Grandeza Resources Corp.
Grandeza Resources is pleased to announce that exploration programs have been implemented on their Gold and Copper properties.
Grandeza Resources Corp. / Key word(s): Miscellaneous Grandeza Resources is pleased to announce that exploration programs have been implemented on their Gold and Copper properties. Lima, Peru, October 31, 2011 – Grandeza Resources Corp. (1ZA.F) is pleased to announce that exploration programs have been implemented on their Gold and Copper properties. These constitute detailed geologic mapping, and surface sampling of the known veins and mineralized zones, for both underground exploration and start up production. Based in Lima, Peru, and operating since January of 2008, the company consists of two operations; the Protobello-copper project and the Exgemin-Gold project. Both projects focus on exploration, mine development as well as processing. The company has been producing revenues since 2008 and is poised for a major expansion due to proven gold and copper reserves and an increase in processing capacity. Processing capacity has been lacking in the both areas of Peru and allows the company to purchase and profit from local miners who would normally have to travel large distances to have their minerals processed. Grandeza’s Exgemin gold project is based in northern Peru and has an operational processing plant for 50 tonnes per day. It is the only gold processing plant in the area buying ore from local miners. The company’s gold veins, according to the company’s Geologist have considerable mineral resources and a surfeit of unprocessed ore is available from local miners at competitive prices. As Grandeza’s gold processing operation expands capacity it will not only contribute to Grandeza’s revenues but will also benefit the local miners in lower processing costs, obviating the need for them to pay to transport their ore long distances. Grandeza’s Portobello copper project is based in southern Peru. The company plans to build a 300t/d copper concentrate processing plant in Chala, Southern Peru, to process the ore that is to be mined out from its 2,100 Has property, located South East of Chala. There is some 500 t/d surplus copper ore production from the Nazca area mines that could be processed in the future, at the plant. The company has found several veins estimated at 165,000 tonnes of mineral resources grading 3,2%Cu/t, with some 30,000 tonnes grading 10%. Both projects are expanding as global demand as well as prices for gold and copper continue remain strong. Grandeza’s low cost of ore, continued availability of ore and low processing cost ensure profitable operations with significant expansion capacity. About Grandeza Resources Corp. Grandeza Resources Corporation, a Canadian registered public Company on the FSE, through its wholly owned subsidiary companies Exgemin and Porto Bello Mining, was formed to identify developed or producing mining properties in South American countries and to take advantage of management experience and expertise in the South American mining industry to identify mining prospects that lend themselves to rapid development, production and, ultimately, the enhancement of shareholder value. The Company focuses on opportunities in strategically important locations where prospectivity can be demonstrated by proximity to existing deposits. On behalf of the board of directors of GRANDEZA RESOURCES CORP.
(signed) ‘Alejandro Diaz’ President & CEO Website: www.grandezaresources.com About Forward-Looking Statements: Statements in this press release may be ‘forward-looking statements’. Words such as ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘expect,’ ‘intend’ and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. End of Corporate News 31.10.2011 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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