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 Section 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 pair 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 embrace 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 pair 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 along 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 huge 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 giant intervals of copper, gold, and silver bearing altered and mineralized volcanic and diorite intrusive rocks; an encouraging constructive step ahead for a challenge that has seen little systematic exploration prior to now. We’re desperate 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 completely 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 a lot of targets within the Greenwood Venture space and is ready for outcomes for practically 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 at the moment awaiting further outcomes for soil sampling, with practically 400 samples excellent.
- All soil and rock samples have been despatched to ALS International in Vancouver for treasured metallic and multi-element evaluation. Outcomes will likely be offered as they turn into accessible.
- 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 kind targets related to an alkalic intrusion and several other diorite intrusions south of Greenwood close to the US border.
- At the least 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 will likely be engaged to finish the Robocop drilling.
The Firm is at the moment 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 Section 1 drilling on the Robocop Property as quickly as attainable.
The technical content material of this information launch and the Firm’s technical disclosure has been reviewed and accredited 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 Tasks.
Choices and warrants exercised
Between November 3 and December 22, 2022, the Firm issued a complete of 800,000 widespread shares for proceeds of $52,000 on the train of choices and an extra 350,000 widespread 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 major itemizing on the TSX Enterprise Alternate centered on growing its roughly 66,000 ha (roughly 165,000 acres) of treasured and base metals properties in southeastern British Columbia. Grizzly is run by extremely skilled junior useful resource sector administration group, who’ve a observe document of advancing exploration initiatives from early exploration stage via 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 data, please go to our web site at www.grizzlydiscoveries.com or contact:
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Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch.
Warning regarding forward-looking data
This press launch comprises “forward-looking data” and “forward-looking statements” throughout the that means of relevant securities legal guidelines. This data and statements tackle future actions, occasions, plans, developments and projections. All statements, aside from statements of historic reality, represent forward-looking statements or forward-looking data. Such forward-looking data and statements are ceaselessly recognized by phrases akin to “might,” “will,” “ought to,” “anticipate,” “plan,” “anticipate,” “imagine,” “estimate,” “intend” and related terminology, and replicate assumptions, estimates, opinions and evaluation made by administration of Grizzly in gentle of its expertise, present situations, expectations of future developments and different components which it believes to be affordable and related. Ahead-looking data and statements contain identified and unknown dangers and uncertainties that will trigger Grizzly’s precise outcomes, efficiency and achievements to vary materially from these expressed or implied by the forward-looking data and statements and accordingly, undue reliance shouldn’t be positioned thereon.
Dangers and uncertainties that will trigger precise outcomes to fluctuate embrace however will not be restricted to the provision of financing; fluctuations in commodity costs; adjustments 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 totally described in our annual and quarterly Administration’s Dialogue and Evaluation and in different filings made by us with Canadian securities regulatory authorities and accessible at www.sedar.com. Grizzly disclaims any obligation to replace or revise any forward-looking data or statements besides as could also be required by legislation.
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