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Grizzly Discoveries (TSXV:GZD) prepares for geophysical work in British Columbia
  • Grizzly Discoveries (GZD) is preparing for a geophysical survey at its wholly owned Robocop property in southeast British Columbia
  • The company has engaged Geotech to carry out a 400 line-kilometre helicopter-borne Versatile Time Domain Electromagnetic (VTEM) and magnetic survey
  • Geotech's survey is scheduled to begin later this month with a completion date expected a couple of days thereafter
  • The company also completed the second tranche of a private placement, raising a further C$244,300
  • Grizzly Discoveries is currently up 8.33 per cent to 6.5 cents per share

Grizzly Discoveries (GZD) is preparing for a geophysical survey at its wholly owned Robocop property in southeast British Columbia.

Located near the hamlets of Grasmere and Roosville, the property covers 2,770 hectares and consist of five mineral claims, all of which are accessible by road.

The Edmonton-based mineral exploration company has engaged Geotech to carry out a 400 line-kilometre helicopter-borne VTEM (Versatile Time Domain Electromagnetic) and magnetic survey, a method which has proven successful in guiding drill programs within the Idaho Cobalt-Copper belt.

A total of 15 drill holes were drilled at the Robocop property from 1990 to 2008, yielding 0.134 per cent cobalt, 1.19 per cent copper and 33.8 grams per tonne of silver over 1.23 metres, as well as 0.14 per cent cobalt, 0.9 per cent copper and 2.7 grams per tonne of silver over 3.1 metres.

In addition to the planned geophysical work, Grizzly has closed the second and final tranche of a private placement that was launched on October 30, raising a further C$244,300.

Overall, certain funds managed by Sprott Asset Management LP subscribed for 2.86 million flow-through units, while a number of directors, management and insiders of Grizzly Discoveries subscribed for an aggregate of 300,000 units and 130,000 flow-through units.

"We are very excited to continue our 2020 exploration program at our Copper-Cobalt prospective Robocop property following our recently completed drilling campaign at Ket-28," said Brian Testo, CEO of Grizzly Discoveries.

"Drilling results from Ket-28 are expected soon and we look forward to building of the results for a busy 2021," he added.

Grizzly Discoveries is currently up 8.33 per cent to 6.5 cents per share at 1:11pm EST.


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