Grizzly Signs LOI for Provost Property and Proceeds with Permitting for Drilling

Grizzly Discoveries (TSXV:GZD) announced that it has signed a letter of intent with Pacific Potash Corporation(TSXV:SKZ) to begin a multiple target exploration program on its Provost property.

The press release is quoted as saying:

Grizzly and Pacific have engaged Barlon Engineering and Taylor Land Services, both of Calgary, Alberta, to coordinate the required well licensing and site preparations for three well site locations. The LOI indicates that a minimum of one well will be drilled and that the costs will be shared equally by Grizzly and Pacific. Depending upon results, up to three wells may be drilled on the 50:50 Provost Property. Drilling on the 50% owned Provost Property is expected to commence in October. Grizzly is also making preparations for the drilling of up to 5 wells on its 100%-owned Alberta Potash Property’s North and South Blocks.

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