Grizzly Identifies Significant Chargeability Anomalies at the Motherlode - Greyhound Critical Minerals Target Area Greenwood, BC
Grizzly Discoveries (GZDIF) reported preliminary Phase 2 induced polarization (IP) results identifying at least five discreet chargeability anomalies at the Motherlode – Greyhound critical minerals target near Greenwood, BC.
Rhea-AI Summary
Grizzly Discoveries (GZDIF) reported preliminary Phase 2 induced polarization (IP) results identifying at least five discreet chargeability anomalies at the Motherlode – Greyhound critical minerals target near Greenwood, BC.
Four anomalies show core readings from 30 to 52 mV/V, with some zones reaching about 1 km by 500 m and remaining open for expansion. Most anomalies are associated with moderate to strong copper and gold in soil and rock, including pit samples grading >1% up to 5% Cu and >1 g/t up to 20 g/t Au, plus a new sulphide showing returning 5.12 g/t Au, 66.7 g/t Ag and 0.53% Cu. Permitting is underway to drill these targets in a 2026 fall program alongside Sappho and Midway areas. Ongoing fieldwork includes trenching, sampling and further geophysical surveys. In July 2026, 1,183,335 warrants were exercised for proceeds of $59,167, bringing total common shares outstanding to 234,021,369.
Positive
- Five chargeability anomalies outlined at Motherlode–Greyhound with cores of 30–52 mV/V
- Several anomalies reach about 1 km by 500 m and remain open for expansion
- Pit sampling returned up to 5% Cu and 20 g/t Au in rocks
- New sulphide showing sampled at 5.12 g/t Au, 66.7 g/t Ag and 0.53% Cu
- Historical Motherlode Mine output of 76,975,111 lb Cu, 173,319 oz Au and 688,203 oz Ag
- Warrant exercises added $59,167 in cash with limited share issuance of 1,183,335
Negative
- Warrant exercises increased the share count to 234,021,369, creating incremental dilution for shareholders
AI-generated analysis. How Rhea-AI works. Not financial advice.
Edmonton, Alberta--(Newsfile Corp. - September 2, 2026) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that preliminary results for a Phase 2 Induced Polarization (IP) program conducted in April and May 2026 to follow up excellent prior results from both recent and historical surface sampling along with historical drilling results at the Motherlode Critical Minerals Target (Figure 1).
Highlights
- Phase 2 Motherlode IP results identifies at least five (5) Discreet Chargeability Anomalies with four (4) of the anomalies yielding numerous readings in the core of each ranging from 30 up to 52 millivolts per volt (mV/V). The results have outlined several discreet and significant chargeability anomalies in the vicinity of the Greyhound Pit, the Sunset Pit and the Motherlode Pit. (Figures 2 and 3).
- A couple of the Chargeability anomalies are on the order of 1 km by 500 m in current size and are open for further expansion (Figures 2 and 3).
- Most of the chargeability anomalies have associated moderate to strong copper (Cu) and gold (Au) in soils and in rocks (Figure 2). Each of the pit areas have yielded numerous samples anomalous in Cu (>
1% up to5% ) and Au (>1 g/t up to 20 g/t) with strong skarn mineralization. - Host rocks in the area are mapped as late Paleozoic to Early Triassic metasedimentary rocks including carbonates and calcareous shales. A number of dykes, stocks and large intrusions are mapped in the area and likely range from Jurassic to Cretaceous to Eocene in age.
- The Geological Setting is the East Fault Contact of the Toroda Graben with numerous pyroxenite-monzonite-diorite (older - Jurassic) and younger quartz-feldspar porphyry (QFP)-diorite (Tertiary) intrusions into the sedimentary package and the overlying younger intermediate-mafic volcanics.
- The East and West Faults of the Toroda Graben likely played a role in controlling the Au-Ag mineralization for the Buckhorn Skarn and Mine to the southwest and the Cu-Au-Ag mineralization for the Motherlode/Greyhound skarns in the Greenwood area (Figure 1).
- Permitting of drill locations to test the new anomalies is underway.
A total of eight north-south lines spaced 200 m apart and totaling 12.9 line km of Induced Polarization (IP) were conducted by Peter E. Walcott and Associates in late April through May, 2026 (Figure 2). The results have outlined several discreet and significant chargeability anomalies in the vicinity of the Greyhound Pit, the Sunset Pit and the Motherlode Pit. It is interpreted that the strong chargeability anomalies likely represent disseminated sulphides and potentially represent intrusion related skarn and/or porphyry targets (Figures 2 and 3).
The Company is currently in the process of permitting additional drillhole pads to complete drill testing of a number of the chargeability targets during a fall drilling program at the Motherlode Critical Minerals Target area along with potentially the Sappho Critical Minerals Target area and the Midway Precious Metals - Critical Minerals Target area. Further IP work, geological mapping and surface sampling centered on several of the targets is planned prior to the commencement of drilling.
- A new sulphide showing was discovered during early 2026 field work, with a rock grab sample from an old adit yielding 5.12 grams per tonne (g/t) Au, 66.7 g/t Ag and up to as high as
0.53% Cu (Figure 2 and see Grizzly news release dated May 25th, 2026).
Figure 1: Motherlode and Other Active Exploration Areas 2026.
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Figure 2: Motherlode IP Chargeability Anomalies Plan View - Summary Survey Results.
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Brian "Griz" Testo, President & CEO of Grizzly Discoveries, states: "IP Surveys have outlined multiple and significant chargeability anomalies and new targets across the Motherlode Project Area. The Grizzly team is excited to see what the next phase of drilling might show us - we will continue to refine these targets to the drill ready stage for drilling in the next couple of months and look forward to identifying some new discoveries."
Figure 3: Motherlode Chargeability Anomalies Orthogonal View looking NNE - Voxel Model Survey Results and Cross-Sectional Inversions.
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Ongoing Exploration
The Company is continuing with surface exploration in the Greenwood area. Crews from APEX completed trenching and rock sampling in June at the Midway Mine area, as well as some follow sampling at the Sappho Chargeability Target area. The 2026 exploration work was suspended in July and August during high fire season but has recommenced and will be ongoing through the fall and includes prospecting and rock sampling at targets in the Motherlode area, the Rock Creek area, the Midway area, the Copper Mountain area, the Overlander-Attwood area and at the Sappho area (Figure 1). Additional groundwork including ground geophysical surveys are being planned and will comprise IP, magnetics and Loupe electromagnetics (EM) for the Sappho, the Midway and Motherlode areas (Figure 1). Additional drilling is planned from October to December. Results from the 2026 work are pending and will be released as they are received.
Motherlode Area Past Exploration Highlights
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 (Figure 2). 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).
The Company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the Crown Grants (Figures 2). Of the 17 samples collected from the Motherlode Pit area, a total of 9 samples yielded from
Figure 4: Motherlode Conductivity Anomalies - Orthogonal View looking NNW - Voxel Model Survey Results and Cross-Sectional Inversions.
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Past work by the Company has focused on the Motherlode North polymetallic and skarn targets (Figures 1 to 3) which are comprised of copper-gold-silver +/- lead-zinc (Cu-Au-Ag +/- Pb-Zn) targets 500 to 750 m north and northeast of the historical Motherlode Mine.
Prior drilling by Grizzly in 2011 intersected up 17.15 g/t Au, 41.7 g/t Ag, along with,
The porphyritic intrusions are widespread and are likely Cretaceous or Eocene in age. Sulphide mineralization with anomalous geochemistry appears to be spatially associated with these intrusions. The two holes in the vicinity of the Marguerite historical shaft intersected near surface skarn with anomalous Au-Ag-Cu and deeper hornfelsed sediments and breccias that are silica-sulphide rich and with widespread anomalous Cu over 50 to 100 m in thickness (Holes 22MR01 and 02). The deeper mineralization is associated with propylitic alteration and potentially could highlight deeper copper-gold porphyry potential beneath the Motherlode area skarn system. Holes 22MR01 and 22MR02 returned upper skarn related zones of 0.442 g/t Au, 5.61 g/t Ag and
Warrants Exercised
In July 2026, the Company issued 1,183,335 common shares upon the exercise of outstanding warrants for gross proceeds of
ASSAY METHODOLOGY & QUALITY CONTROL (QA/QC)
The analytical work on the Greenwood Critical Minerals Project was performed by the ALS Global Limited in Kamloops and North Vancouver, an internationally recognized analytical service provider. All core and rock samples were prepared using ALS procedure PREP-31A (dry, crush to
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 by APEX personnel. The ALS geochemical laboratory data was provided directly to APEX and the QP and has been verified by the QP.
QUALIFIED PERSON STATEMENT
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 a non-independent 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 critical minerals 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
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: 604-315-1455
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.
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