Grizzly Completes Stage 1 Drilling Program at Greenwood Gold Project
Grizzly announced that the Stage 1 drilling program of 1,590 meters in 11 drill holes at the Greenwood Gold Project has completed in early August.
Online, August 9, 2010 (Newswire.com) - Grizzly Discoveries Inc. (TSX VENTURE:GZD) (FRANKFURT:G6H) ("Grizzly" or the "Company") is pleased to announce that the Stage 1 drilling program of 1,590 meters in 11 drillholes at the Greenwood Gold Project, commenced during late June, has been completed in early August. Lone Peak Drilling of Kimberley, B.C., conducted the drilling. APEX Geoscience Ltd. of Edmonton, Alberta provided technical management and professional geological services.
2010 Drill Program
Approximately 950 m in 7 drillholes were completed on gold targets at the Copper Mountain area north of Midway. About 640 m in 4 drillholes was completed on the copper-gold-silver-platinum Sappho prospect in the Greenwood area. Stage 2 drilling is planned to commence during mid to late September once results have been received for the Stage 1 program and further land use permitting is in place for other targets in the Ket 28, Dayton and Motherlode areas.
The drill core is currently being logged and split with samples shipped to ALS Laboratory Group (ALS) in Vancouver, B.C. The Company expects that all core logging and sampling activities will be completed by mid August, 2010. The first batch of core samples has been shipped to ALS and initial assay results are expected in early to mid September, 2010.
2010 Fieldwork
Fieldwork consisting of geological mapping, rock, stream sediment and soil sampling along with ground geophysics has been ongoing since May, 2010 and will continue through to the Stage 2 drilling program. Fieldwork has been focused at a number of targets across the Greenwood Gold Project including the Copper Mountain, the Motherlode, Sappho, the Dayton and Ket 28 areas. To date, more than 800 samples have been collected across the property. Assays and trace element geochemical results have been received for just over half of the samples collected to date. Highlights include numerous selective high grade rock grab samples collected from the Copper Mountain area with up to 129.0 grams per tonne (g/t) gold (Au) obtained from the Coronation prospect and up to 19.3 g/t Au obtained from the Mabel Jenny prospect. Both prospects were drill tested in the stage 1 drilling program. The Dayton and Motherlode prospects have also yielded high grade gold results from selective high grade rock grab samples including up to 16.0 g/t Au from the Dayton prospect and 13.85 g/t Au from the Motherlode prospect. Additional sampling during 2010 at the Sappho prospect confirmed the presence of high grade copper (Cu) along with platinum (Pt), gold (Au) and silver (Ag). Selective rock grab samples have yielded greater than 2 percent (%) Cu from three spatially separate locations with up to 13.1 % Cu. High concentrations of Pt (up to 13.55 g/t), Au (up to 2.2 g/t) and Ag (up to 298 g/t) have been obtained from a number of selective rock grab samples. The Sappho prospect was drill tested with four holes during the Stage 1 drilling program.
The rock grab samples are selective by nature and are unlikely to represent average grades at any of the prospects sampled or across the property
About Grizzly Discoveries Inc.
Grizzly is an aggressive Canadian exploration company focused on exploring for world class gold and base metal deposits in British Columbia, and for diamonds and industrial minerals in Alberta. In British Columbia, Grizzly currently has four precious-base metal properties totaling over 235,000 acres. It currently holds more than 1 million acres in diamond properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta. Grizzly has also acquired metallic and industrial mineral permits for potash totaling more than 1.43 million acres along the Saskatchewan-Alberta border.
Grizzly trades on the TSX Venture Exchange under the symbol GZD, with 31,410,302 Common Shares issued and outstanding.
On behalf of the Board
Grizzly Discoveries Inc.
/s/ "Brian Testo"
Brian Testo
President
For further information, please visit our website at http://www.grizzlydiscoveries.com or contact Investor Relations:
Nancy Massicotte
IR PRO COMMUNICATIONS
Tel: 604-507-3377
Toll Free: 1-866-503-3377
Email: [email protected]
www.irprocommunications.com
Share:
Tags: commodities, copper, drilling, exploration, exploring, gold, investing, investment, mining, platinum, resources, silver
