SOURCE: Grizzly Gold Corp

November 26, 2012 15:00 ET

Grizzly Gold Corp Announces Phase 1 Drilling Results on the LB Vixen Property in Humboldt County, Nevada

RENO, NV--(Marketwire - Nov 26, 2012) - Grizzly Gold Corp (OTCBB: GRZG) ("Grizzly") is pleased to announce Phase 1 drilling results on the LB Vixen property in Humboldt County, Nevada.

"Assay results from the four Phase 1 drill holes on the LB Vixen property are extremely encouraging," said Grizzly Gold Corp President and CEO Paul Strobel. "All four widely spaced holes encountered gold mineralization demonstrating the possible existence of a large bulk tonnage, sediment hosted gold deposit on the LB Vixen property. Further study of the results will help determine the next phase of testing and target selection for Phase 2 drilling in 2013."

LB Vixen Property Geology

The LB Vixen property is primarily covered by Quaternary alluvium. Where outcrop is exposed, much is sub-crop of weathered and decomposed Triassic/Permian intercalated and inter-bedded sediments of argillite, siltstone, shale and limestone with zones of silicified/jasperoidal outcrops forming hill tops in the eastern and southern portions of the property.

Pre- and post-mineral faulting, both observed and interpreted, is evident throughout the property. Faults appear to be relatively high angle normal faults trending northwest and north-northeast. Mineralization appears to coincide with or near fault intersections.

LB Vixen Property Phase 1 Drilling

Four RC angle holes totaling 2500 feet were widely spaced along a zone of anomalous gold mineralization intermittently exposed over a length of roughly 9000 feet and width of nearly 2000 feet. Due to the general lack of outcrop exposure, the first phase of drilling was intended to help determine the overall extent and trend of mineralization. Mineralization was encountered in all 4 holes.

Analytical highlights of the phase 1 drilling:

Hole Interval Length   Au g/t 
LBV DH 1 10ft - 40ft 30ft .02
  80ft - 100ft 20ft .02
       
LBV DH 2 20ft - 170ft 150ft .07
  100ft - 170ft 70ft .09
       
LBV DH 3* 240ft - 300ft 60ft .12
  260ft - 280ft 20ft .30
*(LBV DH 3 was abandoned at 300 feet due to high influx of artesian water)   
       
LBV DH 4 10ft - 40ft 30ft .01 
  150ft - 230ft 80ft .01

About Grizzly Gold
Grizzly Gold Corp.
is a US based exploration company focusing on advancing development on its gold projects in the Nevada area. Grizzly Gold is a publicly traded company on the OTCBB.

Disclaimer: This announcement may contain forward-looking statements which involve risks and uncertainties that include, among others, limited operating history, limited access to operating capital, factors detailed in the accuracy of geological and geophysical results including drilling and assay reports; the ability to close the acquisition of mineral exploration properties, and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. More information is included in the company's filings with the Securities and Exchange Commission, and may be accessed through the SEC's website at http://www.sec.gov.

Contact Information

  • Contact Info:

    Grizzly Gold Corp.
    Phone: 1-888-314-4535
    Email: Email Contact