- Grizzly Discoveries (GZD) is gearing up to launch a first phase of drilling at its high-grade Ket 28 property, which sits within the broader Greenwood Project
- The company plans to drill more than 2,000 metres across at least 11 holes, targeting a previously identified zone of gold mineralisation
- It is expected to cost approximately C$500,000 and will assist in the development of a maiden mineral resource estimate
- Full Force Diamond Drilling has been contracted to carry out the program, which is anticipated to begin in the next 10 days
- Grizzly Discoveries (GZD) is currently steady at 6.5 cents per share, as of 3:07pm EDT
Grizzly Discoveries (GZD) is gearing up for its first phase of drilling at the Ket 28 property, which sits within the broader Greenwood Project.
Located in the south-central portion of British Columbia, the Greenwood Project covers roughly 180,000 contiguous acres in the historically productive Republic-Greenwood Gold District.
Previous rock sampling work at the Ket 28 property returned significant results, including assays up to 53.2 grams per tonne of gold. A ground magnetics and horizontal-loop electromagnetic survey was also completed in earlier exploration activities, indicating the presence of a north-west oriented structure and a large magnetic anomaly.
Over the course of this initial phase of drilling, Grizzly Discoveries intends to drill more than 2,000 metres across at least 11 holes, focusing on further testing this mineralised zone with the ultimate goal of developing a maiden mineral resource estimate.
Full Force Diamond Drilling has been contracted to carry out the program, which is expected to cost approximately C$500,000 and is scheduled to begin within the next 10 days.
Full Force has already begun mobilising its crews and equipment to site, and Grizzly Discoveries is now in the process of finalising drill collar locations in consultation with the relevant landowners, First Nations groups and government officials.
Brian Testo, CEO of Grizzly Discoveries, said the drilling work, in conjunction with a favourable precious metals economy, will bolster the company's efforts at other projects.
"We are excited to start our drill program, and get back to developing our initial resource estimate of gold mineralisation on our expansive Greenwood property.
"We expect drilling results will permit us to take advantage of the current favourable precious metal prices to further our exploration efforts in southern British Columbia in 2020 and beyond," he added.
Grizzly Discoveries (GZD) is currently steady at 6.5 cents per share, as of 3:07pm EDT.