Grizzly Creek Resources (VSE) has purchased an option on a 5-claim property adjacent to the New Buffonta gold deposit in Garrison Twp., Ont. The deposit, currently being mined by partners Perrex Resources (ASE) and GSR Mining, a subsidiary of Deak Resources (TSE), contains a preliminary reserve of 452,000 tons grading 0.15 oz. gold per ton.
Also adjacent to the Grizzly Creek property is the Falconbridge Ltd.-Garrison Creek (Coats) joint venture with preliminary reserves of 1.1 million tons averaging 0.095 oz. gold and the Noranda-Destiny Windjammer gold property.
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