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Grizzly Enters into Option Agreement on Its Ket-28 Property in Southeastern BC
Edmonton, Alberta--(Newsfile Corp. - August 10, 2021) -  Grizzly Discoveries Inc. (TSXV:...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Enters into Option Agreement on Its Ket-28 Property in Southeastern BCEdmonton, Alberta--(Newsfile Corp. - August 10, 2021) -  Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Option Agreement\") with Hi-View Resources Inc. (\"Hi-View\") for its 80%-owend Ket-28 exploration project in Southeastern BC, Canada. Under the terms of the Option Agreement, Hi-View will earn a 60% working interest in the property upon completion of the following: Cash payments totaling $500,000 consisting of: (i) $5,000 upon signing of the Option Agreement; (ii) $15,000 upon Hi-View's listing on the CSE; (iii) $50,000 on the first anniversary in order to extend the option; and (iv) further payments totaling $430,000 paid on the first through fifth anniversary dates of Hi-View's listing on the CSE or other recognized stock exchange;Payments totaling 800,000 shares of Hi-View consisting of: (i) 200,000 shares upon Hi-View's listing on the CSE; (ii) 120,000 shares each of the first through fifth anniversary dates of Hi-View's listing upon the CSE or other recognized stock exchange; andExpenditures on the Ket-28 property totaling $1,100,000 consisting of: (i) $100,000 prior to December 31, 2022; (ii) $50,000 prior to the first anniversary date of Hi-View's listing; (iii) $200,000 prior to the second anniversary date of Hi-View's listing; and (iv) $110,000 of spend prior to each of the third through fifth anniversary dates of Hi-View's listing.About the Ket-28 PropertyThe Ket-28 claims group is comprised of 16 claims covering 3,432 ha and are part of the Company's larger Greenwood Property located around the town of Greenwood in southeastern BC along the US border.Historic Drilling at the Ket 28 prospect, located within the Rock Creek claim group of the Greenwood Project, has intersected high grade gold with 52.19 grams per tonne (g/t) Au over 3.35 m core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 prospect followed up the historic drilling in the mid 1990`s with up to 2.77 g/t Au over 11 m core length and 8.75 g/t Au over 3 m with a higher grade zone of 11.90 g/t Au over 2 m core length. In 2020, Grizzly completed fifteen drill holes intersecting broad near-surface gold mineralization with key intervals includ...