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Great Bear Resources Ltd (3)
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Shares Issued 38,172,811
Close 2019-06-11 C$ 4.16
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Great Bear Resources moves third drill rig to Dixie

2019-06-11 09:16 ET - News Release

Mr. Chris Taylor reports


Great Bear Resources Ltd. has mobilized a third drill rig to its 100-per-cent-owned Dixie project in the Red Lake district of Ontario as part of its continuing fully financed, 60,000-metre drill program.

The third drill will target the new Bear-Rimini zone and the LP fault, which is the 18-kilometre-long structural target that is adjacent to and partially hosts the discovery. Drilling is expected to begin at the Bear-Rimini zone using the third drill rig within a few days.

The Bear-Rimini discovery consists of multiple zones of shallow high-grade gold mineralization in drill hole DNW-011. Highlight intervals include 14.00 metres of 12.33 grams per tonne gold, including 4.60 metres of 30.90 grams per tonne gold, and 2.00 metres of 194.21 grams per tonne gold, including 0.50 metre of 759.38 grams per tonne gold (see Great Bear's news release of May 28, 2019). The high-grade gold intervals were intersected at less-than-100-metre vertical depth in the footwall of the LP fault. Mineralization within the fault zone itself returned a separate interval of 50.60 metres of 0.74 gram per tonne gold. Fifteen additional historical drill holes have also cut the LP fault along 2.5 kilometres of strike length and intercepted similar lower-grade mineralization to that observed within the fault in DNW-011.

Chris Taylor, president and chief executive officer of Great Bear, said: "Approximately 30,000 metres of our fully funded 60,000-metre drill program remain to be drilled this year. Two drill rigs are currently on site at Dixie and will continue to drill the Hinge and Dixie Limb zones. The third drill rig is expected to be dedicated to ongoing drilling of the Bear-Rimini zone and LP fault. The company will continue to systematically and rapidly explore the high-grade gold zones discovered to date plus several additional high-priority targets that have also been identified across the property."

About Great Bear Resources Ltd.

Great Bear 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 by Highway 105, a 15-minute drive from downtown Red Lake, Ont. The Dixie property covers a drill and geophysically defined multikilometre gold-mineralized structure similar to that associated with other producing gold mines in the district. 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 elsewhere in the Red Lake district.

R. Bob Singh, PGeo, director and vice-president, exploration, and Andrea Diakow, PGeo, exploration manager, for 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.

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