Grizzly Discoveries is an aggressive but conscientious gold and base metals exploration company. The company has amassed a massive land package of stretching over 70km or 156,000 acres in a historically rich region of southern BC. Canada. This region has produced roughly 7 million ounces of gold, and Grizzly Discoveries has garnered more attention in this new rush with some strong results. I say aggressive because of the ability to pivot and stay whole during the difficult stretch of 2011-2019, and conscientious because the company, during all that time, kept the massive property without diluting the company or rolling back shareholders.
Grizzly is the single largest mineral titles owner the Greenwood District, which has historic mines in the area, as well as 50km from Fiore’s Golden Eagle mine with 2+ Million oz gold resource. The photo above illustrates the Kinross historical mines just south of the border. As we see from the photo below pulled from the corporate presentation, Grizzly’s land package surrounds Lexington and Golden Crown Mine Project.
Flagship Properties
Greenwood
Ket 28
This is Grizzly’s key precious metals project which is what the market is eager to uncover. Historic Drilling from the mid 1990`s intersected high-grade gold with 52.18 grams per tonne (“g/t”) Au over 3.35 m. Drilling has been completed and we are awaiting on assays from Ket 28. This area exists on the ‘edge of a sizeable deep-seated magnetic feature that is likely indicative of an intrusion –mineralization in Paleozoic Anarchist rocks.’ Geological modeling along with trenching and historical drill results lead the team to 15 drill targets with some strong results: 8.91 g/t over 6.1 m and 52.18 g/t Au over 3.35 m.
Other previous drill holes at Ket 28 yielded 11.9 g/t Au over 2 m along with 2.77 g/t Au over 11 m and 1.02 g/t Au over 13.5 m.
"I’m pleased to announce that our 2020 drill program was completed on time and on-budget with 15 drill-holes from the Ket 28 property. Samples are now being prepared for laboratory assay analysis, with results expected by year-end. We are eagerly awaiting the results from the expanded program and look forward to incorporating this data into our geological model and developing our initial resource estimate of gold mineralization at Ket 28. "
Robocop Property, BC
This property has a lot of history and is close to Fernie and Cranbrook on the BC side of the US border. This is copper, cobalt and silver. Significant historic cobalt-copper-silver (Co-Cu-Ag) in soil anomalies have been identified on the Robocop Property. In 2018, Grizzly conducted and completed a two-week surface exploration program in advance of a follow-up airborne geophysical survey.
- Miller Creek showings yielded up to 1.41% Cu, 0.62% Cu and 0.015% Co from three separate grab samples.
- Phillips Creek South returned up to 0.09% Cu and 0.01% Co in limited rock grab sampling from an area with no history of anomalous Cu-Co mineralization.
- Sampling the main Robocop showings confirmed previous anomalous results with grab samples returning up to 1.46% Cu and 0.036% Co in two separate samples in the area of the historic trenching and drilling located in the Fort Steele Mining District. Existing logging roads throughout the property 5 km from the Highway 93 and power lines.
- Region has a 100-year mining history.
- Trench samples 1.63% Cu, 1,010 ppm Co and 1.93 % Cu, 579 ppm Co over 6 m.
- Previous historical drilling has yielded 1.04 Cu, 0.148 % Co over 2.0m (2.9% CuEq).
- Geological modelling using data from 15 historic drill holes and 325 samples returning Cu, Ag, Au, Co.
- 2020 Work Program: 1. 200-line km airborne survey 2. soil sampling program 3. 1,000 m diamond drill program
The company has amassed a wealth of expertise and equally as important is its credibility with well known and respected Brian Testo as President, CEO and Director, Ian Lambert former CEO of Trade Winds Ventures, bought by Detour Gold, and Michael Dufresne, who is a partner at Apex Geoscience. The importance of the above not only captures the experience of the team, but the actions of the team over the years is what speaks to its credibility. The company has run a tight, clean operation during extremely difficult times and has done right by shareholders. This sounds obvious to many people that are new to junior investing, but make no mistake, this is only indicative of solid management.
Capital Structure
Grizzly has spent just over $8M to date and over 25% owned by management. This certainly qualifies the ‘skin in the game’ commitment we like to see in companies. The fact that the company has just over 86.5 million shares out (fully diluted) illustrates how management streamlined operational costs, staying lean over hard years. The investors have never seen a rollback! This company has kept its commitment to its investor base and are sitting awaiting results within weeks. This is the team you want to see win and there are strong indications that they are on to some positive developments.
On a final note, it is always important to address potential issues with First Nations, and Grizzly Discoveries says that they have full cooperation and partnership with bands in the area, that they are an active partner with First Nations. This is a company to keep an eye on. We will be awaiting results and will keep you informed.
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Securities Disclosure: I, Andrew O’Donnell, have been paid for this article.
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