Edmonton, Alberta – October 17, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Firm”) is happy to announce that it has not too long ago obtained analytical outcomes for 12 selective rock seize samples from the historic Silver(Ag)-Gold(Au)-Lead(Pb)-Zinc(Zn) Halfway Mine space within the Greenwood space, about 4 km northwest of the city of Halfway within the Kettle River Valley space of BC. The Halfway – Picturestone mineral claims had been not too long ago acquired from Mr. Dan Hurd (see Firm NR dated October eleventh, 2022) and are strategically situated throughout the Firm’s Greenwood land holdings and particularly the Firm’s Halfway lands.
- 12 selective rock seize and composite rock seize samples from outcrop collected from the Halfway Mine -Picturestone space, with 4 of seven rock seize samples from outcropping mineralization within the Halfway Mine small historic pits yielding a variety of 12.05 grams per tonne (g/T) (or 0.351 ounces per ton [oz/t]) gold (Au) as much as 70.8 g/T (2.065 oz/t) Au (Desk 1).
- Three (3) of the 7 selective rock seize samples from the Halfway Mine pits yielded from 1,360 g/T silver (Ag) (39.7 oz/t Ag) as much as 2,140 g/T Ag (62.4 oz/t Ag) Desk 1.
- All extremely anomalous samples are from outcrop and characterised by the presence of ample pyrite, arsenopyrite with seen galena and sphalerite in a siliceous chalcedonic host. The mineralization is hosted in polymetallic veins that show the presence of lead (Pb), zinc (Zn), copper (Cu), arsenic (As) and antimony (Sb) and are doubtless epithermal in nature.
- Host rocks are altered with disseminated sulphide and are doubtless altered sedimentary rocks to altered intermediate intrusions together with quartz-feldspar porphyry and diorite.
- A selective rock seize pattern from outcrop 200 m west of the principle Halfway Mine yielded 15.85 g/T Au (0.462 oz/t Au) and 1,530 g/T Ag (44.6 oz/t Ag), illustrating that there’s potential for extra excessive grade mineralization within the space.
Assaying was performed at ALS International in Vancouver with every pattern analysed for gold by a regular fireplace assay (Au-ICP-21), which concerned the fusion of a 30 g pattern aliquot and a moist chemical (ICP) end. “Overlimit” Au-ICP21 outcomes (>10 g/T Au) had been adopted up with Au-GRA21 evaluation. This concerned a 30 g fireplace assay fusion and gravimetric end. Moreover, every pattern was submitted for multi-element geochemical evaluation by the ME-MS61 approach, which is an ICP-MS evaluation following a near-total, four-acid, digestion of a 0.25 g pattern aliquot. Preliminary silver and base steel (Cu, Pb and Zn) “overlimit” ICP-MS outcomes (>100 g/T Ag and >1% for base metals) had been analysed by a follow-up, “ore grade” ICP approach (OG62), which additionally concerned ICP evaluation following a four-acid digestion on a 0.4 g pattern aliquot. Any samples with silver values by OG62 >1,500 g/T had been re-analysed by 30 g fireplace assay with a gravimetric end (Ag-GRA21). ALS Minerals has developed and applied strategically designed processes and a world high quality administration system at every of its places that meets all necessities of Worldwide Requirements ISO/IEC 17025:2017 and ISO 9001:2015.
The Halfway Mine and the Picturestone (aka Image Rock) Quarry space have seen intermittent exploration and mining for the reason that late 1800’s by to as latest as 2012. Within the case of the historic Halfway Mine, restricted underground and open pit improvement has occurred. The Halfway Mine and the Picturestone Quarry are located throughout the “Halfway Window”, a structural zone throughout the Toroda Graben exposing Late Paleozoic to Jurassic sediments, volcanics and intrusions, together with the Knob Hill and Brooklyn formations, centered on an outdated thrust fault in an analogous setting to the Golden Crown and Lexington Mine space close to Greenwood, BC as displayed in Determine 1. The presence of serpentinite and listwanite in a thrust fault setting together with what is probably going Jurassic aged quartz-feldspar porphyry and diorite has been famous.
The Firm’s Halfway Lands have been a spotlight of exploration since buying lands within the space. The present standing of historic and trendy exploration by the Firm is illustrated in Determine 1, with many of the latest work targeted on lands to the west and southwest of the historic Halfway Mine.
Prior house owners and operators describe vital epithermal mineralization within the type vertical polymetallic sulphide veins enriched in pyrite, arsenopyrite, galena, sphalerite and stibnite, quartz veins and vital alteration on the Halfway Mine and Picturestone Quarry. The Halfway Mine is spatially related to a northeast trending gold (Au), silver (Ag), lead (Pb), zinc (Zn) and arsenic (As) soil geochemical anomaly that’s roughly 300 m in size and 100 m in width within the space of the Halfway Mine1. Historic trench sampling yielded 2.8 grams per tonne (g/t) Au and 218 g/t Ag over a 4.5 m interval in chip/channel sampling on the Halfway Mine1. Restricted drilling with some vital intercepts was carried out within the 1980’s to 1990 on the Halfway and Picturestone prospects.
Minnova Inc. performed a 7 gap core drilling program for a complete of 1,170 m 1990 within the Halfway Mine space2. No drilling has been performed since. A complete of 274 m of core was sampled and two holes examined the precise historic Halfway Mine. Gap 90-1 drilled to a depth of 84.45 m intersected 23 m of altered quartz-feldspar porphyry with pyrite and a few pyrite-galena veins. The very best end result obtained in sampling was 1.14 g/T Au (0.033 oz/t Au) and 208 g/T Ag (6.1 oz/t Ag) over 1.5 m core size. A ten.5 m interval of strongly altered quartz-feldspar porphyry returned a median grade of 0.33 g/T Au (0.001 oz/t Au) and 52.7 g/T Ag (1.54 oz/t Ag). Various the drill holes accomplished intersected serpentinite, listwanite, diorite after which bottomed in Triassic Brooklyn Formation sharpstone conglomerate with pyrite and skarnified limestone clasts. Various the opposite holes intersected comparable geology, alteration and gold – silver values as gap 90-1. Extra trenching and drilling had been advisable.
The latest work in 2012 resulted in a suggestion of floor geophysical surveys, extra soil sampling and drilling. The work was by no means accomplished. The Firm has commenced follow-up floor magnetic and electromagnetic surveys on the Halfway Mine space and can conduct comply with up rock sampling. Allowing with a view to conduct trenching and drilling within the spring or early summer time of 2023 has commenced.
The Firm has not too long ago accomplished Section 1 drilling on the Dayton and Motherlode North prospects and can present an replace on the drilling within the close to future.
Brian Testo, President and CEO of Grizzly Discoveries said “We’re excited on the excessive grade gold and silver values which have been obtained from the historic Halfway Mine and potential for extra mineralization. Now we have had our eyes on the historic mine for various years! We view the acquisition of the Halfway and Picturestone prospects as a superb high quality strategic acquisition to our present vital land holdings within the Greenwood District.”
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 Initiatives.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration firm with its major itemizing on the TSX Enterprise Alternate targeted on creating 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 workforce, who’ve a monitor document of advancing exploration tasks from early exploration stage by to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
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E-mail: [email protected]
Neither the TSX Enterprise Alternate nor its Regulation Providers 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.
1 Evaluation Report – Soil and Rock Sampling For the Rainbow Property AR32359, Von Einsiedel, 2011.
2 Evaluation Report – Trenching and Diamond Drilling Report on the Murray Group BC AR21126, Caron, 1990.