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

ORIGINAL: 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

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

TSX-V:  GBR

VANCOUVER, May 28, 2019 /PRNewswire/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported a significant new high-grade gold discovery, the "Bear-Rimini Zone", at its 100% owned Dixie Project in the Red Lake District of Ontario.  Highlighted assay results from discovery drill hole DNW-011 are provided in Table 1.

Table 1: Highlighted results from discovery drill hole DNW-011 into the Bear-Rimini Zone.

Drill Hole


From

(m)

To

(m)

Width*

(m)

Width

(ft)

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

*All widths are drill indicated core length as insufficient drilling has been completed to determine true width at this time.

 

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 as shown on Figure 1.

  • 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 provided in Table 2 at the end of this release.

  • The LP Fault is interpreted as a major gold mineralization control and hydrothermal fluid conduit during Archean age gold mineralization. The generally 1 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, as shown on Figure 2. 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 (Zeng and Calvert, 2006) where over 30,000,000 ounces of gold have been produced.

  • The LP Fault parallels highway 105, the main access corridor to Red Lake and is 1 to 3 kilometres from a powerline and paved road, and it is a 30 minute drive from the main Red Lake gold mine operated by Newmont Goldcorp Corp.

Chris Taylor, President and CEO of Great Bear said, "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 g/t gold over 0.5 metres.

  • A finer-scale map showing the location of the Bear-Rimini Zone, other gold zones and significant nearby drill intercepts into the LP Fault, with the location of the cross-section provided in this news release is provided in Figure 3.

  • A cross section through the LP Fault and adjacent lithologies is shown on Figure 4.

  • Gold in DNW-011 occurs as coarse to fine disseminations with minor accompanying sulphides as shown on Figure 5.

  • DNW-011 was drilled from north to south across the quartz sericite zone Great Bear had previously intersected in hole DNW-008 (see news release of May 7, 2019; 34.6 metres of 0.55 g/t 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:

  1. High-grade gold is hosted by strained coarse quartz crystal lapilli tuff units affected by pervasive silica alteration(the "Silicified Zone") to the north of the LP Fault.

  2. Anomalous to moderate gold grades are hosted by a "Quartz-Sericite Zone" within and 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%) of these drill holes encountered anomalous to moderate gold grades matching those observed in the Quartz-Sericite Zone in DNW-011 and DNW-008. Highlighted results are provided in Figure 3.

  • 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 (i.e. furthest north) had higher gold grades, including visible gold in drill core. Up to 80% of the total core length of some historical drill holes were never split and assayed by past explorers. Great Bear is currently re-logging 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.

A three-dimensional representation of Great Bear's model of gold mineralization at the Bear-Rimini discovery as it relates to the 18 kilometre strike length of the LP Fault and other gold zones is provided in Figure 6.

The Company continues to undertake a fully funded, 60,000 metre drill program that 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

Great Bear Resources Ltd. (TSX-V: GBR) is a well financed company based in Vancouver, Canada, managed by a team with a track record of success in the mineral exploration sector. Great Bear holds a 100% 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, Ontario.  The Red Lake mining district is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce.  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.  The Dixie property covers a drill and geophysically defined multi kilometre gold mineralized structure similar to that associated with other producing gold mines in the district.  In addition, Great Bear is also earning a 100% royalty-free interest in the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology.  All of Great Bear's Red Lake projects are accessible year-round through existing roads.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ontario, and Activation Laboratories in Ancaster Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Selected samples with visible gold are also analyzed with a standard 1 kg 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.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, 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.

ON BEHALF OF THE BOARD

"Chris Taylor"                                  

Chris Taylor, President and CEO

Drill 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 Dyke

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 Dyke

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 Dyke

0.05

DNW-011

52

53

Mafic Dyke

0.002

DNW-011

53

54

Mafic Dyke

0.006

DNW-011

54

55

Mafic Dyke

0.013

DNW-011

55

55.5

Mafic Dyke

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 Dyke

0.734

DNW-011

107.2

107.7

Mafic Dyke

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 Dyke

6.391

DNW-011

168.6

169.6

Felsic Tuff

0.141

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

© 2019 Canjex Publishing Ltd. All rights reserved.