Edmonton, Alberta – December 23, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Firm”) is happy to announce that the corporate has acquired assay outcomes for the primary 4 core holes (1,014 m) accomplished on the Dayton Goal space as a part of the Part 1 drill program on the Greenwood Venture (Determine 1). A complete of three,123 m in 15 core holes has been accomplished on the Greenwood Venture with outcomes for 11 holes nonetheless pending.
2022 Dayton Drilling Highlights
- The Firm accomplished 4 core holes for 1,014 m on the copper-gold Dayton Skarn/Porphyry Prospect (Figures 1 and a couple of) following up a discovery by Grizzly in 2011 at Dayton.
- The Dayton IP2 goal (an induced polarization [IP] chargeability anomaly) was examined by Grizzly with a single gap in 2011 and intersected potassic altered volcanics and dioritic intrusives with a close to floor intersection (11DA-009) of 0.15% copper (Cu) and 0.43 grams per tonne (g/t) gold (Au) (or 0.46% CuEq**) over 51 m core size beginning at a depth of three m (Desk 1).
- Comparable and thicker sulphide zones, skarn and potassic alteration have been intersected within the 2022 drilling on the Dayton IP2 goal (Determine 2).
- New intersections at Dayton embody gap 22DA-016 with 0.062% Cu, 0.221 g/t Au and 1.89 g/t Ag (0.221% CuEq**) over 180 m core size, 22DA-017 with 0.057% Cu, 0.149 g/t Au and 1.76 g/t Ag (0.177% CuEq**) over 184 m core size, and 22DA-015 with 0.033% Cu, 0.155 g/t Au and a couple of.06 g/t Ag (0.162% CuEq**) over 44.5 m core size.
- Intercepts are all related to an IP chargeability anomaly (IP2) and mineralization seems to plunge and thicken to the northeast down plunge together with an obvious plunge of the IP chargeability anomaly (Figures 3 to 7). The IP2 anomaly is at the least 600 m in strike size and ranges from 100 to 150 m broad and is open to the northeast and at depth.
- Additional drilling is deliberate for the Dayton IP2 chargeability anomaly. Permits are already in place to conduct additional drilling.
Brian Testo, President and CEO of Grizzly Discoveries said: “The early stage drill program at Dayton efficiently intersected massive intervals of copper, gold, and silver bearing altered and mineralized volcanic and diorite intrusive rocks; an encouraging optimistic step ahead for a mission that has seen little systematic exploration up to now. We’re desirous to resume drilling to broaden this thrilling discovery.”
The disseminated sulphide zone on the IP2 goal is related to altered diorite intrusions and later unaltered feldspar porphyry intrusions together with widespread potassic alteration halo. Grizzly is planning further drilling to totally check the IP2 goal. As well as, additional geophysical surveys together with time area loop electromagnetic surveys and/or Titan24 surveys are being contemplated for the goal to broaden upon drill focusing on.
The mineralization and alteration seen up to now seem like attribute of a Au-Ag-Cu hydrothermal porphyry system and warrants further exploration.
2022 Different Exploration Replace
- Grizzly is awaiting assay outcomes for the Motherlode drilling for a complete of 11 drillholes.
- Grizzly has collected roughly 720 rock samples at quite a few targets within the Greenwood Venture space and is ready for outcomes for almost 400 of the samples together with samples collected from the Ket 28 space, Rock Creek space, the Halfway space, the Copper Mountain space, the Overlander-Attwood space, together with the Imperial and Crown Level occurrences.
- Grizzly is presently awaiting further outcomes for soil sampling, with almost 400 samples excellent.
- All soil and rock samples have been despatched to ALS World in Vancouver for valuable steel and multi-element evaluation. Outcomes can be offered as they grow to be obtainable.
- The Halfway, Imperial and Crow Level areas are being focused for copper-gold skarn and epithermal gold. The Overlander space is being focused for mesothermal to epithermal gold-silver.
- The Copper Mountain and Sappho areas are being focused for copper-gold-PGEs skarn and porphyry sort targets related to an alkalic intrusion and a number of other diorite intrusions south of Greenwood close to the US border.
- A minimum of three new showings of copper oxide/sulphide mineralization have been discovered through the 2022 program on the Sappho Goal.
- Earlier floor sampling and drilling by Grizzly on the Sappho space has yielded vital anomalous copper, gold, silver together with platinum and palladium.
- Quite a few rock seize samples have yielded better than 1% copper, 1 gram per tonne (g/t) gold, 1 g/t platinum and 1 g/t palladium (Determine 3).
- Historic drilling has yielded as much as 0.31% 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 size in skarn at Sappho.
As soon as permits are acquired for drilling on the Robocop Venture a drill rig can be engaged to finish the Robocop drilling.
The Firm is presently ready for the required permits for drilling on the Robocop Venture close to Grasmere, BC. As quickly because the permits are acquired the Firm will look to finish its Part 1 drilling on the Robocop Property as quickly as potential.
The technical content material of this information launch and the Firm’s technical disclosure has been reviewed and permitted by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who’s the Certified Individual as outlined by Nationwide Instrument 43-101 Requirements of Disclosure for Mineral Initiatives.
Choices and warrants exercised
Between November 3 and December 22, 2022, the Firm issued a complete of 800,000 frequent shares for proceeds of $52,000 on the train of choices and an extra 350,000 frequent shares for proceeds of $31,250 on the train of warrants.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration firm with its main itemizing on the TSX Enterprise Change centered on growing its roughly 66,000 ha (roughly 165,000 acres) of valuable and base metals properties in southeastern British Columbia. Grizzly is run by extremely skilled junior useful resource sector administration group, who’ve a observe file of advancing exploration tasks from early exploration stage by way of to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Road NW
Edmonton, Alberta T5T 5L4
For additional info, please go to our web site at www.grizzlydiscoveries.com or contact:
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
Warning regarding forward-looking info
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Dangers and uncertainties which will trigger precise outcomes to fluctuate embody however are usually not restricted to the supply of financing; fluctuations in commodity costs; modifications to and compliance with relevant legal guidelines and rules, together with environmental legal guidelines and acquiring requisite permits; political, financial and different dangers; in addition to different dangers and uncertainties that are extra absolutely described in our annual and quarterly Administration’s Dialogue and Evaluation and in different filings made by us with Canadian securities regulatory authorities and obtainable at www.sedar.com. Grizzly disclaims any obligation to replace or revise any forward-looking info or statements besides as could also be required by regulation.
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