Mr. Chris Taylor reports
GREAT BEAR DRILLS HINGE ZONE EXTENSIONS - RESULTS INCLUDE NEW 42 M WIDE ZONE WITH MULTIPLE GOLD-BEARING INTERCEPTS INCLUDING 31.60 G/T GOLD OVER 3.40 M AT 157 M DEPTH
Great Bear Resources Ltd. has released drill results from the Dixie Hinge zone (DHZ) at its 100-per-cent-owned Dixie project in the Red Lake district of Ontario.
Great Bear has discovered one of the widest near-surface occurrences of veining and alteration hosting high-grade gold reported on the project to date, and has also successfully extended the Hinge zone at depth. Highlights of current results include:
- Drill hole DHZ-023 intersected a 42-metre-wide (138 feet -- approximate true width) zone of increased hydrothermal alteration, sulphide mineralization and multiple quartz veins hosting significant gold mineralization from 121 to 158 metres in vertical depth, approximately 50 metres to the west of previously reported Hinge zone drill holes.
- Gold-bearing vein intercepts from DHZ-023 include 3.40 metres of 31.60 g/t gold, which includes 1.75 metres of 61.05 g/t gold, and 2.80 metres of 9.91 g/t gold, which includes 1.50 metres of 17.88 g/t gold. A summary of drill results is provided in the associated table.
- Hole DHZ-017 was drilled as a significant 50-metre down-plunge stepout from the deepest previous Hinge zone drilling. It intersected 1.50 metres of 28.01 g/t gold including 0.50 metre of 80.44 g/t gold. This hole extends the down-plunge depth of the Hinge zone to 281 metres.
- All (100 per cent) of the 38 drill holes completed by Great Bear along 330 metres of strike length of the Hinge zone that has been drilled to date have intersected gold mineralization. Twenty-two of 38 drill holes (58 per cent) have intersected intervals containing greater than 10 g/t gold.
Chris Taylor, president and chief executive officer of Great Bear, said: "We continue to be surprised by the strength and scale of the gold system at Dixie. Our latest drilling shows the Hinge zone vein and alteration system swells to 138 feet (42 metres) in approximate true width, includes individual veins over 45 feet (14 metres) in width, and contains multiple gold-bearing veins in four of the latest eight drill holes. We will continue to drill to extend the strike length, depth and number of gold zones at the Dixie Hinge through 2019 and 2020. In addition, a second drill rig is now operational and will test a number of new targets across the property that the company feels have strong potential to host new gold discoveries."
MOST RECENT RESULTS FROM HINGE ZONE DRILLING
(multiple gold veins intercepted in four of eight drill holes)
Hole From To Width* Gold Vertical depth
(m) (m) (m) (g/t) (m)
DHZ-015 237.3 238.5 1.20 9.23 202
including 237.9 238.5 0.60 15.57 202
DHZ-016 207.9 210.5 2.60 1.57 192
including 207.9 208.9 1.00 2.39 193
and including 207.9 208.4 0.50 3.47 193
DHZ-017 45.35 50.7 5.35 4.82 42
and including 48.65 50.7 2.05 9.15 45
and including 49.4 50.25 0.85 20.69 45
and 102.7 103.4 0.70 2.48 96
and 235.75 237.25 1.50 28.01 222
including 236.25 236.75 0.50 80.44 222
DHZ-018 196.2 197.7 1.50 7.61 167
including 196.2 197.2 1.00 11.18 167
DHZ-020 182.75 190.2 7.45 4.21 152
including 182.75 183.25 0.50 18.62 152
and including 189.55 190.2 0.65 21.27 157
and 200.85 201.85 1.00 13.37 166
and 244.5 245.35 0.85 10.18 202
DHZ-021 52.6 53.1 0.50 3.01 38
and 90.0 92.45 2.45 4.80 67
including 91.4 92.45 1.05 11.08 68
and including 91.4 91.9 0.50 21.53 68
DHZ-022 54.0 54.9 0.90 3.21 44
DHZ-023 57.4 58.0 0.60 3.95 49
and 142.85 145.85 3.00 1.92 121
including 142.85 143.4 0.55 5.78 122
and 171.5 174.3 2.80 9.91 145
including 171.5 173.0 1.50 17.88 146
including 171.5 172.0 0.50 51.60 146
and 185.1 188.5 3.40 31.60 157
including 185.1 186.85 1.75 61.05 158
including 185.7 186.85 1.15 86.02 157
including 185.7 186.35 0.65 128.14 158
* Width is determined to be 90 to 95 per cent of true width based on
intersection points of the drill hole intercept with the geological model
and oriented drill core data.
An additional drill hole, DHZ-019, was drilled off plunge of the primary mineralization to test for additional parallel zones and intersected a massive basalt unit with anomalous gold values of up to 0.28 g/t gold.
The new discovery of the thickened near surface vein zone demonstrates the South Limb and Hinge zones form one continuous vein set. The Hinge zone name will be retained going forward. Apparently continuous, gold-bearing quartz veins swell and narrow, as well as merge and divide along the 330-metre strike length of the Hinge zone vein system drilled to date.
Great Bear is currently undertaking a fully financed 30,000-metre, approximately 150-drill-hole program that is expected to continue through 2019 and 2020. A second drill rig was added to the project in early February, 2019, to accelerate this work and is now drilling additional gold targets.
Options grant
The company also reports it has granted an aggregate of 500,000 stock options to employees, directors, consultants and advisers of the company, exercisable at $3.72 per share for a period of five years. The options are subject to a four-month hold period.
About Great Bear Resources Ltd.
The Dixie property is located an approximately 15-minute drive along Highway 105 from downtown Red Lake, Ont. The Red Lake mining district has produced over 30 million ounces of gold and is one of the premier mining districts in Canada, benefiting from major active mining operations, including the Red Lake gold mine of Goldcorp Inc., plus modern infrastructure and a skilled work force. In addition, Great Bear is also earning a 100-per-cent royalty-free interest in its West Madsen properties, which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.'s Madsen property.
Drill core is logged and sampled in a secure core storage facility located in Red Lake, Ont. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster, Ont., and SGS Canada Inc. in Red Lake, Ont., both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard fire assay-AA (atomic absorption) techniques. Samples returning over 3.0 g/t gold are analyzed utilizing standard fire assay-gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program (QA/QC). No QA/QC issues were noted with the results reported herein.
R. Bob Singh, PGeo, director and vice-president, exploration, for Great Bear, is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
We seek Safe Harbor.
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