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Great Bear Resources Ltd (3)
Symbol GBR
Shares Issued 45,749,549
Close 2020-02-13 C$ 8.88
Recent Sedar Documents

Great Bear drills 21 m of 10.58 g/t Au at Dixie

2020-02-13 08:27 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR DRILLS 10.58 G/T GOLD OVER 21.00 M; INITIATES 5 KILOMETRE GRID DRILL PROGRAM AT LP FAULT; MOBILIZES FIFTH DRILL RIG

Great Bear Resources Ltd. has provided new developments from its fully financed $21-million exploration program at its 100-per-cent-owned flagship Dixie project in the Red Lake district of Ontario.

The company has completed a successful first pass 4.2-kilometre drill test of the LP fault. All (100 per cent) of 59 drill holes on 50- to 250-metre spacings have successfully intersected gold mineralization. A continuously mineralized zone is now interpreted, the LP fault zone, which remains open both along strike and at depth. Previously disclosed LP fault zone names (Bear-Rimini, Gap, Yuma, Yauro, Auro and Viggo) will no longer be used in Great Bear's news releases. Results will be provided by drill section on a go-forward basis.

Great Bear is now undertaking a systematic grid drill program testing a 2.5-square-kilometre panel of the LP fault (five kilometres horizontally by 500 metres vertically from surface). Drill spacing will initially average 100 metres along strike and 75 metres vertically. Additional drilling below 500 metres is also being undertaken. Up to 300 additional drill holes are required to complete this panel during 2020 and the company is fully financed for this work. Four drill rigs are currently deployed along the LP fault and a fifth drill rig will be used to continue concurrent regional exploration, including further LP fault stepouts.

Highlights of current results include:

  • Drill hole BR-068 intersected 10.58 grams per tonne gold over 21.00 metres, including 48.98 g/t gold over 3.25 metres on drill Section 20750. Results demonstrate apparent continuity of gold mineralization from surface to 305-metre vertical depth, and increasing gold grades and interval widths with increasing depth. BR-068 is located 1.8 kilometres southeast of the LP fault discovery hole DNW-011.
  • Drill hole BR-067 was completed on drill Section 20600, located 150 metres to the southeast of drill Section 20750, and intersected 10.95 g/t gold over 6.00 metres. Results demonstrate apparent continuity of high-grade gold mineralization over 400 vertical metres and apparent continuity across the 150-metre distance to drill Section 20750. Gold was intersected to 550-metre vertical depth.
  • Drill hole BR-057, which is the second-most southeasterly hole intersecting the LP fault to date, returned 7.35 g/t gold over 3.50 metres, including 38.03 g/t gold over 0.50 metre on drill Section 18750. This hole is located approximately 4.2 kilometres southeast of LP fault discovery hole DNW-011, and 1.85 kilometres southeast of drill Section 20600.
  • Similar geology, structural controls and gold mineralization are present in all areas along the 4.2 kilometres of the LP drilled to date.

Chris Taylor, president and chief executive officer of Great Bear, said: "We now interpret a continuous gold-mineralized zone along more than four kilometres of strike length of the LP fault, which remains open to extension. Assay results, geology and oriented structural data suggest the zone hosts steeply dipping 'sheets' of disseminated high-grade gold mineralization with significant strike length and vertical extent. More detailed drilling is required to accurately delineate the geometries of these high-grade 'sheets' and the boundaries of the surrounding mineralized envelope. While the total LP fault target is many times larger (Zeng and Calvert, 2006; 14 kilometres deep and over 20 kilometres in length based on seismic data), we've selected a 2.5-square-kilometre section, five kilometres long by 500 metres deep, for grid drilling during 2020. This will help characterize the gold mineralized system in preparation for more advanced studies in 2021 and has the potential to unlock significant potential additional value for our shareholders. We will also continue propertywide drill testing of new targets, including further stepouts on the LP fault."

              MOST RECENT RESULTS FROM DRILLING OF THE LP FAULT
  
Drill hole        From (m)     To (m)     Width* (m)    Gold (g/t)   Section

BR-023             490.00      495.00          5.00          0.52      20200
BR-033             390.15      408.60         18.45          0.26      21800
and                427.50      431.00          3.50          1.05
and                442.05      452.00          9.95          0.57
including          449.30      451.50          2.20          2.00
BR-050             267.90      274.00          6.10          1.25      18900
including          271.00      271.50          0.50          4.95
BR-051             451.00      456.50          5.50          4.00      18900
including          455.50      456.50          1.00         12.91
and including      456.00      456.50          0.50         25.13
BR-057             222.80      238.15         15.35          2.09      18750
including          232.00      235.50          3.50          7.35
and including      232.50      233.00          0.50         38.03
BR-058             140.00      145.50          5.50          0.60      18550
and                166.15      168.20          2.05          4.20
BR-059             484.50      488.50          4.00          1.14      18550
BR-061              15.00       23.00          8.00          0.53      19750
and                 28.00       29.70          1.70          2.29
and                107.00      113.00          6.00          0.46
and                165.00      170.00          5.00          0.61
and                270.90      273.00          2.10          1.01
and                366.00      370.50          4.50          0.54
BR-062             197.00      206.00          9.00          0.46      19750
and                256.00      264.00          8.00          1.09
and                272.00      274.00          2.00          2.11
and                404.95      407.00          2.05          1.11
BR-063             149.00      154.00          5.00          0.49      19550
and                348.00      351.00          3.00          0.93
BR-064             271.00      279.20          8.20          2.46      19550
including          277.30      278.70          1.40         13.50
and                481.50      484.40          2.90          1.20
BR-066             299.40      340.50         41.10          0.72      20400
including          299.40      311.00         11.60          1.11
and                516.00      519.00          3.00          1.72
and                531.50      557.10         25.60          0.28
BR-067             259.00      280.50         21.50          0.53      20600
and                296.00      317.00         21.00          3.35
including          310.00      316.00          6.00         10.95
and including      311.50      314.00          2.50         19.38
and                321.00      393.00         72.00          0.53
and                411.00      449.00         38.00          0.22
and                573.40      584.80         11.40          0.68
and                678.40      716.30         37.90          0.35
BR-068             355.40      382.00         26.60          8.45      20750
including          357.90      379.00         21.10         10.58
and including      357.90      360.65          2.75         16.74
and including      370.00      375.10          5.10         33.30
and including      370.00      373.25          3.25         48.98
and including      372.75      373.25          0.50        195.00
and                406.30      437.70         31.40          1.07
and including      416.20      424.20          8.00          3.24
and                450.65      452.00          1.35         10.99
      
* Widths are drill indicated core length, as insufficient drilling has been 
  undertaken to determine true widths at this time. Average grades are 
  calculated with uncapped gold assays, as insufficient drilling has been 
  completed to determine capping levels for higher grade gold intercepts. Average 
  widths are calculated using a 0.10 g/t gold cut-off grade with less than three m 
  of internal dilution of zero grade.
  
  

In order to place significant previously disclosed drill results in spatial context, an attached table provides section location information for 20 previously disclosed drill holes with highlighted gold intercepts.

The company will post a complete table of all disclosed drill holes with highlighted intervals from the LP fault including section information, drill collar locations, azimuths and dips on the company's website.

HIGHLIGHTED INTERVALS FROM 20 PREVIOUSLY RELEASED DRILL HOLES ALONG THE LP FAULT, 
              WITH SECTION LOCATION NUMBERS INCLUDED FOR REFERENCE
  
Drill hole                   From (m)  To (m)   Width* (m)  Gold (g/t)   Section

BR-003                        119.00  212.05        93.05        0.53      22375
BR-004                        164.70  205.50        40.80        1.00      22375
BR-012                and     208.00  288.00        80.00        0.60      22375
BR-018                        270.20  314.60        44.40        1.05      22250
BR-019                        119.00  167.90        48.90        0.73      22250
BR-020                         81.00  134.70        53.70        4.20      20100
BR-020          including      90.00  132.00        42.00        5.28
BR-020      and including      90.75  108.00        17.25       10.65
BR-020      and including      90.75   94.00         3.25       48.08
BR-020      and including      90.75   92.25         1.50      101.71
BR-021                         70.00   77.00         7.00        6.21      20250
BR-021          including      70.00   71.00         1.00       42.72
BR-022                        461.60  512.00        50.40        1.78
BR-022          including     471.00  512.00        41.00        2.09
BR-022      and including     505.20  508.75         3.55       14.90
BR-022      and including     506.20  506.70         0.50      100.48
BR-035                        234.50  273.00        38.50        1.77      20750
BR-035          including     244.50  270.50        26.00        2.55
BR-035      and including     261.00  270.50         9.50        6.02
BR-035      and including     268.00  270.50         2.50       15.02
BR-035                and     289.70  345.80        56.10        1.26
BR-035      and including     340.50  345.80         5.30        9.20
BR-036                         55.60   93.00        37.40        5.14      20600
BR-036          including      58.80   77.00        18.20       10.32
BR-036      and including      63.30   66.60         3.30       21.33
BR-036      and including      71.85   76.00         4.15       22.74
BR-036      and including      71.85   74.50         2.65       32.00
BR-037                         68.50   74.50         6.00       16.60      20600
BR-037          including      68.50   70.80         2.30       28.61
BR-037                and      86.00  152.20        66.20        2.01
BR-037          including      89.97   91.70         1.73       35.96
BR-037      and including      89.97   90.47         0.50      111.84
BR-037                and     189.00  214.25        25.25        5.60
BR-037      and including     206.15  214.25         8.10       13.73
BR-037      and including     206.65  210.10         3.45       30.66
BR-037      and including     206.65  208.25         1.60       59.05
BR-040                        360.50  432.10        71.60        1.39      22250
BR-040          including     401.30  422.00        20.70        2.22
BR-041                and      72.60  146.60        74.00        0.67      21950
BR-042                        217.70  259.50        41.80        1.13      21950
BR-042                and     264.60  302.55        37.95        1.13
BR-043                        318.50  443.90       125.40        1.08      21950
BR-043          including     348.00  437.80       189.80        1.31
BR-045                        287.45  323.00        35.55        1.05
BR-060                        284.00  333.00        49.00        1.74
BR-060          including     295.00  311.00        16.00        3.82      20100
BR-060      and including     302.00  311.00         9.00        6.30
BR-060      and including     306.70  311.00         4.30       11.95
BR-065                and     251.60  260.30         8.70       48.67      19950
BR-065          including     252.55  256.90         4.35       97.00
BR-065      and including     252.55  256.30         3.75      112.15
BR-065      and including     253.60  254.80         1.20      241.88
BR-075                         55.00   59.15         4.15       16.80      21150
BR-075                and     125.25  170.80        45.55        1.25
BR-075          including     132.25  151.50        19.25        2.05
DNW-011                        58.00   60.00         2.00      194.21      22375
DNW-011         including      58.00   58.50         0.50      759.38
DNW-011                        72.50   93.00        20.50        8.48
DNW-011         including      75.00   89.00        14.00       12.33
DNW-011     and including      75.95   80.55         4.60       19.33
DNW-011     and including      78.45   80.55         2.10       60.27
DNW-011     and including      78.45   79.55         1.10       98.78
DNW-011     and including      78.95   79.55         0.60      130.97
DNW-011               and      98.00  169.60        71.60        0.60
DNW-011         including     119.00  169.60        50.60        0.74

* Widths are drill indicated core length, as insufficient drilling has been undertaken 
  to determine true widths at this time. Average grades are calculated with uncapped 
  gold assays, as insufficient drilling has been completed to determine capping levels 
  for higher-grade gold intercepts. Average widths are calculated using a 0.10 g/t gold 
  cut-off grade with less than three m of internal dilution of zero grade.
  

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 and Hinge). 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-kilometre 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 Northwest Ontario, where the company controls over 300 square km of highly prospective tenure across four 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) and the Sobel property (earning a 100-per-cent interest), all of which are accessible year-round through existing roads.

Quality assurance/quality control 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 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 analysed 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 (QA/QC). No QA/QC issues were noted with the results reported herein.

Qualified person and National Instrument 43-101 disclosure

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