TSX-V: GBR
VANCOUVER, BC, Dec. 16, 2020 /CNW/ - Great Bear Resources Ltd.
(the "Company" or "Great Bear", TSX-V: GBR; OTCQX: GTBAF) is
pleased to announce the appointment of Michael Kenyon as Non-Executive Chairman of the
Board and the addition of Paula
Rogers to its Board of Directors.
The Company also announces it has partnered with VRIFY
Technology Inc. ("VRIFY") to develop an interactive presentation,
including a virtual geology overview and 3D model of its Dixie
Project in Red Lake,
Ontario. Figure 1.
Chris Taylor, President and CEO
of Great Bear said, "Michael and Paula have collectively overseen
the development and financing of several major mining projects with
a collective value of more than $10
billion, and their experience adds significantly to the
depth of our Board. I am very pleased to welcome them into
their new roles with Great Bear. Also of note, our technical
team under Bob Singh has worked with
the team at VRIFY to provide a simplified, interactive model
showing all of our Dixie Project drill results from the 2017 – 2020
exploration seasons, which totals over 400 drill holes. We've
provided our current in-progress geological and mineralization
models on our web site and on the Great Bear page at VRIFY, and
plan to update this information periodically on a go-forward
basis."
The presentation can be accessed from any web browser at
www.greatbearresources.ca, or at
www.vrify.com/explore/companies/great-bear-resources-ltd.
The interactive geological model provides simple and easily
understood information on the Dixie Project by allowing investors
to review the data. It also allows the Company to continue
delivering transparent information to investors on drilling and
exploration progress. Users can digitally visit the
exploration site in Red Lake,
review the 3D renderings of the property geology, and interactively
examine the gold mineralization at the LP Fault, Hinge and
Dixie Limb zones.
The Company will continue to periodically update its interactive
content alongside drill results and other catalysts as the Dixie
Project continues to be advanced.
Annual General Meeting Results
Great Bear also announces the results of its Annual General
Meeting held on December 15, 2020.
The total number of shares represented by shareholders
present in person and by proxy at the Meeting was 28,449,066,
representing 53.80% of the Company's issued and outstanding common
shares.
All of the matters put forward before shareholders for
consideration and approval, as set out in the Company's Management
Information Circular dated November 12,
2020, were approved by the requisite majority of votes cast
at the Meeting, which matters included, among other things:
- To set the number of Directors at six (6)
- The election of Christopher
Taylor, Michael Kenyon,
Tony Ricci, Douglas Ramshaw, Paula
Rogers, and David Terry as
directors of the Company for the ensuing year
- The Appointment of MNP LLP as Auditors of the Company for the
ensuing year and authorizing the Directors to fix their
remuneration.
- To ratify and approve the continuation of the Company's 10%
"rolling" Stock Option Plan
- To ratify and approve the RSU/DSU Plan
The Company also reports it has granted an aggregate of 150,000
stock options to a director of the Company, exercisable at
$16.69 per share for a period of five
years.
About VRIFY Technology Inc.
VRIFY's technology helps communicate a company's value with
presentation tools that simplify information and translate tough to
digest data into compelling content. The VRIFY platform allows
companies to showcase project data with interactive 3D models, host
site visits using virtual tours, and present content to devices,
anytime, anywhere in the world.
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 330 km2 of highly prospective
tenure across 5 projects: the flagship Dixie Project (100% owned),
the Pakwash Property (earning a 100% interest), the Dedee Property
(earning a 100% interest), the Sobel Property (earning a 100%
interest), and the Red Lake North Property (earning a 100%
interest) all of which are accessible year-round through existing
roads.
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.
Such factors, among other things, include: impacts arising
from the global disruption caused by the Covid-19 coronavirus
outbreak, business integration risks; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold or certain other
commodities; change in national and local government, legislation,
taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of
mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
formations pressures, cave-ins and flooding); discrepancies between
actual and estimated metallurgical recoveries; inability to obtain
adequate insurance to cover risks and hazards; the presence of laws
and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and
indigenous populations; availability of increasing costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government
authorities); and title to properties.
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.
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SOURCE Great Bear Resources Ltd.