EDMONTON, ALBERTA – Sept 15, 2021 -- Grizzly Discoveries Inc. (TSX-V: GZD; OTCQB: GZDIF; Frankfurt: G6H) ("Grizzly" or the "Company") is pleased to announce that phase 1 sampling results targeting existing anomaly areas and new high-priority conductivity anomalies in the search for Cobalt (Co), Copper (Cu) and Silver (Ag) mineralization that have been received at its Robocop Property.
The rock grab samples delivered results with up to 3.35% copper (Cu) and 196 ppm Co (Figure 1 below). The Company has isolated multiple high-priority geophysical targets that are supported by anomalous copper-cobalt geochemistry along a 7 km trend (Figures 1 & 2 below). The anomalous trend includes multiple geophysical anomalies that measure 200 to 600 m strike length. The Robocop Property is 100% owned by Grizzly and is easily road accessible in Southeast British Columbia (the “Property”), near the hamlets of Grasmere and Roosville.
Brian Testo, CEO of Grizzly commented, “It is great to find a high grade sample of battery metals associated with a new anomaly at the Robocop. The Property has significant potential for new copper-cobalt discoveries. The team is looking forward to drilling this new discovery and other promising anomalies, this year.”
Fig 1. 2021 and historical Cu in rocks & soils (bright samples are 2021 results).
The follow-up Phase 1 ground geochemical survey was designed to extend known anomalous areas and targets, and test a number of high and secondary priority geophysical anomalies identified by the 2021 VTEM survey in the vicinity of the “Discovery Area” (See Figures 1 & 2) and across the property. The Discovery Area has provided historical anomalous trench and core intersections of up to 0.134% Co, 1.19% Cu and 33.8 grams per tonne (g/t) Ag over 1.23 m. Over the course of the three-week program a total of 530 soil samples and 16 rock samples were collected from across the property (see Figure 2 below). Outcrop of the targeted favourable horizon is poor.
Fig 2. Property wide rock and Soil sample results over conductivity from 2021 (bright samples are 2021 results).
A rock grab sample of malachite-bearing arkosic sandstone float material (See Figure 3 below) on a south facing slope approximately 340 m west of the Discovery area returned 3.35% Cu and 196 ppm Co and represents a new discovery of copper and cobalt. Coincident Cu and Co in soils in the area indicates that Roo Formation sandstones, host to Cu- and Co-bearing mineralization, likely continue well west of the known trenched and drilled mineralization at the Discovery area (Figure 1). The rock grab sample was collected immediately down slope from the up-hill high priority conductive anomaly 15-3. VTEM conductive anomalies 14-3 and 16-3 in the immediate vicinity also are coincident with significantly anomalous Cu and Co in soils (Figure 1). None of these VTEM conductive anomalies have been drill tested. The historical drilling to date is comprised of 15 holes in three locations over a strike length of 1.1 km from the Discovery area to the southeast towards a tributary that flows into Phillipps Creek without testing any of the VTEM anomalies. The 2021 soil sampling program has extended the known length of anomalous Cu and Co to over 7 km of strike length up Phillipps Creek to the southeast (Figures 1 and 2).
A number of additional priority 1 and 2 VTEM anomalies to the southeast including 13-3, 58-3, 57-3, 55-3, 60-3, 45-3, 78-2 and 8-2 are spatially co-incident with Cu and Co in soil anomalies, both in historical sampling and 2021 sampling. None of these anomalies nor the anomalous soils associated with them have been drill tested. The 2021 soil sampling program has identified that the Phillipps Creek Cu and Co soil anomaly can be traced continuously from the Discovery area up Phillipps Creek for close to 7 km (Figures 1 and 2). A 2021 rock grab sample from altered arkosic sandstone retuned 1.4% Cu approximately 4.3 km east of the Discovery area up Phillipps Creek (Figures 1 and 2).
A Notice of Work land use permit application for drilling a number of the VTEM anomalies from the Discovery area up Phillipps Creek has been submitted to Front Counter BC’s Cranbrook Office with approval and anticipated drill testing sometime in fall, 2021. Funding permitting, ground geophysical TDEM or IP surveys will be used as a Phase 2 program to test and firm up targets for drilling in fall 2021. Additional soil and rock sampling may also be conducted as part of the Phase 2 work.
Fig 3. Strong malachite staining on metasiltstone-sandstone float found during the field program in June 2021.
The property is hosted within a similar geological setting to the Idaho Cobalt-Copper belt where conductivity (EM) and magnetic surveying techniques along with soil and rock geochemistry have been used previously to successfully guide drilling of prospective targets and assist in making new metal discoveries.
HIGHLIGHTS FOR THE ROBOCOP PROPERTY
- The Robocop Project is comprised of 9,053acres (3,663 ha) in five 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 06% Co and 1.93% Cu over 6 metres (m) in one trench, and in a separate trench up to 0.146% Co, 1.8% Cu and 5.3 grams per tonne (g/t) Ag over 5 m in sediment-hosted sulphide mineralization within middle Proterozoic Purcell Group rocks (Thomson, 1990).
- A total of 15 drill holes in the area between 1990 and 2008 have yielded several intersections of near surface Co-Cu-Ag mineralization with grades of up to 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 and 4.1 g/t Ag over 1 m core length in hole R-2008-02 (Pighin, 2009).
- All but one of the historical drillholes tested a single target in an area about 500 m by 350 m. The Property is approximately 10 km in length and 3.5 km in width and contains numerous untested anomalous soil +/- rock geochemical targets.
- Sediment hosted Co-Cu-Ag mineralization is similar in style, age and host rocks to mineralization at Jervois Mining Ltd.’s Idaho Cobalt project and Hecla’s Revett Formation hosted mineralization near Troy, Montana.
The Property has yielded significant historical cobalt, copper and silver results and presents an opportunity to discover battery and electrification metals as the world shifts to electric vehicles, sustainable practices and greener alternatives. The macroeconomic outlook for battery metals such as Co and Cu remains strong with the ongoing shift to electric vehicles. It is estimated that the battery sector accounts for approximately 57% of current Co demand; this is expected to grow over the next five years to 72% and will require an additional 100,000 tonnes/annum of Cobalt to meet demand.[1]
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.
[1] Cobalt’s Price Rises Highlight Shift to Battery-Driven Pricing Dynamics, Benchmark Mineral Intelligence, November 19th, 2021
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange, with 90 million shares issued, focused on developing its over 160,000 acres of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Chris Beltgens
Corporate Development
Tel: 604 347 9535
Email:
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Caution concerning forward-looking information
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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.