Grizzly “GZD” Commences 2nd Potash Test Well, Alberta & Adds to Gold Copper Discovery in Greenwood, BC

Highlights of December 6th news release :

  • Grizzly announced that a drill rig was mobilized on November 28th to complete a test well on the South Block of the Company’s 100% owned Alberta Potash Project near Medicine Hat, Alberta.  Drilling commenced on November 29th and is proceeding to core point at approximately 1,650 m below surface.  Once the well is completed and the core  is forwarded to the Saskatchewan Research Council in Saskatoon, Sask., geochemical results are expected to be released early 2012.
  • The first well on the 50:50 owned Provost Permits was completed in mid-November and results are expected sometime early January 2012.
  • On the Dayton target, the 2nd drill hole has yielded a wide, bulk tonnage style, low grade gold-copper zone of mineralization grading 0.14 g/t Au and 0.03% Cu over 121.5 m of core length and mineralization starts at surface. The style of mineralization and alteration is in line with intrusion related porphyry style Au-Cu deposits.
  • The drill has been moved to the Motherlode area and commenced a 4-6 hole exploration program.  Once complete, the drill will be moved to one or more targets at the Overlander and/or Ket 28 areas.  Drilling is expected to continue to about mid-December with the plan to drill a total of approximately 4,000 m.  These assay results are anticipated to be released in mid to late January 2012.

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