The Grizzly occurrence is located at an elevation of approximately 2050 metres on a small, north- trending ridge, approximately 1 kilometre southeast of Tillicum Mountain.
The area is underlain by highly deformed Triassic and older (?) volcanic and sedimentary rocks of and younger aplite and feldspar porphyry dikes, and granitic intrusions. The volcanic rocks are the oldest units and are tentatively assigned to the Slocan or Kaslo Group, while the younger sedimentary rocks are correlated with the Slocan Group. A complete regional geology summary can be found in the Heino-Money (MINFILE 082FNW234) occurrence.
Locally, shear-related calc-silicate-quartz skarn zones host sulphide mineralization, consisting primarily of massive pyrrhotite with minor sphalerite, chalcopyrite, galena and traces of free gold, in conformable bands to pods with in a pelitic schist and feldspar porphyry intrusion. The mineralized zone has been traced along strike for a distance of approximately 400 metres with a thickness up to 15 metres and individual sulphide bands up to 0.6 metre wide.
In 1982, a chip sample from the northern end of the mineralized zone yielded 4.4 grams per tonne gold and 29.1 grams per tonne silver over 5.0 metres, while another chip sample from the same area yielded 4.8 grams per tonne gold, 85.5 grams per tonne silver and 4.99 per cent combined lead-zinc over approximately 1 metre (Assessment Report 11161). Grab sampling, from the southern end of the zone yielded up to 106.7 grams per tonne silver, 0.69 per cent tungsten trioxide and 11.17 per cent combine lead-zinc (Assessment Report 11161).
In 1989, diamond drilling yielded values up to 10.4 grams per tonne gold over 1.2 metres in hole G89-214; 19.9 grams per tonne gold over 0.9 metre in hole G89-213 and 2.6 grams per tonne gold with 15.3 grams per tonne silver over 14.4 metres in hole G89-220, including 3.3 metres yielding 5.1 grams per tonne gold and 15.8 grams per tonne silver (Assessment Report 25004).
In 1997, rock chip sampling yielded up to 4.4 grams per tonne gold and 4004.8 grams per tonne silver (Assessment Report 25004).
In 1997, an estimated possible reserve of 252,060 tonnes averaging 13.7 grams per tonne gold was reported (Assessment Report 25004).
The area has been explored historically in conjunction with the nearby approximately Heino-Money (MINFILE 082FNW234) occurrence to the northwest. In 1979 and 1980, the area was prospected by Arnold and Elaine Gustafson. Later in 1980, after the discovery of high-grade gold values on the nearby Tillicum Mountain (MINFILE 082FNW234) property, the area was subsequently acquired by the Esperanza Explorations Ltd and Welcome North Mines Ltd. joint venture, which led to additional claim staking (Til 1-4 claims) to include the Silver Queen (MINFILE 082FNW220) ground to the south. Welcome North terminated the joint venture in March 1982. In June 1982, La Teko Resources optioned a 50.4 per cent interest in Esperanza Explorations. Work in 1981 and 1982, included geological mapping, prospecting, geochemical sampling and an airborne geophysical survey. In 1984, a program of rock sampling and geological mapping was completed. The area was explored by Esperanza Explorations through 1989 in conjunction with the Tillicum Mountain. This work included four diamond drill holes, totalling 605.4 metres. In 1997, AMT Resources and IBEX Resources completed a program of geochemical sampling, trenching and a ground electromagnetic survey on the area. In 2001 and 2002, 1330275 Ontario Limited completed programs of rock, silt and soil sampling and geological mapping on the area. During 2008 through 2014, AMT Industries Canada completed programs of soil sampling, a ground electromagnetic survey and remote sensing analysis on the area. In 2020, MGX Minerals Inc. optioned the Heino Gold property.
