Grizzly Reports on High Grade Ag-Au-Pb-Zn Samples Obtained from the Historical Midway Mine
Grizzly Reports on High Grade Ag-Au-Pb-Zn
Samples Obtained from the Historical Midway
Mine
Edmonton, Alberta--(Newsfile Corp. - October 17, 2022) -
Grizzly Discoveries Inc. (TSXV: GZD)
(FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company")
is pleased to announce that it has
recently received analytical results for 12 selective rock grab samples from the historical Silver(Ag)-
Gold(Au)-Lead(Pb)-Zinc(Zn) Midway Mine area in the Greenwood area, about 4 km northwest of the
town of Midway in the Kettle River Valley area of BC. The Midway - Picturestone mineral claims were
recently acquired from Mr. Dan Hurd (see Company NR dated October 11
th
, 2022) and are strategically
located within the Company's Greenwood land holdings and in particular the Company's Midway lands.
Highlights
12 selective rock grab and composite rock grab samples from outcrop collected from the Midway
Mine -Picturestone area, with 4 of 7 rock grab samples from outcropping mineralization in the
Midway Mine small historical pits yielding a range of 12.05 grams per tonne (g/T) (or 0.351 ounces
per ton [oz/t]) gold (Au) up to 70.8 g/T (2.065 oz/t) Au (Table 1).
Three (3) of the 7 selective rock grab samples from the Midway Mine pits yielded from 1,360 g/T
silver (Ag) (39.7 oz/t Ag) up to 2,140 g/T Ag (62.4 oz/t Ag) Table 1.
All highly anomalous samples are from outcrop and characterized by the presence of abundant
pyrite, arsenopyrite with visible galena and sphalerite in a siliceous chalcedonic host. The
mineralization is hosted in polymetallic veins that display the presence of lead (Pb), zinc (Zn),
copper (Cu), arsenic (As) and antimony (Sb) and are likely epithermal in nature.
Host rocks are altered with disseminated sulphide and are likely altered sedimentary rocks to
altered intermediate intrusions including quartz-feldspar porphyry and diorite.
A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/T
Au (0.462 oz/t Au) and 1,530 g/T Ag (44.6 oz/t Ag), illustrating that there is potential for additional
high grade mineralization in the area.
Table 1: Selected geochemical highlights for 12 rock grab samples* collected in the Midway Mine area.
Midway Samples 2022 - Summary Geochemistry
Sample
Target
Au g/T
Au oz/t
Ag g/T
Ag oz/t
As ppm
Cu ppm
Pb ppm
Sb ppm
Zn ppm
22SLP001
Midway
Mine
0.185
0.005
8.6
0.3
740
11
146
10
395
22SLP002
Midway
Mine
12.05
0.351
2,140.0
62.4
>10,000
1470
41,400
1,870
33,300
22SLP003
Midway
Mine
0.132
0.004
9.7
0.3
66
9
121
13
127
22SLP004
Midway
Mine
0.022
0.001
3.9
0.1
51
24
41
8
1,925
22SLP005
Midway
Mine
16.1
0.470
1,460.0
42.6
>10,000
345
11,100
1,095
2,290
22SLP006
Midway
Mine
70.8
2.065
565.0
16.5
9970
202
62,500
404
1,610
22SLP007
Midway
Mine
17.55
0.512
1,360.0
39.7
>10,000
993
41,700
1,155
43,400
22SLP008
Picturestone
0.123
0.004
10.0
0.3
458
17
141
113
130
22SLP009
Picturestone
0.231
0.007
4.7
0.1
268
4
221
51
53
22SLP011
Midway
West Ridge
15.85
0.462
1,530.0
44.6
>10,000
591
10,550
932
19,900
22SLP012
Midway
West Ridge
0.461
0.013
4.4
0.1
510
4
32
55
59
22SLP013
Midway
East Ridge
0.001
0.000
- 0.5
0.0
38
3
7
14
30
*Selective rock grab samples are illustrative of the tenor of mineralization for the material collected but may or may not be characteristic of the overall
mineralization of the deposit as they are selective in nature.
Assaying was conducted at ALS Global in Vancouver with each sample analysed for gold by a standard
fire assay (Au-ICP-21), which involved the fusion of a 30 g sample aliquot and a wet chemical (ICP)
finish. "Overlimit" Au-ICP21 results (>10 g/T Au) were followed up with Au-GRA21 analysis. This involved
a 30 g fire assay fusion and gravimetric finish. Additionally, each sample was submitted for multi-
element geochemical analysis by the ME-MS61 technique, which is an ICP-MS analysis following a
near-total, four-acid, digestion of a 0.25 g sample aliquot. Initial silver and base metal (Cu, Pb and Zn)
"overlimit" ICP-MS results (>100 g/T Ag and >1% for base metals) were analysed by a follow-up, "ore
grade" ICP technique (OG62), which also involved ICP analysis following a four-acid digestion on a 0.4 g
sample aliquot. Any samples with silver values by OG62 >1,500 g/T were re-analysed by 30 g fire assay
with a gravimetric finish (Ag-GRA21). ALS Minerals has developed and implemented strategically
designed processes and a global quality management system at each of its locations that meets all
requirements of International Standards ISO/IEC 17025:2017 and ISO 9001:2015.
The Midway Mine and the Picturestone (aka Picture Rock) Quarry area have seen intermittent
exploration and mining since the late 1800's through to as recent as 2012. In the case of the historical
Midway Mine, limited underground and open pit development has occurred. The Midway Mine and the
Picturestone Quarry are situated within the "Midway Window", a structural zone within the Toroda
Graben exposing Late Paleozoic to Jurassic sediments, volcanics and intrusions, including the Knob Hill
and Brooklyn formations, centered on an old thrust fault in a similar setting to the Golden Crown and
Lexington Mine area near Greenwood, BC as displayed in Figure 1. The presence of serpentinite and
listwanite in a thrust fault setting along with what is likely Jurassic aged quartz-feldspar porphyry and
diorite has been noted.
The Company's Midway Lands have been a focus of exploration since acquiring lands in the area. The
current status of historical and modern exploration by the Company is illustrated in Figure 1, with most of
the recent work focused on lands to the west and southwest of the historical Midway Mine.
Figure 1: Midway Geology, Rock and Soil Geochemistry.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/140822_4975526434cf9a5d_003full.jpg
Prior owners and operators describe significant epithermal mineralization in the form vertical
polymetallic sulphide veins enriched in pyrite, arsenopyrite, galena, sphalerite and stibnite, quartz veins
and significant alteration at the Midway Mine and Picturestone Quarry. The Midway Mine is spatially
associated with a northeast trending gold (Au), silver (Ag), lead (Pb), zinc (Zn) and arsenic (As) soil
geochemical anomaly that is approximately 300 m in length and 100 m in width in the area of the Midway
Mine
1
. Historical trench sampling yielded 2.8 grams per tonne (g/t) Au and 218 g/t Ag over a 4.5 m
interval in chip/channel sampling at the Midway Mine
1
. Limited drilling with some significant intercepts
was carried out in the 1980's to 1990 at the Midway and Picturestone prospects.
Minnova Inc. conducted a 7 hole core drilling program for a total of 1,170 m 1990 in the Midway Mine
area
2
. No drilling has been conducted since. A total of 274 m of core was sampled and two holes tested
the actual historical Midway Mine. Hole 90-1 drilled to a depth of 84.45 m intersected 23 m of altered
quartz-feldspar porphyry with pyrite and some pyrite-galena veins. The best result obtained in sampling
was 1.14 g/T Au (0.033 oz/t Au) and 208 g/T Ag (6.1 oz/t Ag) over 1.5 m core length. A 10.5 m interval of
strongly altered quartz-feldspar porphyry returned an average grade of 0.33 g/T Au (0.001 oz/t Au) and
52.7 g/T Ag (1.54 oz/t Ag). A number of the drill holes completed intersected serpentinite, listwanite,
diorite and then bottomed in Triassic Brooklyn Formation sharpstone conglomerate with pyrite and
skarnified limestone clasts. A number of the other holes intersected similar geology, alteration and gold -
silver values as hole 90-1. Additional trenching and drilling were recommended.
The most recent work in 2012 resulted in a recommendation of ground geophysical surveys, additional
soil sampling and drilling. The work was never completed. The Company has commenced follow-up
ground magnetic and electromagnetic surveys at the Midway Mine area and will conduct follow up rock
sampling. Permitting in order to conduct trenching and drilling in the spring or early summer of 2023 has
commenced.
The Company has recently completed Phase 1 drilling on the Dayton and Motherlode North prospects
and will provide an update on the drilling in the near future.
Brian Testo, President and CEO of Grizzly Discoveries stated "
We are excited at the high grade gold
and silver values that have been obtained from the historical Midway Mine and potential for additional
mineralization. We have had our eyes on the historical mine for a number of years! We view the
acquisition of the Midway and Picturestone prospects as a good quality strategic acquisition to our
current significant land holdings in the Greenwood District.
"
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.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture
Exchange focused on developing its approximately 66,000 ha (approximately 165,000 acres) of
precious and base metals properties in southeastern British Columbia.
Grizzly is run by 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:
Nancy Massicote
Corporate Development
Tel: 604-507-3377
Email:
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.
1 Assessment Report - Soil and Rock Sampling For the Rainbow Property AR32359, Von Einsiedel, 2011.
2 Assessment Report - Trenching and Diamond Drilling Report on the Murray Group BC AR21126, Caron, 1990.
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