Friday 21st October 2016

Resource Clips

Grizzly President Brian Testo on BC gold assay of 0.43 g/t gold and 0.15% copper over 51m

Resource Clips - essential news on junior gold mining and junior silver miningGrizzly Discoveries Inc TSXV:GZD announced the discovery of the Dayton gold-copper zone, a bulk-tonnage style low-grade gold-copper zone, at its Greenwood gold project in BC. Results from the first hole of the 2011 drill program revealed 0.25 g/t gold and 0.07% copper over 117 metres (including 0.43 g/t gold and 0.15% copper over 51 metres).

President Brian ‘Griz’ Testo tells, “In the last 100 years there’s been about $4 to $5 billion worth of copper, gold and silver taken from the 90-mile area between the US and Canada where Greenwood is located. All the claims at Greenwood were fractured until about 2006. When gold was at $280 to $300 an ounce, some prospectors got this big package together that totalled 235,000 acres. We did a deal with them in 2007, and checked [the claims] out and they were real, so we did a bigger deal with them in 2008. We got all of the ground—all 235,000 contiguous acres—in one package.

“We flew an HLEM [horizontal loop electromagnetic survey] and ended up with 500 targets in 2008. So we drilled a few of them in 2009 and hit some [mineralization]—nothing screaming, but it showed there was gold in the area. We did another little program in 2010 and hit some more and better stuff.

We’re zeroing in on the big one—Brian ‘Griz’ Testo

“When I raised $7 million in April, I gave my geologist $1.2 million, and I said, ‘Get some good drill targets for us for October, when we start drilling.’ We’ve had up to 23 guys on the ground doing ground sampling, MAG, the works, and we came up with these targets. The first target we drilled, the one released on Wednesday, hit 0.43 g/t gold, and 0.15% copper—which aren’t screaming numbers, but it was over 51 metres. That rock is worth $60 a tonne. We stepped out 450 metres into Hole 2—the second hole we drilled—and the results will be coming out in the next week or two. If it continues or gets better, we’ll drill six holes in that area. Last week, we moved the drill 20 miles to the east—still on our property—and we’re drilling in the Motherlode targets right now. We’re going to drill six holes there, then we’re going to move it across the valley about 10 miles and do some holes at the Overlander target. If we have time before Christmas, we’ll do some on the Ket 28 target—west of us 40 miles. So good things are happening there.”

Asked what his overall assessment of the Greenwood project is, Testo replies, “Awesome! This isn’t the sort of project where you’re drilling a one-hole wonder. We’ve have the property for almost four years now. We’ve had geological programs on it; we’ve taken thousands of soil samples and ground samples. I’ve walked every inch of that property. We’re zeroing in on the big one. It’s elephant country where we are.”

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