Grizzly Discoveries Inc. reports mineral-exploration developments for the Greenwood, British Columbia Critical Minerals and Precious Metals Project. Company news commonly covers rock and soil sampling, assay results, induced polarization geophysics, trenching and drilling across targets including Sappho, Motherlode, Midway, Imperial, Beaverdell, Keno, Old No. 7 and Myers Creek.
Updates focus on copper, gold, silver, platinum-group elements and related battery or critical-minerals targets, including skarn and porphyry-style exploration. The company also reports private placements, flow-through unit financings, finder warrants, related-party participation and use-of-proceeds disclosures tied to exploration spending, working capital and corporate overhead.
Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) has provided an update on the acquisition of the Motherlode Crown Grants from First Majestic Silver Corp. The grants, located near Greenwood, BC, include historical mines that produced copper, gold, and silver. Key highlights include:
1. First Majestic is transferring Motherlode to Grizzly after reinstating the Crown Grant owner.
2. A historical Mineral Resource Estimate from 1967 totals 2.8 million tonnes at 1.6% copper equivalent.
3. Additional copper-gold mineralization was discovered in 1996 drilling.
4. Grizzly plans an aggressive 2024 drilling campaign at Motherlode and other high-grade showings in the Greenwood District.
The acquisition terms include Grizzly providing 250,000 common shares to First Majestic and granting a 1% NSR royalty, which can be repurchased for $250,000.
Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) has appointed Phil B. Acton as an Advisor to the Board of Directors. Acton, a Certified Public Accountant from Hayward, CA, brings extensive business experience across various industries. Since 2000, he has been the General Manager of East Bay Motorsports, Inc., where he increased sales from US$8.0 million to over US$26 million. Brian Testo, President and CEO of Grizzly, expressed enthusiasm about Acton's addition to the team, citing his business acumen and strategic insight as valuable assets for positioning the company in the junior mineral exploration industry. The Board has granted Acton 1,000,000 stock options at an exercise price of $0.05 per option, expiring on September 3, 2029, subject to TSX Venture Exchange approval.
Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) has closed the initial tranche of its private placement, raising $205,730 through the issuance of 6,157,668 Units and 700,000 Flow-Through Units at $0.03 each. Each Unit includes one common share and one warrant, while Flow-Through Units consist of one common share and half a warrant. Warrants allow purchase of additional shares at $0.05, expiring in 24 months or earlier under specific conditions.
The company plans to use $184,730 for general working capital and corporate overhead, including management fees, while $21,000 is reserved for mineral property exploration. The offering remains open until August 18, 2024, with additional units available. No commissions or finder's fees were paid for this tranche.
Grizzly Discoveries has entered into a purchase agreement with First Majestic Silver Corp for the historic Motherlode Crown Grants in BC's Greenwood District. The Grants cover 300 acres and include several historical mines, with past production of copper, gold, and silver. Significant drilling results include 0.23 g/t gold over 154.23 meters and 2.5 g/t gold over 4.88 meters from 1996. The deal involves Grizzly issuing 250,000 common shares to First Majestic and granting a 1% Net Smelter Return Royalty, which can be bought out for $250,000. The company plans aggressive exploration in 2024.
Grizzly Discoveries has entered into a purchase agreement with First Majestic Silver to acquire the Motherlode Crown Grants in the Greenwood District, British Columbia. The Crown Grants include 13 historical mines, with the Motherlode Mine being notable for producing significant quantities of copper, gold, and silver in the early to mid-1900s. This acquisition is expected to bolster Grizzly’s exploration activities for precious and battery metals in its extensive land holdings. As part of the agreement, Grizzly will issue 250,000 common shares to First Majestic and grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants, with an option to purchase the NSR for $250,000.
Grizzly Discoveries Inc. provided an update on exploration results for the Midway Mine Area as part of the Greenwood District Precious and Battery Metals Project in British Columbia. Significant high-grade results for gold, silver, copper, lead, and zinc were reported from various areas explored in 2022 and 2023. Plans for 2024 include drilling, trenching, and exploration for battery metals. New mineral claims were acquired, and the company is aiming for an aggressive drilling campaign in 2024.
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