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Grizzly Provides Update on Exploration at Greenwood, BC and Grizzly Greenwood Plans for 2019
Edmonton, Alberta--(Newsfile Corp. - February 25, 2019) - Grizzly Discoveries Inc. (TSXV: GZD)...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Provides Update on Exploration at Greenwood, BC and Grizzly Greenwood Plans for 2019Edmonton, Alberta--(Newsfile Corp. - February 25, 2019) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (\"Grizzly\" or the \"Company\") announces that it has been advised by Kinross Gold Corporation's wholly owned subsidiary, KG Exploration (Canada) Inc. (\"Kinross\") that it has completed its 2018 work program on the Grizzly Greenwood property, located near Greenwood in southern B.C. The 2018 work program, through drilling, has confirmed the presence of extensive epithermal alteration at the Midway target area.Kinross is planning further exploration within the Greenwood option area for 2019. Current plans and budget are in planning are still to be confirmed.The portions of Grizzly's Greenwood Project being explored by Kinross is 100% owned by Grizzly Discoveries Inc. and includes 131 claims that form a contiguous package totaling approximately 27,346 hectares, representing approximately one third of Grizzly's land holdings at Greenwood. Under the terms of a September 2015 agreement, KG Exploration (Canada) Inc. can earn a 75% interest on the optioned land pursuant to an Option Agreement with Grizzly on portions of its land holdings in southeastern British Columbia, by incurring US$3 million in exploration expenditures over a 5 year period. KG Exploration (Canada) Inc. has incurred approximately CDN$1,280,500 in exploration expenditures to date.Highlights of the 2018 Kinross Exploration ProgramThe 2018 exploration program drilled 4 HQ core holes at the Midway epithermal target area, immediately east of 2017 drilling, focusing on a structure aligned with a significant hydrothermal breccia showing. In addition, limited surface sampling and geological mapping were carried out at the Midway and a few other target areas. A total of 1,420 m of core drilling was completed in 4 holes at the Midway target area, testing the down-dip extent of hydrothermal features documented on surface. KG Exploration completed approximately $CDN370,984 worth of exploration during 2018.Drilling, at the Midway epithermal target area in 2018, yielded weak gold and silver mineralization with up to 0.25 grams per tonne (g/t) gold (Au) and up to 7.93 g/t silver (Ag) over 1.0 m core length in hole 1, from a hydrothermally brecciated and intensely argill...