The Conversation (0)
Grizzly Discoveries Inc. (CVE:GZD) reports an update for its Alberta potash project.
The press release is quoted as saying:
The Company currently has a 100% interest in approximately 1.88 million acres in two major blocks, with the North block centered about the towns of Lloydminster and Provost and the South block Northeast of Medicine Hat (see Grizzly’s web site at www.grizzlydiscoveries.com for an illustrative map). In addition, Grizzly holds a 50% interest in an additional 458,000 acres in 21 metallic and industrial mineral (“MAIM”) permits centered on the town of Provost along the Alberta-Saskatchewan border. These permits, which were previously in application (see Grizzly news release dated January 20, 2011) have now been officially granted by the Government of Alberta. Grizzly’s total land holdings for potash are now confirmed at more than 2.34 million acres. The Company’s entire potash land holding is underlain by the potash-bearing Prairie Evaporite Formation. The property is road accessible and can be explored year-round.
Grizzly’s President and CEO, Brian Testo says:
“exploration work is underway on our Alberta Potash Project. We are aggressively pursuing the development of this project given our belief that agricultural products and foodstuffs could experience significant inflation over the next several years. We are excited and encouraged that the Alberta Potash Project has the potential for economic concentrations of potash in an industry-friendly province such as Alberta where the tax regime and royalty structure is favorable. This economic environment, combined with the immense size of the project and indications of historic potash mineralization at depths favorable for solution mining, bode very well for the future results of our exploration.”