Highlights of news release dated January 20th, 2011. Please visit Grizzly’s website for full details www.grizzlydiscoveries.com.
- Grizzly announced that it has acquired a 100% interest in more than 430,000 acres by staking 22 metallic and industrial mineral (MAIM) permits along the Alberta-Saskatchewan border near Lloydminster and Medicine Hat. The additional staking brings the Company’s 100% owned land package to more than 1.88 million acres, all of which is underlain by the potash-bearing Prairie Evaporite Formation.
- In a separate recent transaction, Grizzly in conjunction with Pacific Canada Potash Ltd. (Pacific), a separate arms length company, have staked an additional 458,000 acres in 21 MAIM permit applications centered on the town of Provost along the Alberta-Saskatchewan border. This brings Grizzly’s total MAIM permit land holdings for potash to more than 2.34 million acres. The Company’s potash property is road accessible year round.
- The presence of potash beds within the uppermost portion of the Prairie Evaporite in east-central Alberta near and along the Saskatchewan border is indicated by geological maps (and reports) produced by the Alberta and Saskatchewan governments. The author suggested the potash minerals “are of the same composition and depositional sequence and depth as the potash at Unity and Saskatoon, Saskatchewan”, currently the location of a number of potash mines. The reported occurrence of potash minerals is from a depth of approximately 1,061 meters below surface.
- APEX Geoscience Ltd. Of Edmonton, Alberta has recommended that the Company conduct an aggressive Stage 1 seismic and drilling program in order to identify the most prospective areas of potash on the property. Once the areas that are considered most prospective for economic concentrations of potash are identified, the Company would proceed to Stage 2 resource type drilling.