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Enter Symbol
or Name
USA
CA



Grizzly Discoveries Inc
Symbol GZD
Shares Issued 67,086,714
Close 2019-08-09 C$ 0.05
Market Cap C$ 3,354,336
Recent Sedar Documents

Grizzly optionee begins fieldwork at Greenwood

2019-08-13 13:03 ET - News Release

Mr. Brian Testo reports

GRIZZLY PROVIDES UPDATE ON ACTIVITY AT ITS GREENWOOD PROPERTY

Grizzly Discoveries Inc. has provided an update regarding current activity and 2019 plans for its Greenwood property in southeastern British Columbia.

Kinross Gold Corp.'s wholly owned subsidiary, KG Exploration (Canada) Inc., has initiated fieldwork at Greenwood. The primary objective of the 2019 Kinross generative and target delineation work is to continue to explore the mineralization potential of the Greenwood property.

Kinross' 2019 fieldwork will include:

  1. Bruce Creek area -- field reconnaissance and detailed alteration mapping;
  2. Midway -- rock sampling, detailed geological mapping and detailed alteration mapping;
  3. Kerr Creek area -- rock sampling, detailed geological mapping and detailed alteration mapping.

The portions of Grizzly's Greenwood project being explored by Kinross is 100 per cent owned by Grizzly Discoveries and includes 131 claims that form a contiguous package totalling approximately 27,346 hectares, representing approximately one-third of Grizzly's landholdings at Greenwood. Under the terms of a September, 2015, agreement, KG Exploration can earn a 75-per-cent interest on the optioned land pursuant to an option agreement with Grizzly on portions of its landholdings in southeastern British Columbia, by incurring $3-million (U.S.) in exploration expenditures by Sept. 23, 2020.

Grizzly 2019 Greenwood exploration plans

Grizzly has been issued drilling permits for the Ket 28 area from the British Columbia Ministry of Energy and Mines. The permits are for up to 25 drill sites and up to 10,000 metres of diamond drilling. The company has planned an initial 11 drill targets at the Ket 28 prospect, located within the Rock Creek claim group of the Greenwood project. The initial Ket 28 drill program is expected to cost approximately $400,000 to $500,000 and the company is seeking flow-through financing for this drill program. The program will target a gold-prospective zone in the central portion of the Ket 28 prospect where the gold mineralization is open along strike and to depth, with the intention of expanding the currently defined mineralized zone and developing a maiden mineral resource estimate.

Historic drilling in 1994 intersected high-grade gold with 52.19 grams per tonne (g/t) gold (Au) over 3.35 metres core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 prospect, following up the historic drilling in the mid 1990s, yielded up to 2.77 g/t Au over 11 metres core length and 8.75 g/t Au over three metres, with a higher-grade zone of 11.90 g/t Au over two metres core length. Wider near-surface intervals of lower-grade mineralization were intersected, with 1.02 g/t Au over 13.5 metres core length and 1.19 g/t Au over 10.35 metres core length.

Stock options issued

On Aug. 12, 2019, Grizzly's board of directors authorized the issuance of an aggregate of 250,000 stock options to an officer of the company with an exercise price of five cents per option expiring no later than Aug. 12, 2024. The options were authorized under the terms of the company's stock option plan and are subject to acceptance by the TSX Venture Exchange.

About Grizzly Discoveries Inc.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange, focused on its precious metals and cobalt-copper properties in southeastern British Columbia. The company holds, or has an interest in, over 180,000 acres of precious base metal properties at its Greenwood property.

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