The Company’s Alberta Diamond Project was its flagship project from inception in 2004 until 2008, when the market appetite for diamond projects weakened significantly. In the last exploration program conducted by Grizzly in 2008, the Company discovered three new diamond-bearing kimberlites, however the Company had not followed up on these discoveries to date as its focus had shifted to the Greenwood Project. Hence, the Company has impaired the carrying value of the Alberta Diamond Project.
Currently, the Company holds three mineral claim blocks totaling 70,702 ha including the Red Earth Block (26,462 ha) on which the Company discovered diamondiferous kimberlites in 2008. The Company is required to conduct exploration on these claims in 2019 in order to retain them in good standing.
Buffalo Head Hills Claims, click to enlarge.