Grizzly Diamond provides results

Grizzly Diamonds Ltd. provides final analytical results for 56 microdiamonds recovered from samples collected from the recently discovered Kimberlites BE-01 and BE02, both of which were discovered by Grizzly in February on the Smoky The Bear Property.

A total of 37 separate samples of NQ2 size drill core from Kimberlite BE-01 weighed 265.35 kg from the discovery drill hole at target SM-104. A total of 2 diamonds were recovered from BE-01. A total of 8 separate samples of NQ2 size drill core from Kimberlite BE-02 weighed 56.6 kg from the discovery drill hole at target SM-008. A total of 54 diamonds were recovered from BE-02. In total, 54 diamonds greater than 0.075 mm and 26 diamonds greater than 0.106 mm were recovered from BE-02. This equates to 954 stones recovered per tonne using a minimum cutoff of 0.075 mm or 459 stones per tonne using a minimum cutoff of 0.106 mm.

Caustic fusion analysis for diamonds was completed at the Saskatchewan Research Council, Geoanalytical Laboratories accredited to the ISO/IEC 17025 standard by the Standards Council of Canada.

The management of Grizzly is highly encouraged by these initial results. These results are comparable to the results recently announced by Sanatana Diamonds Inc. for the Dharma Kimberlite in the Northwest Territories. Furthermore, the total number of diamonds recovered from Grizzly’s BE-02 Kimberlite, ranks it amongst the top ten initial microdiamond results for the Buffalo Head Hills kimberlite field.

Drillhole SMB08-02 intersected kimberlite BE-01 at a depth of 124 m and was drilled to a depth of 200 m where the hole was terminated and was still in kimberlite. Drillhole SMB08-03 intersected kimberlite BE-02 at a depth of 122 m and remained in kimberlite to a depth of 141 m where the hole came out of kimberlite and into Colorado Formation mudstone until termination of the hole at 178 m. Further ground magnetic surveys in the area of BE-02 indicate the presence of at least 3 distinct magnetic lobes that could represent kimberlite. Further exploration including a ground gravity survey and follow-up drilling during summer 2008 are being planned for kimberlite BE-02 in order to target and locate the central vent of the kimberlite.

The discovery of these two new Buffalo Head Hills kimberlites represents the first new kimberlites discovered in Alberta in five years and brings the total number of kimberlites discovered in the Buffalo Head Hills to 40 and the total number of diamondiferous kimberlites to 28.

Grizzly is also pleased to announce that a 40,000 line-km high resolution fixed-wing airborne magnetic (HRAM) survey that was commissioned in January for the Kodiak, Bearpaw, Preston Upon Wolverine and Grand Cub Parker properties all adjacent to or within the Buffalo Head Hills has been completed. This survey completes Grizzly’s airborne survey coverage over all of its Alberta land holdings, including more than 2 million acres in the Buffalo Head Hills.

Source : http://www.grizzlydiamonds.com/

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