TSX-V: GBR
VANCOUVER, June 11, 2019
/CNW/ - Great Bear Resources Ltd. (the "Company" or "Great
Bear", TSX-V: GBR) today reported mobilization of a third drill rig
to its 100% owned Dixie Project in the Red Lake District of Ontario, as part of its ongoing fully-funded
60,000 metre drill program.
The third drill will target the new Bear-Rimini Zone and the "LP
Fault", which is the 18 kilometre long structural target that is
adjacent to, and partially hosts, the discovery as shown on
Figure 1. Drilling is expected to begin at the
Bear-Rimini Zone using the third drill rig within a few days.
The Bear-Rimini discovery consists of multiple zones of shallow
high-grade gold mineralization in drill hole DNW-011.
Highlight intervals include 14.00 metres of 12.33 g/t gold
including 4.60 metres of 30.90 g/t gold, and 2.00 metres of 194.21
g/t gold including 0.50 metres of 759.38 g/t gold (see Great Bear
news release of May 28, 2019).
The high-grade gold intervals were intersected at less that 100
metres vertical depth in the footwall of the LP Fault.
Mineralization within the fault zone itself returned a
separate interval of 50.60 metres of 0.74 g/t gold. 15
additional historical drill holes have also cut the LP Fault along
2.5 kilometres of strike length and intercepted similar lower-grade
mineralization to that observed within the fault in DNW-011.
Chris Taylor, President and CEO
of Great Bear said, "Approximately 30,000 metres of our
fully-funded 60,000 metre drill program remain to be drilled this
year. Two drill rigs are currently on site at Dixie and will
continue to drill the Hinge and Dixie Limb Zones. The third
drill rig is expected to be dedicated to ongoing drilling of the
Bear-Rimini Zone and LP Fault. The Company will continue to
systematically and rapidly explore the high-grade gold zones
discovered to date, plus several additional high priority targets
that have also been identified across the property."
About Great Bear
Great Bear Resources Ltd. (TSX-V: GBR) is a well
financed company based in Vancouver,
Canada, managed by a team with a track record of success in
the mineral exploration sector. Great Bear holds a 100% interest,
royalty free, in its flagship Dixie property, which is road
accessible year-round via Highway 105, a 15 minute drive from
downtown Red Lake, Ontario.
The Red Lake mining district is one of the premier mining
districts in Canada, benefitting
from major active mining operations including the Red Lake Gold
Mine of Newmont Goldcorp Corp., plus modern infrastructure and a
skilled workforce. Gold production from the Red Lake district does not necessarily reflect
the mineralization that may, or may not be, hosted on the Company's
Dixie property. The Dixie property covers a drill and
geophysically defined multi-kilometre gold mineralized structure
similar to that associated with other producing gold mines in the
district. In addition, Great Bear is also earning a 100%
royalty-free interest in the Pakwash, Dedee and Sobel properties,
which cover regionally significant gold-controlling structures and
prospective geology elsewhere in the Red
Lake district. All of Great Bear's Red Lake projects are accessible year-round
through existing roads.
![Figure 1: Map of the Dixie project showing the location of known gold zones (DHZ, DL, DNW and DNE) and current drill results. The location of the LP Fault drilled in DNW-011 is shown in red dashes. The Bear-Rimini Zone is labelled “BR”. (CNW Group/Great Bear Resources Ltd.) Figure 1: Map of the Dixie project showing the location of known gold zones (DHZ, DL, DNW and DNE) and current drill results. The location of the LP Fault drilled in DNW-011 is shown in red dashes. The Bear-Rimini Zone is labelled “BR”. (CNW Group/Great Bear Resources Ltd.)](https://mma.prnewswire.com/media/900731/Great_Bear_Resources_Ltd__Great_Bear_Mobilizes_Third_Drill_Rig_t.jpg)
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
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.
We seek safe harbor
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SOURCE Great Bear Resources Ltd.