Category: Silver / Gold

Great Bear Resources ( GBR )

Published: 07 September 2017
Written by Editor
Drill Results   Up on News   TSXV  

Great Bear Drills 16.84 g/t Gold over 10.40 m in Red Lake District 

Vancouver, British Columbia--(September 7, 2017) - Great Bear Resources (TSXV: GBR) (the "Company" or "Great Bear") today announced results from the first 5 holes of an 8-hole drill program completed on the Dixie Lake Project, located in the Red Lake District of Ontario.
 
Highlights of drilling include:
Hole DL-005 intersected 10.40 m of 16.84 g/t gold including 1.05 m of 130.10 g/t gold
Hole DL-004 intersected 6.30 m of 5.56 g/t gold including 1.0 m of 8.33 g/t gold
Hole DL-001 intersected 4.60 m of 4.07 g/t gold including 0.50 m of 10.50 g/t gold
Hole DL-003 intersected 13.75 m of 2.11 g/t gold including 1.5 m of 5.42 g/t gold
Results for holes DL-006, DL-007a and DL-008 are pending.Chris Taylor, M.Sc. P.Geo, CEO of Great Bear said, "We have recently more than tripled our Dixie Lake land position because our geological interpretation suggests we are exploring a regionally significant gold-bearing structure that mineralizes diverse geological units. With Dixie Lake's road access, on-site power lines, and location 20 kilometres from Red Lake, Great Bear is well-positioned to grow along with this emerging project. Great Bear has the option to earn a 100% interest in the Dixie Lake project, royalty-free, for an additional $150,000 in payments over four years."

R. Bob Singh, P.Geo, Vice President Exploration and Director of Great Bear said, "The intercept in hole DL-005 is the widest — highest grade intercept on the property to-date, and shows the potential of the main mineralized structures to host high-grade gold. It carries grade throughout the intercept, within a basalt that is strongly altered by silica and sulphides. Our 3D geological modelling, re-logging of historical drill core and re-interpretation of the zone has clearly led to a better understanding of the structural and geological relationships of high-grade gold on this property that we plan to pursue over the fall and winter."

The Company anticipates a fall-winter exploration program consisting of mapping, geophysical investigations, and drilling. Details will be released once all assay results from Phase 1 drilling are received. The Company completed a private placement in July 2017 and is funded for the planned exploration.

Table 1 contains composite intervals for holes DL-001 to DL-005. Table 2 contains individual assays for hole DL-005. A plan map is shown in Figure 1 and a cross section in Figure 2.

All 8 drill holes completed by Great Bear intersected a strong silica with sulphide zone consisting of pyrite and pyrrhotite with lesser arsenopyrite, sphalerite and galena. Visible gold was noted in some intervals. This zone is interpreted as a structurally controlled hyrdrothermal replacement of pre-existing rock units. The zone crosses through various lithological units and has been identified along strike for at least 450 metres by Great Bear, with indications from past work of over 1.4 kilometres of strike length that remains open to extension.

Table 1: Composite results of drill holes returned to date

Hole Number   From (m) To (m) Width (m)* Au (g/t)
DL-001   136.40 141.00 4.60 4.07
DL-001 including 137.00 138.30 1.30 5.74
DL-001 and including 139.90 141.00 1.10 6.71
DL-001 and including 140.50 141.00 0.50 10.50
DL-002   122.00 128.50 6.50 1.33
DL-002 including 124.50 125.70 1.20 3.06
DL-003   53.25 67.00 13.75 2.11
DL-003 including 53.25 54.75 1.50 3.11
DL-003 and including 59.80 61.80 2.00 4.61
DL-003 and including 60.30 61.80 1.50 5.42
DL-003 and including 64.00 67.00 3.00 2.61
DL-003 and including 66.50 67.00 0.50 7.36
DL-003 and including 60.30 61.30 1.00 6.35
DL-004   56.20 62.50 6.30 5.56
DL-004 including 59.50 62.00 3.00 6.45
DL-004 and including 59.50 60.50 1.00 8.33
DL-004 and including 62.00 62.50 0.50 16.40
DL-004 and 69.00 72.00 3.00 2.34
DL-005   162.60 173.00 10.40 16.84
DL-005 including 164.60 172.45 7.85 21.53
DL-005 and including 164.60 166.10 1.50 12.04
DL-005 and including 170.75 172.45 1.70 82.54
DL-005 and including 171.40 172.45 1.05 130.10

 

*Width represents core length and does not reflect true width of the zone. Great Bear has not completed enough work on the project to determine true width of the zone. Current interpretations suggest that the zone dips between 60 — 90 degrees. All composite intervals are calculated using a minimum cutoff grade of 0.50 g/t gold with < 1.5 metres of internal dilution.

 

Table 2: Complete results for Hole DL-005 showing continuity of mineralization

Sample Hole From (m) To(m) Width (m) Au (g/t)
278503 DL-005 162.00 162.60 0.60 0.21
278504 DL-005 162.60 163.20 0.60 1.59
278505 DL-005 163.20 163.70 0.50 2.00
278506 DL-005 163.70 164.20 0.50 1.06
278507 DL-005 164.20 164.60 0.40 6.20
278508 DL-005 164.60 165.10 0.50 10.50
278509 DL-005 165.10 165.60 0.50 8.61
278511 DL-005 165.60 166.10 0.50 17.00
278512 DL-005 166.10 166.65 0.55 0.59
278513 DL-005 166.65 167.05 0.40 1.06
278514 DL-005 167.05 167.50 0.45 2.13
278515 DL-005 167.50 167.90 0.40 3.22
278516 DL-005 167.90 168.35 0.45 3.63
278517 DL-005 168.35 168.70 0.35 1.79
278518 DL-005 168.70 169.25 0.55 3.82
278519 DL-005 169.25 169.75 0.50 2.18
278521 DL-005 169.75 170.25 0.50 2.40
278522 DL-005 170.25 170.75 0.50 1.99
278523 DL-005 170.75 171.40 0.65 5.73
278524 DL-005 171.40 171.95 0.55 142.00
278525 DL-005 171.95 172.45 0.50 117.00
278526 DL-005 172.45 173.00 0.55 2.04
278527 DL-005 173.00 173.75 0.75 0.75
278528 DL-005 173.75 174.75 1.00 0.01
278529 DL-005 174.75 175.50 0.75 0.10
278531 DL-005 175.50 176.20 0.70 0.10
278532 DL-005 176.20 176.85 0.65 0.04
278533 DL-005 176.85 177.50 0.65 0.38

 

Figure 1: Drill plan with drill hole intercepts and interpreted mineralization. Multiple sub-parallel gold mineralized trends are observed and are being interpreted by Great Bear's geologists.

To view an enhanced version, please visit:
http://orders.newsfilecorp.com/files/5331/28867_a1504733483530_33.jpg

 

Figure 2: Cross section through the main Dixie Lake zone. The zone projects to surface and has been drill-confirmed to approximately 500 vertical metres depth. It remains open to depth and along strike. Geometry and mineralization style are similar to other structurally-controlled deposits in the Red Lake district.


To view an enhanced version, please visit:
http://orders.newsfilecorp.com/files/5331/28867_a1504733483812_60.jpg

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which now consists of 7106 hectares. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2725 hectares and are contiguous with Pure Gold Mining Inc.'s (TSX-V: PGM) Madsen property. All of Great Bear's Red Lake projects are accessible year-round through existing roads.

Drill core was logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program were cut in half, using a diamond cutting saw, and were sent to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis. All samples were analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold were analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

"Chris Taylor"                                                 

Chris Taylor, President and CEO

Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
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www.greatbearresources.ca

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.

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