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Great Bear Resources Ltd (3)
Symbol GBR
Shares Issued 52,996,358
Close 2021-01-12 C$ 14.62
Recent Sedar Documents

Great Bear drills 11 m of 16.56 g/t Au at Dixie

2021-01-13 07:51 ET - News Release

Mr. Chris Taylor reports

GREAT BEAR DRILLS MULTIPLE SHALLOW HIGH-GRADE GOLD INTERCEPTS AT LP FAULT INCLUDING 16.56 G/T GOLD OVER 11.00 M; PROVIDES HIGHER-DENSITY DRILL RESULTS AND UPDATED DRILL SECTIONS

Great Bear Resources Ltd. has provided results from its continuing $25-million fully financed 2021 exploration program at its 100-per-cent-owned flagship Dixie project in the Red Lake district of Ontario.

This news release provides results from 22 additional LP fault drill holes over 1.2 kilometres of strike length on 13 drill sections. Great Bear has now published results from 220 LP fault drill holes and anticipates up to 400 LP fault drill holes will be completed by the end of 2021. See attached table.

The company also provides new, detailed drill sections in this release, informed by higher density drilling.

Chris Taylor, president and chief executive officer of Great Bear, said: "We recently drilled a test panel of 15 densely spaced holes on 25- to 50-metre centres along 100 metres of strike length at the LP fault to a depth of over 450 vertical metres. We were very pleased to observe the same continuity of high-grade and bulk-tonnage gold mineralization at the finer scale as we had previously seen with more widely spaced drilling."

Shallow high-grade results

Great Bear continues to intersect significant widths of high-grade gold mineralization. New shallow high-grade drill results between bedrock surface and approximately 150-vertical-metre depth include:

  • 16.56 grams per tonne gold over 11.00 metres from 162.50 to 173.50 metres in drill hole BR-196 on drill Section 21100:
    • This included a high-grade core of 32.90 g/t gold over 3.10 metres from 162.50 to 165.60 metres.
  • 20.24 g/t gold over 7.35 metres from 163.50 to 170.85 metres in drill hole BR-201 on drill Section 19950 (1,150 metres southeast of the previous section within the same zone):
    • This included a high-grade core of 211.00 g/t gold over 0.50 metre from 165.00 to 165.50 metres.
  • 25.36 g/t gold over 4.65 metres from 139.35 to 144.00 metres in drill hole BR-206 on drill Section 20200 (900 metres southeast of the Section 21100 within the same zone).
    • This included a high-grade core of 151.00 g/t gold over 0.50 metre from 140.65 to 141.25 metres. The entire mineralized interval in BR-206 was 5.06 g/t gold over 25.10 metres from 129.40 to 154.50 metres.
  • 18.45 g/t gold over 4.90 metres from bedrock surface (27.10 to 32.00 metres) in drill hole BR-203 on drill Section 20200 (also 900 metres southeast of Section 21100 within the same zone);
  • 17.11 g/t gold over 5.00 metres from 83.10 to 88.10 metres in drill hole BR-204 on drill Section 20150 (950 metres southeast of Section 21100 within the same zone).

An updated long section showing the number of drill holes completed within each segment along 4.2 kilometres of the central LP fault gold zone is provided in a figure available on-line. All 211 drill holes completed on this long section have successfully intersected gold mineralization.

High-density drill panel 100 m by 450 m

Great Bear is completing systematic high-density drilling along the LP fault, including continuing stepdowns which continue to expand the mineralized zone at depth. Fifteen closely spaced drill holes on sections located 25 to 50 metres apart were completed along 100 metres of strike length on drill Sections 20100 to 20200 at depths from bedrock surface to approximately 450 vertical metres.

High-grade and bulk-tonnage-style gold intercepts were intersected at all sections and depths and demonstrate excellent continuity of the mineralized zone on these tight drill spacings. Results include:

  • 1.34 g/t gold over 29.45 metres from bedrock surface (18.00 to 47.45 metres) in drill hole BR-209 on drill Section 20100;
  • 1.31 g/t gold over 65.95 metres from 57.05 metres to 123.00 metres in drill hole BR-202 on drill Section 20125 (25 metres from previous):
    • This included a high-grade core of 8.48 g/t gold over 4.70 metres from 71.80 to 76.50 metres.
  • 3.24 g/t gold over 19.00 metres from bedrock surface (23.00 to 42.00 metres) in drill hole BR-204 on drill Section 20150 (25 metres from previous):
    • A separate shallow high-grade interval of 17.11 g/t gold over 5.00 metres was also intersected from 83.10 to 88.10 metres as disclosed in the shallow high-grade results at the start of this release.
  • 1.19 g/t gold over 34.85 metres from bedrock surface (22.15 metres to 57.00 metres) in drill hole BR-208 on drill section 20150 (same section as previous):
    • This included a high-grade core of 10.67 g/t gold over 1.70 metres from 23.30 to 25.00 metres.
  • 1.04 g/t gold over 46.60 metres from 417.00 to 463.60 metres in drill hole BR-221 on drill Section 20150 (same section as previous):
    • This included a moderate-grade core of 3.21 g/t gold over 7.80 metres from 443.00 to 450.80 metres.
  • Drill hole BR-223 is a 50-metre (vertical) stepdown hole, which expands the mineralized system on drill Section 20150 (same section as previous). It intersected multiple mineralized intervals including:
    • 1.60 g/t gold over 21.90 metres from 474.00 to 495.90 metres. This included a high-grade core of 13.27 g/t gold over 1.90 metres from 491.00 to 492.90 metres;
    • A separate interval of 2.44 g/t gold over 34.10 metres from 515.00 to 549.10 metres;
    • This included a high-grade core of 10.53 g/t gold over 6.00 metres from 524.50 to 530.50 metres. This is the deepest LP fault zone gold intercept to date in this area.
  • 1.02 g/t gold over 21.30 metres from 47.40 to 68.70 metres in drill hole BR-206 on drill Section 20200 (50 metres from previous):
    • BR-206 also intersected a separate interval of 25.36 g/t gold over 4.65 metres from 139.35 to 144.00 metres as described in the shallow high-grade results at the start of this release.
  • 1.66 g/t gold over 13.00 metres from 223.00 to 236.00 metres in drill hole BR-220 on drill Section 20200 (same section as previous).

Additional drilling

Seven more widely spaced drill holes were also completed along 500 metres of strike length on drill sections 20625 to 21150. This drilling is located 450 to 950 metres to the northwest of the holes listed for the previous drill panel. Results again demonstrate similar high-grade and bulk-tonnage-type gold mineralization on all sections, at depths from bedrock surface to approximately 420 vertical metres. Results include:

  • BR-178 is a 50 metre step-down hole on drill section 20650 (450 metres from previous section) that expands gold mineralization at depth on this section. It intersected:
    • 1.18 g/t gold over 22.20 metres from 446.20 to 468.40 metres in drill hole BR-178;
    • This included a high-grade core of 36.40 g/t gold over 1.00 metres from 124.10 to 125.10 metres.
  • 2.57 g/t gold over 22.50 metres from 170.00 to 192.50 metres in drill hole BR-213 on drill Section 20700 (50 metres from previous):
    • This included a high-grade core of 9.58 g/t gold over 4.00 metres from 174.50 to 178.50 metres;
    • A separate interval of 1.08 g/t gold over 25.40 metres was intersected from 219.60 to 245.00 metres.
  • Drill hole BR-196 on drill Section 21100 (400 metres from previous) intersected 16.56 g/t gold over 11.00 metres from 162.50 to 173.50 metres and was reported in the shallow high-grade results at the start of this news release;
  • 1.08 g/t gold over 15.00 metres from bedrock surface (10.00 to 85.00 metres) in drill hole BR-197 on drill Section 21100 (same section as previous):
    • This included a high-grade core of 13.60 g/t gold over 1.00 metre from 72.00 to 73.00 metres.
  • 1.50 g/t gold over 49.30 metres from 190.80 to 240.10 metres in drill hole BR-198 on drill Section 21150 (50 metres from previous):
    • This included a high-grade core of 16.93 g/t gold over 2.20 metres from 196.00 to 198.20 metres.
  • 1.48 g/t gold over 16.20 metres from 77.40 to 93.60 metres in drill hole BR-199 on drill Section 21150 (same section as previous):
    • This included a high-grade core of 13.30 g/t gold over 1.50 metres from 82.50 to 84.00 metres.

Great Bear completed 112,000 metres of drilling in 2020 at a total cost of $23-million. With a minimum 2021 budget of $25-million, the company plans to drill over 130,000 additional metres before year-end. The company also plans to further expand its drill program upon easing of provincial COVID-19 restrictions in Northern Ontario. Great Bear currently has approximately $39-million of cash on hand.

                                     ASSAY RESULTS FROM THIS NEWS RELEASE
  
Drill hole                From (m)             To (m)         Width* (m)         Gold (g/t)           Section

BR-189                      31.75              39.00               7.25               1.33              19900
and                         46.50              50.50               4.00               3.97
including                   47.50              49.00               1.50               9.78
and                         87.80              99.00              11.20               1.11
and                        104.00             132.00              28.00               2.07
including                  104.00             106.00               2.00              13.85
and including              126.20             129.75               3.55               5.79
BR-201                     138.00             160.00              22.00               1.80              19950
including                  142.30             150.35               8.05               4.25
and including              145.50             147.50               2.00              10.57
and                        163.50             170.85               7.35              20.24
including                  165.00             169.50               4.50              32.38
and including              165.00             165.50               0.50             211.00
and                        352.90             355.50               2.60               2.66
BR-210                     346.10             347.70               1.60               4.74              19950
and                        386.75             391.30               4.55               1.43
BR-200                      36.05              56.50              20.45               1.00              20100
BR-209                      18.00              47.45              29.45               1.34              20100
BR-202                      57.05             123.00              65.95               1.31              20125
including                   71.80              76.50               4.70               8.48
BR-203                      27.10              32.00               4.90              18.45              20150
including                   27.10              28.45               1.35              60.33
and                         73.05             103.65              30.60               1.51
including                   73.70              76.60               2.90              11.49
and                        124.10             125.10               1.00              36.40
BR-204                      23.00              42.00              19.00               3.24              20150
including                   30.30              33.90               3.60              11.34
and                         82.30              94.35              12.05               7.74
and including               83.10              88.10               5.00              17.11
and including               83.60              86.60               3.00              26.22
BR-208                      22.15              57.00              34.85               1.19              20150
including                   23.30              25.00               1.70              10.67
BR-221                     417.00             463.60              46.60               1.04              20150
including                  436.50             450.80              14.30               2.39
and including              443.00             450.80               7.80               3.21
BR-223                     474.00             495.90              21.90               1.60              20150
including                  488.45             492.90               4.45               6.41
and including              491.00             492.90               1.90              13.27
and                        515.00             549.10              34.10               2.44
including                  524.50             533.50               9.00               7.58
and including              524.50             530.50               6.00              10.53
BR-205                      31.00              81.00              50.00               0.50              20200
including                   49.20              52.85               3.65               3.56
and                        107.20             117.00               9.80               1.71
BR-206                      47.40              84.65              37.25               0.68              20200
including                   47.40              68.70              21.30               1.02
and                        129.40             154.50              25.10               5.06
including                  139.35             144.00               4.65              25.36
and including              140.65             141.25               0.60             151.00
BR-215                     110.30             159.70              49.40               0.48              20200
and                        184.00             201.70              17.70               0.59
and                        222.00             229.50               7.50               1.08
BR-220                     223.00             236.00              13.00               1.66              20200
including                  230.10             232.80               2.70               6.70
and including              231.30             231.80               0.50              24.80
BR-203                      27.10              32.00               4.90              18.45              20150
including                   27.10              28.45               1.35              60.33
and                         73.05             103.65              30.60               1.51
including                   73.70              76.60               2.90              11.49
and                        124.10             125.10               1.00              36.40
BR-177                     445.50             476.00              30.50               0.66              20625
including                  459.00             464.00               5.00               2.67
BR-178                     446.20             468.40              22.20               1.18              20650
including                  457.00             458.00               1.00              14.90
and                        446.20             510.00              63.80               0.62
and                        620.10             625.50               5.40               0.70
BR-213                     138.00             151.00              13.00               0.52              20700
                           170.00             192.50              22.50               2.57
including                  174.50             178.50               4.00               9.58
and                        219.60             245.00              25.40               1.08
and including              240.30             242.00               1.70               6.74
BR-196                      72.30              73.00               0.70              78.20              21100
and                         91.30             110.50              19.20               0.55
and                        133.40             151.60              18.20               0.53
and                        162.50             173.50              11.00              16.56
including                  162.50             165.60               3.10              32.90
and including              162.50             163.00               0.50              91.70
BR-197                      70.00              85.00              15.00               1.08              21100
including                   72.00              73.00               1.00              13.60
and                        104.85             106.80               1.95               4.75
BR-198                     115.00             120.00               5.00               1.74              21150
and                        190.80             240.10              49.30               1.50
including                  196.00             198.20               2.20              16.93
and                        222.00             240.10              18.10               1.03
including                  225.00             228.00               3.00               4.57
BR-199                      52.30              57.90               5.60               1.06              21150
and                         77.40              93.60              16.20               1.48
and                         82.50              84.00               1.50              13.30
         
* 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. Interval widths are calculated 
  using a 0.10 g/t gold cut-off grade with up to three m of internal dilution of zero grade. 


  

New cross-sections

With many areas of the LP fault now drilled on 25- to 75-metre centres, a more detailed understanding of gold zone geometries is emerging. Continuing drill results demonstrate:

  • To date all drill holes on all drill sections completed into the LP fault gold system within the approximately 4.2-kilometre-long area of current higher density drilling have successfully intersected gold mineralization.
  • Drill Section 20150 in a figure available on-line provides an example of higher density drill spacing and mineralized zone continuity. Limited additional drilling is expected to be required on this section for mineralized zone modelling to approximately 400-metres depth.
  • Cross-section 19925 (located 225 metres to the southeast of section 20150) demonstrates how at some locations along the LP fault, the main mineralized zone bifurcates into several parallel gold zones which typically extend to bedrock surface.
  • Conversely, cross-section 21100 (located 1,175 metres northwest of Section 19925 in the same zone), demonstrates how the gold mineralized system consolidates into a single mineralized zone in areas of the LP fault.
  • Section 21100 also demonstrates how some sections of the LP fault have yet to be drilled at higher densities. Similar gold zone characteristics are observed on these loosely drilled sections as at more densely drilled sections.

As shown in the company's VRIFY model posted to Great Bear's website, halos of low-grade gold mineralization (0.10 g/t to 1.00 g/t gold) typically also occur adjacent to, and between, the highlight intervals published in news releases. All of the gold zones at the Dixie project remain open to expansion.

A complete assay table for all LP fault drill holes released to date is posted to 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-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 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 (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 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 (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, 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.

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