Grizzly Diamonds Commences Drilling at Greenwood Gold Project

16th Nov 2009, 8:01 pm by Sam Kiri
Grizzly Diamonds Commences Drilling at Greenwood Gold Project

As commodity prices gain ground together with markets, companies have started to accelerate their drill programmes. More attractive ones of course are those with access to finances and good projects. With a portfolio of impressive projects in Alberta (diamonds and potash) and British Columbia (gold, silver and base metals), Canadian Venture and Frankfurt listed Grizzly Diamonds Ltd. (TSX-V: GZD) (Frankfurt: G6H)is making headway in its development endeavours.

Grizzly has signed a contract with Lone Peak Drilling to commence diamond drilling on the Greenwood Gold Project, South-Central British Columbia. The company received its Mines Act exploration permit for drilling from the British Columbia Ministry of Energy, Mines and Petroleum Resources on November 12, 2009. A diamond drill was mobilized to the property on November 13, 2009 and has subsequently commenced drilling at the Ket 28 Prospect.

The entire Greenwood project area is easily road accessible from both Greenwood and Grand Forks and is host to or surrounds a number of historic mines and mineral occurrences. These include the historic Motherlode, Sunset and Greyhound underground and open pit gold-silver-copper mines and the Copper Mountain copper-silver-gold showings. The historic Motherlode mines produced in excess of 178,000 ounces (oz) of gold (Au), 723,000 oz of silver (Ag) and 80 million pounds of copper (Cu) between 1900 and 1962. In addition, the project area is close to Merit Mining Corp.'s recently commissioned Lexington-Grenoble copper-gold mine and its Greenwood Mill. Greenwood is less than 7 km northwest of Kinross Gold Corporation's recently commissioned Buckhorn Mountain Gold Mine.

Historic gold showings at the Ket 28 and Lawless areas will be the first targets drill tested during the fall 2009 program. Additional ground geophysical surveys and geological mapping are in progress at the Ket 28, Lawless, Copper Mountain and Sappho areas. The fieldwork commenced during later October and is being conducted by APEX Geoscience Ltd. As current target identification progresses, other targets in these and other areas may also be drill tested during 2009 or early 2010 depending upon time and budget constraints.

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