Grizzly Discoveries drills 0.062% copper over 180 metres at Greenwood, British Columbia
Grizzly Discoveries Inc. [GZD-TSXV; GSDIF-OTCQB; G6H-FSE] reported assay results for the first four core holes (1,014 m) completed at the Dayton Target area as part of the Phase 1 drill program at the 100%-owned Greenwood Project, southeastern British Columbia. A total of 3,123 metres in 15 core holes has been completed at the Greenwood Project with results for 11 holes still pending.
2022 Dayton Drilling Highlights: The company completed four core holes for 1,014 metres at the copper-gold Dayton Skarn/Porphyry Prospect following up a discovery by Grizzly in 2011 at Dayton.
The Dayton IP2 target (an induced polarization [IP] chargeability anomaly) was tested by Grizzly with a single hole in 2011 and intersected potassic altered volcanics and dioritic intrusives with a near surface intersection (11DA-009) of 0.15% copper and 0.43 g/t gold (or 0.46% CuEq) over 51 metres core length starting at a depth of 3 metres.
Comparable and thicker sulphide zones, skarn and potassic alteration have been intersected in the 2022 drilling at the Dayton IP2 target.
New intersections at Dayton include hole 22DA-016 with 0.062% Cu, 0.221 g/t Au and 1.89 g/t Ag (0.221% CuEq) over 180 metres, 22DA-017 with 0.057% Cu, 0.149 g/t Au and 1.76 g/t Ag (0.177% CuEq) over 184 metres, and 22DA-015 with 0.033% Cu, 0.155 g/t Au and 2.06 g/t Ag (0.162% CuEq) over 44.5 metres.
Intercepts are all associated with an IP chargeability anomaly (IP2) and mineralization appears to plunge and thicken to the northeast down plunge in conjunction with an apparent plunge of the IP chargeability anomaly. The IP2 anomaly is at least 600 metres in strike length and ranges from 100 to 150 metres wide and is open to the northeast and at depth.
Further drilling is planned for the Dayton IP2 chargeability anomaly. Permits are already in place to conduct further drilling.
Brian Testo, President and CEO, stated: “The early stage drill program at Dayton successfully intersected large intervals of copper, gold, and silver bearing altered and mineralized volcanic and diorite intrusive rocks; an encouraging positive step forward for a project that has seen little systematic exploration in the past. We are eager to resume drilling to expand this exciting discovery.”
The disseminated sulphide zone at the IP2 target is associated with altered diorite intrusions and later unaltered feldspar porphyry intrusions along with widespread potassic alteration halo. Grizzly is planning additional drilling to fully test the IP2 target. In addition, further geophysical surveys including time domain loop electromagnetic surveys and/or Titan24 surveys are being contemplated for the target to expand upon drill targeting.
The mineralization and alteration seen to date appear to be characteristic of a Au-Ag-Cu hydrothermal porphyry system and warrants additional exploration.
Grizzly is awaiting assay results for the Motherlode drilling for a total of 11 drillholes.
Grizzly has collected approximately 720 rock samples at a number of targets in the Greenwood Project area and is waiting for results for nearly 400 of the samples including samples collected from the Ket 28 area, Rock Creek area, the Midway area, the Copper Mountain area, the Overlander-Attwood area, along with the Imperial and Crown Point occurrences.
Grizzly is currently awaiting additional results for soil sampling, with nearly 400 samples outstanding.
The Midway, Imperial and Crow Point areas are being targeted for copper-gold skarn and epithermal gold. The Overlander area is being targeted for mesothermal to epithermal gold-silver.
The Copper Mountain and Sappho areas are being targeted for copper-gold-PGEs skarn and porphyry type targets associated with an alkalic intrusion and several diorite intrusions south of Greenwood near the US 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, silver along with platinum and palladium.
Numerous rock grab samples have yielded greater than 1 per cent copper, 1 g/t gold, 1 g/t platinum and 1 g/t palladium. Historical drilling has yielded up to 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 metres in skarn at Sappho.
Once drill permits are received for the Robocop Project, a drill rig will be engaged to complete the drilling. Grizzly is waiting for drill permits for the Robocop Project near Grasmere, BC. 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.
Between November 3 and December 22, 2022, the company issued 800,000 common shares for proceeds of $52,000 on exercise of options and an additional 350,000 common shares for proceeds of $31,250 on exercise of warrants.