Grizzly Discoveries – Gold, Diamonds, Potash
Overview
Listed in 2005, Grizzly Discoveries (TSXV:GZD, OTCQX:GZDIF) is a Canadian exploration company focused 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 totaling more than 2.4 million acres along the Alberta-Saskatchewan border. Grizzly currently has four precious-base metal properties in British Columbia totaling over 235,000 acres. 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.
Key Properties
Greenwood Property, BC
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The Greenwood property is located in south-central British Columbia and is easily accessible by road from Grand Forks or Greenwood. The property covers about 235,000 acres. The region is well known for gold, with more than 7 million ounces produced. Kinross’ Buckhorn Mine – located south of the Greenwood property – has a resource of more than 1.6 million ounces of gold.
In 2010 the company completed two drill programs at the Greenwood property and discovered widespread copper and low-grade gold associated with skarn-type alteration at Ket 28 and Copper Mountain; and excellent potential for discovery of large tonnage, bulk mineable, porphyry style copper-gold deposits at the high priority Dayton area near the historic Mt. McKinney gold camp based upon the presence of widespread copper-gold mineralization.
In 2011, drilling at the Dayton prospect resulted in gold and copper mineralization associated with a variety of altered intrusions and volcanics/sediments. 5 of 6 holes had widespread low grade Au and Cu including 0.43 g/t Au, 0.81 g/t Ag and 0.15% Cu over 51.0 metres.
At the Motherlode North prospect, 3 of 4 holes had widespread alteration and low grade Au including a new discovery that yielded an intersection of 1.56 g/t Au and 11.12 g/t Ag over 19.0 metres including 17.15 g/t Au and 41.7 g/t Ag over 1.5 metres.
In the Spring of 2012, the Company completed a 5 hole spring core drilling program totaling 1,364 metres at the Overlander and P5 targets, both in the Mount Attwood area. Two drill holes were completed in order to test two separate gold in soil anomalies coincident with electromagnetic anomalies and low grade gold was intersected in both drill holes with up to 0.1 g/t Au over 12.0 metres. At the P5 target area gold was found associated with pyrite bearing quartz veins in the basalt and ultramafic with a highest assay of 3.54 g/t Au over 1.5 metres.
Potash, Alberta
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Grizzly has acquired more than 900,000 acres along the Alberta-border Saskatchewan, and area recognized for potash production. The Company currently has a 100% interest in 752,000 acres in two major blocks, with the North block centered about the towns of Lloydminster and Provost and the South block Northeast of Medicine Hat. Grizzly holds 50% interest in an additional 187,000 acres in metallic and industrial mineral permits centered on the town of Provost along the Alberta-Saskatchewan border. The Company’s entire potash land holding is underlain by the potash-bearing Prairie Evaporite Formation. The property is road accessible and can be explored year-round.
The 1st Grizzly-Pacific Potash well that was drilled on the 50-50 land has the appearance of a wide low to moderate grade K2O intersection and displays evidence of post-depositional modification.
The Company also drilled one well hole on their 100% owned land with visual potash mineralization intersected from 1651.45 to 1655.70 metres (4.25m width) and resulted in grades of 2.62% K2O over 22.35 m including 0.3 m of 31.1 K2O. The Company plans to drill additional wells in the North block near the Vermillion well area.
Diamond Projects, Alberta
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Grizzly’s Buffalo Head Hills properties cover more than 600,000 acres and are located about 330km northwest of Edmonton. 41 kimberlites pipes have been discovered to-date, of which 29 are diamondiferous, and seven are wholly owned by Grizzly. The area has yielded promising results. Ashton Mining of Canada Inc. recently reported that a 22.8 tonne mini-bulk sample collected from the K252 Kimberlite yielded a grade of 55 carats per tonne. The K252 Kimberlite is located 21 km north of Grizzly’s Smokey Bear property.
In 2008 Grizzly completed a drill program at their Smokey Bear Property where a total of 965.5 m was drilled in 5 drill holes (BE-01 to BE-05). Drilling yielded 316 diamonds from 519 kg in BE-02, and 218 diamonds from 365 kg in BE-03. Both pipes require further bulk sampling.
To date, a number of diamond indicator minerals have been recovered from limited sampling of glacial outwash gravel, recent fluvial gravel and till on all three of Grizzly’s Buffalo Head Hills diamond properties.
Management
Brian Testo – President, Chief Executive Officer, and Director
Mr. Testo is an Alberta-based businessman who has been involved in mineral exploration in the province of Alberta for over 25 years. He is the president of Grizzly Gold Inc. which has held diamond leases since 1986 and formed joint ventures with companies such as Shear Minerals Ltd., Blue Diamond Mining Corporation, and Birch Mountain Resources Ltd. He is also the president of Grizzly Gold & Gravel Inc. which operates a gravel pit in Peers, Alberta.
Ian Lambert – Chief Operating Officer
Mr. Lambert is well known in the resource sector, having over 30 years’ experience in resource exploration and public company management. Mr. Lambert was formerly CEO and Director for twenty-one years of Trade Winds Ventures Inc. (“Trade Winds”), a TSX Venture Top 50 company which was developing a multi-million ounce gold project in Ontario prior to the sale of Trade Winds to Detour Gold Corporation in a transaction that valued Trade Winds at $84 Million. In addition to precious metals and mineral exploration and development, Mr. Lambert’s experience includes exposure to a wide range of business activities including oil and gas development, marketing, manufacturing, and software development.
Ben Hubert, BSc, MSc, MBA, ICD.D – Director
Ben Hubert brings a diverse range of experience to the board. He has enjoyed a successful career as a self-employed consultant focusing on the interrelationships between the environment, community and resource-based industries throughout Canada. Mr. Hubert has significant experience with mineral exploration projects conducted in remote and frontier areas, and serves on the board of directors of San Gold Corp. Mr. Hubert is the company’s audit committee chairman.
Douglas S. Turnbull, H.B.Sc., P. Geol. – Director
Douglas Turnbull is a consulting geologist and President of Lakehead Geological Services Inc. based in Vancouver B.C. and has been actively involved in diamond, precious and base metal exploration since 1983. Mr. Turnbull holds an Honours Bachelor of Science degree in Geology from Lakehead University and is a Qualified Professional Geoscientist recognized by the Association of Professional Engineers and Geoscientists of British Columbia.
Mr. Turnbull’s previous working and consulting experience includes Monopros Ltd., Goldfields Mining Corporation, Prime Exploration Ltd., Adrian Resources Ltd., Madison Enterprises Corp. and Oromin Explorations Ltd. Mr. Turnbull was part of exploration teams responsible for the exploration and development of the Eskay Creek Gold Deposit in British Columbia, Canada, the Petaquilla Cu-Au Porphyry Deposit in Panama, Mt. Kare Gold Deposit in Papua New Guinea and the OJVG Gold Deposits in Senegal. Currently Mr. Turnbull also serves as a director on the boards of Oromin Exploration Ltd., Salmon River Resources Ltd. and Astur Gold Corp.
Dr. Solomon (Sam) Pillersdorf – Director
Dr. Pillersdorf has been involved in the mining sector for over ten years, including funding start-up mining companies and sourcing and funding resource claims. He is currently on the advisory committee of a TSX Venture Exchange listed junior resource company, having previously served on its Board of Directors. Dr. Pillersdorf is Head of Rheumatology Outpatients and Head of Rheumatology training at the McMaster University Medical Centre.
Fraser Atkinson, C.A. – Director
Mr. Atkinson is a Chartered Accountant and has been a director and officer of a number of public companies. He is a Director and Chairman of Rara Terra Capital Corp., has served as CFO of Versatile Systems, Inc. and was President of Prospex Capital Corp., a company involved in providing financing for mining and exploration companies.
Jeremy Strautman – Interim CFO
Mr. Strautman graduated from the Northern Alberta Institute of Technology’s Bilingual Business Administration-Accounting Program in 2004. He has been involved in accounting and administration for the junior mineral exploration industry since 2005.
Michael Dufresne, M.Sc., P.Geol. – Consultant (APEX Geoscience Ltd.)
Mr. Dufresne is a partner with APEX Geoscience Ltd., a consulting company that has been operational for several years. His practical experience includes diamond, gold (placer and lode) and base metal exploration programs in Alberta, B.C., Yukon, Nunavut, Quebec, the NWT and internationally on behalf of industry and in conjunction with the Alberta Geological Survey and Department of Indian Affairs and Northern Development in the Yukon. Mr. Dufresne was first author of “Diamond Potential of Alberta” Alberta Geological Society Bulletin 63. APEX Geoscience Ltd. has been recognized with the discovery of kimberlites in Torngat, Quebec (39 reported kimberlite dykes) as well as the Kendu kimberlite, Alberta, the NIC2 kimberlite, the NWT, and the Aviat and Churchill kimberlites in Nunavut.
