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Kinross' KG Exploration Completes 2015 Work Program, Submits Plans for 2016 Exploration on 75% Option from Grizzly on Greenwood Property, BC
EDMONTON, AB / ACCESSWIRE / April 18, 2016 / Grizzly Discoveries Inc. (TSXV: GZD) (OTC Pink: ...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Kinross' KG Exploration Completes 2015 Work Program, Submits Plans for 2016 Exploration on 75% Option from Grizzly on Greenwood Property, BCEDMONTON, AB / ACCESSWIRE / April 18, 2016 / Grizzly Discoveries Inc. (TSXV: GZD) (OTC Pink: GZDIF) (FSE: 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 completed its 2015 work program on the Grizzly Greenwood property, located near Greenwood in southern B.C. The option is a large property which includes 131 claims that form a contiguous package totaling approximately 27,346 hectares, representing approximately one third of Grizzly's land at Greenwood. The property is 100% owned by Grizzly Discoveries Inc. Under the terms of a September 2015 agreement, KG Exploration (Canada) Inc. can earn a 75% interest on 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.\nSummary of 2015 Kinross Results\nFive target areas were selected for first-pass fieldwork in late 2015 (Attwood-Overlander, March Creek, Kerr Creek, Bruce Creek and Midway). The mandate of the 2015 program was to assess and prioritize targets on the land package for further work in 2016. Work consisted of geological mapping, plus soil and rock sampling. A total of 116 rock samples and 1,155 soil samples were collected targeting epithermal and skarn related precious metal mineralization in Tertiary and pre-Tertiary rocks within the prospective northern extensions of the Republic and Toroda grabens in the Rock Creek to Greenwood area of BC.\nThe initial exploration by Kinross uncovered previously unrecognized epithermal quartz veining and precious metal mineralization in the Attwood-Overlander area hosted in pre-Tertiary limestone and siltstone. Rock grab samples from the exposed epithermal veins that range from 0.75 to 2 m in width returned up to 29.8 grams per tonne (g/t) gold along with a number of nearby and spatially associated Au-Ag-Bi-Sb-Hg-Mo-Te geochemical anomalies in soil samples. The epithermal mineralization is considered a high priority for follow-up exploration in 2016.\nEocene sediments and volcanics at March Creek just north of ...