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Great Bear Resources Ltd (3)
Symbol C : GBR
Shares Issued 41,098,231
Close 2019-08-30 C$ 6.78
Recent Sedar Documents

Great Bear drills 53.7 m of 4.2 g/t Au at Dixie

2019-09-03 12:41 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR DRILLS MULTIPLE GOLD DISCOVERIES ALONG 3.2 KM OF THE LP FAULT AT DIXIE: DRILLING AT NEW "AURO" ZONE, A 2.6 KM STEP-OUT FROM BEAR-RIMINI, INTERSECTS 101.71 G/T GOLD OVER 1.50 M WITHIN 42.00 M OF 5.28 G/T GOLD AT 80 M DEPTH; YUMA ZONE INTERCEPTS INCLUDE 27.77 G/T GOLD OVER 2.00 M WITHIN 11.08 G/T GOLD OVER 7.00 M

Great Bear Resources Ltd. has made multiple gold discoveries along 3.2 kilometres strike length of the approximately 18-kilometre-long LP fault target at its 100-per-cent-owned Dixie project in the Red Lake district of Ontario. Highlights of the new drill results include:

  • All drill holes that have intersected the LP fault to date have successfully intersected gold mineralization along 3.2 kilometres of strike length. The new high-grade Auro zone was drilled at a 2.6-kilometre stepout to the southeast of the Bear-Rimini Discovery area.
  • New high-grade gold intercepts include 101.70 grams per tonne (g/t) gold over 1.50 metres, within 10.65 g/t gold over 17.25 metres at the Auro zone, and 27.77 g/t gold over two metres within 11.08 g/t gold over seven metres in the Yuma zone.
  • Wide intervals of disseminated gold mineralization have been drilled, surrounding and adjacent to the high-grade intercepts, including 42.00 metres of 5.28 g/t gold in the Auro zone, 22.00 metres of 1.14 g/t gold in the Yuma zone and 40.80 metres of one g/t gold in the Bear-Rimini Discovery zone. These wide gold zones project to the near surface in all locations.
  • Gold mineralization at the Yuma zone has been extended from the near surface to 480 metres vertical depth and remains open to extension.
  • Fully financed with more than $18-million in cash, Great Bear plans to drill along approximately 18 kilometres of the strike length of the LP fault target between now and summer 2020.
  • Reconnaissance drilling will include up to one kilometre stepouts between drill sections, with more closely spaced follow-up drilling around any new gold discoveries that may be made.
  • Gold mineralization associated with the LP fault is not typical of the Red Lake district. Early observations suggest that gold is associated with a large-scale deformation zone near the contact between sediments and felsic volcanics. Accessory minerals include pyrite, sphalerite and galena with minor chalcopyrite and arsenopyrite. Elevated lead, silver and zinc values are observed within higher-grade gold intercepts.
  • The LP fault deformation zone is similar in character to other large gold-hosting deformation zones in Archean greenstone belts. Well-known Canadian examples include the Larder Lake Cadillac break that extends through Kirkland Lake and Val d'Or, the Porcupine Destor fault zone of the Timmins camp, the Detour Lake fault zone, the Pike fault in the Meliadine camp of Nunavut and the Cochenour-Gullrock deformation zone of the Red Lake mine complex.

Chris Taylor, president and chief executive officer of Great Bear, said: "Our first month of reconnaissance drilling along the LP fault has been highly successful. To place the scope of our program in context, the combined strike length of significant mine properties in the Red Lake district from the Starratt-Olsen deposit in the southwest, through the central Red Lake mine complex, to the Phoenix deposit in the north, is approximately 23 kilometres. This is roughly the same as the strike length as the LP fault target at Dixie. While the total extent of gold mineralization along the LP fault is unknown, we have now confirmed gold in all drill holes that intersected the fault along 3.2 kilometres and will continue aggressive stepout and step-down drilling until we find the system's limits. We plan to have drilled along most of the LP structure by this time next year and are already fully funded for this work."

John Robins, adviser to Great Bear, said, "Great Bear's recent discoveries south of Red Lake appear to have the hallmarks of an emerging district-scale gold camp."

A key observation from recent drilling along the LP fault is that the alteration zone within sedimentary and felsic volcanic rocks which hosts disseminated gold mineralization attains significant widths of up to up to 300 metres of core length where drilled to date. The mineralized system continues from the near surface to over 500 metres depth (the extent of current drilling) and is open to extension. This is shown on the drill sections in this news release.

Gold-bearing zones are in turn surrounded by broad halos of typically barren sericite alteration. This is also observed at other major Archean greenstone mesothermal/structural gold camps across Canada .

The LP fault gold mineralization system is clearly not typical of the Red Lake district. High-grade gold in quartz veins, hosted by mafic volcanic units, characterizes most of the major gold deposits in Red Lake and is also observed at Great Bear's Hinge and Dixie Limb gold discoveries, located less than one kilometre from the LP fault.

New Auro zone discovery -- section 20075:

  • The Auro zone is located at a 2.6-kilometre stepout southeast of the Bear-Rimini discovery and 1.2 kilometres southeast of the Yuma zone along the LP fault. Highlights include 10.65 g/t gold over 17.25 metres.
  • The Auro zone is located less than one kilometre to the northeast of the Dixie Limb and Hinge zones.
  • Previously, Great Bear described the Auro zone as the DNE target area and historical drill intercepts within the LP fault at this location include 24.6 metres of 0.86 g/t gold. Historical drill holes were located less than 100 metres from Great Bear's new high-grade discovery.
  • Various gold intervals were intersected along 307 metres of core length in discovery drill hole BR-020. Gold mineralization projects to within metres of surface, below shallow gravel cover.
  • The same geological units were intersected at the Auro zone as at the Yuma and Bear-Rimini Discovery zones, showing apparent continuity of the host stratigraphy and structures along the 3.2 kilometres of strike extent of the LP fault tested to date. Gold was intersected at the predicted geological contact, as had occurred at the Bear-Rimini and Yuma zones.

      ASSAY INTERVALS FROM AURO ZONE DISCOVERY HOLE BR-020
  
Drill hole           From       To    Width        Gold    Section
                       (m)      (m)      (m)       (g/t)

BR-020              38.00    77.55    39.55        0.26      20075
                    81.00   134.70    53.70        4.20           
Including           90.00   132.00    42.00        5.28           
And including       90.75   108.00    17.25       10.65           
And including       90.75    94.00     3.25       48.08           
And including       90.75    92.25     1.50      101.71          
And including      125.20   128.70     3.50        9.08           
And                344.20   346.00     1.80        2.37           
Including          344.20   345.00     0.80        5.13           

New Yuma zone discoveries -- section 20950:

  • The Yuma zone is located at a 1.4-kilometre stepout southeast of the Bear-Rimini discovery along the LP fault.
  • The Yuma zone is located less than one kilometre to the northeast of the Dixie Limb and Hinge zones.
  • Results from discovery hole DC-12-07 were previously disclosed on July 16, 2019, and included two metres of 10.57 g/t gold in previously unsampled drill core. Great Bear extended historical drill hole DL-03-10 and encountered a wide zone of high-grade gold at the predicted location in the footwall of the LP fault, less than 100 metres from the historical end of the drill hole.
  • Four drill holes were completed on two sections spaced 50 metres apart at Yuma, all of which intersected the predicted geological contacts and associated gold mineralization.
  • Results include 12.50 metres of 6.26 g/t gold, which includes two metres of 27.77 g/t gold.
  • Follow-up drilling shows apparent continuity of mineralization from the near surface to depths of 480 vertical metres, which remains open to extension.
  • high-grade visible gold mineralization was intersected at 480 vertical metres depth. Multiple gold zones were intersected in most drill holes.
  • The same geological units were intersected at the Bear-Rimini, Yuma and the new Auro Discovery zones.

         NEWLY DISCLOSED ASSAY INTERVALS FROM THE YUMA ZONE
  
Drill hole              From        To     Width        Gold   Section
                          (m)       (m)       (m)       (g/t)

BR-005                 66.00     88.00     22.00        1.14     21000 
Including              82.00     88.00      6.00        3.85           
And including          82.00     85.90      3.90        5.74           
And including          84.00     85.90      1.90       10.48           
And including          85.00     85.90      0.90       17.28           
                      179.30    184.80      5.50        3.95           
                      179.30    183.30      4.00        5.39           
Including             180.30    183.30      3.00        7.10           
And including         182.30    183.30      1.00       14.81           
And including         182.30    182.80      0.50       23.15           
BR-006                 57.20     62.00      4.80        1.16     20950 
Including              58.20     60.70      2.50        2.05           
And                    87.00     92.00      5.00        0.53           
And                   179.00    204.50     25.50        0.30           
Including             196.00    197.00      1.00        3.83           
BR-007                454.30    461.25      6.95        1.49     20950 
Including             458.75    460.75      2.00        3.60           
And including         458.75    459.25      0.50        8.18           
                      500.80    530.65     29.85        0.35           
And                   554.50    568.40     13.90        1.12           
Including             554.50    556.85      2.35        2.75           
And including         555.20    556.20      1.00        6.19           
And including         555.20    555.70      0.50        9.88           
And including         566.05       567      0.95        5.76           
And                   624.10    625.75      1.65       14.13           
Including             624.10    625.10      1.00       22.76           
And including         624.10    624.60      0.50       35.65           
DL-03-10              283.00    295.50     12.50        6.26     20950 
Including             288.50    295.50      7.00       11.08           
And including         289.50    291.00      1.50       13.80           
And including         293.00    295.00      2.00       27.77           
And including         294.00    295.00      1.00       47.39           
And including         294.00    294.50      0.50       82.30           

New Bear-Rimini discoveries -- sections 22375 and 22325:

  • Two shallow drill sections were completed in the area of Bear-Rimini Discovery hole DNW-011, which was previously disclosed on May 28, 2019. DNW-011 intersected two metres of 194.21 g/t gold, 14.30 metres of 12.33 g/t gold and 50.60 metres of 0.74 g/t gold.
  • New drilling discovered wide zones of disseminated gold, projecting to the near surface, surrounding the high-grade gold zones of DNW-011.
  • The mineralized system generally appears to project to the southeast, toward the Yuma zone, 1.4 kilometres to the southeast. Continuity between the two zones will be tested during upcoming drilling. Follow-up drilling is required to further delineate the high-grade zones.
  • The company sent core samples to Panterra Geoservices Inc. of Surrey, B.C., for petrographic (thin section) analysis, in order to help characterize the gold system. The samples were also sent for additional whole-rock geochemical analysis by XRF.
  • Petrographic analysis suggests disseminated high-grade gold mineralization appears to be associated with steeply plunging transposed quartz veins or stockworks. These have been highly affected by deformation within the LP fault zone, including alignment of gold within and adjacent to deformation zones. This structural preparation has provided predictable zone geometries that Great Bear has successfully targeted along the LP fault.
  • The rocks preserve the transition from upper greenschist to amphibolite grade peak metamorphism, which is consistent with brittle ductile transitional strain conditions that facilitate structural/mesothermal gold deposition in most gold districts of this type.
  • Petrographic analysis also confirmed the presence of highly altered, albitized sediments proximal to the LP fault. These sediments provide a marker unit which identifies the transition from mafic to felsic volcanic rocks and also defines a drill-confirmed control of gold mineralization at and near the contact between these sediments and silicified, albitized felsic volcanic rocks.

Whole rock (XRF) analysis provided a multielement dataset that also helped identify key felsic stratigraphic sequences which are the preferred host rocks for gold mineralization along the LP fault. These rocks are chemically and visually distinct and, together with oriented core data and three-dimensional magnetic susceptibility modelling, the company is successfully targeting higher-grade zones within the mineralized envelopes.

Drilling at the Bear-Rimini Discovery zone is currently too shallow to adequately test plunge models for high-grade zones and will be extended both along strike and depth as the drill program proceeds.

            DRILL INTERVAL HIGHLIGHTS FROM DRILLING
               OF THE BEAR-RIMINI DISCOVERY ZONE

Drill hole           From       To     Width        Gold   Section
                       (m)      (m)       (m)       (g/t)

DNW-008              8.00    42.60     34.60        0.55     22375 
DNW-011             72.50    93.00     20.50        8.48           
And                 98.00    169.6     71.60        0.60           
BR-001              81.50    94.75     13.25        0.47           
And                195.00   206.35     11.35        0.71           
And                213.00   223.50     10.50        0.68           
And                210.15   270.55     78.55        0.45           
BR-002              64.55    96.50     31.95        0.35           
Including           73.00    80.00      7.00        0.68           
And including       73.00    73.50      0.50        3.22           
And including       79.50    80.00      0.50        4.61           
And                177.00   182.90      5.90        0.68           
BR-003              34.00    37.50      3.50        1.21           
Including           37.00    37.50      0.50        5.74           
                   119.00   212.05     93.05        0.53           
Including          119.00   132.50     13.50        0.75           
And including      167.60   212.05     44.45        0.74           
And including      170.45   187.20     16.75        1.04           
BR-004              62.50   104.00     41.50        0.47     22325 
                    82.50    93.00     10.50        1.03           
Including           86.10    87.00      0.90        4.13           
And including       86.10    90.70      4.60        1.69           
And including       90.20    90.70      0.50        7.75           
And                109.00    118.5      9.50        0.76           
Including          114.00   118.50      4.50        1.46           
And including      118.00   118.50      0.50        3.94           
And including      164.70   205.50     40.80        1.00           
Including          188.00   189.00      1.00        8.11           
And including      191.00   191.50      0.50        5.45           

Northwest drill test -- section 22325:

  • Two drill holes were completed 575 metres to the northwest of the Bear-Rimini Discovery area. Drilling intersected four zones of low-grade and anomalous gold mineralization in drill hole BR-008.
  • While the gold mineralized system clearly continues into this area, the main target marker unit was not intersected.
  • Alternating mafic and felsic units were intersected in this area in an arrangement not seen in other locations drilled along the LP fault. The units may be complexly infolded, or the LP fault may contain tectonic delaminations of the surrounding units, including the hanging wall mafic lithologies.
  • More drilling is required in order to locate the key marker unit and further evaluate the gold potential of the area.
  • Follow-up drilling will be undertaken both between this section and the Bear-Rimini Discovery area and farther to the northwest along the LP fault as the drill program proceeds.

            DRILL RESULTS FROM 575 METRE
          STEP-OUT NORTHWEST OF BEAR-RIMINI
  
Drill hole          From       To     Width        Gold
                      (m)      (m)       (m)       (g/t)

BR-008             87.50    88.00      0.50        0.72    
And               115.40   116.55      1.15        1.08    
BR-008            221.50   224.50      3.00        1.09    
And               265.30   289.30     24.00        0.20    
Including         274.00   279.50      5.50        0.50    
BR-009                            No significant values               

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, Auro zone, LP fault, North fault and other targets across the property. In order to accelerate the program, a second drill rig was added in and a third drill rig arrived in June, 2019. Approximately 40,000 metres of drilling remain in the current program.

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 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.

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 Ontario, 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 10.0 g/t gold are analyzed utilizing standard fire assay-gravimetric methods. Pulps from approximately 5 per cent of the gold mineralized samples are submitted for check analysis to a second lab. Selected samples are also chosen for duplicate assay from the coarse reject of the original sample. 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 (QAQC). No QAQC issues were noted with the results reported herein.

R. Bob Singh, professional geoscientist, director and vice-president of exploration and Andrea Diakow, professional geologist, 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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