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Grizzly Announces Kinross Mobilization, Private Placement, and Exploration Plans
Edmonton, Alberta--(Newsfile Corp. - July 20, 2018) - Grizzly Discoveries Inc.  (TSXV: G...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Announces Kinross Mobilization, Private Placement, and Exploration PlansEdmonton, Alberta--(Newsfile Corp. - July 20, 2018) - Grizzly Discoveries Inc.  (TSXV: GZD) (OTC Pink: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce that Kinross Gold Corporation's wholly owned subsidiary, KG Exploration (Canada) Inc. (\"Kinross\") has informed Grizzly that a drill will be mobilized to the Midway Target within the Greenwood Project, located near Greenwood in southern B.C. Kinross is planning a 1,200 m drill program at the Midway area during July and August, 2018, to continue the proof of concept drilling at the Midway Epithermal Target intersected in 2017. Proof-of-concept drilling in 2017 intersected gold, silicification, argillic alteration and minor quartz veining in 2 out of 3 holes along strike, warranting further follow-up exploration, particularly to the east and down-dip at the epithermal target.Grizzly is also pleased to announce that it has closed on a private placement for gross proceeds of $55,000 (the \"Placement\"). Highlights of 2017 Kinross Exploration Program at Midway The portions of the Greenwood Project being explored by Kinross, 100% owned by Grizzly Discoveries Inc., includes 131 claims that form a contiguous package totaling approximately 27,346 hectares, representing approximately one third of Grizzly's land holdings at Greenwood. Kinross can earn a 75% interest on the optioned land pursuant to an Option Agreement dated September 2015 by incurring US$3 million in exploration expenditures over a 5 year period. By the second anniversary on September 23, 2017, Kinross had completed 1,129 metres of diamond drilling and had incurred US$750,000 in expenditures.Kinross geologists hypothesize that the Midway Epithermal target is an Eocene-aged epithermal system developed within Triassic clastic sediments and limestone, and Jurassic hornblende diorite intrusions, all unconformably overlain by Eocene Kettle River Formation sediments and Marron volcanics. A 3 +/- m thick blanket of massive silica (locally banded, brecciated and vuggy) occurs at the basal Eocene unconformity. Remnants of this silica blanket occur in outcrop, intermittently over a 1 x 1 km area, in some places replacing Triassic limestone. The massive silica contains elevated gold (\"Au\") (to 1.175 parts per million [ppm])...