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Great Bear Resources Ltd (3)
Symbol GBR
Shares Issued 57,838,858
Close 2021-09-09 C$ 14.81
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Great Bear reviews drilling to date at Auro2

2021-09-09 10:39 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR PROVIDES COMPLETE ASSAYS FROM CENTRAL LP FAULT "AURO2" HIGH-GRADE GOLD DOMAIN AND UPDATE ON GEOLOGICAL MODELLING

Great Bear Resources Ltd. has provided an update on geological modelling and detailed assay results from one of 23 high-grade gold domains being modelled within the LP fault zone at its 100-per-cent-owned flagship Dixie project in the Red Lake district of Ontario.

Chris Taylor, president and chief executive officer of Great Bear, said: "We continue to model 23 high-grade domains along four kilometres of the LP fault. These domains typically have predictable planar or sheet-like geometries due to their development at large-scale geological contacts and discrete structural corridors marked by a penetrative foliation fabric. Today, we provide detailed results from the Auro2 domain, which is present from bedrock surface near the centre of the LP fault zone and remains open at depth. We provide every in-zone assay from all (100 per cent) of the 58 drill holes that have intersected the domain to date. Results are shown in the figures and table in this release and can also be downloaded from our website."

Key points of this release:

  • The Auro2 domain begins at bedrock surface, follows a highly consistent, steeply dipping geological contact between metasedimentary and felsic volcanic rocks, and is situated near the centre of the LP fault zone. It has been drilled from bedrock surface to over 450 metres depth and remains open to extension.
  • All composite intervals defining the Auro2 high-grade domain are provided in the attached table.
  • All individual assay results comprising the composite intervals can be downloaded from the company's website.
  • Note that additional gold intervals from adjacent high-grade and bulk-tonnage gold domains that were also intersected by the drill holes reported in this release are not included in the attached table and represent additional gold mineralization to that reported here.

Three additional high-grade domains have been reported to date by Great Bear: BR7 on May 19, 2021, and BR1 and Auro20 on June 3, 2021. The company will continue to release detailed high-grade domain results as LP fault zone modelling progresses.

About the Dixie project

The 100-per-cent-owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction. Proximal to major infrastructure near the town of Red Lake, Ont., the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines. The property also hosts a network of well-maintained logging roads which facilitate access.

The 23 high-grade domains discussed in this release are structurally and geologically distinctive from the surrounding lower-grade, bulk-tonnage-style gold mineralization. Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower-grade domains. They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and transition from upper greenschist to lower amphibolite facies metamorphism. Gold in the high-grade domains is generally observed as free gold, is often transposed into and overgrows the dominant structural fabrics, and is higher grade on average than the surrounding bulk-tonnage gold zones.

To date, Great Bear has completed a total of 630 drill holes (283,000 metres), identifying three high-grade gold discoveries. The most significant discovery is the large-scale LP fault zone, which comprises high-grade disseminated gold mineralization within broad moderate-grade to lower-grade envelopes in felsic volcanic and sediment units. LP fault drilling has identified gold mineralization along 11 kilometres of strike length to date and a detailed drill grid is being completed along approximately four kilometres of strike length. The nearby Hinge and Limb gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units. Over 80 per cent of the company's drill holes into the LP fault, Dixie Limb and Hinge zones contain visible gold mineralization. Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.

Great Bear adheres to industry-leading quality assurance/quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP fault drill hole data are available on the company's website.

About Great Bear Resources Ltd.

Great Bear Resources is a Vancouver-based gold exploration company focused on advancing its 100-per-cent-owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently under way to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets. The company is currently in the process of compiling all historical data, together with incoming assay results, with the goal of publishing an initial National Instrument 43-101 compliant multimillion-ounce mineral resource estimate for the Dixie project in early 2022.

Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.

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-atomic absorption techniques. Samples returning over 10.0 grams per tonne (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 QA/QC. No QA/QC issues were noted with the results reported herein.

Qualified persons and National Instrument 43-101 disclosure

R. Bob Singh, PGeo, vice-president of exploration, and Andrea Diakow, PGeo, vice-president of projects 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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