Grenville Alternativa Copper Project JV Production Deadline Extended
September 11 2009 - 2:13PM
Marketwired
Grenville Gold Corporation's ("Grenville" or "the Company") (TSX
VENTURE: GVG)(PINK SHEETS: GVLGF)(FRANKFURT: F9I)(WKN: A0KELU)
99.99% owned subsidiary Minera Espanola S.A.C., has an agreement to
receive a 7% Gross Over-Riding Revenue (GORR) from the Alternativa
I (200 Ha) and Alternativa II (200 Ha) Claims at the 7,129 Ha
Espanola Property. The assignee, Amercian Silver S.A.C. (AS) must
apply for mining permits and pay for all costs associated with
mining.
If shipment of material has not proceeded 6 months from the
official registration with the Peruvian government, AS must pay
$5000 USD per month or forfeit the mining assignment. AS had
indicated there were access problems to the site and a one month
extension was provided. The current date for production to start is
now September 24, 2009. Should production not start, the monthly
fee of $5,000 USD will be due as of October 1, 2009.
Results from a 2007 exploration program give copper contents
that vary from 0.03% to 12.96% and average 4.25% (n equals 49).
Silver concentrations vary between 0.3 to 139.0 g/t and average
16.10 g/t (n equals 49). Mineralization is locally gold anomalous
with concentrations reaching up to 1.67 g/t.
This News Release has been reviewed by Luc Pigeon, M.Sc., P. Geo
and Qualified Person in the sense of NI 43-101 for the Espanola
Property.
On behalf of the Board of Directors,
A. Paul Gill, President & Director
We Seek Safe Harbor.
Contacts: Grenville Gold Corporation A. Paul Gill President
& Director Direct: (604) 303-1061 www.grenvillegoldcorp.com
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