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Grizzly to Acquire the Motherlode Crown Grants in the Greenwood District Precious and Battery Metals Project, BC
Edmonton, Alberta--(Newsfile Corp. - June 17, 2024) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE:...
About this update from Grizzly Discoveries Inc
[{"type":"text","content":"Grizzly to Acquire the Motherlode Crown Grants in the Greenwood District Precious and Battery Metals Project, BCEdmonton, Alberta--(Newsfile Corp. - June 17, 2024) - Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (\"Grizzly\" or the \"Company\") is pleased to announce that it has entered into a purchase agreement (the \"Purchase Agreement\") with First Majestic Silver Corp. (\"First Majestic\") to acquire the Motherlode Crown Grants, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900s produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 & 2). The Motherlode Crown Grants comprise 13 Crown Grants that all retain the subsurface mineral rights and date back to the late 1800s early 1900s when they were granted. 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 in British Columbia (Figure 1).Brian Testo, President and CEO of Grizzly Discoveries, stated, \"We are excited to have reached an agreement to acquire the historical Motherlode Mine. We look forward to an aggressive year drilling at the Motherlode Mine and other high-grade gold - silver - copper showings and historical mines in 2024 along with additional exploration for significant battery metals in our current 170,000+ acre land holdings in the Greenwood District.\"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/4488/213192_354e07d17495faf2_002full.jpgFigure 2: Motherlode Crown Grants, Greenwood Project.To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4488/213192_354e07d17495faf2_003full.jpgSummary of the terms of the Purchase Agreement:The Company will cover all costs related to the transfer of the Crown Grants from First Majestic to the Co...