Grizzly Receives Work Permits to Conduct Drilling and Trenching at Four of Its Targets at The Greenwood, BC Precious and Battery Metals Project
Rhea-AI Summary
Grizzly Discoveries (OTCQB: GZDIF) has secured drilling and trenching permits from the BC Ministry of Mining for several priority exploration targets in the Greenwood area, including Midway, Sappho, Copper Mountain, and Imperial. The company has announced a $1 million private placement to fund fall exploration activities.
At the Midway Mine area, recent sampling revealed significant precious metals content, with selective rock grab samples yielding up to 70.8 g/t Au and up to 2,140 g/t Ag. Two new showings were identified in 2023, with samples containing up to 5.64 g/t Au and 4.19 g/t Au. The company has identified six new areas with anomalous gold, copper, and silver in soils.
The fall 2025 exploration program will focus on trenching, rock and soil sampling, and drilling at the Midway Target area, with the scope dependent on the current financing round.
Positive
- Receipt of drilling and trenching permits for multiple priority exploration targets
- High-grade gold samples up to 70.8 g/t Au and silver up to 2,140 g/t Ag at Midway Mine
- Discovery of two new mineral showings in 2023 with significant gold content
- Identification of 6 new areas with anomalous gold, copper, and silver in soils
- Secured $1 million private placement for fall exploration activities
Negative
- Exploration results are from selective grab samples which may not be representative of overall mineralization
- Extent of drilling program depends on success of current financing
- Early stage exploration project with no defined mineral resources yet
News Market Reaction
On the day this news was published, GZDIF gained 9.03%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Edmonton, Alberta--(Newsfile Corp. - September 29, 2025) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) ("Grizzly" or the "Company") is pleased to announce that is has recently received drilling and trenching permits for a number of its priority exploration targets in the Greenwood area including Midway, Sappho, Copper Mountain (Prince of Wales, Coronation and Mabel Jenny) and Imperial from the BC Ministry of Mining and Critical Minerals. Grizzly has recently announced a private placement offering for gross proceeds of up to
The main focus of the private placement will be to conduct drilling and trenching at the Midway Exploration Target, targeting the historical Midway Mine. See the Midway highlights below.
Midway Mine Area
- At Midway, selective rock grab and composite rock grab samples collected during 2022 from outcrop at the Midway Mine-Picturestone area, yielded a range of 12.05 grams per tonne (g/t) or 0.351 ounces per ton (opt) Au up to 70.8 g/t (2.065 opt) Au (See Company news release dated October17, 2022).
- Three (3) of the 7 selective rock grab samples from the Midway Mine yielded from 1,360 g/t Ag (39.7 opt) up to 2,140 g/t Ag (62.4 opt) (see the Company news release dated October 17, 2022).
- Two new showings identified in 2023 near the historical Midway Mine including up to 5.64 g/t Au (0.165 opt) from a showing 400 m to the north of Midway and up to 4.19 g/t Au (0.122 opt) from a grab sample collected about 375 m to the west of the Midway Mine (Figure 2).
- At least 6 new areas with anomalous gold (> 100 ppb), copper (>200 ppm) and silver in soils have been identified at Midway in work conducted between 2022 and 2024 (Figure 2).
- The Midway area is being targeted for copper-gold skarn and epithermal gold-silver.
- 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 Pb, Zn, Cu, arsenic (As) and antimony (Sb) and are likely epithermal in nature (Figure 3).
- A selective rock grab sample from outcrop 200 m west of the main Midway Mine yielded 15.85 g/t Au (0.462 opt) and 1,530 g/t Ag (44.6 opt), illustrating that there is potential for additional high-grade mineralization in the area (Figure 2).
Brian Testo, President and CEO of Grizzly Discoveries stated, "We are excited and are looking forward to pursuing a number of high grade gold – silver – copper – lead -zinc showings and historical mines with drilling in the fall of 2025 along with additional exploration for significant battery metal prospects in our current 165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!"
Figure 1: Land position and targets of interest for future exploration, Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/268182_9222c7baa49e6a91_002full.jpg
Figure 2. Midway geology and showings with gold in soils and rocks.
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https://images.newsfilecorp.com/files/4488/268182_9222c7baa49e6a91_003full.jpg
Figure 3. Example mineralization present at the Midway Mine.
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https://images.newsfilecorp.com/files/4488/268182_fig3grizzly.jpg
Plans for Fall 2025 Exploration at Greenwood:
Trenching, rock and soil sampling along with drilling at the Midway Target area is being planned for fall 2025. The amount of drilling will depend upon the current financing that has been announced.
Rock sampling was conducted earlier in the summer. The results for the Beaverdell sampling will be announced as they become available. Additional results should be forthcoming over the next coming months as work progresses and will be presented in additional news releases.
Quality Assurance and Control
Rock and soil samples are being analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo.. A secure chain of custody is maintained in transporting and storing of all samples.
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 Consultant and 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268182
FAQ
What permits did Grizzly Discoveries (GZDIF) receive for its Greenwood project?
What were the highest gold and silver grades found at the Midway Mine area?
How much is Grizzly's private placement offering for the Greenwood project?
What is the size of Grizzly's land holdings in the Greenwood District?
What type of mineralization is being targeted at the Midway area?
