#Kinross has completed its 2015 work program on the 131 claims that form a contiguous package totalling approximately 27,345 ha, representing one third of Grizzly’s land at Greenwood. Kinross can earn a 75% interest on optioned land by incurring US$3 million in exploration expenditures over a five year period.
Five target area were selected – Attwood-Overlander, March Creek, Kerr Creek, Bruce Creek and Midway – to assess and prioritize targets on the land package for further work in 2016. Kinross uncovered previously unrecognized epithermal quartz veining and precious metal mineralization at the Attwood-Overlander area. Rock grab samples from the exposed epithermal veins that range from 0.75 to 2 m in width returned up to 29.8 g/t gold. This is considered a high priority for follow-up exploration in 2016.
Rock and soil sampling at March Creek, Bruce Creek and Kerr Creek have returned anomalous precious metals and epithermal indicators and warrant follow-up exploration in 2016. The geochemical results at the Midway Target may indicate the presence of an epithermal overprint and further exploration is recommended for 2016.
Kinross has indicated that the initial objective for the 2016 program will be to continue to evaluate the potential of the various target areas, working up specific targets to move forward using detailed mapping along with geologic and deposit models as a guide as well as many of the regional data sets already completed by Grizzly to move certain targets to a drill testing stage, potentially in 2016. Many of the target areas on the property are currently at the generative stage, with only a few geophysical and/or geochemical based targets having been drilled by Grizzly to date.