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Kinross' KG Exploration Approves Plans for 2017 Exploration and Drilling on 75% Option from Grizzly
Edmonton, Alberta--(Newsfile Corp. - June 28, 2017) - Grizzly Discoveries Inc. (TSXV: GZD) ...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Kinross' KG Exploration Approves Plans for 2017 Exploration and Drilling on 75% Option from GrizzlyEdmonton, Alberta--(Newsfile Corp. - June 28, 2017) - Grizzly Discoveries Inc. (TSXV: GZD) (OTCPK: GZDIF) (Frankfurt: G6H) (\"Grizzly\" or the \"Company\") is pleased to announce that it has been advised by Kinross Gold Corporation's wholly owned subsidiary, KG Exploration (Canada) Inc. (\"Kinross\") that it has approved its 2017 work program on the Grizzly Greenwood property, located near Greenwood in southern B.C. The 2016 work program yielded identification of epithermal and skarn precious metal mineralization at the Mt Attwood-Overlander and Midway target areas, which will be a continuing focus of the 2017 program.The portions of Grizzly's Greenwood Project being explored by Kinross are 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 five year period. By the second anniversary of the agreement, 750 metres of diamond drilling must be completed along with US$750,000 in expenditures by September 23, 2017.Planned 2017 Work Program Highlights1,250 metres diamond drilling at Mt Attwood-Overlander and Midway areasGenerative work of mapping and sampling of high priority targets Planned expenditure totals US $352,000Summary of 2016 Kinross ResultsThe 2016 exploration program focused primarily at the Mt Attwood-Overlander and Midway target areas and included trenching, soil, rock and stream sediment sampling, geological mapping, along with geochemical analysis and reporting. Exploration at the Mt Attwood-Overlander and Midway target areas yielded newly-identified epithermal precious metal and skarn mineralization, as well as confirmation and extension of epithermal and skarn alteration and mineralization discovered during 2015. Fieldwork conducted at five separate target areas took place between May 1 and October 5, 2016. A total of 3,131 soil samples, 411 rock samples and 34 stream silt ...