TSX-V: GBR
VANCOUVER, BC, Oct. 7, 2020 /CNW/ - Columbia,
Canada – Great Bear
Resources Ltd. (the "Company" or "Great Bear") (TSXV: GBR) (OTCQX:
GTBAF) today reported results from its ongoing fully funded
$21 million exploration program at
its 100% owned flagship Dixie Project, in the Red Lake district of Ontario.
Chris Taylor, President and CEO
of Great Bear said, "It has been less than a year and a half since
our LP Fault discovery, but with over 100,000 metres drilled in 180
holes, it's increasingly apparent that the consistency and scale of
this gold mineralized system has few recent exploration parallels.
We are currently completing a series of drill holes designed to
test and refine our geological and gold mineralization model and
plan to release results of this work over the coming weeks. Today's
drill results incorporate holes from this program, including
results from section 20050 which contains the highest density on
the LP Fault zone drilling to date and demonstrates high-grade gold
continuity over 400 vertical metres from surface."
LP Fault Drilling Highlights Include:
- New drill results include 18.58 g/t gold over 19.25
metres on section 20050 towards the middle of the LP Fault zone
in drill hole BR-167. This interval occurs from 287.25 to
306.50 metres downhole and is within a wider interval
assaying 7.04 g/t gold over 54.55 metres. High-grade
sub intervals include a high strain zone which assayed
52.83 g/t gold over 2.80 metres, including a strongly
mineralized core of 194.00 g/t gold over 0.60 metres, and a
separate zone which assayed 23.24 g/t gold over 5.25 metres.
Table 1.
- Eight drill holes spaced 30 – 75 vertical metres apart have now
been completed on section 20050. This section has seen the
highest density drilling to date on the LP Fault zone and
demonstrates high-grade continuity from surface to over 400
vertical metres depth. A cross section is provided in Figure
1.
- Other new results include drill hole BR-190 on
section 20900, located 850 metres to the northwest of
BR-167, which intersected 20.74 g/t gold over 3.80
metres, within a total mineralized zone assaying
2.03 g/t gold over 45.90 metres from 114.50 to 160.40
metres.
- To date, 180 drill holes have been completed along 11
kilometres of the LP fault, totalling approximately 100,000
metres, of which 151 drill holes have been completed on the
central 5 kilometres of the LP Fault which is the focus of the
Company's ongoing detailed drill program. Figure 2 and
Figure 3.
Figure 1: Drill section 20050 showing
continuity of high-grade mineralization on multiple drill holes
from surface to 400 vertical metres depth.
Over the coming weeks, the Company expects to provide investors
with the results of the current targeted drilling which supports
detailed modeling work. A specific date will be provided after this
drilling is completed.
The following table summarizes assay results from the 151 drill
holes completed to date along the 5 kilometre grid drill area:
Gold Assay
Value
|
Number of drill
holes
containing assay intervals
equal to or greater than this
gold value (of 151 holes)
|
Percentage of
drill holes
containing assay intervals
equal to or greater than
this gold value
|
>1
g/t
|
151
|
100%
|
>5
g/t
|
107
|
71%
|
>10
g/t
|
83
|
55%
|
>20
g/t
|
65
|
43%
|
>30
g/t
|
55
|
36%
|
A complete assay table for all LP Fault drill holes completed to
date is posted to the Company's web site at
www.greatbearresources.ca.
Table 1: Current LP Fault drill
results. Drill sections are arranged from southeast (top of Table)
to northwest (bottom of Table).
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Section
|
BR-182
|
|
192.00
|
204.00
|
12.00
|
0.61
|
19450
|
including
|
192.00
|
193.00
|
1.00
|
3.35
|
and
|
237.05
|
239.50
|
2.45
|
1.08
|
BR-183
|
|
212.10
|
215.25
|
3.15
|
0.58
|
19650
|
and
|
284.80
|
286.50
|
1.70
|
1.52
|
and
|
549.50
|
558.00
|
8.50
|
0.59
|
including
|
554.75
|
556.75
|
2.00
|
1.60
|
BR-168
|
|
294.60
|
310.35
|
15.75
|
9.06
|
19950
|
including
|
297.60
|
302.10
|
4.50
|
29.83
|
and
including
|
298.65
|
302.10
|
3.45
|
37.82
|
and
including
|
299.15
|
299.75
|
0.60
|
123.00
|
and
|
319.85
|
325.50
|
5.65
|
2.22
|
BR-167
|
|
187.00
|
189.30
|
2.30
|
1.61
|
20050
|
and
|
253.95
|
308.50
|
54.55
|
7.04
|
including
|
280.00
|
308.50
|
28.50
|
13.04
|
and
including
|
287.25
|
306.50
|
19.25
|
18.58
|
and
including
|
287.25
|
292.50
|
5.25
|
23.24
|
and
including
|
288.00
|
288.55
|
0.55
|
105.00
|
and
including
|
296.50
|
299.30
|
2.80
|
52.83
|
and
including
|
296.50
|
298.30
|
1.80
|
80.07
|
and
including
|
297.70
|
298.30
|
0.60
|
194.00
|
BR-157
|
|
301.00
|
307.65
|
6.65
|
0.44
|
20050
|
and
|
387.80
|
439.00
|
51.20
|
0.41
|
and
|
450.00
|
475.00
|
25.00
|
4.29
|
including
|
451.15
|
469.55
|
18.40
|
5.42
|
and
including
|
459.60
|
469.55
|
9.95
|
7.99
|
and
including
|
459.60
|
460.10
|
0.50
|
71.00
|
BR-173
|
and
|
152.50
|
160.00
|
7.50
|
1.02
|
20400
|
including
|
154.50
|
156.00
|
1.50
|
3.53
|
and
|
196.00
|
221.05
|
25.05
|
1.11
|
including
|
209.00
|
214.30
|
5.30
|
3.48
|
BR-172
|
|
60.50
|
100.50
|
40.00
|
0.58
|
20750
|
including
|
84.00
|
96.75
|
12.75
|
1.00
|
BR-190
|
|
114.50
|
160.40
|
45.90
|
2.03
|
20900
|
including
|
151.85
|
160.40
|
8.55
|
9.92
|
and
including
|
156.10
|
159.90
|
3.80
|
20.74
|
and
including
|
156.65
|
158.70
|
2.05
|
34.77
|
and
including
|
158.15
|
158.70
|
0.55
|
83.70
|
and
|
223.00
|
232.30
|
9.30
|
1.19
|
and
including
|
249.00
|
252.65
|
3.65
|
1.30
|
and
including
|
251.10
|
251.60
|
0.50
|
6.69
|
*Widths are drill
indicated core length, as insufficient drilling has been undertaken
to determine true widths at this time. Average grades are
calculated with un-capped 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 up to 3 m of internal dilution of zero
grade.
|
Figure 2: Inclined plan view of drill results to
date.
Figure 3: Updated long section of LP
Fault to date, showing highlighted assay intervals from BR-167 to
the right of the section. All assays from the highlight
interval of BR-167 which returned 18.58 g/t gold over 19.25 metres
are shown at the right.
Drill collar locations, azimuths and dips for the drill holes
included in this release are provided in the table below, and have
been posted to the Company's web site for all LP Fault drill
holes.
Drill
Hole
|
Easting
|
Northing
|
Elevation
|
Depth
|
Dip
|
Azimuth
|
BR-157
|
457609
|
5634214
|
364
|
768
|
-60
|
209
|
BR-167
|
457552
|
5634098
|
359
|
456
|
-54
|
204
|
BR-172
|
456826
|
5634177
|
357
|
282
|
-55
|
210
|
BR-173
|
457263
|
5634235
|
355
|
705
|
-54
|
208
|
BR-182
|
458079
|
5633794
|
365
|
462
|
-55
|
209
|
BR-183
|
457948
|
5634000
|
365
|
618
|
-53
|
212
|
BR-190
|
456725
|
5634328
|
357
|
555
|
-62
|
215
|
About the Dixie Project
The Dixie Project is 100% owned, comprised of 9,140 hectares of
contiguous claims that extend over 22 kilometres, and is located
approximately 25 kilometres southeast of the town of Red Lake, Ontario. 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
Great Bear Resources Ltd. is a well-financed gold
exploration company managed by a team with a track 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 km2 of highly prospective
tenure across 4 projects: the flagship Dixie Project (100%
owned), the Pakwash Property (earning a 100% interest), the Dedee
Property (earning a 100% interest), and the Sobel Property (earning
a 100% 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
Ontario. 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 analysed 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% 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 1 kg
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 (QAQC). No QAQC issues were noted with the results reported
herein.
Qualified Person and NI 43-101 Disclosure
Mr. R. Bob Singh, P.Geo, Director
and VP Exploration, and Ms. Andrea Diakow
P.Geo, 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.
ON BEHALF OF THE BOARD
"Chris Taylor"
Chris Taylor, President and
CEO
Cautionary note regarding forward-looking
statements
This release contains certain "forward looking statements"
and certain "forward-looking information" as defined under
applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes.
Forward-looking information are based on management of the
parties' reasonable assumptions, estimates, expectations, analyses
and opinions, which are based on such management's experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be
incorrect.
Great Bear undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/great-bear-drills-18-58-gt-gold-over-19-25-m-reaches-100-000-m-drilled-in-180-holes-at-lp-fault-and-provides-detailed-high-grade-drill-section-301147329.html
SOURCE Great Bear Resources Ltd.