EDMONTON, ALBERTA – August 13th, 2018 -- Grizzly Discoveries Inc. (TSX-V: GZD; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to announce that it has mobilized a field crew to the Robocop Cobalt-Copper-Silver (Co-Cu-Ag) project near Roosville in southeast British Columbia (B.C.). The field crew, provided by APEX Geoscience Ltd., will conduct a two week surface exploration program in advance of a follow-up airborne geophysical survey.
The Robocop claims comprise 9,891 acres and are located in southeast B.C., approximately 45 kilometres (km) south of Fernie and 70 km southeast of Cranbrook, immediately north of the Canada-USA border. The property is located east of Grizzly’s Greenwood Property in southeastern British Columbia.
The Board of Directors of Grizzly have also authorized the issuance of an aggregate 1,050,000 stock options to Officer, Directors, and Consultants of Grizzly with an exercise price of $0.10 and expiring on August 13, 2023 or earlier in accordance with the Company’s stock option plan.
HIGHLIGHTS FOR THE ROBOCOP PROPERTY
- The Project is comprised of 9,891 acres in 5 mineral claims that are all road accessible just off Provincial Highway 93 in southeast B.C.
- Initial surface trenching in the late 1980’s to early 1990’s yielded up to 0.06% Co and 1.93% Cu over 6 m in one trench and in a separate trench up to 0.182% Co, 2.44% Cu and 9.6 grams per tonne (g/t) Ag in sediment hosted mineralization within middle Proterozoic Purcell Group rocks.
- A total of 15 drillholes in the area between 1990 and 2008 have yielded several intersections of near surface Co-Cu-Ag mineralization with grades of up to 0.134% Co, 1.19% Cu and 33.8 g/t Ag over 1.23 m core length in hole R-1990-5 and 0.14% Co, 0.9% Cu and 2.7 g/t Ag over 3.1 m core length in hole R-1990-6 (Thomson, 1990),
- Along with an intersection of 0.18% Co, 0.28% Cu, 4.1 g/t Ag over 1 m core length in hole R-2008-02 (Pighin, 2009), and
- Sediment hosted Co-Cu-Ag mineralization is similar in style, age and host rocks to eCobalts Idaho Cobalt project and Hecla’s Revett Formation hosted mineralization near Troy Montana.
Prior work has identified areas within the Robocop property with significant historic Co-Cu-Ag in soil anomalies. Combined with historic drilling during the 1990’s (Teck Explorations Ltd.) and early 2000’s (Ruby Red Resources) that yielded significantly anomalous near surface Co-Cu-Ag mineralization, the project warrants follow up exploration including additional drilling. The Co-Cu-Ag mineralization is hosted in Sheppard Formation and is classified as mid-Proterozoic sediment hosted mineralization. Based upon recent work by the USGS (Bookstrom et al., 2016), Robocop Co-Cu-Ag mineralization is similar in style and age of host rocks to mineralization in the Blackbird Co-Cu-Au-Ag district in Idaho including eCobalt’s Idaho Cobalt Project. Grizzly believes that significant potential exists to expand the known extent of the Co-Cu-Ag mineralization on the Property and further exploration is warranted. In order to advance the project, Grizzly is planning to conduct a helicopter airborne magnetic and conductivity survey, a first for the Robocop Property, to assist in identifying future drill targets.
Grizzly has commenced land use permitting for drilling at the Robocop Property that is anticipated to be ready for a fall drilling campaign if required.
GRANT OF STOCK OPTIONS
The Board of Directors of Grizzly have also authorized the issuance of an aggregate 1,050,000 stock options to Officers, Directors, and Consultants of Grizzly with an exercise price of $0.10 and expiring on August 13, 2023 or earlier in accordance with the Company’s stock option plan. 250,000 of the options authorized for issuance will be issued to insiders of Grizzly. All of the options will vest immediately upon issuance. The options, exercise price, and the Company’s stock option plan are subject to the approval of the TSX Venture Exchange
About Grizzly Discoveries Inc.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange with 62 million shares issued, focused and its precious metals properties in southeastern British Columbia and on developing significant Potash assets in Alberta. The Company holds, or has an interest in: over 180,000 acres of precious-base metal properties in British Columbia along with metallic and industrial mineral permits for potash totaling more than 60,000 acres along the Alberta-Saskatchewan border; and more than 161,000 acres of properties which host diamondiferous kimberlites in the Buffalo Head Hills region of Alberta.
The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
On behalf of the Board,
Grizzly Discoveries Inc.
For further information, please visit our website at www.grizzlydiscoveries.com or contact Investor Relations:
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Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.