Grizzly Discoveries (TSXV:GZD) Announces Assay Results From Dayton Prospect at the Greenwood Project

Figure 1: Exploration Targets 2022. Source: Grizzly Discoveries

Grizzly Discoveries (TSXV:GZD) has reported new assay results from the first four core holes completed at the Dayton Target area during its Phase 1 drill program at the Greenwood Project in British Columbia. The company has completed 3,123m in 15 core holes and is waiting for results for 11 other holes. Further drilling is currently planned for the Dayton IP1 anomaly, and will begin shortly as permits are already secured. 

Brian Testo, President and CEO of Grizzly Discoveries, commented in a press release: “The early stage drill program at Dayton successfully intersected large intervals of copper, gold, and silver bearing altered and mineralized volcanic and diorite intrusive rocks; an encouraging positive step forward for a project that has seen little systematic exploration in the past. We are eager to resume drilling to expand this exciting discovery.”

Highlights from the drill program results are as follows:

  • The Company completed 4 core holes for 1,014 m at the copper-gold Dayton Skarn/Porphyry Prospect (Figures 1 and 2) following up a discovery by Grizzly in 2011 at Dayton.
  • The Dayton IP2 target (an induced polarization [IP] chargeability anomaly) was tested by Grizzly with a single hole in 2011 and intersected potassic altered volcanics and dioritic intrusives with a near surface intersection (11DA-009) of 0.15% copper (Cu) and 0.43 grams per tonne (g/t) gold (Au) (or 0.46% CuEq**) over 51 m core length starting at a depth of 3 m (Table 1).
  • Comparable and thicker sulphide zones, skarn and potassic alteration have been intersected in the 2022 drilling at the Dayton IP2 target (Figure 2).
  • New intersections at Dayton include hole 22DA-016 with 0.062% Cu, 0.221 g/t Au and 1.89 g/t Ag (0.221% CuEq**) over 180 m core length, 22DA-017 with 0.057% Cu, 0.149 g/t Au and 1.76 g/t Ag (0.177% CuEq**) over 184 m core length, and 22DA-015 with 0.033% Cu, 0.155 g/t Au and 2.06 g/t Ag (0.162% CuEq**) over 44.5 m core length.
  • Intercepts are all associated with an IP chargeability anomaly (IP2) and mineralization appears to plunge and thicken to the northeast down plunge in conjunction with an apparent plunge of the IP chargeability anomaly (Figures 3 to 7). The IP2 anomaly is at least 600 m in strike length and ranges from 100 to 150 m wide and is open to the northeast and at depth.
  • Further drilling is planned for the Dayton IP2 chargeability anomaly. Permits are already in place to conduct further drilling.

Table 1: Dayton Summary drillhole results 2022.

DH From m To m Width m* Au ppm Ag ppm Cu % CuEq%**
22DA-015 6 50.5 44.5 0.155 2.06 0.033 0.162
22DA-016 7 187 180 0.201 1.89 0.062 0.221
includes 7 94 87 0.222 1.41 0.081 0.251
22DA-017 9 184 175 0.149 1.76 0.057 0.177
22DA-018 20 21 1 6.05 15.30 0.026 4.445
and 98 113 15 0.261 2.65 0.023 0.231
includes 103 111 8 0.419 2.60 0.021 0.341
11DA-009*** 3 54 51 0.43 0.81 0.15 0.462

 

*Core length as true thickness is unknown at this stage of exploration. **CuEq calculated using ratios of Au:Cu 1:7,080 and Ag:Cu 1:88.5.

***Previously reported in 2011

Figure 2: Sooty sulphides in vein with alteration rim in Dayton core hole 22DA017. Source: Grizzly Discoveries
Figure 3: Near surface IP chargeability and drillholes at Dayton. Source: Grizzly Discoveries
Figure 4: 100m depth slice IP chargeability and drillholes at Dayton. Source: Grizzly Discoveries
Figure 5: 200m depth slice IP chargeability and drillholes at Dayton. Source: Grizzly Discoveries
Figure 6: Long section from northeast to southwest (looking southeast) along IP2 chargeability anomaly. Source: Grizzly Discoveries

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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