Grizzly Discoveries is a Canadian exploration company that lists on the OTCQX and TSX Venture Exchange. The company focuses on exploring for potash in Alberta; world-class gold and base metal deposits in British Columbia; and diamonds in Alberta.
Grizzly holds, or has an interest in, metallic and industrial mineral permits for potash totalling more than 2.34 million acres along the Alberta-Saskatchewan border. The U.S. Geological Survey’s assessment indicates that the Potash Mineable Area continues into Alberta from Saskatchewan. The company is targeting a 250-500 million tonne (mt) deposit which at 20 percent K2O would generate a 50 -100 mt Potash deposit if successful. Resource drilling and an NI 43-101 resource estimate will be released by Q3 2012.
There exist drill holes with up to 21.6 percent K2O on the company’s land and up to 25 percent K2O on a nearby property. There is the historic Unity Potash Mine 45 km east of existing company lands, and the Agrium Vanscoy Potash Mine is 200 km east of Grizzly’s lands. There is significant Potash in drill core or indicated by gamma logs (greater than 20 percent K2O) at depths ranging from 1,060m to 1,675m.
The Greenwood British Columbia Gold, Silver, and Copper Project is considered underexplored due to historically fragmented land ownership. Seven km south of Grizzly’s property is Kinross’ 1.6 million oz Buckhorn Gold Mine (avg. grade 16 g/t). Midway’s 2M+ oz Golden Eagle mine gold resource is approximately 50km south. Electromagnetic surveys flown and field sampling generated samples grading up to 129 g/t gold and drill intersections of up to 8.75 g/t over 3.0 m and 1.0 g/t over 30.0 m. The 2011 Gold/Silver/Copper drilling program consisted of 5,000 – 6,000 m of drilling with results expected by Q1 2012.
Grizzly also currently holds more than 600,000 acres in diamond properties, which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta. Following a 12 drill hole program in 2008, three new diamond bearing kimberlites were discovered on the Buffalo Head Hills property. There are seven kimberlites on the property with four diamond bearing. Bulk sampling to assess the presence of a large stone size population is planned for 2012–2013 for the two most promising kimberlites.
In January 2012, Grizzly Discoveries announced assay results from their late-2011 exploration drill program at their Greenwood Gold Project in British Columbia. This included the discovery of a new gold-silver zone in the Motherlode area. Grizzly has received results for six holes drilled in the Motherlode area. The company is planning to follow-up the results at the Motherlode area with further drilling. They are also planning to complete drilling at the Overlander and P5 targets in the Golden Crown – Phoenix area, where gold in soil anomalies have undergone identification in association with EM anomalies identified by ground HLEM surveys.
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