Grenville Gold Corporation

Grenville Gold Corporation

January 15, 2010 13:06 ET

Grenville Reports Preliminary Underground Sample Results Including 1.85 Meters With 235.2 g/t Silver, 10.94% Zinc, 8.59% Lead and 0.812 g/t Gold at the Silveria Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2010) - Grenville Gold Corporation ("Grenville" or "the Company") (TSX VENTURE:GVG)(PINK SHEETS:GVLGF)(FRANKFURT:F9I)(WKN: A0KELU) is pleased to announce that it has interpreted the results from the Reserva Vein, level 345 sampling project. Level 345 is one of five levels developed prior to the Pacococha mine closing in 1991. The Reserva Vein is one of 33 reported veins at the Silveria Property (Stone & Godden, 2007) and is located within the recognized Millotingo-Pacococha polymetallic district near San Mateo, Lima, Peru. Renewed interest within this district by major European, Chinese and Japanese Mining Corporations (NYRSTAR, CHALCO, MITSUI) and recent National coverage by the Peruvian press (Gestion Business Journal) has prompted Grenville to release new preliminary exploration results on the Property. A 3D model of 42 km of adits, veins and stopes completed by Knight Piesold Engineering is available under the heading vidoe player on the front page of the Grenville website;

The geochemical survey targeted the initial 300 m of Level 345. It consists of 56 sampling lines containing one to three random chip samples taken within well defined areas. Initial limited sampling (83 samples) performed by the Company indicates that the vein mineralization is characterized by anomalous mineral contents which assays on average 74.8 g/t Ag, 2.20% Pb, 4.78% Zn and 0.29% Cu. The average mineralized width is 1.26 m. Table 1 outlines the best results obtained during the survey.

Highlighted Samples

Line n Width Au Ag Zn Pb
    m g/t g/t % %
5 1 0.50 n/a 211.0 5.01 9.99
25 1 0.90 n/a 134.0 3.66 4.07
35 1 0.80 n/a 312.0 10.25 5.93
45 1 0.60 n/a 240.0 5.82 2.18
235 2 1.85 0.812 235.2 10.94 8.59
275 1 0.60 0.453 446.0 15.65 21.30

Table 1. Selected Reserva level 345 sample results.

The current results are consistent with those reported within the Minefill Services Inc. (Stone & Godden, 2007) and SRK Exploration Services (Gilbertson & O'Donovan, 2008) independent 43-101 Technical Reports. These reports and the complete results of this press release are given in the Company's website.

The sample results approximate the average composition of the areas sampled and therefore are considered representative. However, the Property is at an early exploration stage and the current sampling results cannot be expected to reflect the true average value or composition over the 33 veins. A systematic sampling campaign of the entire mineralized structures is needed in order to get statistically valid average metal contents. The veins geologic and economic continuities have not been systematically studied; however, it is to be expected that vein deposits are typically discontinuous and formed by high grade zones separated by lower grade material.

Analyses for the samples reported herein were carried out by ALS Chemex S.A.C in Lima, Peru. ALS Chemex S.A.C is an International Organization for Standardization ("ISO") 9001: 2000-certified laboratory. The precious and base metals determinations were obtained using a combination of fire assay and/or atomic absorption spectroscopy depending on the metal content of the samples.

No quality control program was implemented by the Company to support this sampling program. ALS-Chemex is an ISO-certified laboratory and has a well-defined internal quality control protocol. All the reported results were within acceptable detection ranges (less than 2 standard deviation variation).

The technical information within this news release has been reviewed by Luc Pigeon, B.Sc., M.Sc., P. Geo and Qualified Person as defined by NI 43-101.

On behalf of the Board of Directors,

"A. Paul Gill"
President & Director

We Seek Safe Harbor.

Contact Information