Grizzly Discoveries Inc. (TSXV: GZD) has released preliminary results from a Phase 2 sampling program conducted in June 2026 at its Greenwood, British Columbia project, reporting significant gold and silver values from trenching at the Midway Mine area and a new gold occurrence at the Sappho Critical Minerals Target. Chip samples from a trench extending the Main Midway Mine trend returned up to 22.8 grams per tonne (g/t) gold and up to 1,120 g/t silver. The company says drilling is planned for fall 2026 to test multiple targets, making the upcoming program a key catalyst investors may be watching.

Key Points

  • Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF)
  • Phase 2 sampling at Midway Mine area returned up to 22.8 g/t Au and 1,120 g/t Ag from trench chip samples
  • Sappho follow-up sampling yielded 4.73 g/t Au from quartz float; permitting of drill locations is underway
  • Fall 2026 drilling program targeting Midway, Sappho, and Motherlode areas is planned for October to December

Midway Mine Trenching Uncovers High-Grade Gold-Silver Results

Preliminary results from June 2026 trenching at the Midway Precious Metals and Critical Minerals Target have extended the known surface extent of the Main Midway vein structure. Chip samples from the extended trend returned up to 22.8 g/t gold and 1,120 g/t silver. Additional samples from trenches immediately east of the Main Midway Mine returned up to 1.7 g/t Au, while samples to the southwest returned up to 2.7 g/t Au. The Midway area is being targeted for copper-gold skarn and epithermal gold-silver mineralisation, and the company states drilling is set to test these anomalous results and the historical mine this fall.

New Gold Occurrence Identified at Sappho Critical Minerals Target

Follow-up sampling near the Sappho Chargeability Anomaly — initially identified in early to mid-2026 — has returned 4.73 g/t Au from quartz float at the headwaters of Norwegian Creek, coincident with the northeast edge of the anomaly. Host rocks in the area are mapped as late Paleozoic to Early Triassic metasedimentary rocks, including carbonates and calcareous shales, with a number of intrusions mapped in the surrounding area. The company states that permitting of drill locations to test the Sappho Chargeability Anomaly is underway, and an initial drill test is planned for fall 2026.

Fall 2026 Drilling and Geophysical Program Across Multiple Greenwood Targets

Grizzly states that exploration work was suspended in July and August 2026 due to high fire season but has since recommenced. The company is permitting additional drillhole pads for fall drilling at the Motherlode Critical Minerals Target, along with potentially the Sappho and Midway target areas. Additional ground geophysical surveys are being planned, comprising IP, magnetics, and Loupe electromagnetics for the Sappho, Midway, and Motherlode areas. Drilling is planned from October to December 2026. All analytical work was conducted by ALS Global Limited using industry-standard QA/QC procedures, with results reviewed by a qualified person under National Instrument 43-101.