Grizzly “GZD” Provides Update on Greenwood Gold Project-5,000 m of Drilling Planned

Grizzly Discoveries Inc. (TSX.V-GZD) released an update June 23rd on this year’s drill program at Greenwood, BC and below is a summary or highlights of this:

  • The Company has planned a 5,000 metre drill program on new and existing high quality targets.  “With a healthy treasury from this year’s successful financing, Grizzly has designed the 2011 Exploration Program on the Greenwood project as a systematic and scientific approach which we believe may lead to a new discovery in the Greenwood area,” stated Brian Testo, President and CEO of the Company, “and Stage 1 of the program, currently underway, will enable us to focus our drilling later in the year exclusively on high quality targets.”
  • To date, approximately 1,600 soil and rock samples have been collected and have been shipped to ALS Chemex in Vancouver for analysis.  More than 70 line-km of IP surveys and more than 20 line-km of HLEM and Promis EM surveys have also been completed.  The planned ground work is budgeted at $1.0 million and will continue into late July or early August.
  • The Company plans to commence drilling in late summer or early fall 2011 and has allocated a minimum budget of $1.2 million on 5,000 metres of drilling at Greenwood in 2011.

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