GRIT International Inc.
GRIT INTERNATIONAL BEGINS WORK ON CANADIAN MINING PROJECTS
GRIT International Inc. / Key word(s): Miscellaneous GRIT INTERNATIONAL BEGINS WORK ON CANADIAN MINING PROJECTS SETS SCHEDULE TO BEGIN WORK IN TANZANIA GRANDE PRAIRIE, AB, Thursday November 11th, 2010: GRIT International Inc., 'GRIT' (FRANKFURT: 3GR1) is pleased to announce that GRIT's mining division GRIT Minerals and joint venture partner BCT mining have begun work and preparation on its Canadian mining properties. The project contains 12 hard rock properties with 29 claims and 63 placer claims. The hardrock properties cover over 4,200 hectares and the placer claims cover over 2,000 hectares. BCT Mining has now received its first cash payment from GRIT International and geologists are now preparing schedules for work to begin in the spring, along with additional testing and the preparing of 43-101 compliant documents. Results of the 43-101 compliant documents will be announced soon, with data to be added to the website upon completion of work by GRIT Minerals mining engineer Al Beaton and mining technician Greg McKee. Overall, the total placer projects have the potential to produce significant ounces of gold for many years. This package comprises one of the largest and most diverse placer projects in British Columbia, Canada. The famous Cariboo, Barkerville, Atlin, and Bridge River Goldfields are part of this rich placer package. When total volume of mineable material and conservative grade estimates are calculated, contained gold exceeds $3 billion. The hardrock portion of the Canadian mining program is very comprehensive and the expected lifespan of the program is for a minimum of 25 years of production based on the sheer volume of material to process and gold to extract. In total there are 29 hardrock claims to be accessed, studied and put into production. Properties are located in the well-known Bralorne section of British Columbia Canada, this is a large section well known to mining companies world-wide. Both the placer and hardrock properties are being worked simultaneously and GRIT is currently contracting additional geologists to begin work on this 2000 hectare area. Pilot North and Mandy 24 are two of the largest claims GRIT is working on and results of preliminary work should be available by February 2011 weather permitting. Preliminary information indicates that these hardrock properties could produce up to 2,000,000 ounces of gold over the next 10 years and will continue to produce well into the future. In addition to the above properties, the company is also focused on two of its premier projects, 'Little Gem' and 'Jewel'. The project consists of over 4,500 hectares, with 19 targets already selected and was optioned by Gold Bridge mining another GRIT Minerals partner. This is a very significant project and has the potential to produce 1,000,000 ounces of gold or more which is very significant and quite exciting. In a technical report written by geologist JT. Shearer, he stated the following: 'It is considered significant that the Little Gem and Jewel mineralization occurs in theBralorne Gold Camp. There are numerous variations on the gold-in-quartz vein model which was such a prolific producer of gold to the southeast in the Bralorne-Pioneer veinsystems which produced in excess of 117,800 kilograms of Au ( 3.7 million ounces ) fromore with an average grade of 9.3g/t.' In October of 2007, Mr. Shearer collected underground samples of mineralization that assayed up to 2.82 ounces of gold per ton. Out of 142 samples collected, only one sample assayed above trace values. Further encouraging information was stated in a report from 1979 when airborne geophysics, VLF-EM magnetics and soil geochemist test were completed found the following: '…are quite encouraging and show the Little Gem zone to extend to a much greater length. This is a positive indication of the zones being well-faulted or sheared.These areas are therefore much more amenable to sulphide mineralization.' (DavidG. Mark, Geophysicist, for Major Resources Ltd., Ass't Report 7704 on Roxey CreekProperty, Sept.10, 1979). The 'Jewel' by contrast is located just 1.3 kilometers from the 'Little Gem'. The average gold content of the ore is almost 2 ounces per tonne across the width of the vein in a serpentine body. This information was made available by the BC government and is based on work completed by Goldbridge Mining. Additional testing and work is required, but based on the above information, more than warranted. COMPANY SETS SCHEDULE TO BEGIN EXPLORATIONIN TANZANIA Tanzania represents a very exciting possibility for GRIT Minerals. For years locals mined in Tanzania by hand with just a chisel. In the early 1990's it was thought that this area of Tanzania may contain maybe 1,000,000 ounces of gold. Twenty years later it appears as though there is a minimum of 50,000,000 ounces in the ground in the Handeni area of Tanzania. Locals would process the rock material in small ball mill type crushers and then by gravity water sluice box and final hand panning methods to recover the gold. They have reported recovering from 40 to 60 grams of gold per 25 kilogram bag of recovered rock (Approximately 40 bags of recovered rock would equal a tonne). The company has no independent verification of this grade or recovery, but other mining companies in this part of Africa have had great success so GRIT Minerals plans to do extensive exploration work in this area. The target property is a large 50 square kilometer area, very close to the successful Canaco Resources property. The company expects to spend $1,000,000 testing, exploring and completing 43-101 documents in order to put a work program together that will deliver a successful result. The project has been put together by executives at BCT mining. Tanzania is a major priority for the company and GRIT Minerals expects to have a crew on the ground there by late February. Allan J. Beaton from GRIT Minerals will be working closely with BCT mining and engineers. Mr. Beaton P. Eng. is a senior Mining Engineer with 35 years of professional mining experience in both large and small operations. Allan became a member of the Association of Professional Engineers in 1975 after graduating from St. Francis Xavier University with degrees in Geology and Engineering. ###
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