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Grizzly Reviews Greenwood Cobalt Potential and Closes Private Placement
Edmonton, Alberta--(Newsfile Corp. - December 15, 2017) - Grizzly Discoveries Inc. (TSXV: GZD...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Reviews Greenwood Cobalt Potential and Closes Private PlacementEdmonton, Alberta--(Newsfile Corp. - December 15, 2017) - Grizzly Discoveries Inc. (TSXV: GZD) (OTC Pink: GZDIF) (FSE: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce that, based upon recent price increases and interest in Cobalt (\"Co\") for the battery manufacturing market, it has commenced a review of its extensive sampling database for its 227,000 acre Greenwood Project in south-central B.C. An initial review shows the presence of at least 13 rock grab samples with greater than 500 parts per million (ppm), including up to 986 ppm, Co from at least five separate target occurrences across the eastern half of Grizzly's Project area. The database shows an additional 31 rock grab samples that have yielded assays of between 200 and 500 ppm Co. Maps showing the anomalous values and locations for Co at the Project are provided below and on the Company's website by clicking the following link: Grizzly Discoveries Cobalt Maps (http://grizzlydiscoveries.com/index.php/projects/bc-precious-metals/greenwood-cobalt).A preliminary review of the sample database indicates that many of the rock samples with anomalous Co also contain anomalous values for copper (Cu) and precious metals including gold (Au) and silver (Ag). In many cases, the samples with anomalous Co were collected from Cu-enriched skarn and hornfels developed in Paleozoic sediments and intrusions, where the original sampling targeted precious metals. Grizzly has initiated a property wide review, including its extensive soil and drillhole database along with much of the historic data for the district that it has compiled over the years. The goal will be to target potential Co-Cu-Au-Ag mineralization associated with skarn across the district and come up with targets for follow-up exploration during 2018. As disclosed in the Company's October 2nd, 2017 news release, Kinross Gold Corporation's wholly owned subsidiary, KG Exploration (Canada) Inc. (\"Kinross\") has notified Grizzly that it has completed its 2017 work program, including drilling, and that it is currently preparing a report and finalizing plans for additional work in 2018. Kinross expects to complete its assessment report and filing in early 2018. A summary of results from the 2017 program will be provided once received from Kinross. T...