Grizzly Discoveries samples 9.06% copper at Sappho, British Columbia

Grizzly Discoveries Inc. [GZD-TSXV; GZDIF-OTCQB; G6H-FSE] reported results for a number of rock grab samples collected from this summer’s rock sampling program at the 100%-owned Sappho project near Greenwood, southeastern British Columbia.

Analytical results have been received for a total of 141 rock grab samples. Additional results for a number of other targets areas and 15 core holes that were completed in September as the phase 1 drilling program will be provided as they become available.

Highlights: Setting is the East contact of the Toroda Graben with numerous pyroxenite-monzonite-diorite (older) and younger QFP-diorite (tertiary) intrusions into intermediate-mafic volcanics.

A total of 141 rock grab samples collected during prospecting at the Sappho target during 2022. Five new sulphide showings discovered during the fieldwork, with four of the five showings yielding rock grab samples with greater than 1% copper (Cu) up to as high as 7.25% Cu.

A total of 17 rock grab samples returning values greater than 1% Cu up to 9.06% Cu, many also with anomalous gold (Au), silver (Ag), platinum (Pt) and palladium (Pd).

A total of 11 samples have yielded greater than 500 parts per billion (ppb) Pt and Pd up to 4.64 g/t Pt and up to 2.28 g/t Pd.

Brian “Griz” Testo, president and CEO, stated: “New results are providing significant targets indicated by high-grade copper samples at surface. Anomalous geophysics are also outlining multiple new targets across the Sappho project. Grizzly will continue to define these targets to the drill-ready stage for the potential to define new discoveries. I would like to express deep gratitude to our outstanding prospecting team, Sebastian and Cache, for finding new showings at both the Sappho and the Midway mine.”

The Sappho area is being targeted for copper-gold skarn and porphyry type targets associated with a Jurassic alkalic intrusive complex and several younger diorite intrusions. A total of five new showings of copper oxide mineralization have been found during the 2022 program. Previous surface sampling and drilling by Grizzly has yielded significant anomalous copper, gold, silver along with platinum and palladium.

Numerous historical and new rock grab samples have yielded greater than 1% Cu, one g/t Au, one g/t Ag, one g/t Pt and one g/t P. Historical 2010 drilling by the company (four core holes) 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-metre core length in skarn at Sappho (in hole 10SP03), including one metre core length intersections of 3.82 g/t Au and 199 g/t Ag, and in a separate sample 1.83 g/t Pt and 2.09 g/t Pd across one metre. These results all are associated with greater than 1% Cu in those samples.

Drill hole 10SP03 targeted a magnetic anomaly and had no indications of surface mineralization. One of the new 2022 showings has been found proximal to drill hole 10SP03 and the targeted magnetic anomaly. The company has collected more than 250 soil samples from the Sappho area during 2022 and will report the results as they become available.

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, the Midway area, the Copper Mountain area, the Overlander-Attwood area and the Sappho area to date. Additional groundwork including further prospecting, sampling and ground geophysical surveys is continuing for the Copper Mountain area and Sappho areas. Ground geophysical surveys have commenced and will comprise magnetics and Loupe electromagnetics (EM), and is continuing and planned for the Sappho, the Midway, Motherlode and Copper Mountain areas.

Robocop update: Consultation is continuing with the government of British Columbia and various first nations groups in the Elkford Valley. Once permits are received for drilling at the Robocop project a drill rig will be engaged to complete the Robocop drilling. The company is currently well financed and has set funds aside to complete the program.

Between October 20 and November 2, 2022, the company issued a total of 3,040,200 common shares upon the exercise of warrants for proceeds of $240,581. The warrants exercised had expiry dates ranging from June 2, 2023, to April 22, 2024, and exercise prices ranging from 7.5 cents to eight cents per common share.

Grizzly is focused on developing its approximately 66,000-hectare (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia.