|By Marketwired .||
|February 13, 2014 09:30 AM EST||
EDMONTON, ALBERTA -- (Marketwired) -- 02/13/14 -- Grizzly Discoveries Inc. (TSX VENTURE:GZD)(OTCQX:GZDIF)(FRANKFURT:G6H) ("Grizzly" or the "Company") is pleased to provide an update in advance of the Prospectors & Developers Association of Canada convention at the Metro Toronto Convention Centre on March 2-5, 2014, at which Grizzly will be exhibiting.
Grizzly Discoveries' extensive and diverse portfolio of properties, including the potash-prospective Alberta Potash Project in Eastern Alberta, the diamondiferous-kimberlite hosting Alberta Diamond Project in North-central Alberta and the historically productive Greenwood Property in Southeastern British Columbia, cover an aggregate of over 700,000 hectares ("ha"), and is mostly underexplored. The Company is conducting a strategic review of all of the geological information that it has available on its properties, including historical information preceding their acquisition by Grizzly, as well as the Company's results from its exploration programs, to ensure that future exploration programs yield favourable results with near-term resource definition and development.
In particular, the Company has been focussed on target selection at its approximately 90,000 ha Greenwood Property, with a goal of discovering deposits with near-term resource-definition potential. In addition to the selection of the Ket 28 as a high priority high grade gold target, as previously announced (see the Company's news releases dated October 10, 2013 and November 26, 2013), the Company has re-evaluated results from exploration conducted in 2009 through 2011 at the Greenwood Property's Dayton prospect. The Company has concluded, based upon a reinterpretation of the geology and a determination of copper-equivalency(i) ("CuEq") values by incorporating coincident gold and silver values with the copper intersected in previous drill holes, that the Dayton prospect is a high priority copper-gold porphyry target. Drilling conducted at the Dayton Prospect in 2010 and 2011 indicated values greater than 0.12% CuEq over core lengths between 50 to 135 metres ("m"), with a number of shorter intervals in several of the drill holes yielding up to and greater than 0.40% CuEq.
Brian Testo, Grizzly's President and Chief Executive Officer, commented that "this re-examination of the Company's previous results has shed a new light on the Dayton prospect, and we at Grizzly are very optimistic that future drilling there will continue to yield favourable results and may lead to a significant discovery."
GREENWOOD PROPERTY STRATEGIC REVIEW
In light of copper porphyry discoveries that have been made in northwest British Columbia within the last six months, Grizzly is conducting a strategic review of its mineral claim holdings in the Greenwood Property in south-central British Columbia. Based upon the recent NI 43-101 technical report completed for the Company by APEX Geoscience Ltd. dated September 1, 2013 and filed on SEDAR, portions of Grizzly's Greenwood Property are considered highly prospective for the presence of copper porphyries similar to those which have recently been discovered in northwestern and central British Columbia.
The strategic review has identified a number of prospects that have geological characteristics and, in some cases, mineralization that is indicative of copper porphyry style mineralization. The Dayton prospect, on which exploration was conducted by the Company between 2009 and 2011, included drilling which yielded strong evidence of copper-gold porphyry style mineralization.
A total of 1,021 soil samples indicated a strong northwest-trending copper-gold anomaly approximately 450 m by 200 m with more than 100 of the samples containing from 100 parts per million ("ppm") copper ("Cu") up to 1,225 ppm Cu, along with 40 samples containing greater than 50 parts per billion gold ("Au"). Surface mapping in the area identified a number of occurrences of pyrite and chalcopyrite, locally associated with high copper and gold grades, in association with strongly hornfelsed volcanics, sediments and alkaline intrusions, along with local skarn. An Induced Polarization ("IP") survey identified a number of high quality positive IP chargeability anomalies, one of which is associated with the soil anomaly.
A drilling program conducted in 2010 intersected up to 0.03% Cu and 0.18 g/t Au, or 0.12% CuEq, over 96 m of core length, including a higher grade zone of 0.35% CuEq over 8.1 m. In subsequent drilling conducted in 2011, a second eastern IP anomaly with a weak associated copper-gold soil anomaly was drill tested and yielded 0.19% CuEq over 117 m of core length, with a high grade zone of 0.39% CuEq (0.15% Cu, 0.43 g/t Au and 0.81 g/t Ag) over 51 m near the top of the hole. These drill holes intersected the copper-gold-silver mineralization in large alteration and breccia zones with grades that compare favourably to the recently reported grades for the newly discovered copper porphyries in northwest British Columbia.
GREENWOOD PROPERTY - GEOLOGICAL BACKGROUND
The Company's Greenwood Property is situated within Quesnelia Terrane, host to the vast majority of British Columbia's major known copper porphyry deposits from Princeton and Kamloops up to Dease Lake. Airborne surveys conducted by the Company in 2008 and 2009 over three quarters of the Greenwood Property identified numerous moderate to small intrusive bodies which are spatially associated with vast areas of extensive hornfels, some of which is associated with past producing copper-silver-gold skarn mineralization, as in the historic Phoenix and Motherlode areas within the Greenwood Property. The Greenwood area is underlain by numerous deep seated structures with at least three known large scale grabens with intrusions and extensive alteration spatially associated the graben structures. The grabens are young and have preserved Tertiary sediments and volcanics along with underlying older Paleozoic to Triassic rocks within the boundaries of the grabens, likely preserving any potential intrusion-related copper mineralization.
The Company has previously identified seven distinct areas of polymetallic mineralization within its 90,000 ha Greenwood Property. In addition to undertaking further planned drilling on the Ket 28 target and Dayton prospect, the Company will be seeking option and joint venture opportunities for development of the other prospect areas. The Company is also concurrently marketing internationally its Alberta Potash Project, seeking a joint venture partner to fund the next stage of drilling on its northern block, where historic drilling yielded 18.6%K2O (or over 28% KCl potash).
Any proposed exploration programs to be conducted on the Company's properties are subject to financing.
(i) Copper equivalency ("CuEq") values disclosed in this news release have been calculated utilizing values of $1,250 per ounce for gold, $20 per ounce for silver and $3.25 per pound for copper.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 48.7 million shares issued, focused on developing significant Potash assets in Alberta and its precious metals properties in southeastern British Columbia. The Company holds, or has an interest in: metallic and industrial mineral permits for potash totaling more than 900,000 acres along the Alberta-Saskatchewan border; over 235,000 acres of precious-base metal properties in British Columbia; and more than 600,000 acres in properties which host diamondiferous kimberlites in the Buffalo Head Hills and Birch Mountains of Alberta.
The content of this news release and the Company's technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
On behalf of the Board, Grizzly Discoveries Inc.
Brian Testo, President, (780) 693-2242
For further information, please visit our website at www.grizzlydiscoveries.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Mar. 30, 2017 08:00 PM EDT Reads: 4,440
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Mar. 30, 2017 07:15 PM EDT Reads: 4,643
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let’s say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
Mar. 30, 2017 07:15 PM EDT Reads: 332
SYS-CON Events announced today that StorageCraft Technology Corp, a global leader in backup and disaster, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. The StorageCraft family of companies, founded in 2003, provides award-winning backup, disaster recovery, system migration and data protection solutions for servers, desktops and laptops in addition to powerful data analytics.
Mar. 30, 2017 06:45 PM EDT Reads: 374
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
Mar. 30, 2017 05:30 PM EDT Reads: 4,061
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
Mar. 30, 2017 05:30 PM EDT Reads: 1,271
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Mar. 30, 2017 04:30 PM EDT Reads: 3,549
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Mar. 30, 2017 04:15 PM EDT Reads: 4,443
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Mar. 30, 2017 04:15 PM EDT Reads: 3,449
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Mar. 30, 2017 03:45 PM EDT Reads: 6,790
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Mar. 30, 2017 03:30 PM EDT Reads: 2,459
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
Mar. 30, 2017 03:15 PM EDT Reads: 1,126
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
Mar. 30, 2017 02:45 PM EDT Reads: 2,535
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
Mar. 30, 2017 02:45 PM EDT Reads: 1,093
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
Mar. 30, 2017 02:45 PM EDT Reads: 4,061