Click here to view the Espanola 43-101 PDF.
On July 10, 2006 Grenville signed agreements to acquire up to 95% of the mineral rights over a contiguous six (6) kilometer parcel of land located 100 km southeast of the City of Lima in the Province of Canete.
As recently as the mid-90s there were two producing copper mines on either end of the property. These mines were shut down as a result of extremely weak global copper prices. However, copper prices have risen significantly since that time and as a consequence Grenville has determined that these mines may once again prove commercial.
A total of 45 rock grab samples 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 grams of gold/tonne. Mineralization on surface is hosted by steeply dipping malachite-stained quartz veins averaging between 0.5 to 3 meters wide. In the underground workings sulphide mineralogy consists of bornite and chalcopyrite. The average of the samples was 0.19 ppm Gold and 2.51% Copper. The table lists the complete results.
|
Sample Number
|
Gold
|
Copper
|
Sample Number
|
Gold
|
Copper
|
|
|
ppm
|
%
|
|
ppm
|
%
|
|
01526
|
0.609
|
3.23
|
01549
|
0.027
|
0.52
|
|
01527
|
0.464
|
2.88
|
01550
|
0.011
|
0.53
|
|
01528
|
0.094
|
1.85
|
01633
|
0.043
|
5.05
|
|
01529
|
0.101
|
2.14
|
01634
|
0.018
|
1.64
|
|
01530
|
0.499
|
8.77
|
01635
|
0.185
|
4.35
|
|
01531
|
0.011
|
0.01
|
01636
|
0.597
|
2.96
|
|
01532
|
0.783
|
3.95
|
01637
|
0.189
|
0.94
|
|
01533
|
0.177
|
4.69
|
01638
|
0.283
|
2.17
|
|
01534
|
0.794
|
5.70
|
01639
|
0.052
|
2.93
|
|
01535
|
0.170
|
3.60
|
01640
|
0.111
|
5.46
|
|
01536
|
0.104
|
1.89
|
01641
|
0.103
|
0.52
|
|
01537
|
0.325
|
0.61
|
01642
|
0.457
|
11.37
|
|
01538
|
0.008
|
0.09
|
01643
|
0.189
|
5.70
|
|
01539
|
0.015
|
2.19
|
01644
|
0.239
|
4.60
|
|
01540
|
0.009
|
0.83
|
01645
|
0.189
|
1.51
|
|
01541
|
0.007
|
1.92
|
01646
|
0.189
|
3.03
|
|
01542
|
0.037
|
0.44
|
01647
|
0.048
|
1.54
|
|
01543
|
0.017
|
0.51
|
01648
|
0.114
|
0.04
|
|
01544
|
0.012
|
0.01
|
01649
|
0.364
|
1.46
|
|
01545
|
0.012
|
0.31
|
01650
|
0.445
|
3.88
|
|
01546
|
0.009
|
0.71
|
01419
|
0.142
|
0.10
|
|
01547
|
0.051
|
1.72
|
01420
|
0.153
|
2.67
|
|
01548
|
0.038
|
1.92
|
Averages
|
0.19
|
2.51
|
Results are consistent with the former producing Raul/Condestable Mines, located 15 kilometers west of Espanola. These mines are reported to have produced have produced over 20 million tons of ore grading 1.5% copper and 0.5 grams of gold per tonne.
Analyses for the samples reported herein were performed by Inspectorate Services Peru S.A.C in Lima, Peru. Inspectorate Services Peru S.A.C. is an International Organization for Standardization (“ISO”) 9000 certified laboratory. ISO 9000 certification a quality assurance model ensuring organizations develop a quality system. The official ISO explanation of the ISO 9000 group of standards be found at www.iso.ch/iso/en/iso9000-14000/index.html.
The exploration program on La Espanola is under the supervision of Manuel Escalano, Ph.D, Manger of Exploration and Mine Development for Inversiones Mineras Alexander S.A.C., a 90% owned Grenville subsidiary. The technical information contained in this release has been reviewed by Jeffrey Reeder P.Geo technical advisor for Grenville Gold and qualified person as defined in National Instrument 43-101.