type deposit, and assays as high as 163.75 g/T Au. Exploration programs include a return to the Dixie Lake property to continue to trace mineralization in the high grade NS Zone and further evaluate other areas of mineralization.
- Grandview owns 100% interest in the Loisan Project - eight mining claims covering approximately 60 hectares in close proximity to the Red Lake Mine. » View Project Details
Rice Lake Gold District
Grandview is exploring three grass roots stage gold projects in Manitoba's emerging Rice Lake Gold District located approximately 80 kilometres west of the 30 million ounce Red Lake District in Ontario. Rice Lake and Red Lake share many geologic features but are separated by a provincial border.
- The Company has 100% interest in the Banksian gold property; an additional 3,975 hectares known as the GVG Project; and has an option to earn a 50% interest in the seven claim, 1,594 hectare Gem claim group --- known collectively as the Banksian/Gem/GVG project.
- Grandview holds 100% interest in the five claim, 79 hectare Bissett Project located in close proximity to the two million ounce Rice Lake Gold (formerly San Antonio) Project.
- The Company holds 100% interest in the 11 claim, 235 hectare Angelina gold property located 24 kilometres south east of the Rice Lake Gold Project. » View Project Details