Grenville Gold Corporation

Grenville Gold Corporation

January 07, 2005 13:02 ET

Grenville Set to Drill Kimberlite Targets


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GRENVILLE GOLD CORPORATION

TSX VENTURE SYMBOL: GVG

JANUARY 7, 2005 - 13:02 ET

Grenville Set to Drill Kimberlite Targets

TORONTO, ONTARIO--(CCNMatthews - Jan. 7, 2005) - Grenville Gold
Corporation (TSX VENTURE:GVG) has recently received and processed
results from two soil geochemical surveys conducted by its private arm's
length joint venture partner in November 2004 on its Parkman Township
option property, 65 km north of North Bay, Ontario. The property is
located on the western margin of the Lake Timiskaming Structural Zone.
Eight previously identified priority magnetic targets for kimberlite
were tested at 167 sample sites on 6 grids. Duplicate samples were taken
at each site. One batch was analysed by the Mobile Metal Ion - Diamond
method (MMI-D) and the other by Soil Gas Hydrocarbon (SGH) analysis and
interpreted.

MMI geochemistry is a cost effective surface exploration tool. The MMI
Technique measures mobile metal ions in surface soils. These mobile
metal ions are released from ore bodies and travel upward toward the
surface. Using sophisticated chemical processes and instrumentation, the
MMI Technique is able to measure these ions, in surface soils, to
determine accurately where buried mineralization is located. Under the
cutting edge SGH system, each soil gas hydrocarbon sample signature
(like a fingerprint) is independently evaluated for kimberlite signature
content. An interpretation is made as to the location of a buried
target, and the probability of it being a possible kimberlite pipe.

Five of the eight priority magnetic target sites tested produced
coincident MMI-D response ratio and SGH anomalies attributable to buried
kimberlite. This testing was recommended by the consulting geologist who
was retained by Grenville's joint venture partner to do an independent
sampling and evaluation of the property. The independent geologist
stated in his N.I. 43-101 property report that "In addition to the
unusually high concentration of kimberlite minerals, the Parkman
kimberlite mineral anomaly contains many preserved crystals and abundant
grains with uneroded magmatic textures on some grain surfaces.
Observations of reaction rims and shagreen texture indicate the
kimberlite minerals are derived from a local and potentially
diamond-bearing kimberlite source(s)."

Diamond drilling is scheduled to commence about January 17, 2005 to test
each of these five combined targets generated. Five 100-m diamond drill
holes will test these targets and it is anticipated a sixth will be
required to follow up results obtained. Grenville's time to complete
this work under its option agreement has been extended to April 10, 2005.

Timothy J. Beesley is Grenville's responsible Qualified Person and has
reviewed and verified the technical information contained in this news
release.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Grenville Gold Corporation
    Timothy J. Beesley
    President
    (416) 253-1964
    (416) 253-9418 (FAX)
    tjbeesley@hotmail.com
    or
    Grenville Gold Corporation
    C. James Laidlaw
    V.P.
    (613) 473-5065
    j.laidlaw@sympatico.ca
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.