Grandview explores promising gold deposit

Analysis

Canada’s Grandview Gold Inc. reports favorable first-pass drilling results on its United States grass-roots Angelina Gold property in the in Manitoba's emerging Rice Lake Gold District and further, that assays indicate the existence of two previously un-discovered gold zones on the property.

Grandview is a the Canadian junior gold company with high-potential gold properties in two major gold districts (Carlin Trend, Nevada and Red Lake, Ontario) and one emerging gold district (Rice Lake, Manitoba) - all at different levels of exploration and all delivering impressive gold numbers. “We firmly believe that, by virtue of its geological similarities to the 30 million ounce Red Lake Gold District and the return on investment delivered against historic exploration activity, Rice Lake has better than average potential for delivering major discoveries like San Gold's 1.4 million ounce Rice Lake Mine,” says Grandview President and CEO Paul Sarjeant.

The 2007 drill program for the property comprised 1,193 meters over seven holes in three targeted areas, namely the Discovery Shear, the Contact Zone and the Beaver Pond Vein.

Four holes over 743 meters were drilled to test gold enriched quartz veins in the 'Discovery Shear' area, including the 'Discovery Zone' first staked in 1925. The eastern edge of the Discovery Shear (Discovery Zone) was drilled by Gossan Resources in 2004 with shallow drill holes that returned grades of 3.4 g/T over 1 meters and 1.9 g/T over 4.2 meters. This season Grandview tested the Discovery Shear along approximately 350 meters of strike length, west of the historic Discovery Zone. Three of the four drill holes tested 50 meters below highly enriched surface samples (15.2 g/T, 16.5 g/T and 10.8 g/T gold) acquired during spring 2007 prospecting.

The fourth hole tested 50 meters below visible gold discovered by Grandview geologist in September 2007 prior to mobilizing the drill. Two of the four holes tested by the Company this season returned notable gold grades in the primary shear zone.

Two holes over 301 meters were drilled by Grandview in the 'Contact Zone' (host of the Discovery Zone), planned to test a 50+meters thick moderately quartz veined sericite-ankerite alteration zone along the contact between basaltic volcanic rocks to the north and a large gabbro intrusive body to the south. The Contact Zone had seen no previous drilling but spring 2007 prospecting had returned numerous anomalous gold enriched samples.

Only one 149 meter hole was drilled to test a quartz-ankerite vein (Beaver Pond Vein) that returned a 1.48 g/T gold assay collected by Gossan in 2003, but no significant assays were returned for this hole.

“We are confident about Angelina's future, given the highly enriched gold samples found during prospecting earlier this season and that, of the 238 samples collected from drilling, approximately 80% returned assays above anomalous gold enrichment.” concludes Sarjeant. (company press release)

ADVERTISEMENT

Stepping Beyond Hungary’s Borders Analysis

Stepping Beyond Hungary’s Borders

Operative corps for economic recovery decides on further mea... Government

Operative corps for economic recovery decides on further mea...

Healthcare Roadshow Highlights Innovation, Screening Awarene... Interview

Healthcare Roadshow Highlights Innovation, Screening Awarene...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.