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Great Bear Resources Ltd (3)
Symbol GBR
Shares Issued 52,996,358
Close 2021-04-07 C$ 15.72
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Great Bear Resources adds sixth drill to Dixie

2021-04-07 09:51 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR ADDS SIXTH DRILL AT DIXIE

Great Bear Resources Ltd. has provided an update on its continuing fully financed $45-million 2021 exploration program at its 100-per-cent-owned flagship Dixie project in the Red Lake district of Ontario.

Great Bear is pleased to announce the arrival of a sixth drill rig at the Dixie project. The sixth rig is being added to accelerate the 2021 drill program, and along with the other five drills will continue to both infill and expand on the three main gold zones including the Hinge, Dixie Limb and LP fault zones.

The company's primary focus remains infill and expansion drilling of the LP fault zone at 25-metre to 75-metre centres. However, there remain large undrilled gaps of 100 to 400 metres between existing drill holes in several areas of the LP fault, and within the other Dixie project gold zones where stepout and step-down drilling have already successfully expanded the zones, all of which remain open to extension. Upcoming drill activities are outlined below.

LP fault zone:

  • Stepout drilling to depths of approximately 800 vertical metres from surface (see news release of March 29, 2021) is planned along up to four kilometres of strike length of the LP fault zone. This follows the recent successful doubling of the zone's known vertical extent with three deep drill holes completed along a 500-metre-strike-length segment.
  • Drill hole BR-260 (see news release dated March 29, 2021) intersected 15.57 grams per tonne gold over 3.05 metres in the LP fault zone, 790 metres vertically below the surface and approximately 400 metres down-plunge from the nearest hole. The intervening 400-metre gap requires follow-up drilling for this and the other two recent deep drill holes.
  • Approximately 1.2 kilometres of strike length of the southeast portion of the LP fault zone has only been drilled on 150 to 200 centres to date and will require infill work (see news release of Feb. 13, 2020).

Hinge zone:

  • Drill hole BR-036 (see news release dated Dec. 9, 2020) intersected 15.18 g/t gold over 4.90 metres in the deepest Hinge zone hole, 850 metres vertically below the surface and 510 metres down-plunge from the nearest hole. The intervening 510-metre gap in drilling requires follow-up.

Dixie Limb zone:

  • Drill hole BR-085 (see news release dated May 11, 2020) intersected 10.19 g/t gold over 19 metres in the deepest Dixie Limb zone hole, 740 metres vertically below the surface and 380 metres down-plunge from the nearest hole. The intervening 380-metre gap in drilling requires follow-up, as does the along strike projection of the zone at depth.

Regional drilling:

  • Regional targets such as the Arrow zone (see news release of June 18, 2020) have seen limited follow-up work and will require additional drilling.

Great Bear's progress can be followed using the company's plan maps, long sections and cross-sections, and through the Vrify model posted at the company's website, which will next be updated in Q2 2021. All LP fault drill hole highlighted assays, plus drill collar locations and orientations, can also be downloaded at the company's website.

About the Dixie project

The Dixie project is 100 per cent owned, comprising 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ont. The project is accessible year-round via a 15-minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.

The Dixie project hosts two principal styles of gold mineralization:

  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). Hosted by mafic volcanic rocks and localized near regional-scale D2 fold axes. These mineralization styles are also typical of the significant mined deposits of the Red Lake district.
  • High-grade disseminated gold with broad moderate-to-lower-grade envelopes (LP fault). The LP fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. High-grade gold mineralization is controlled by structural and geological contacts, and moderate-to-lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.

About Great Bear Resources Ltd.

Great Bear Resources is a well-financed gold exploration company managed by a team with a record of success in mineral exploration. Great Bear is focused in the prolific Red Lake gold district in Northwestern Ontario, where the company controls over 330 square kilometres of highly prospective tenure across five projects: the flagship Dixie project (100 per cent owned), the Pakwash property (earning a 100-per-cent interest), the Dedee property (earning a 100-per-cent interest), the Sobel property (earning a 100-per-cent interest) and the Red Lake North property (earning a 100-per-cent interest), all of which are accessible year-round through existing roads.

QA/QC and core sampling protocols

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 Activation Laboratories in Ontario, an accredited mineral analysis laboratory, 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. No QA/QC issues were noted with the results reported herein.

Qualified person and National Instrument 43-101 disclosure

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

We seek Safe Harbor.

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