The Homestake occurrence is located on the eastern slopes of the Rice Creek valley, 250 metres west and downslope of the Dayton occurrence (082ESW022). Bridesville, British Columbia lies 5 kilometres to the southwest.
The oldest rocks in the vicinity of the Homestake occurrence belong to the Carboniferous to Permian Kobau and Anarchist groups. Amphibolite, greenstone, quartzite, chert, chlorite schist and minor marble comprise the Kobau Group and amphibolite, greenstone, quartz chlorite schist, quartz biotite schist and minor serpentinized peridotite comprise lithologies of the Anarchist Group. Eocene Penticton Group lithologies outcrop to the east while Middle Jurassic porphyritic granite, granodiorite and monzonite intrusions are found to the immediate south. Smaller plugs, dikes and sills of biotite granodiorite, quartz diorite and granite of Middle Jurassic to Cretaceous age intrude the Anarchist Group rocks. Greenschist regional metamorphism is common in Anarchist Group rocks. Contact metasomatism is also locally observed along the contact between Anarchist Group rocks and Middle Jurassic intrusions.
The Homestake occurrence lies in greenstone metavolcanic and metasedimentary rocks of the Anarchist Group. Contact metasomatic alteration has occurred in greenstones adjacent to the contact with Middle Jurassic granodiorite and granite. Granodiorite and granite of the Nelson intrusions occur to the southwest.
Mineralization at the prospect consists of disseminated chalcopyrite, pyrite and pyrrhotite in a shear zone up to 18 metres wide, chalcopyrite and pyrite in thin quartz and calcite veinlets hosted in greenstone and lesser greywacke and a newly discovered gold-copper skarn. Malachite staining is present along fractures and in veins.
The occurrence and surrounding area have received considerable exploration from 1960 through to the 1990s. In 1984, several samples taken from old trenches at the Homestake occurrence yielded low gold values (Assessment Report 13563).
In 1993, 9 rotary-drill holes totalling 390.1 metres were drilled as part of an exploration program. Gold values from sample assays were low overall. The best assay results from the rotary- drill holes in the vicinity of the shear zone was from hole 93DC2 #8. The 10-metre interval from 31 to 38 metres yielded 3.05 grams per tonne gold (Assessment Report 23355). The assay results are coincident with ground magnetometer and gold soil geochemistry anomalies. Elevated gold values appeared to be associated with pyritization along a complex contact zone between overlying andesite and diorite at depth.
Skarn mineralization was first discovered in rotary-drill hole 93DC2 #5. Diorite was intersected in the upper part of the drillhole. Very fine crystalline garnet, epidote skarn with sulphides were intersected to 27.4 metres depth. The drillhole intersected hornfelsed rocks below the skarn zone. Subsequent diamond-drill holes 96-1 and 96-2 have intersected skarn and calcsilicate horizons up to 100 metres thick containing pyrite, pyrrhotite, arsenopyrite and minor chalcopyrite. Assay samples from drillhole 96-1 yielded an average of 0.34 gram per tonne gold over the interval from 3.96 to 102.41 metres depth (George Cross News Letter No. 59 - March 22, 1996). Several 3-metre sections ranged from 0.68 to 1.37 grams per tonne gold (George Cross News Letter No. 59 - March 22, 1996). Drillholes 96-2 and 96-3 intersected equally continuous gold mineralization from surface to 67.00 and 42.67 metres, respectively (George Cross News Letter No. 59 - March 22, 1996). Drillhole 96-3 intersected heavily mineralized feldspar-rich dacite at surface followed by propylitized andesite, greenstone and pyroclastic flows. Intense brecciation was encountered throughout all three drillholes. Potential extensions of the skarn zone are outlined by strong geochemical and induced polarization anomalies.
During 2008 through 2012, Grizzly Discoveries Inc. completed programs of geochemical (rock, stream sediment and soil) sampling, geological mapping and airborne and ground geophysical surveys on the Dayton-Sidley area of the Greenwood Property.
