Grizzly Discoveries Inc. is pleased to provide an update in advance of the Prospectors & Developers Association of Canada convention at the Metro Toronto Convention Centre on March 2-5, 2014, at which Grizzly will be exhibiting.
Grizzly Discoveries' extensive and diverse portfolio of properties, including the potash-prospective Alberta Potash Project in Eastern Alberta, the diamondiferous-kimberlite hosting Alberta Diamond Project in North-central Alberta and the historically productive Greenwood Property in Southeastern British Columbia, cover an aggregate of over 700,000 hectares ("ha"), and is mostly underexplored. The Company is conducting a strategic review of all of the geological information that it has available on its properties, including historical information preceding their acquisition by Grizzly, as well as the Company's results from its exploration programs, to ensure that future exploration programs yield favourable results with near-term resource definition and development.
In particular, the Company has been focussed on target selection at its approximately 90,000 ha Greenwood Property, with a goal of discovering deposits with near-term resource-definition potential. In addition to the selection of the Ket 28 as a high priority high grade gold target, as previously announced (see the Company's news releases dated October 10, 2013 and November 26, 2013), the Company has re-evaluated results from exploration conducted in 2009 through 2011 at the Greenwood Property's Dayton prospect. The Company has concluded, based upon a reinterpretation of the geology and a determination of copper-equivalency* ("CuEq") values by incorporating coincident gold and silver values with the copper intersected in previous drill holes, that the Dayton prospect is a high priority copper-gold porphyry target. Drilling conducted at the Dayton Prospect in 2010 and 2011 indicated values greater than 0.12% CuEq over core lengths between 50 to 135 metres ("m"), with a number of shorter intervals in several of the drill holes yielding up to and greater than 0.40% CuEq.
Brian Testo, Grizzly's President and Chief Executive Officer, commented that "this re-examination of the Company's previous results has shed a new light on the Dayton prospect, and we at Grizzly are very optimistic that future drilling there will continue to yield favourable results and may lead to a significant discovery."
Source: http://www.grizzlydiscoveries.com/