EDMONTON, ALBERTA – February 25, 2020 -- Grizzly Discoveries Inc. (TSX-V: GZD; OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to present its gold, platinum-palladium and copper-cobalt-silver projects during the PDAC in Toronto from March 1 to 4, 2020. Grizzly personnel will be available at the Investors Exchange, Booth #3020, located at the Metro Toronto Convention Centre.
Grizzly holds 160,000 contiguous acres in South-central British Columbia, in the historically productive Republic-Greenwood Gold District, abutting the border with the United States. This includes the Ket 28 Prospect with high-grade gold drill results and the Sappho Property with anomalous copper-gold-platinum-palladium results. Grizzly is planning exploration programs for the spring and summer of 2020. Details on these additional programs and schedules will be the subject of follow-up news releases.
Ket 28 Gold Prospect
Grizzly has recently received drilling permits for high priority drill targets at the Ket 28 prospect, located within the Rock Creek claim group of the Greenwood Project, at which historic drilling in 1994 intersected high grade gold with 52.19 grams per tonne (g/t) gold over 3.35 meters (m) core length. Drilling by Grizzly in 2009 and 2010 at the Ket 28 prospect followed up the historic drilling in the mid 1990`s, with up to 2.77 g/t gold over 11 m core length and 8.75 g/t gold over 3 m, with a higher grade zone of 11.90 g/t gold over 2 m core length. In addition, wider intervals of lower grade mineralization were intersected with 1.02 g/t Au over 13.5 m core length and 1.19 g/t Au over 10.35 m core length. Subject to financing Grizzly is planning a 2020 drilling program to follow up these results.
Sappho Platinum-Palladium Prospect
2010 drill results from the Sappho Prospect indicated coincident gold, silver, and platinum group elements (“PGE”) with copper intersected in drill holes. Results point to a copper porphyry deposit and locally skarn model with assay results yielding a wide anomalous interval of 0.28% CuEq over 93.5 m core length including a higher grade zone of 0.38 % CuEq over 63.5 m core length. Three well documented surface copper occurrences in the northeastern portion of the alkaline intrusive complex yielded numerous high grade selective grab sample results including up to 8.28% copper, 27.1 g/t platinum (Pt), 298 g/t silver, 2.2 g/t gold and 2.57 g/t palladium (pd). All three occurrences yielded multi gram Pt and Pd values. Prior drilling has also yielded multi gram narrow core length intersections of Au, Pt and Pd associated with Cu. Fieldwork is being planned for 2020 in order to re-evaluate the prospect.
Robocop Copper Cobalt Prospect
The Company is preparing a planned helicopter magnetic and conductivity survey to isolate drill targets over the Robocop claims. The Robocop Prospect hosts significant historic cobalt-copper-silver in soil anomalies. Historic drilling during the 1990’s and early 2000’s has yielded grades of up to 0.18% cobalt, 0.28% copper, 4.1 parts per million (ppm) silver over 1 m core length and 0.134% cobalt, 1.19% copper and 33.8 ppm silver over 1.23 m core length for individual core samples. The cobalt-copper-silver mineralization is hosted in Sheppard Formation and is classified as Proterozoic sediment hosted
mineralization. Grizzly believes that significant potential exists to expand the known extent of the known mineralization on the Property and further exploration is warranted.
About Grizzly Discoveries Inc.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange (“GZD”) and the OTCQB (“GZDIF”) with 67.1 million shares issued, focused on developing its gold-silver, PGM and base metals properties in southeastern British Columbia. The Company holds or has an interest in over 160,000 acres of precious-base-platinum/palladium metal properties in British Columbia.
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:
*February 20, 2014 news, Copper equivalency (“CuEq”) values disclosed in this news release have been calculated utilizing values of $1,250 per ounce for gold, $20 per ounce for silver and $3.25 per pound for copper.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.