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Grizzly Provides Greenwood Property Update and 2018 Exploration Plans
Edmonton, Alberta--(Newsfile Corp. - March 6, 2018) - Grizzly Discoveries Inc. (TSXV: GZD) (O...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Provides Greenwood Property Update and 2018 Exploration PlansEdmonton, Alberta--(Newsfile Corp. - March 6, 2018) - Grizzly Discoveries Inc. (TSXV: GZD) (OTC Pink: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce that it has submitted permit applications to conduct drilling at three targets, all located within its Greenwood Project area in southern B.C., including the Ket28, Motherlode North and Dayton targets. The primary focus of the Company's planned exploration activities during 2018 will be drilling at the Ket 28 gold target with the intent to outline a maiden resource. Exploration drilling is also planned for the Motherlode precious metal target and the Dayton copper-gold porphyry target, but will be dependent on financing activities. Additional follow up surface exploration is planned for a number of mineralized target areas that have yielded copper-cobalt geochemical anomalies in surface sampling obtained through the Company's previous exploration. The Company also announces that it has, since February 1, 2018, received gross proceeds of $142,075 and issued 1,961,000 common shares pursuant to the exercise of outstanding warrants and options with exercise prices between $0.05 and $0.075 per common share.Ket 28 Geology and Prior ResultsAt the Ket28, Grizzly and other explorers have intersected anomalous gold associated with sulphide bearing silicified sediments, hornfels and skarn. The gold mineralization is associated with several structures at the edge of a strong positive ovoid aeromagnetic anomaly that is 2 km in length by 1 km in width and is likely indicative of an underlying intrusion. The Ket 28 target is approximately 13 km northwest of Kinross' Buckhorn gold mine which is hosted in a pyroxene skarn south of the Canada-US border.Historic exploration in the 1990's by other explorers at the Ket 28 prospect, which is located within the Rock Creek claim group of the Greenwood Project, yielded high grade gold including up to 52.19 grams per tonne of gold (\"g/t Au\") over 3.35 m core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 target following up the historic drilling in the mid 1990`s yielded 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. Wider intervals of lower grade mineralization were als...