On May 2, 2006 Grenville signed a letter of intent to acquire up to 90% of the common shares of Inversiones Mineras Alexander S.A.C. ("Alexander") which owns the mineral rights to the Chorobal Gold Project ("Chorobal" or the "Project") located in Peru. The transaction was closed based on TSX-Venture approval of the acquisition on June 1, 2007.
The Chorobal Project is located in the Department of La Libertad, 65 km southeast of Trujillo, Peru and 35 km from the Coast. Alexander controls 1,298 hectares of mining claims in this region where a large Gold, Molybdenum and Copper hydrothermalSystem has been identified adjacent and on strike to the Chorobal properties based on findings from a 1998 report from Savage Exploration of Peru.
The region is underlain by Volcanic Rocks, vulcanoclastics and volcano-sedimentary that belong to the Casma Formation of the inferior Cretaceous zone, intruded by granitoydic of the Cretaceous to Tertiary belonging the Batholith of the Coast, and covered by volcanic acids mainly fluxes of ignimbrite of the middle Tertiary to superior of the Calipuy Group. In the area of the Project, the Casrna Formation is composed of a series of sandstone pseudostratified, lutites and andesitic gaps intercalated with lava of rhyolitic composition.