Grizzly Provides Update on the Acquisition of the Motherlode Crown Grants, Greenwood Precious - Battery Metals Project, BC
Grizzly Discoveries Inc. (GZDIF) has provided an update on its acquisition of the Motherlode Crown Grants from First Majestic Silver Corp. The acquisition includes 13 Crown Grants covering over 300 acres with subsurface mineral rights near Greenwood, BC. The property includes historical mines that produced significant amounts of copper, gold, and silver between 1900-1920 and 1957-1962.
Recent exploration highlights include the collection of over 350 rock samples, with impressive results from the Motherlode Pit area showing up to 4.88% copper, 6.65 g/t gold, and 51.3 g/t silver. The Sunset Pit area samples yielded up to 3.66% copper, 4.88 g/t gold, and 55 g/t silver.
A historical mineral resource estimate from 1967 indicates 2.8 million tonnes at 0.8% copper and 1.06 g/t gold. The company has planned an aggressive 2025 drilling campaign consisting of about 5,000m in 20-25 core holes.
Grizzly Discoveries Inc. (GZDIF) ha fornito un aggiornamento sulla sua acquisizione dei diritti minerari Motherlode da First Majestic Silver Corp. L'acquisizione comprende 13 diritti minerari che coprono oltre 300 acri con diritti minerari sotterranei vicino a Greenwood, BC. La proprietà include miniere storiche che hanno prodotto quantità significative di rame, oro e argento tra il 1900-1920 e il 1957-1962.
Recenti esplorazioni evidenziano la raccolta di oltre 350 campioni di roccia, con risultati impressionanti dall'area della Motherlode Pit che mostrano fino al 4,88% di rame, 6,65 g/t di oro e 51,3 g/t di argento. I campioni dell'area del Sunset Pit hanno rivelato fino al 3,66% di rame, 4,88 g/t di oro e 55 g/t di argento.
Una stima storica delle risorse minerarie del 1967 indica 2,8 milioni di tonnellate a 0,8% di rame e 1,06 g/t di oro. L'azienda ha pianificato una campagna di perforazione aggressiva per il 2025, composta da circa 5.000 metri in 20-25 fori di sondaggio.
Grizzly Discoveries Inc. (GZDIF) ha proporcionado una actualización sobre su adquisición de las concesiones Motherlode de First Majestic Silver Corp. La adquisición incluye 13 concesiones que cubren más de 300 acres con derechos minerales subterráneos cerca de Greenwood, BC. La propiedad incluye minas históricas que produjeron cantidades significativas de cobre, oro y plata entre 1900-1920 y 1957-1962.
Los recientes hallazgos de exploración incluyen la recolección de más de 350 muestras de roca, con resultados impresionantes del área de Motherlode Pit que muestran hasta el 4.88% de cobre, 6.65 g/t de oro y 51.3 g/t de plata. Las muestras del área de Sunset Pit arrojaron hasta el 3.66% de cobre, 4.88 g/t de oro y 55 g/t de plata.
Una estimación histórica de recursos minerales de 1967 indica 2.8 millones de toneladas a 0.8% de cobre y 1.06 g/t de oro. La empresa ha planeado una agresiva campaña de perforación para 2025 que consiste en aproximadamente 5,000 m en 20-25 perforaciones.
Grizzly Discoveries Inc. (GZDIF)는 First Majestic Silver Corp.로부터 Motherlode Crown Grants의 인수에 대한 업데이트를 제공했습니다. 이 인수에는 300 에이커 이상을 포함하는 13개의 Crown Grants가 포함되며, BC의 Greenwood 근처에 있는 지하 광물 권리가 있습니다. 이 부동산은 1900-1920년과 1957-1962년 사이에 구리, 금, 그리고 은을 생산한 역사적인 광산을 포함합니다.
최근 탐사에서 350개 이상의 암석 샘플을 채취했으며, Motherlode Pit 지역에서 4.88% 구리, 6.65 g/t 금, 51.3 g/t 은의 인상적인 결과를 보여주었습니다. Sunset Pit 지역 샘플은 최대 3.66% 구리, 4.88 g/t 금, 55 g/t 은을 Yield했습니다.
1967년의 역사적 광물 자원 추정치는 2.8백만 톤에서 0.8% 구리와 1.06 g/t 금을 나타냅니다. 이 회사는 2025년을 위한 공격적인 드릴링 캠페인을 계획하고 있으며, 약 5,000m의 20-25개의 코어 홀로 구성됩니다.
Grizzly Discoveries Inc. (GZDIF) a fourni une mise à jour concernant son acquisition des concessions Crown Motherlode auprès de First Majestic Silver Corp. L'acquisition comprend 13 concessions Crown couvrant plus de 300 acres avec des droits miniers souterrains près de Greenwood, en Colombie-Britannique. La propriété comprend des mines historiques qui ont produit des quantités significatives de cuivre, d'or et d'argent entre 1900-1920 et 1957-1962.
Les récents points forts de l'exploration incluent la collecte de plus de 350 échantillons de roche, avec des résultats impressionnants de la zone de la Motherlode Pit montrant jusqu'à 4,88% de cuivre, 6,65 g/t d'or et 51,3 g/t d'argent. Les échantillons de la zone du Sunset Pit ont donné jusqu'à 3,66% de cuivre, 4,88 g/t d'or et 55 g/t d'argent.
Une estimation historique des ressources minérales de 1967 indique 2,8 millions de tonnes avec 0,8% de cuivre et 1,06 g/t d'or. L'entreprise a prévu une campagne de forage agressive pour 2025, composée d'environ 5 000 m dans 20 à 25 trous de forage.
Grizzly Discoveries Inc. (GZDIF) hat ein Update zu seiner Übernahme der Motherlode Crown Grants von First Majestic Silver Corp. bereitgestellt. Die Übernahme umfasst 13 Crown Grants, die über 300 Acres mit Bodenschätzen in der Nähe von Greenwood, BC abdecken. Das Grundstück umfasst historische Minen, die zwischen 1900-1920 und 1957-1962 bedeutende Mengen an Kupfer, Gold und Silber produzierten.
Zu den aktuellen Erkundungsergebnissen gehört die Sammlung von über 350 Gesteinsproben, mit beeindruckenden Ergebnissen aus dem Bereich der Motherlode Pit, die bis zu 4,88% Kupfer, 6,65 g/t Gold und 51,3 g/t Silber zeigen. Die Proben aus dem Bereich der Sunset Pit erbrachten bis zu 3,66% Kupfer, 4,88 g/t Gold und 55 g/t Silber.
Eine historische Schätzung der mineralischen Ressourcen von 1967 zeigt 2,8 Millionen Tonnen mit 0,8% Kupfer und 1,06 g/t Gold. Das Unternehmen hat eine aggressive Bohrkampagne für 2025 geplant, die aus etwa 5.000 m in 20-25 Kernlöchern besteht.
- High-grade sample results with up to 4.88% copper, 6.65 g/t gold, and 51.3 g/t silver
- Historical production of 76.9M pounds of copper, 173,319 oz gold, and 688,203 oz silver
- Active land use permit already in place for drilling
- Planned 5,000m drilling program for 2025
- Option to purchase 1% NSR royalty for $250,000
- Historical resource estimates need to be verified to current standards
- Share dilution through issuance of 250,000 shares to First Majestic
- Additional costs for Crown Grants reinstatement and transfer
Edmonton, Alberta--(Newsfile Corp. - January 15, 2025) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to provide an update on the acquisition of the Motherlode Crown Grants from First Majestic Silver Corp. (First Majestic) and some highlights of recent exploration completed by the Company on the Motherlode Crown Grants, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900's produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 to 5).
The Motherlode Crown Grants near the town of Greenwood, South-Central British Columbia (BC) include 13 Crown Grants for over 300 acres (121.4 hectares) that include subsurface mineral rights. The Crown Grants take precedence over mineral claims issued pursuant to the Mineral Tenures Act (BC). The Crown Grants cover a number of historical mines, including the Motherlode Mine that produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962. The Motherlode skarn mineralization is developed in the Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood (Figure 1).
Highlights
- First Majestic has completed the re-instatement of the Motherlode Crown Grants and is in the process of transferring the Crown Grants with the subsurface mineral rights to the Company.
- The Company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the newly acquired Crown Grants (Figures 2 & 3).
- Of the 17 samples collected from the Motherlode Pit area, a total of 9 samples yielded from
1.16% Cu up to4.88% Cu, 12 samples yielded from 1.075 grams per tonne (g/t) Au up to 6.65 g/t Au and 8 samples yielded from 12.6 g/t Ag up to 51.3 g/t Ag (Figures 2 & 3; Table 1). - Of the 10 samples collected from the Sunset Pit area, a total of 8 samples yielded from
1.44% Cu up to3.66% Cu, 9 samples yielded from 1.7 g/t Au up to 4.88 g/t Au and 7 samples yielded from 14.5 g/t Ag up to 55 g/t Ag (Figures 2 & 3; Table 1). - Various other targets including the Greyhound Pit, the Butte City Target, the Margerite Target and the Great Hopes Target have yielded a number of samples with >
1% Cu and >10 g/t Au and warrant additional exploration (Figures 2 & 3; Table 1). - Various historical Mineral Resource Estimates (MREs) produced both prior to the last period of mining 1957 - 1962 (Fredericks, 19611) and after the last period of mining as part of a couple of historical economic studies have been recovered from the publicly available BC Property Files.
- A historical MRE constructed in 1967 by Allen Geological Engineering Ltd.2 after the last period of mining on behalf of two companies, Aabro Mining and Oils Ltd. and Cumberland Mining Ltd., is described as Drill Proven (Assured), Indicated and Inferred and totals 2.8 million tonnes with a grade of
0.8% Cu and 1.06 g/t Au yielding a calculated grade of1.6% Cu equivalent (CuEq) utilizing90% recovery for both metals and$4 /lb for Cu and$2,000 /oz for Au.
Figure 1: Land position and targets of interest for future exploration, Greenwood Project.
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- This historical MRE was calculated prior to the implementation of the standards set forth in the current National Instrument (NI) 43-101 and current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards for MREs. Resource definitions, terminology and reporting standards have changed significantly since these series of reports. The estimates in these reports are all considered historical in nature, and a Qualified Person (QP) has not done sufficient work to evaluate these resources as current resources. For these resources to be updated as current resources, a QP would need to examine and analyze the existing drill core, validate and verify the existing data supporting the historical estimate, and perform a confirmatory site visit. Therefore, the company and the QP for this news release are treating this estimate as historical in nature, and are highlighting the estimate for the sole purpose of illustrating the potential extent of mineralization that may be present.
- In addition to the historical MREs, drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources (Veris Gold a wholly owned sub of First Majestic) intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the Motherlode Pit in the vicinity of the historical underground workings (Figures 4 and 5).
- Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 g/t Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 5).
- The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 ounces per ton [opt]) along with significant Cu over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly (Figure 4).
- The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorite along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
- The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
Figure 2: Motherlode Crown Grants, Historical and Modern Gold Sampling Greenwood Project.
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Figure 3: Motherlode Crown Grants, Historical and Modern Copper Sampling Greenwood Project.
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Figure 4: Motherlode Crown Grants, Historical Drilling and AeroTEM Survey Greenwood Project.
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Figure 5: Motherlode Historical Drillhole ML96-8 Greenwood Project.
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Brian Testo, President and CEO of Grizzly Discoveries, stated, "We are excited with the acquisition of the historical Motherlode Crown Grants and the potential battery metal and precious metal targets that they provide. We look forward to an aggressive 2025 drilling campaign at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District."
The Company currently has an active land use permit for drilling at the Motherlode area and has designed a confirmation and exploration core drilling program for the Motherlode and Sunset pit areas along with additional drilling at the Greyhound and Great Hopes targets based upon a compilation of historical information. It consists of about 5,000 m in 20 to 25 core holes and is focused on targets beneath and along strike from the various pit areas.
Table 1. Motherlode Area Rock Sample Assay Highlights.
| Sample | Showing/ Area | Easting (N83Z11) | Northing (N83Z11) | Au (ppm) | Ag (ppm) | Cu (%) | Pb (%) | Zn (%) |
| 09BMP104 | Top | 374618 | 5442036 | 2.830 | 32.0 | 0.429 | 0.172 | 0.523 |
| 09BMP111 | Marguerite | 375768 | 5441431 | 1.165 | 51.3 | 1.160 | - | - |
| 09DAP242 | Sunset | 374961 | 5440954 | 4.880 | 36.4 | 1.635 | - | - |
| 09DAP243 | Sunset | 374963 | 5440953 | 2.340 | 55.0 | 1.430 | - | - |
| 09DAP244 | Sunset | 374965 | 5440946 | 2.550 | 20.2 | 1.030 | - | - |
| 09DAP245 | Sunset | 374965 | 5440940 | 3.070 | 37.1 | 2.560 | - | - |
| 09DAP246 | Sunset | 374966 | 5440950 | 1.700 | 9.7 | 2.490 | - | - |
| 09RHP063 | Motherlode | 374624 | 5441380 | 6.650 | 21.7 | 3.610 | - | - |
| 09RHP065 | Sunset | 374950 | 5440939 | 3.250 | 7.1 | 0.546 | - | - |
| 09RHP066 | Sunset | 374968 | 5440960 | 2.970 | 17.5 | 3.680 | - | - |
| 09RHP067 | Sunset | 374978 | 5440965 | 3.080 | 14.5 | 3.030 | - | - |
| 09RHP068 | Sunset | 374978 | 5440965 | 4.110 | 33.2 | 1.440 | - | - |
| 10CBP023 | Great Hopes | 375782 | 5440926 | 11.300 | 3.9 | 0.057 | - | - |
| 10CGP059 | Greyhound (Butte City) | 375428 | 5440600 | 13.850 | 13.0 | 0.259 | - | - |
| 10CGP248 | Greyhound (West) | 375034 | 5440346 | 5.950 | 28.3 | 0.069 | - | - |
| 10CGP274 | Motherlode (West) | 374086 | 5441589 | 0.246 | 6.1 | - | 0.249 | 2.630 |
| 10DCP065 | Motherlode North | 374972 | 5442329 | 0.122 | 5.5 | 0.060 | - | 2.170 |
| 10DCP103 | Motherlode | 374840 | 5441399 | 2.870 | 17.6 | 2.070 | - | - |
| 10JHP018 | Marguerite | 375780 | 5441418 | 1.055 | 39.1 | 1.480 | - | - |
| 10JHP126 | Great Hopes | 375795 | 5440946 | 51.000 | 5.2 | - | - | - |
| 10JHP130 | Gold Bug | 377091 | 5441148 | 16.600 | 2110.0 | 0.216 | 1.400 | 0.298 |
| 10WBP259 | Greyhound (Butte City) | 375420 | 5440613 | 30.900 | 60.0 | 0.259 | 0.971 | 3.410 |
Summary of the Motherlode Crown Grant Purchase Terms
- The Company will cover the costs to reinstate and transfer the Crown Grants to the Company.
- Grizzly will issue 250,000 common shares of the Company to First Majestic upon successful transfer of the Crown Grants to the Company. These shares will be subject to a restricted trading period ending four months and one day from the date of issuance
- The Company will grant a
1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic that with an option for the Company to purchase the NSR for$250,000 at any time.
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 72,700 ha (approximately 180,000 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
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com
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.
Caution concerning forward-looking information
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may," "will," "should," "anticipate," "plan," "expect," "believe," "estimate," "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-Looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly's actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
1Report on Motherlode and Sunset Mine by Frances Fredericks, 1951.
2The Motherlode and Greyhound Properties of Cumberland Mining Co. Ltd. N.P.L. Greenwood, BC by Allen Geological Engineering Ltd. September 27th, 1967.
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FAQ
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