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Great Bear Resources Ltd (3)
Symbol C : GBR
Shares Issued 38,172,811
Close 2019-05-28 C$ 3.52
Recent Sedar Documents

Great Bear drills 14 m of 12.33 g/t Au at Dixie

2019-05-28 14:42 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR DRILLS NEW HIGH-GRADE GOLD DISCOVERY AT DIXIE: 12.33 G/T GOLD OVER 14.00 M INCLUDING 30.90 G/T GOLD OVER 4.60 M; 194.21 G/T GOLD OVER 2.00 M INCLUDING 759.38 G/T GOLD OVER 0.50 M MULTIPLE SHALLOW GOLD ZONES AT NEW "BEAR-RIMINI" TARGET

Great Bear Resources Ltd. has identified a significant, new, high-grade gold discovery, the Bear-Rimini zone, at its 100-per-cent-owned Dixie project in the Red Lake district of Ontario. Highlighted assay results from discovery drill hole DNW-011 are provided in the attached table.

               HIGHLIGHTED RESULTS FROM DISCOVERY DRILL HOLE DNW-011 INTO THE BEAR-RIMINI ZONE
  
Drill hole      From (m)    To (m)   Width (m)   Width (feet)   Gold (g/t)   Gold (oz/t)   Vertical depth (m)

DNW-011           58.00     60.00        2.00           6.56       194.21          6.24                   53         
Including         58.00     58.50        0.50           1.64       759.38         24.42                    -   
                  58.50     60.00        1.50           4.92         5.81          0.19                    -    
And               75.00     89.00       14.00          45.93        12.33          0.40                    -    
                  75.95     76.45        0.50           1.64        19.33          0.62                    -    
Including         75.95     80.55        4.60          15.09        30.90          0.99                    -    
And including     78.45     80.55        2.10           6.89        60.27          1.94                   71         
And including     78.45     79.55        1.10           3.61        98.78          3.18                    -    
And including     78.95     79.55        0.60           1.97       130.97          4.21                    -    
And including     80.55     88.00        7.45          24.44         0.23          0.01                    -    
And including     88.00     89.00        1.00           3.28        27.15          0.87                   81         
And              119.00    169.60       50.60         166.01         0.74          0.02                  108         

Highlights of Great Bear's most recent discovery include:

  • The Bear-Rimini zone is located 2.5 kilometres northwest of the Hinge zone.
  • The new discovery is hosted by a new exploration target, the LP fault, and adjacent lithologies. Airborne geophysics completed by Great Bear shows the LP fault and a parallel structure, the north fault, are interpreted to transect the property for 18 kilometres of strike length.
  • DNW-011 intersected intervals of gold mineralization across 110 metres of core length and were strongest in a coarse quartz crystal lapilli tuff unit in the northern footwall of the fault. This is the first drill hole in the project's history to target this tuff unit. Complete assays from DNW-011 are disclosed herein.
  • The LP fault is interpreted as a major gold mineralization control and hydrothermal fluid conduit during Archean-age gold mineralization. The generally one-kilometre-wide area between the LP and north faults may represent a significant structural dilation zone where gold-rich hydrothermal fluids accumulated.
  • The LP fault has a projected depth of 14 kilometres, extending to base of the continental crust/upper mantle, as defined by the lithoprobe survey of the Red Lake district. A similar deep-seated structural feature was interpreted by the survey to be spatially and genetically associated with the majority of gold mineralization along the main Red Lake mine trend, where over 30 million ounces of gold have been produced.
  • The LP fault parallels Highway 105, the main access corridor to Red Lake, and is one to three kilometres from a power line and paved road. The LP fault it is a 30-minute drive from the main Red Lake gold mine, which is operated by Newmont Goldcorp Corp.

Chris Taylor, president and chief executive officer of Great Bear, commented: "After recognizing a significant hydrothermal alteration zone in our previous round of regional drilling, we tested and discovered, in our first hole, a new zone of shallow, high-grade gold associated with silicification of host rocks related to a crustal-scale structure we call the LP fault. The fault marks a contact between mafic and felsic/intermediate rocks and is spatially associated with an 80-to-200-metre-wide quartz-sericite zone associated with highly anomalous to high-grade gold mineralization. We interpret the LP fault to transect the property for approximately 18 kilometres of strike length. The new Bear-Rimini zone joins the Hinge zone as a significant new gold discovery and will be an additional focus of drilling through the remainder of 2019."

The Bear-Rimini zone high-grade gold discovery:

  • The shallowest current gold intercept in DNW-011 is only 53 metres vertically from surface (759.38 grams per tonne gold over 0.5 metre).
  • Gold in DNW-011 occurs as coarse-to-fine disseminations with minor accompanying sulphides.
  • DNW-011 was drilled from north to south across the quartz-sericite zone, which Great Bear had previously intersected in hole DNW-008 (see news release dated May 7, 2019 (34.6 metres of 0.55 gram per tonne gold)), and the LP fault, and intersected two different zones of gold mineralization, which are distinguished by host rock type and proximity to the primary deformation zone within the LP fault:
    • High-grade gold is hosted by strained coarse quartz crystal lapilli tuff units affected by pervasive silica alteration to the north of the LP fault.
    • Anomalous-to-moderate gold grades are hosted by a quartz-sericite zone within, as well as immediately adjacent to, the LP fault, in significantly strained fine quartz crystal tuffs and fine-grained intermediate tuffs.

Strike potential of the Bear-Rimini zone:

  • A total of 15 drill holes completed by previous explorers and Great Bear have intersected the quartz-sericite zone along 2.5 kilometres of strike length of the LP fault. All 15 (100 per cent) of these drill holes encountered anomalous-to-moderate gold grades, matching those observed in the quartz-sericite zone in DNW-011 and DNW-008.
  • These historical drill holes are interpreted to have been drilled south of the silicified zone intersected by DNW-011 and stayed entirely within the quartz-sericite zone. The DNE holes drilled closest to the projected silicified zone (farthest north) had higher gold grades, including visible gold in drill core. Up to 80 per cent of the total core length of some historical drill holes were never split and assayed by past explorers. Great Bear is currently relogging and assaying unsampled mineralized intervals of core from all available historical drill holes from the area.
  • While the LP fault has 18 kilometres of interpreted strike length, the number of mineralized zones that may be hosted by the fault and adjacent units is not yet known, and the structural corridor is not necessarily mineralized along its entire length.

The company continues to undertake a fully financed, 60,000-metre drill program, which is expected to continue through 2019. In order to accelerate the program, a second drill rig was added in early 2019, and a third drill rig is expected in the near future. Approximately 40,000 metres of drilling remain in the current program.

About Great Bear Resources Ltd.

Great Bear Resources is a well-financed company based in Vancouver, Canada, managed by a team with a record of success in the mineral exploration sector. Great Bear holds a 100-per-cent interest, royalty-free, in its flagship Dixie property, which is road accessible year-round via Highway 105, a 15-minute drive from downtown Red Lake, Ont. The Red Lake mining district 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 the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology.

Quality assurance/quality control

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 SGS Canada Inc. in Red Lake, Ont., and Activation Laboratories in Ancaster, Ont., both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard fire assay-AA techniques. Samples returning over three grams per tonne gold are analyzed utilizing standard fire assay-gravimetric methods. Selected samples with visible gold are also analyzed with a standard one-kilogram metallic screen fire assay. 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. No quality assurance/quality control issues were noted with the results reported herein.

R. Bob Singh, PGeo, a director and vice-president of exploration, and Andrea Diakow, PGeo, exploration manager at Great Bear, are the qualified persons, as defined by National Instrument 43-101, responsible for the accuracy of technical information contained in this news release.

Hole         From (m)    To (m)             Lithology  Gold (g/t)

DNW-011           12        13    Felsic lapilli tuff      0.059
DNW-011           13        14    Felsic lapilli tuff      0.043
DNW-011           14      14.9    Felsic lapilli tuff      0.165
DNW-011         14.9      15.4             Mafic dike      0.022
DNW-011         15.4      16.4    Felsic lapilli tuff      0.475
DNW-011         16.4      17.4    Felsic lapilli tuff      0.069
DNW-011         17.4      18.4    Felsic lapilli tuff      0.017
DNW-011         18.4      19.4    Felsic lapilli tuff      0.006
DNW-011         19.4      20.4    Felsic lapilli tuff       0.01
DNW-011         20.4      20.9    Felsic lapilli tuff      0.451
DNW-011         20.9      21.9    Felsic lapilli tuff      0.005
DNW-011         21.9      22.9    Felsic lapilli tuff      0.017
DNW-011         22.9        24    Felsic lapilli tuff      0.002
DNW-011           24        25    Felsic lapilli tuff      0.002
DNW-011           25        26    Felsic lapilli tuff      0.043
DNW-011           26        27    Felsic lapilli tuff      0.002
DNW-011           27        28    Felsic lapilli tuff      0.023
DNW-011           28        29    Felsic lapilli tuff      0.067
DNW-011           29        30    Felsic lapilli tuff      0.074
DNW-011           30      30.5    Felsic lapilli tuff      1.013
DNW-011         30.5        31    Felsic lapilli tuff      0.083
DNW-011           31        32    Felsic lapilli tuff      0.156
DNW-011           32        33    Felsic lapilli tuff      0.069
DNW-011           33        34    Felsic lapilli tuff      0.028
DNW-011           34        35    Felsic lapilli tuff      0.032
DNW-011           35        36    Felsic lapilli tuff      0.025
DNW-011           36        37    Felsic lapilli tuff      0.055
DNW-011           37      37.8    Felsic lapilli tuff      0.023
DNW-011         37.8     38.45    Felsic lapilli tuff      0.007
DNW-011        38.45        39    Felsic lapilli tuff      0.012
DNW-011           39      39.5    Felsic lapilli tuff      0.016
DNW-011         39.5        40    Felsic lapilli tuff      0.013
DNW-011           40      40.5    Felsic lapilli tuff      0.138
DNW-011         40.5        41    Felsic lapilli tuff      0.008
DNW-011           41        42             Mafic dike      0.012
DNW-011           42        43    Felsic lapilli tuff      0.042
DNW-011           43        44    Felsic lapilli tuff      0.282
DNW-011           44        45    Felsic lapilli tuff      0.148
DNW-011           45        46    Felsic lapilli tuff      0.027
DNW-011           46        47    Felsic lapilli tuff      0.014
DNW-011           47        48    Felsic lapilli tuff      0.121
DNW-011           48        49    Felsic lapilli tuff      0.023
DNW-011           49        50    Felsic lapilli tuff      0.046
DNW-011           50        51    Felsic lapilli tuff      0.039
DNW-011           51        52             Mafic dike       0.05
DNW-011           52        53             Mafic dike      0.002
DNW-011           53        54             Mafic dike      0.006
DNW-011           54        55             Mafic dike      0.013
DNW-011           55      55.5             Mafic dike       0.38
DNW-011         55.5      56.5    Felsic lapilli tuff      0.015
DNW-011         56.5        57    Felsic lapilli tuff      0.016
DNW-011           57      57.5    Felsic lapilli tuff      0.022
DNW-011         57.5        58    Felsic lapilli tuff      0.128
DNW-011           58      58.5    Felsic lapilli tuff     759.38
DNW-011         58.5        59    Felsic lapilli tuff      2.247
DNW-011           59        60    Felsic lapilli tuff      7.598
DNW-011           60      60.5    Felsic lapilli tuff      0.027
DNW-011         60.5        61    Felsic lapilli tuff      0.061
DNW-011           61        62    Felsic lapilli tuff      0.246
DNW-011           62        63    Felsic lapilli tuff      0.054
DNW-011           63      63.5    Felsic lapilli tuff      0.098
DNW-011         63.5        64    Felsic lapilli tuff      0.013
DNW-011           64        65    Felsic lapilli tuff      0.022
DNW-011           65      65.5    Felsic lapilli tuff       0.03
DNW-011         65.5        66    Felsic lapilli tuff      0.002
DNW-011           66        67            Quartz vein      0.033
DNW-011           67        68    Felsic lapilli tuff      0.002
DNW-011           68      68.5    Felsic lapilli tuff      0.024
DNW-011         68.5        69    Felsic lapilli tuff      0.009
DNW-011           69      69.5    Felsic lapilli tuff      0.012
DNW-011         69.5      70.5    Felsic lapilli tuff      0.023
DNW-011         70.5      71.5    Felsic lapilli tuff      0.027
DNW-011         71.5      72.5    Felsic lapilli tuff      0.029
DNW-011         72.5      73.5    Felsic lapilli tuff      0.679
DNW-011         73.5        74    Felsic lapilli tuff      0.084
DNW-011           74      74.5    Felsic lapilli tuff      0.073
DNW-011         74.5        75    Felsic lapilli tuff      0.085
DNW-011           75     75.95    Felsic lapilli tuff      1.702
DNW-011        75.95     76.45    Felsic lapilli tuff      19.33
DNW-011        76.45     76.95    Felsic lapilli tuff      2.186
DNW-011        76.95     77.45    Felsic lapilli tuff       1.16
DNW-011        77.45     77.95    Felsic lapilli tuff      7.311
DNW-011        77.95     78.45    Felsic lapilli tuff      1.177
DNW-011        78.45     78.95    Felsic lapilli tuff      60.15
DNW-011        78.95     79.55    Felsic lapilli tuff     130.97
DNW-011        79.55     80.05    Felsic lapilli tuff      25.99
DNW-011        80.05     80.55            Quartz vein      9.829
DNW-011        80.55     81.05    Felsic lapilli tuff      0.391
DNW-011        81.05        82    Felsic lapilli tuff      0.236
DNW-011           82        83    Felsic lapilli tuff      0.195
DNW-011           83        84    Felsic lapilli tuff      0.074
DNW-011           84        85    Felsic lapilli tuff      0.164
DNW-011           85        86    Felsic lapilli tuff      0.522
DNW-011           86        87    Felsic lapilli tuff      0.134
DNW-011           87        88    Felsic lapilli tuff      0.224
DNW-011           88        89    Felsic lapilli tuff      27.15
DNW-011           89        90    Felsic lapilli tuff      0.075
DNW-011           90        91    Felsic lapilli tuff      0.048
DNW-011           91        92    Felsic lapilli tuff       0.02
DNW-011           92        93    Felsic lapilli tuff      0.249
DNW-011           93        94    Felsic lapilli tuff      0.024
DNW-011           94        95    Felsic lapilli tuff      0.035
DNW-011           95        96    Felsic lapilli tuff      0.036
DNW-011           96        97    Felsic lapilli tuff      0.054
DNW-011           97        98    Felsic lapilli tuff       0.04
DNW-011           98      98.8    Felsic lapilli tuff      0.162
DNW-011         98.8      99.3    Felsic lapilli tuff      0.009
DNW-011         99.3     100.3    Felsic lapilli tuff      0.137
DNW-011        100.3     101.3    Felsic lapilli tuff       0.18
DNW-011        101.3       102    Felsic lapilli tuff      0.068
DNW-011          102       103    Felsic lapilli tuff      0.126
DNW-011          103       104    Felsic lapilli tuff      0.207
DNW-011          104       105    Felsic lapilli tuff      0.199
DNW-011          105     105.9    Felsic lapilli tuff      0.126
DNW-011        105.9     107.2             Mafic dike      0.734
DNW-011        107.2     107.7             Mafic dike      0.069
DNW-011        107.7     108.2            Quartz vein      0.036
DNW-011        108.2     108.7            Quartz vein      0.006
DNW-011        108.7     109.2            Quartz vein      0.028
DNW-011        109.2     109.7            Quartz vein      0.066
DNW-011        109.7     110.2            Quartz vein      1.746
DNW-011        110.2       111            Quartz vein      0.329
DNW-011          111    111.95    Felsic lapilli tuff      0.679
DNW-011       111.95    112.25      Intermediate tuff      0.087
DNW-011       112.25     112.8    Felsic lapilli tuff      0.027
DNW-011        112.8       114      Intermediate tuff      0.417
DNW-011          114       115      Intermediate tuff      0.375
DNW-011          115     116.1      Intermediate tuff      0.183
DNW-011        116.1       117      Intermediate tuff      0.024
DNW-011          117       118    Felsic lapilli tuff      0.018
DNW-011          118       119    Felsic lapilli tuff      0.076
DNW-011          119       120    Felsic lapilli tuff      0.521
DNW-011          120       121    Felsic lapilli tuff      0.189
DNW-011          121       122    Felsic lapilli tuff      0.913
DNW-011          122       123    Felsic lapilli tuff      0.042
DNW-011          123       124    Felsic lapilli tuff      0.106
DNW-011          124       125    Felsic lapilli tuff      0.054
DNW-011          125       126    Felsic lapilli tuff      0.027
DNW-011          126       127    Felsic lapilli tuff      0.149
DNW-011          127    127.95    Felsic lapilli tuff      0.135
DNW-011       127.95       129             Mafic tuff      1.239
DNW-011          129       130             Mafic tuff      2.959
DNW-011          130       131             Mafic tuff      1.042
DNW-011          131       132             Mafic tuff      0.601
DNW-011          132       133             Mafic tuff      0.564
DNW-011          133    134.05             Mafic tuff      0.871
DNW-011       134.05    134.65             Mafic tuff      2.136
DNW-011       134.65    135.65      Intermediate tuff      0.524
DNW-011       135.65    136.85      Intermediate tuff      2.658
DNW-011       136.85       138      Intermediate tuff      1.179
DNW-011          138       139            Felsic tuff      0.622
DNW-011          139    139.75            Felsic tuff      0.745
DNW-011       139.75    140.25            Felsic tuff      2.833
DNW-011       140.25    140.75            Felsic tuff      0.371
DNW-011       140.75    141.25            Felsic tuff      1.222
DNW-011       141.25    141.75            Felsic tuff      2.115
DNW-011       141.75    142.25            Felsic tuff      1.644
DNW-011       142.25    142.75            Felsic tuff      0.453
DNW-011       142.75    143.25    Felsic lapilli tuff      0.904
DNW-011       143.25     144.1    Felsic lapilli tuff      0.924
DNW-011        144.1       145    Felsic lapilli tuff      0.349
DNW-011          145       146            Felsic tuff      0.154
DNW-011          146       147            Felsic tuff      0.295
DNW-011          147    147.85            Felsic tuff      0.135
DNW-011       147.85    148.15    Felsic lapilli tuff      0.055
DNW-011       148.15    149.65    Felsic lapilli tuff      0.049
DNW-011       149.65    150.15    Felsic lapilli tuff      0.002
DNW-011       150.15       151    Felsic lapilli tuff      0.214
DNW-011          151    152.25            Felsic tuff      0.196
DNW-011       152.25       153    Felsic lapilli tuff      0.214
DNW-011          153       154    Felsic lapilli tuff      0.456
DNW-011          154       155            Felsic tuff      2.454
DNW-011          155       156            Felsic tuff       0.33
DNW-011          156    156.65            Felsic tuff      0.237
DNW-011       156.65    157.65    Felsic lapilli tuff      1.911
DNW-011       157.65    158.65    Felsic lapilli tuff      0.365
DNW-011       158.65    159.65    Felsic lapilli tuff      0.597
DNW-011       159.65    160.65    Felsic lapilli tuff      2.042
DNW-011       160.65     161.5    Felsic lapilli tuff      0.266
DNW-011        161.5     162.5    Felsic lapilli tuff      0.123
DNW-011        162.5     163.5            Felsic tuff       0.04
DNW-011        163.5     164.5            Felsic tuff      0.053
DNW-011        164.5    165.65            Felsic tuff      0.181
DNW-011       165.65    166.15    Felsic lapilli tuff      0.061
DNW-011       166.15       167    Felsic lapilli tuff      0.268
DNW-011          167       168            Felsic tuff      0.155
DNW-011          168     168.6             Mafic dike      6.391
DNW-011        168.6     169.6            Felsic tuff      0.141

We seek Safe Harbor.

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