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Great Bear Resources Ltd (3)
Symbol GBR
Shares Issued 40,660,081
Close 2019-08-20 C$ 5.41
Market Cap C$ 219,971,038
Recent Sedar+ Documents

Great Bear drills 13.2 m of 7.4 g/t Au at Dixie

2019-08-21 07:35 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR DRILLS NEW SHALLOW HIGH-GRADE GOLD ZONE AT HINGE: 30.81 G/T GOLD OVER 2.50 M WITHIN 7.40 G/T OVER 13.20 M AND 20.41 G/T GOLD OVER 2.20 M WITHIN 2.07 G/T GOLD OVER 29.80 M; DIXIE LIMB DRILLING INTERSECTS 21.54 G/T GOLD OVER 2.35 M WITHIN 9.68 G/T GOLD OVER 5.60 M

Great Bear Resources Ltd. has released the most recent drill results from the Hinge and Dixie Limb zones at its 100-per-cent-owned Dixie project in the Red Lake district of Ontario. The most recent Hinge zone drill results are summarized in the associated table, and Dixie Limb drill results are summarized in a later table.

Chris Taylor, president and chief executive officer of Great Bear, said: "The one-year anniversary of our Hinge zone discovery is marked by the discovery of a new shallow high-grade gold zone located west of, and above, the majority of our Hinge drilling to date. Concurrently, high-grade gold continues to be drilled at predicted structural intersections in the Dixie Limb. Presently, all three drill rigs are deployed at various targets along the LP fault. It would have been difficult to imagine last summer just how much progress we would make in only one year. The most exciting aspect of the Dixie project is that the pace of discovery has continued to accelerate, and we look forward to what our fully funded drill campaign will continue to yield through 2019 and 2020."

Highlights of the most recent results include:

  • A new steeply plunging high-grade subzone was discovered to the west of, and above, most previous drilling in the Hinge zone. Results include 30.81 grams per tonne gold over 2.50 metres within a broader zone of 7.40 g/t gold over 13.20 metres, at only 68 m vertical depth.
  • The new zone is shown in an image on the company's website. The new Hinge zone subzone was also tested to approximately 140 m vertical depth, where assays returned 20.41 g/t gold over 2.20 metres, within a wide interval of 2.07 g/t gold over 29.80 metres. Gold-bearing quartz veins are strongly developed adjacent to a newly defined sediment contact within the same high iron tholeiitic pillow basalt that hosts the original Hinge zone discovery.
  • Recent Dixie Limb drill results include 21.54 g/t gold over 2.35 metres within a broader interval of 9.68 g/t gold over 5.60 metres. Drilling continues to encounter high-grade gold intervals near the predicted intersections of Hinge zone-style gold-bearing veins with the Dixie Limb contact. Broad intervals of low to moderate gold grades are also present at all locations drilled.

             SUMMARY OF MOST RECENT DRILL RESULTS FROM THE HINGE ZONE  

Drill hole             From          To     Width*        Gold    Vertical depth
                        (m)         (m)        (m)       (g/t)               (m)

DHZ-050               63.00       78.75      15.75        6.28                68
including             64.00       77.20      13.20        7.40
and including         64.00       64.50       0.50        6.76
and including         68.15       68.65       0.50        4.20
and including         72.80       77.20       4.40       19.97
and including         72.80       76.60       3.80       22.27
and including         72.80       75.30       2.50       30.81
and including         73.80       75.30       1.50       46.49
DHZ-051               83.40       86.10       2.70        1.52                87
including             83.90       84.50       0.60        4.24
DHZ-052              100.50      102.00       1.50       14.04               105
and                  172.00      172.50       0.50        2.40               169
DHZ-053                       anomalous
DHZ-054              147.90      150.00       2.10        1.40               155
including            147.90      148.40       0.50        5.18
and                  189.60      190.90       1.30       11.19               193
including            189.60      190.20       0.60       23.34
and                  223.00      229.50       6.50        1.11               227
and                  299.50      303.00       3.50        1.04               296
including            300.00      300.50       0.50        4.07
DHZ-055               91.80       99.50       7.70        1.59               109
including             91.80       93.70       1.90        3.09
and including         98.80       99.50       0.70        4.14
DHZ-056                       anomalous
DHZ-057               52.10       52.80       0.70        5.72                62
DHZ-058                       anomalous
DHZ-059                       anomalous
DHZ-060              125.50      155.30      29.80        2.07               145
including            127.00      141.40      14.40        3.80
and including        139.20      141.40       2.20       20.41
and including        139.90      141.40       1.50       29.49
    
* Drill interval widths are 80 per cent of true width based on intersection 
points of the drill hole intercept with the geological model and 
oriented drill core data.
Drilling focused primarily on targeting a newly predicted 
high-grade gold control, leading to discovery of a new 
subzone along the Hinge zone vein swarm.

New gold controls at Hinge zone

The new high-grade gold subzone in the Hinge zone was discovered by modelling north-south-striking sediment units that intersect the east-west-striking Hinge zone vein swarm. While gold-bearing veins occur in every geological unit cut by the vein swarm (pillow basalts, sediments, ultramafics and other volcanics), the outer contacts of the sediments appear to have enhanced gold grades and gold-bearing vein development when adjacent to the high iron tholeiitic pillow basalts that host the majority of gold mineralization. These contacts provide another predictable steeply plunging structural intersection that was successfully targeted during the most recent gold discovery.

The Hinge zone vein swarm has been drilled along 550 metres of strike length to date and remains open in all directions. The Dixie greenstone belt underlies the projected trend of the Hinge zone vein swarm to the west for approximately five kilometres before being cut off by a granitic batholith. In addition to continuing stepout and step-down drilling within the Hinge zone, this projected vein trend will also to be tested during continuing drilling.

      SUMMARY OF THE MOST RECENT DIXIE LIMB DRILL RESULTS
  
Drill hole                From         To     Width*       Gold
                           (m)        (m)        (m)      (g/t)

DL-052                  261.00     279.20      18.20       3.51
including               272.55     278.15       5.60       9.68
and including           274.75     277.10       2.35      21.54
and including           274.75     275.25       0.50      72.08
and including           276.60     277.10       0.50      17.28
DL-053                  273.50     288.50      15.00       2.37
including               283.00     288.00       5.00       5.28
and including           283.00     286.50       3.50       6.02
DL-054                  234.40     243.00       8.60       1.54
and                     238.00     241.00       3.00       2.88
including               239.50     241.00       1.50       4.68
and including           240.50     241.00       0.50       8.53
DL-055                  257.50     272.20      14.70       0.90
including               267.00     269.90       2.90       2.47
and                     268.45     268.95       0.50       6.14
DL-056                  285.00     303.00      18.00       1.09
including               288.10     288.60       0.50       6.33
                        300.25     301.50       1.25       3.96
including               301.00     301.50       0.50       5.36
DL-057                  138.05     151.35      13.30       1.36
including               147.35     150.85       3.50       3.22
and including           147.35     148.85       1.50       5.38
DL-058                  170.40     180.80      10.40       1.82
including               178.30     179.30       1.00       6.70
and including           178.80     179.30       0.50       8.88
DL-059                   59.90      68.50       8.60       1.83
including                63.65      68.00       4.35       3.14
and including            66.10      68.00       1.90       4.94
and including            66.10      66.65       0.55      10.93
DL-060                   77.20      83.30       6.10       2.43
including                81.60      83.30       1.70       5.49
and                     330.00     335.15       5.15       1.10
including               331.20     331.70       0.50       5.32
and                     334.00     334.50       0.50       4.84
DL-061                  293.70     309.30      15.60       2.19
including               296.20     305.95       9.75       3.23
and including           296.20     297.70       1.50      17.34
and including           296.70     297.20       0.50      49.96
and                     505.50     507.00       1.50       2.06
DL-062                  322.50     324.00       1.50       3.80

* Drill interval widths are 80 per cent of true width based on 
intersection points of the drill hole intercept with the 
geological model and oriented drill core data.

Dixie Limb zone drill update

Recent drilling in the Dixie Limb zone has targeted both:

  1. Steeply plunging high-grade gold zones that are present at and near the predicted intersection of gold-bearing quartz veins parallel to the Hinge zone vein swarm with the geological contact between basalts and sediments that defines the Dixie Limb;
  2. Undrilled areas along the 600-metre strike length of the Dixie Limb that are required for comprehensive 3-D modelling of the overall zone. In these areas, silica-sulphide mineralization typical of the Dixie Limb generally contains low to moderate gold grades.

Drilling is expected to continue with the goals of defining and extending the Dixie Limb zone both along strike and at depth during the current drill campaign.

LP fault drill update

All three of the company's drills remain at various targets along the LP fault. To date, approximately three kilometres of the approximately 18-kilometre strike length of the fault system has been drill tested with widely spaced drill fences.

The company has organized a webinar to discuss recent drill program progress on Wednesday, Sept. 4, 2019, at 8 a.m. Pacific Daylight Time/11 a.m. Eastern Daylight Time. Participation details are provided in the company's Aug. 15 news release.

Great Bear continues to undertake a fully financed, 90,000-metre drill program that is expected to continue through 2019 and 2020. Targets tested will include the Hinge zone, Dixie Limb zone, Bear-Rimini zone, Yuma zone, LP fault, North fault and other targets across the property. In order to accelerate the program, a second drill rig was added in February, and a third drill rig arrived in June of 2019. Approximately 45,000 metres of drilling remain in the current program.

About Great Bear

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 through 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 Newmont Goldcorp Corp., plus modern infrastructure and a skilled work force. Production from the Red Lake district does not necessarily reflect the mineralization that may, or may not, be hosted on the company's Dixie property.

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 10 g/t 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, professiona geoscientist, director and vice-president of exploration, and Andrea Diakow, professional geoscientist, 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.

We seek Safe Harbor.

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