Grizzly”GZD” Makes New Gold-Silver Discovery in the Motherlode Area, Greenwood, BC

Grizzly Discoveries (TSX.V-GZD) (OTCQX-GZDIF):

  • Results have been received for 6 holes drilled in the Motherlode area, yielding a new gold discovery with the intersection of 1.56 g/t Au and 11.12 g/t Ag over 19 m core length with a high grade zone of 17.15 g/t Au and 41.7 g/t Ag across 1.5 m.
  • Wide low grade bulk tonnage style gold-silver-polymetallic mineralization has been intersected in the vicinity of the historic Greyhound open pit mine.
  • The historic Motherlode underground and open pit mine produced close to 175,000 ozs Au, 700,000 ozs Ag and 77 million pounds of Cu at an average grade of 1.27 g/t Au, 5.04 g/t Ag and 0.82% Cu from a skarn between 1900 and 1962.  The new Au-Ag zone has been discovered approximately 900 m north of the historic Motherlode open pit.
  • Results have been received for the last four holes drilled at the Dayton area in 2011 and have yielded a wide, bulk tonnage style, low grade Au-Cu zone of mineralization.  Drill hole 11DA13 yielded 0.10 g/t Au and 0.04% Cu over 315.71 m with a higher grade zone of 0.24 g/t Au and 0.1% Cu over 37 m.
  • Grizzly expects to commence further drilling at the Motherlode area as well as drilling at the Overlander and P5 targets in the Golden Crown-Phoenix area towards the end of January or early February.

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