Grand Pacaraima Releases Text of Core Assay Report
CARACAS, VENEZUELA, Aug 08, 2006 (MARKET WIRE via COMTEX) -- August 8th, 2006 - Grand Pacaraima Gold Corp.(PINKSHEETS: GPGD) hereby releases the English translation of the Core Assay Report;
Metallurgica de Mineras S.A.
4 Avenida del Iman S/N
Cindad Universitaria
Merxico, D.F.
July 31st, 2006
Metallurgica de Mineras S.A. has completed the core assay project contracted for the Venezuela Investment S.A. concession.
Guidelines specified under the consulting agreement were spacing requirements of 25 meters at a specified depth of 5 meters or less. Four quadrants each NE, NW, SE, SW were sampled for the Cerro Trompa, San Miguel, Zapata and Mosquito Mines located in the region 8-12 kilometers northeast of Icabaru, Venezuela.
In comparison to previous sampling of these four mines, the northeast quadrant of Cerro Trompa at 87.53 grams per ton or 2.81 ounces per ton greatly exceed our expectations.
Seven highly mineralized outcroppings have been examined outside of the four principal mine areas. These elevated mineralized zones extend the Semana del Sur district to over 7.9 kilometers between both the Curutu and Caruai river basins. An additional zone northward to the Chim-Tepui region must also be delineated. Recoverable gold reserves of 3.6 million ounces compare with the indicated reserves exceeding 5 million ounces.
Metallurgica de Mineras S.A. therefore recommends the execution of a major development venture on the concession within the Semana del Sur district.
Kindest Sentiments,
Carlos Rodriguez, C.M.E.
Metallurgica de Mineras S.A.
Core Assay Project for the Venezuela Investment S.A. Concession
Mines/Quadrants Grams of Gold per ton
(GPT/AV)
San Miguel NE 24.62
San Miguel NW 37.78
San Miguel SE 43.08
San Miguel SW 19.23
Cerro Trompa NE 87.53
Cerro Trompa NW 46.81
Cerro Trompa SE 65.92
Cerro Trompa SW 35.46
Zapata NE 36.52
Zapata NW 18.73
Zapata SE 33.58
Zapata SW 27.81
Mosquito ME 12.36
Mosquito NW 9.21
Mosquito SE 14.43
Mosquito SW 6.67
Safe Harbor
This press release may contain certain statements that constitute forward-looking statements within the meaning of The Safe Harbor Provisions of the Private Securities Litigation Act of 1995. The words may, would, will, expect, estimate, anticipate, believe, intend and similar expressions are intended to identify forward-looking statements which are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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Investor Relations
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SOURCE: Grand Pacaraima Gold Corp.
