Grizzly Drills 4.53 G/T GOLD over 2 Metres at Its Expanded Ket 28 GOLD Target
www.grizzlydiscoveries.com
Tel: +1 780 693 2242
GRIZZLY DRILLS 4.53 G/T GOLD OVER 2 METRES AT ITS
EXPANDED KET 28 GOLD TARGET
EDMONTON, ALBERTA – December 21, 2020 -- Grizzly Discoveries Inc. (TSX-V: GZD; OTCQB: GZDIF; Frankfurt:
G6H) ("Grizzly" or the "Company") is pleased to report the remaining assay results that has expanded
mineralization and provided potential for a bulk-tonnage mineral resource at surface that remains open for more
expansion. Results are from the last nine of fifteen holes drilled at the Ket 28 Prospect from the western portion
of its 150,000 acre – 607 km2 Greenwood Gold Project in south-central British Columbia.
Initial results have provided narrow high-grade gold intersections within broad intercepts of moderate grade
gold located near surface. The recent results have provided similar mineralized intercepts to the first six holes
released on December 2, 2020, supporting an expansive near-surface gold system that is open on-strike and at
depth and exhibits potential for an open pit bulk tonnage mineral resource.
The Ket 28 2020 drill program is now completed with all drillhole results received. The program was completed
on time, on budget and gold mineralization was present in 14 of the 15 holes completed at the prospect. The Ket
28 gold target is located in a road accessible, proven and prolific area, adjacent to the US border in south-central
British Columbia, Canada.
Gold Target Highlights:
● Results from the last nine holes inter secting broad, near surface gold mineralization. Key
intervals include 0.92 grams per tonne (g/t) gold (Au) over 14 m from 27 m including 4.53 g/t
Au over 2 m, (20KT14) and 0.48 g/t Au over 11.84 m from 20.16 m) including 3.6 g/t Au over 1
m from 20.16 m (20KT13) (Table 1).
● Results from the first six holes intersecting broad, near surface gold mineralization. Key intervals
include 1.59 g/t Au over 17.8 m from 43 m including 7.37 g/t Au over 3.08 m, (20KT02) and 0.77
g/t Au over 31 m from 54.5 m) including 1.42 g/t Au over 11.5 m from 61 m (20KT04) (Table 1).
● The Ket 28 Target remains open with multiple zones to below a 125 metre vertical depth towards
an underlying and potentially larger porphyry type feature represented by a large 1 km by 2 km
geophysical anomaly;
● All drill-holes intersected variable amounts of sericite -pyrite alteration with quartz veins and
silicification hosted in a sedimentary schist, mafic volcanic to basalt package of rocks;
● Drilling has expanded the volume and extent of gold mineralization at surface and to depth, with
a strike length of greater than 500 m, a width of about 100 m and multiple near flat lying zones
intersected from surface up to a depth 125 m depth
● Diamond drill program consisted of 1,975m in 15 drill holes;
Brian Testo, CEO, G rizzly Discoveries Inc., commented, “Our 2020 drill results confirm the presence of broad
mineralization at Ket 28, with near surface bulk tonnage potential as well as select high grade intervals. We are
highly encouraged by these first results that show c onsistent multiple zones of mineralization across 500 m of
strike to a depth of 125 m, and look forward to additional drilling.”
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The 2020 drill program at the Ket 28 Prospect was designed to test the extent of the existing known surface gold
mineralization drilled by GZD in 2009 and 2010, adjacent to the unexplained and deep seated 1km by 2km
magnetic anomaly. Fourteen of fifteen holes have intersected broad gold mineralization over a strike length of
over 500 m. The mineralization exists in multiple near flat lying alteration zones, adjacent and at the contacts
between mafic volcanic and volcanic sedimentary units (Figure 1).
Eleven of the fifteen core holes intersected prospective near surface bulk tonnage gold mineralization, with
highlights including 1.59 g/t Au over 17.8 m core length at a depth of 43 m including 7.37 g/t Au over 3.08 m in
hole 20KT02 and 0.77 g/t Au over 31 m core length at a depth of 54.5 m in hole 20KT04, including 1.42 g/t Au
over 11.5 m core length at a depth of 61 m, 0.92 g/tAu over 14 m core length at a depth of 27 m including 4.53
g/t Au over 2 m core length (20KT14) and 0.48 g/t Au over 11.84 m core length at a depth of 20.16 m, including
3.6 g/t Au over 1 m core length (20KT13). A full summary of assay results is shown in Table 1.
Table 1: Summary Assay Results from first six holes at Ket 28
Hole Zone From To Interval** Au g/t
20KT01* Mid 2 71.0 100.5 29.5 0.23
- including 74.0 82.0 8.0 0.57
Deep 1 135.5 150.4 14.9 0.22
20KT02* Mid 1 43.0 60.8 17.8 1.59
- including 57.7 60.8 3.1 7.37
Mid 2 71.0 83.0 12.0 0.45
- including 79.4 81.6 2.2 2.02
Deep 1 104.5 114.5 10.0 0.16
20KT03* Mid 2 73.0 80.5 7.5 0.10
20KT04* Upper 1 1.0 8.9 7.9 0.63
- including 5.0 6.0 1.0 2.22
Mid 1 & 2 54.5 85.5 31.0 0.77
- including 61.0 72.5 11.5 1.42
- and 80.0 84.0 4.0 1.16
Deep 1 94.0 111.5 17.5 0.11
20KT05* Mid 1 41.0 46.5 5.5 0.24
Mid 2 78.6 83.0 4.4 0.12
Deep 1 93.5 97.0 3.5 0.25
20KT06* Upper 1 36.3 38.0 1.7 2.47
Mid 1 & 2 70.5 93.4 22.9 0.66
- including 79.5 82.5 3.0 1.38
20KT07 Upper 1 & 2 25.5 29.5 4 0.49
- and 39.5 45.5 6 0.31
Mid 1 & 2 81.5 94 12.5 0.2
- including 89.2 92.5 3.3 1.45
- and 93.5 97 3.5 0.25
Deep 1 104.5 115.37 10.87 0.09
- including 126 130 4 0.32
20KT08 Mid 1 65 65.85 0.85 1.44
Deep 1 102 104 2 0.6
20KT09 Upper 1 & 2 11 23 12 0.33
- and 34.22 49.07 14.85 0.28
Mid 1 & 2 68 74 6 0.07
- including 78 80 2 0.15
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Deep 1 89 96 7 0.32
- including 93 94.5 1.5 1.12
20KT10 Mid 1 66.6 72.5 5.9 0.37
- including 68 69.5 1.5 1.17
20KT11 Mid 1 71.5 84.69 13.19 0.17
- including 79.76 83.5 3.74 0.47
20KT12 Upper 1 3 10.4 7.4 0.4
- including 5 6 1 1.15
Mid 1 70 73 3 0.72
20KT13 Upper 1 20.16 32 11.84 0.48
- including 20.16 21.57 1 3.6
Mid 1 42.5 46.5 4 0.77
20KT14 Upper 1 27 41 14 0.92
- including 27 29 2 4.53
Mid 1 63.5 81.08 17.58 0.12
- including 72 73 1 0.54
20KT15 No samples >0.07 g/t Au
*Drillhole results previously reported.
**Intervals are core length and true width is estimated to be from 70 to 95% of core length.
Gold mineralization is spatially associated with pyrite, quartz veins, silica flooded zones, chlorite, and sericite
alteration at or near contacts between near flat lying, metamorphosed mafic volcanics and volcanic -related
sedimentary interbeds. The mineralized zones seem to be spatially associated with discreet northwest to north
oriented structures and faults near or at the edge of the prominent magnetic feature an d is suggestive of
intrusion related gold mineralization (Figure 1). Based upon geophysics, the structures appear to range from
100’s of meters to in some cases a kilometer or two in strike length.
Figure 1. 2020 Drill Hole Locations
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Historic Drilling from the mid 1990`s at the Ket 28 prospect, located within the Rock Creek claim group of the
Greenwood Project, intersected high grade gold with 52.19 g/t Au over 3.35 m core length. Drilling by Grizzly in
2009 and 2010 followed up on the historic drilling with up to 2.77 g/t Au over 11 m core length and 8.75 g/t Au
over 3 m with a higher grade zone of 11.90 g/t Au over 2 m core length. (Source: Grizzly Discoveries Inc. NI 43 -
101 Technical Report September 1, 2013, Dufresne and Banas).
Assay Methodology & QA/QC
The analytical work on the Ket 28 project was performed by the Saskatchewan Research Council (SRC) and TSL
Laboratories in Saskatoon, Saskatchewan, both internationally recognized analytical services providers. All rock
and drilling samples was prepared using procedure PRP-910 (dry, crush to 70% passing 2mm, riffle split off 250g,
pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-111 (30g fire assay with AAS
finish) and IMS-130 (0.5g, aqua regia digestion and ICP-AES/MS analysis). Any samples containing >10g/t Au will
be reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag
and/or >1% Cu, Pb, & Zn will be reanalyzed using method ICF -6 (0.2g, 4 -acid dig est and ore grade ICP -AES
analysis).
The reported work has been completed using industry standard procedures, including a quality assurance/quality
control (“QA/QC”) program consisting of the insertion of certified standards, blanks and duplicates into the
sample stream.
The technical content of this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol.,
P.Geo., a qualified person as defined by National Instrument 43-101.
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 156,000 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
Tel: 780 693 2242
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Chris Beltgens
Corporate Development
Tel: 604 347 9535
Email: [email protected]
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the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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as may be required by law.