TSX-V: GBR
VANCOUVER, BC, Feb. 8, 2021 /CNW/ - Great Bear Resources
Ltd. (the "Company" or "Great Bear") (TSX-V: GBR) (OTCQX: GTBAF)
today reported results from its ongoing 2021 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, "In this release we provide highly detailed
individual assay level data from shallow drill holes on one
cross section at three different scales. With tighter
drilling we have observed the same exceptional gold zone continuity
at 25 metre drill spacing, both along strike and vertically, as we
previously observed at 100 – 200 metre spacing. By the end of
2021 we are planning to have completed approximately 100 drill
sections similar to the one contained in this release, consisting
of over 400 drill holes in total. It's worth emphasizing
that all of this drilling is within the same continuous gold zone
along more than 4 kilometres of strike length, which remains open
to extension in all directions, and is present from bedrock
surface."
Figures 1 – 3 contain detailed information
demonstrating gold zone continuity. This news release
provides results from 3 new LP Fault drill holes completed
on drill section 19925. Great Bear has now published results
from 230 LP Fault drill holes and anticipates up to 400
LP Fault drill holes will be completed by the end of
2021. The new drill results from this release are provided in
Table 1.
New Drill Highlights from Drill Section 19925
- 13.38 g/t gold over 18.15 metres from bedrock surface
(29.85 to 48.00 metres) in drill hole BR-253.
-
- This included a high-grade core of 38.39 g/t gold over 5.50
metres from 36.50 to 42.00 metres.
- Drill hole BR-250B contained several mineralized intervals
including:
-
- 4.90 g/t gold over 16.50 metres from 148.00 to 164.5
metres.
- 4.25 g/t gold over 57.00 metres from 172.00 to 229.00
metres
- This included a high-grade core of 63.51 g/t gold over 1.85
metres from 226.15 to 228.00 metres.
Figure 1: Individual assay level data from
highlighted gold intervals at bedrock surface within a 50 metre x
50 metre sub-section of the LP Fault zone on cross section
19925.
Figure 2: Shallow highlighted gold intervals from
bedrock surface to 200 metres depth within a 200 metre x 200 metre
sub-section of the LP Fault zone on cross section 19925.
Location of previous figure is marked. Both new and
previously reported drill highlights are shown.
Figure 3: Complete section 19925 as drilled to date
showing an 800 metre x 800 metre area. Locations of previous
figures are marked. Highlighted drill results are provided on
the left of the image.
Figure 4: Plan map showing location of current drill
results within the LP Fault zone.
Table 1: Assay results from this news
release.
|
|
|
|
|
|
|
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Section
|
BR-250A
|
|
42.00
|
77.00
|
35.00
|
0.84
|
19925
|
BR-250B
|
|
148.00
|
164.50
|
16.50
|
4.90
|
19925
|
|
including
|
148.00
|
149.50
|
1.50
|
10.20
|
|
|
and
|
172.00
|
229.00
|
57.00
|
4.25
|
|
|
including
|
177.65
|
189.50
|
11.85
|
6.03
|
|
|
and
including
|
226.15
|
228.00
|
1.85
|
63.51
|
|
BR-253
|
|
29.85
|
48.00
|
18.15
|
13.38
|
19925
|
|
including
|
36.50
|
42.00
|
5.50
|
38.39
|
|
* 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. Interval widths are calculated using a
0.10 g/t gold cut-off grade with up to 3 m of internal dilution of
zero grade.
|
Drill hole BR-250A was lost shortly after initiation and did not
cross the entire LP Fault zone.
A table of all LP Fault drill holes released to date is posted
to the Company's web site at www.greatbearresources.ca.
Drill collar location, azimuth and dip for drill holes included
in this release are provided in the table below (UTM zone 15N, NAD
83):
|
|
|
|
|
|
|
Hole
ID
|
Easting
|
Northing
|
Elevation
|
Length
|
Dip
|
Azimuth
|
BR-250A
|
457619
|
5633983
|
354
|
93
|
-56
|
190
|
BR-250B
|
457619
|
5633983
|
354
|
492
|
-57
|
200
|
BR-253
|
457558
|
5633846
|
352
|
279
|
-48
|
205
|
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.
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, 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
www.greatbearresources.ca
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.