Grandview Gold Inc. (GVGDF.OB) acquires, explores and develops high-grade gold properties in low political risk environments such as the United States and Canada. The company is headquartered in Toronto and in the development stage. Grandview Gold holds mining interests in major gold districts including Red Lake, Ontario, Carlin Trend, Nevada, and in the emerging Rice Lake District of Manitoba. These mining interests range from 50% to 100% in eight mining properties and cover an estimated area of 13,740 hectares.
The Company was founded as Loisan Red Lake Gold Mines Limited in 1945 and then changed its name to Grandview Energy Resources Inc. in 1979. Since the addition of Paul Sarjeant as new President and CEO in November 2006, Grandview Gold has re-built its corporate structure, added the necessary personnel and mechanisms to advance its drilling programs and secured financing to support its exploration activities. Also joining the management team is Alex Korboukh, M.Sc.P.Geo (Russia, Israel) who is the Exploration Manager for Canada. Additionally, two well qualified geologists were added to the Canadian exploration team.
Grandview’s properties have shown to be potentially high in profit. Exploration studies indicate that Grandview Gold’s mineral deposits contain a very large volume of potentially gold-bearing mineralization. These mineralizations are estimated to exceed 32 million tons. The Pony Creek/Elliott Dome Property alone has inferred resources of 1.426 million ounces of gold, which represents a gross market value of $0.86 billion. The Company has also identified significant inferred gold resources at its Red Lake properties. Dixie Lake is estimated to contain approximately 110 thousand ounces and Sanshaw-Bonanza is believed to hold 24 thousand ounces. The Company’s existing prospects combined contain contingent gold resources estimated at approximately 1.56 million ounces. This estimates a suggested gross value of $0.9 billion.
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