2022-10-20 16:26 ET - News Release
Mr. Brian Testo reports
GRIZZLY COMPLETES PHASE 1 DRILL TESTING AT ITS GREENWOOD, BRITISH COLUMBIA PRECIOUS AND BATTERY METALS PROJECT
Grizzly Discoveries Inc. notes that Full Force Diamond Drilling Ltd. out of Peachland, B.C. has completed the phase 1 drill program at the Greenwood project including targets at the Dayton and Motherlode North target areas. A total of 3,123 metres in 15 core holes has been completed as the phase 1 drilling program. Logging and sampling of the core is almost complete. Results will be provided as they become available.
The company is currently waiting for the required permits for drilling at the Robocop project near Grasmere, B.C. As soon as the permits are received the company will look to complete its phase 1 drilling at the Robocop property as soon as possible.
The company is continuing with surface exploration in the Greenwood area. Crews from APEX Geoscience Ltd. commenced soil and rock sampling in June and the exploration work is continuing. Work including prospecting, rock and soil sampling has been conducted at targets in the Ket 28 area, Rock Creek area, Midway area, Copper Mountain area, Overlander-Attwood area and the Sappho area to date. Additional groundwork including further prospecting, sampling and ground geophysical surveys is continuing for the Motherlode area and Copper Mountain area. Ground geophysical surveys have commenced and will comprise magnetics and Loupe electromagnetics (EM), and is continuing and planned for the Sappho, Midway, Motherlode and Copper Mountain areas.
2022 drilling highlights:
- The company has completed four core holes for 1,014 m at the copper-gold Dayton skarn/porphyry prospect. Logging and sampling is complete and all samples have been sent to the Saskatchewan Research Council (SRC) for geochemical analysis.
- The company has completed nine core holes for 1,722 m at the polymetallic-skarn Motherlode North target area. Logging and sampling are continuing and nearly complete.
- The company has completed two core holes for 387 m at the Marguerite area to test precious base metal sulphide and skarn targets east of the Motherlode North area. Logging and sampling are continuing and nearly complete.
- The Dayton IP2 target (an induced polarization chargeability anomaly) was tested by Grizzly with a single hole in 2011, and intersected potassic-altered volcanics and intrusives with a near-surface intersection of 0.15 per cent copper (Cu) and 0.43 grams per tonne (g/t) gold (Au) (or 0.4 per cent copper equivaelent (CuEq)) over 51 m core length starting at a depth of three m. Comparable sulphide zones and skarn have been intersected in the 2022 drilling at the Dayton IP2 target.
- The Motherlode polymetallic and skarn targets comprise copper-gold-silver (Ag) plus/minus lead-zinc (Pb-Zn) in proximity to the historical Motherlode mine, which produced significant amounts of Cu, Au and Ag. Prior drilling by Grizzly intersected up 17.15 g/t Au, 41.7 g/t Ag, along with 0.56 per cent Pb and 1.51 per cent Zn over 1.5 m core length at one of the skarn targets north of the Motherlode pit.
- Skarn and sulphide mineralization have been intersected in several of the Motherlode and the Marguerite core holes.
2022 exploration highlights to date:
- Grizzly has collected a total of approximately 895 soil samples in the Rock Creek area in the vicinity of the Nick nickel-cobalt prospect, in the area of the Ket 28 gold prospect and in the Sappho area east of the town of Midway.
- Grizzly has collected approximately 500 rock samples at targets in the Ket 28 area, Rock Creek area, Midway area, Copper Mountain area, Overlander-Attwood area and Sappho area to date. All soil and rock samples have been sent to ALS Global in Vancouver for precious metal and multielement analysis. Results will be provide as they become available.
- The Midway area is being targeted for copper-gold skarn and epithermal gold. The Overlander area is being targeted for mesothermal to epithermal gold-silver.
- The Sappho area is being targeted for copper-gold-PGEs (platinum-group elements) skarn and porphyry type targets associated with an alkalic intrusion and several diorite intrusions south of Greenwood near the U.S. border.
- At least three new showings of copper oxide/sulphide mineralization have been found during the 2022 program at the Sappho target.
- Previous surface sampling and drilling by Grizzly at the Sappho area has yielded significant anomalous copper, gold and silver along with platinum and palladium.
- Numerous rock grab samples have yielded greater than 1 per cent Cu, one g/t Au, one g/t platinum (Pt) and one g/t palladium (Pd).
- Historical drilling has yielded up to 0.31 per cent Cu, 0.75 g/t Au, 0.34 g/t Pt, 0.39 g/t Pd and 6.57 g/t Ag over 6.5 m core length in skarn at Sappho.
- Grizzly has collected more than 200 soil samples and 100 rock grab samples from the Sappho area during 2022.
Robocop update
Once permits are received for drilling at the Robocop project, a drill rig will be engaged to complete the Robocop drilling.
Brian Testo, president and chief executive officer of Grizzly Discoveries, stated: "I am very pleased with the immense strides forward to date by the outstanding Apex Geoscience crew, Full Force drillers and our team, working together. This year's exploration season, along with the partnership with Dan Hurd and the acquisition of the historical Midway mine and Picturestone prospects, has been exceptional so far, and the prospecting and core logging is still ongoing."
The technical content of this news release and the company's technical disclosure has been reviewed and approved by Michael B. Dufresne, MSc, PGeol, PGeo, who is the qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
About Grizzly Discoveries Inc.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 66,000-hectare (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, which has a record of advancing exploration projects from early exploration stage through to feasibility stage.