GRIZZLY DIAMONDS LTD.
(TSX VENTURE:GZD) (FRANKFURT:G6H)
COMPANY OVERVIEW
Grizzly Diamonds Ltd. (Grizzly) is an exploration company engaged in the business of acquiring, exploring and developing mining properties in Canada. The Company’s main emphasis is on the exploration for diamonds in Alberta and precious metals (Silver) throughout North America.
PROPERTIES
Grizzly currently holds four diamond properties in Alberta totaling approximately 3 million acres which host prospective geophysical targets and associated diamond indicator minerals. Grizzly also holds four precious-base metal properties in British Columbia totaling over 2300 acres.
ALBERTA DIAMOND PROJECTS
Grizzly's Buffalo Head Hills properties encompass 40 mineral permits totaling 337,921 hectares (835,000 acres) and are situated adjacent to Ashton Mining of Canada Inc.'s main Buffalo Head Hills property about 330 km northwest of Edmonton. To date 38 kimberlite pipes have been discovered, of which 26 are diamondiferous, in the Buffalo Head Hills area. For the most recent results see:
http://www.agoracom.com/ir/grizzly/m...
1. Smokey The Bear Project - (90% interest) - consisting 223,929 acres (90,624 hectares). On November 21, 2005 the Company announced that it discovered two kimberlite boulders. The kimberlite was discovered within quaternary till and gravel deposits which are exposed within the property while ground crews were prospecting and sampling. The samples were submitted to Mineral Services Canada Inc., Vancouver, B.C., for petrography and mineral chemistry. Three of the Buffalo Head Hills kimberlite pipes exist within 1.5 to 5 km of the northern boundary in the Smoky the Bear property.
2. White Bear - (90% interest) consisting 284,658 acres (115,201 hectares). During April 2004, a HRAM survey was conducted over Grizzly's White Bear property. A total of 23 priority 1 and 32 priority 2 magnetic anomalies were identified in the dataset and are prospective for kimberlites and require follow-up exploration.
3. Grand Cub Aidan - (90% interest) consisting 326,405 acres (132,096 hectares). A number of samples collected from this property and immediately south by government agencies and industry have yielded significant numbers of indicator minerals including olivine, pyrope garnet, chromite and picroilmenite. The Company continues interpretation of the geophysical data from the airborne magnetic survey completed in the fall of 2005. Based on the data, targets will be selected for follow-up ground geophysical surveys, prospecting, and possible drilling during 2006-2007.
4. Legend Property(s) - The Legend and Little Legend Properties are both located in the Birch Mountains of Northeast Alberta and comprised of approximately 360,000 acres (145,000 hectares). The Legend Property is host to nine kimberlites that were discovered by Kennecott Canada Exploration Inc. and New Blue Ribbon Resources Inc. during 1998, 1999 and 2002. For most recent drill results please see:
http://www.agoracom.com/ir/grizzly/m...
Click here for Picture of a macro-diamond recovered from the Legend Kimberlite mini-bulk sample.
http://www.grizzlydiamonds.com/i/pho...
The Company holds a 100% mineral interest in the Legend property and an 85% mineral interest on the Little Legend Property. With a 2% Gross Overriding Royalty on all diamonds produced on the Properties to the vendors. The remaining undivided 15% carried interest in the Little Legend Property is owned by Grizzly Gold Inc., a corporation controlled by Brian Testo, the President and CEO of Grizzly.
On April 21, 2005 the Company signed a purchase agreement with Grizzly Gold Inc. (a company controlled by a director and shareholder) to acquire an undivided 90% interest in a number of mineral claims situated in the Buffalo Head Hills area of northern Alberta.
• The Preston Upon The Wolverine Property
• Call of the Wild Property
• Grand Cub Parker Property
• Bear Paw Property
• Kodiak Property
• Whitefish Property
BRITISH COLUMBIA PRECIOUS METAL PROJECTS
Grizzly holds four precious-base metal properties in British Columbia totaling over 23,000 acres.
1. Goat Mine Property - (100% interest) – consisting 2,208 acres (894 hectares) and is located 34 km northwest of the town of Stewart, BC and 75 km southwest of the Eskay Creek Deposit. The Property hosts the Goat Deposit, characterized by a series of polymetallic silver-gold-lead-zinc veins. A historic resource of 8,800 tonnes grading 4782.9 g/t (139.5 oz/t) silver and 10.6 g/t (0.31) gold was reported in 1979, however; the resource is not compliant with National Instrument 43-101 guidelines.
2. Peak Property - (100% interest) - consisting 10,092 acres (4,084 hectares) and is located 65 km northeast of the town of Smithers, BC and is easily road accessible from Fort Babine. The Property hosts the Ute and Rio polymetallic silver-gold-copper-lead-zinc veins systems. A historic resource of 2,630 tonnes grading 411 g/t (12.0 oz/t) silver, 2.4 g/t (0.07 oz/t) gold, 5% copper and 14% lead was reported in 1983. Note: Grizzly views the historic resource as an indication of the presence of mineralized rocks only, as the historic resource is not compliant with National Instrument 43-101 guidelines.
3. French Property - (100% interest) – consisting 1,235 acres (500 hectares), the Property is located 65 km northeast of the town of Smithers, BC, about 3 km west of the Peak Property. The Property hosts a granodiorite to quartz monzonite porphyry complex of Late Cretaceous (Bulkley) age with associated porphyry style copper-molybdenum-gold-silver mineralization.
4. Silver Bear Property - 100(% interest) – consisting 10,255 acres (4,150 hectares), the property is located is the Slocan District, Southeast B.C., approx. 5 km east of Slocan Lake and easily road accessible from Highway 6 between New Denver and Slocan.
DIRECTORS/OFFICERS
Brian Testo - President, Chief Executive Officer, Director
Pamela Strand, M.Sc., P.Geol. – Director
Douglas S. Turnbull, H.B.Sc., P. Geol. – Director
Brian Elkow - Director
Sean Mager, B.Com. –CFO
Michael Dufresne, M.Sc., P.Geol. - Consultant
