Alberta diamond hunter has 3.5 million acres under exploration and an advanced staged kimberlite project.Grizzly Diamonds Ltd. (GZD:TSXV) is an aggressive Alberta-based exploration company focused on exploring for diamonds in Alberta and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Grizzly has four diamond properties totalling more than 3.5 million acres making it one of the largest landholders in Alberta. The properties contain prospective geophysical targets and associated diamond indicator minerals. Grizzly's diamond properties are located in the Buffalo Head Hills, Birch Mountains and the Calling Lake areas of northern Alberta Norhern Alberta is a region located in the Canadian province of Alberta. Its primary industry is oil and gas, with large heavy oil reserves being exploited at the Athabasca Oil Sands and Wabasca Area in the east of the region. . Grizzly also holds four precious-base metal properties in British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography totalling over 23,000 acres. Grizzly has already completed more than $1.5 million in exploration in order to advance its three main diamond properties this year. The recent acquisition by Grizzly of the Legend kimberlite kimberlite: see diamond. kimberlite or blue ground Dark, heavy, often fragmented igneous rock that may contain diamonds in the rock matrix. provides Grizzly with an advanced stage kimberlite project with large tonnage. The Legend kimberlite is scheduled for drilling during late summer 2006. Grizzly's 338,000 hectare (835,000 acre) Buffalo Head Hills diamond properties are located about 330 km northwest of Edmonton. They are situated adjacent to Ashton Mining of Canada Inc.'s main Buffalo Head Hills property where 38 kimberlite pipes have been discovered, of which 26 are diamondiferous. The regional setting for Grizzly's Buffalo Head Hills properties is considered favourable for the presence of diamondiferous kimberlites. For example, in 2001 Ashton Mining of Canada reported that a 22.8 tonne mini-bulk sample collected from the K252 Kimberlite (located approximately 21 km north of Grizzly's property) yielded a grade of 55 carats per hundred tonnes (cpht). The mini-bulk sample results also indicate that the deeper breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. phase of the pipe yielded a grade of 85.4 cpht. If these grades and stone quality persist through larger bulk sampling programs the K252 Kimberlite could be the first in a series of economic kimberlite pipes in Alberta. At least three of the Buffalo Head Hills kimberlite pipes lie within 5 km of the northern boundary of Grizzly's Smoky The Bear diamond property. In addition, diamond indicator minerals have been recovered from very limited surface sampling on all three of Grizzly's Buffalo Head Hills diamond properties. Both the proximity to known kimberlites and sample results reemphasize the diamond potential of the Grizzly land package in the Buffalo Head Hills. [ILLUSTRATION OMITTED] In the Calling Lake Region of north-central Alberta, Grizzly Diamonds recently announced that it has entered into an option agreement with Stornoway Diamond Corporation whereby Stornoway has the right to earn a 51 per cent interest in Grizzly's 820,000 acre Call of the Wild Property. This property is host to pyrope py·rope n. A deep red garnet, Mg3Al2Si3O12, used as a gem. [Middle English pirope, from Old French, from Latin beach sands dominated by favourable G10 pyrope mineral chemistry. Pyrope garnets Garnets may have the following meanings
Further north at Grizzly's Legend Diamond Property, nine kimberlites are known, two of which are diamond bearing, some beneath thin cover. The Legend Kimberlite is a 500 to 800 m diameter multiphase Mul´ti`phase a. 1. (Elec.) Having many phases; Adj. 1. multiphase - of an electrical system that uses or generates two or more alternating voltages of the same frequency but differing in phase angle kimberlite which may have similarities to the Fort a la Corne kimberlites in Saskatchewan. The Legend Kimberlite is beneath 12.9 m of overburden o·ver·bur·den tr.v. o·ver·bur·dened, o·ver·bur·den·ing, o·ver·bur·dens 1. To burden with too much weight; overload. 2. To subject to an excessive burden or strain; overtax. n. 1. and has been tested by a single drillhole that yielded 4 microdiamonds from a 406.5 kg sample. A second untested target, the Legend Camp Target, is a topographic high underlain un·der·lain v. Past participle of underlie. by a 250 m diameter 4,000 nT magnetic low. During late spring to summer 2006, Grizzly plans to complete a cross hair drilling pattern across the Legend kimberlite in order to acquire a mini-bulk sample for diamonds and to adequately test the different phases of the kimberlite. During this drilling program the Legend Camp Target will also be drilled. Grizzly's four precious-metal projects are all located in British Columbia. At the road accessible Peak Property, northeast of Smithers Smithers is a surname, and may refer to: People People with the surname Smithers
For full details on all of Grizzly's projects plus corporate information, please visit www.grizzlydiamonds.com. GRIZZLY DIAMONDS LTD. * TSX-V:GZD * WWW.GRIZZLYDIAMONDS.COM |
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