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Grizzly Signs Option Agreement to Purchase the Ag-Au-Pb-Zn Midway Mine
Edmonton, Alberta--(Newsfile Corp. - October 11, 2022) - Grizzly Discoveries Inc. (TSXV: GZD)...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly Signs Option Agreement to Purchase the Ag-Au-Pb-Zn Midway MineEdmonton, Alberta--(Newsfile Corp. - October 11, 2022) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (\"Grizzly\" or the \"Company\") is pleased to announce that, on October 9th, 2022, it signed an option agreement with Mr. Daniel Hurd of Peachland, British Columbia (BC), Canada to purchase the mineral rights to 317 hectares in seven (7) mineral claims in the Greenwood area, BC including the historical Silver(Ag)-Gold(Au)-Lead(Pb)-Zinc(Zn) Midway Mine and the Picturestone Quarry, which are about 4 km northwest of the town of Midway in the Kettle River Valley area of BC. The Midway - Picturestone mineral claims are strategically located within the Company's Greenwood land holdings and in particular the Company's Midway lands. The Midway Mine and the Picturestone (aka Picture Rock) Quarry area have seen intermittent exploration and mining since the late 1800's through to as recent as 2012. In the case of the historical Midway Mine, limited underground and open pit development has occurred. The Midway Mine and the Picturestone Quarry are situated within the \"Midway Window\", a structural zone within the Toroda Graben exposing Late Paleozoic to Jurassic sediments, volcanics and intrusions, including the Knob Hill and Brooklyn formations, centered on an old thrust fault in a similar setting to the Golden Crown and Lexington Mine area near Greenwood, BC as displayed in Figure 1. The Company's Midway Lands have been a focus of exploration since acquiring lands in the area. The current status of historical and modern exploration by the Company is illustrated in Figure 1, with most of the recent work focused on lands to the west and southwest of the historical Midway Mine.Prior owners and operators describe significant epithermal mineralization in the form vertical polymetallic sulphide veins enriched in pyrite, arsenopyrite, galena, sphalerite and stibnite, quartz veins and significant alteration at the Midway Mine and Picturestone Quarry. The Midway Mine is spatially associated with a northeast trending gold (Au), silver (Ag), lead (Pb), zinc (Zn) and arsenic (As) soil geochemical anomaly that is approximately 300 m in length and 100 m in width in the area of the Midway Mine1. Historical trench sampling yielded 2.8 grams per tonne (g/t) Au and 218...