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| |  Area: 1,235 acres (500 hectares) Location The Property is located 65 km northeast of the town of Smithers, BC, about 3 km west of the Peak Property, which was recently acquired by Grizzly and is easily accessed by road and trails from Fort Babine. Geological Setting The French Property hosts a granodiorite to quartz monzonite porphyry complex of Late Cretaceous (Bulkley) age with associated porphyry style copper-molybdenum-gold-silver mineralization. The rocks are highly altered with widespread disseminated to fracture controlled pyrite mineralization. Chalcopyrite, molydenite, sphalerite, tetrahedrite and galena are present as local disseminations to spatially associated with quartz veinlets and stockworks primarily in the porphyry. The French Property is located near the southern edge of the Bowser Basin within Stikine Terrane and along the northern flank of the Skeena Arch. In the area of the intrusive complex, Early to Middle Jurassic Hazelton Group volcanic rocks are overlapped by marine to non-marine sediments and volcanics of the Bowser Lake and Skeena Groups, which in turn are unconformably overlain by intermediate to felsic volcanics and sediments of Cretaceous Kasalka Group. The French intrusive complex has been dated at 71 Ma and is classified as Late Cretaceous (Bulkley) in age. The French porphyry is fault bounded and exists within a complex area of block faulting. Based upon the presence of near flat lying hornfelsed volcanic and sedimentary units, blocks of volcanics within the porphyry (most likely roof pendants) and an extensive pyritic zone, the present day erosional surface is at or near the top of the French porphyry system, which is only now being unroofed. As a result, Grizzly believes that the French property represents a unique exploration opportunity, prospective for the discovery of an intact high grade hypogene copper-molybdenum-gold-silver porphyry system associated with a Bulkley aged intrusive complex. Historical Exploration The French Property porphyry was discovered during the mid 1960's. Between 1966 and 1971 prospecting, trenching, trench sampling, geochemical and geophysical surveys were conducted culminating in a 5 hole drilling program. Little work has been conducted since. The French porphyry is highly altered with abundant boxwork and vuggy gossans. Surface rock sampling has yielded values of up to 0.22% copper and 1.1 ounces per ton (oz/t) silver across 33.5 m of weathered and leached porphyry. Locally, rock samples from the trenches assay up to 1.09% copper, 0.5% zinc, 3.5% lead, 2,000 parts per million (ppm) arsenic, 54.2 grams per tonne (g/t) silver and 0.75 g/t gold. Drill core assays were up to 0.44% copper across 3.05 m and 0.026% molybdenum across 3.05 m, however the target that was drilled was a weak chargeability anomaly associated with an outer contact between hornfelsed volcanics and the porphyry. Current Exploration Exploration during 2005 will consist of a comprehensive compilation of all prior exploration in the area along with extensive surface prospecting, rock and soil sampling and geological mapping. This Phase 1 exploration will eventually lead to either ground or airborne geophysics followed by drilling during either fall 2005 or winter 2005-2006. | | | | | | |||||||||||||||||||||||||
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