TSX-V: GBR
VANCOUVER, Aug. 21, 2019 /CNW/ - Great Bear Resources
Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported the
most recent drill results from the Hinge and Dixie Limb
Zones at its 100% owned Dixie Project in the Red Lake District of Ontario. The most recent Hinge Zone
drill results are summarized in Table 1, and Dixie Limb
drill results are summarized in Table 2.
Chris Taylor, President and CEO
of Great Bear said, "The one-year anniversary of our Hinge Zone
discovery is marked by the discovery of a new shallow high-grade
gold zone located west of, and above, the majority of our Hinge
drilling to-date. Concurrently, high-grade gold continues to
be drilled at predicted structural intersections in the Dixie
Limb. Presently, all three drill rigs are deployed at various
targets along the LP Fault. It would have been difficult to
imagine last summer just how much progress we would make in only
one year. The most exciting aspect of the Dixie project is
that the pace of discovery has continued to accelerate, and we look
forward to what our fully-funded drill campaign will continue to
yield through 2019 and 2020."
Highlights of the most recent results include:
- A new steeply plunging high-grade sub-zone was
discovered to the west of, and above, most previous drilling in the
Hinge Zone. Results include 30.81 g/t gold over 2.50
metres within a broader zone of 7.40 g/t gold over 13.20
metres, at only 68 metres vertical depth. The new
zone is shown on Figure 1.
- The new Hinge Zone sub-zone was also tested to approximately
140 metres vertical depth, where assays returned 20.41 g/t gold
over 2.20 metres, within a wide interval of 2.07 g/t gold over
29.80 metres. Gold-bearing quartz veins are strongly
developed adjacent to a newly defined sediment contact within the
same high-iron tholeiitic pillow basalt that hosts the original
Hinge Zone discovery.
- Recent Dixie Limb drill results include 21.54 g/t
gold over 2.35 metres within a broader interval of 9.68 g/t
gold over 5.60 metres. Drilling continues
to encounter high-grade gold intervals near the predicted
intersections of Hinge-Zone style gold-bearing veins with the Dixie
Limb contact. Broad intervals of low to moderate
gold grades are also present at all locations drilled.
Table 1: Summary of most recent drill
results from the Hinge Zone. Drilling focused primarily on
targeting a newly predicted high-grade gold control, leading to
discovery of a new sub-zone along the Hinge Zone vein swarm.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Vertical
Depth
(m)
|
DHZ-050
|
|
63.00
|
78.75
|
15.75
|
6.28
|
68
|
including
|
64.00
|
77.20
|
13.20
|
7.40
|
|
and
including
|
64.00
|
64.50
|
0.50
|
6.76
|
|
and
including
|
68.15
|
68.65
|
0.50
|
4.20
|
|
and
including
|
72.80
|
77.20
|
4.40
|
19.97
|
|
and
including
|
72.80
|
76.60
|
3.80
|
22.27
|
|
and
including
|
72.80
|
75.30
|
2.50
|
30.81
|
|
and
including
|
73.80
|
75.30
|
1.50
|
46.49
|
|
DHZ-051
|
|
83.40
|
86.10
|
2.70
|
1.52
|
87
|
including
|
83.90
|
84.50
|
0.60
|
4.24
|
|
DHZ-052
|
|
100.50
|
102.00
|
1.50
|
14.04
|
105
|
and
|
172.00
|
172.50
|
0.50
|
2.40
|
169
|
DHZ-053
|
anomalous
|
|
DHZ-054
|
|
147.90
|
150.00
|
2.10
|
1.40
|
155
|
including
|
147.90
|
148.40
|
0.50
|
5.18
|
|
and
|
189.60
|
190.90
|
1.30
|
11.19
|
193
|
including
|
189.60
|
190.20
|
0.60
|
23.34
|
|
and
|
223.00
|
229.50
|
6.50
|
1.11
|
227
|
and
|
299.50
|
303.00
|
3.50
|
1.04
|
296
|
including
|
300.00
|
300.50
|
0.50
|
4.07
|
|
DHZ-055
|
|
91.80
|
99.50
|
7.70
|
1.59
|
109
|
including
|
91.80
|
93.70
|
1.90
|
3.09
|
|
and
including
|
98.80
|
99.50
|
0.70
|
4.14
|
|
DHZ-056
|
anomalous
|
|
DHZ-057
|
|
52.10
|
52.80
|
0.70
|
5.72
|
62
|
DHZ-058
|
anomalous
|
|
DHZ-059
|
anomalous
|
|
DHZ-060
|
|
125.50
|
155.30
|
29.80
|
2.07
|
145
|
including
|
127.00
|
141.40
|
14.40
|
3.80
|
|
and
including
|
139.20
|
141.40
|
2.20
|
20.41
|
|
and
including
|
139.90
|
141.40
|
1.50
|
29.49
|
|
|
|
*
|
Drill interval widths
are 80% of true width based on intersection points of the
drill hole intercept with the geological model and oriented drill
core data.
|
New Gold Controls at Hinge Zone
The new high-grade gold sub-zone in the Hinge Zone was
discovered by modeling north-south striking sediment units that
intersect the east-west striking Hinge Zone vein swarm. While
gold-bearing veins occur in every geological unit cut by the vein
swarm (pillow basalts, sediments, ultramafics, and other
volcanics), the outer contacts of the sediments appear to have
enhanced gold grades and gold-bearing vein development when
adjacent to the high-iron tholeiitic pillow basalts that host
the majority of gold mineralization. These contacts provide
another predictable steeply plunging structural intersection
that was successfully targeted during the most recent gold
discovery.
The Hinge Zone vein swarm has been drilled along 550 metres of
strike length to-date and remains open in all directions. The
Dixie greenstone belt underlies the projected trend of the Hinge
Zone vein swarm to the west for approximately 5 kilometres before
being cut off by a granitic batholith. In addition to ongoing
step-out and step-down drilling within the Hinge Zone, this
projected vein trend will also to be tested during ongoing
drilling.
Table 2: Summary of the most recent
Dixie Limb drill results.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
DL-052
|
|
261.00
|
279.20
|
18.20
|
3.51
|
including
|
272.55
|
278.15
|
5.60
|
9.68
|
and
including
|
274.75
|
277.10
|
2.35
|
21.54
|
and
including
|
274.75
|
275.25
|
0.50
|
72.08
|
and
including
|
276.60
|
277.10
|
0.50
|
17.28
|
DL-053
|
|
273.50
|
288.50
|
15.00
|
2.37
|
including
|
283.00
|
288.00
|
5.00
|
5.28
|
and
including
|
283.00
|
286.50
|
3.50
|
6.02
|
DL-054
|
|
234.40
|
243.00
|
8.60
|
1.54
|
and
|
238.00
|
241.00
|
3.00
|
2.88
|
including
|
239.50
|
241.00
|
1.50
|
4.68
|
and
including
|
240.50
|
241.00
|
0.50
|
8.53
|
DL-055
|
|
257.50
|
272.20
|
14.70
|
0.90
|
including
|
267.00
|
269.90
|
2.90
|
2.47
|
and
|
268.45
|
268.95
|
0.50
|
6.14
|
DL-056
|
|
285.00
|
303.00
|
18.00
|
1.09
|
including
|
288.10
|
288.60
|
0.50
|
6.33
|
|
300.25
|
301.50
|
1.25
|
3.96
|
including
|
301.00
|
301.50
|
0.50
|
5.36
|
DL-057
|
|
138.05
|
151.35
|
13.30
|
1.36
|
including
|
147.35
|
150.85
|
3.50
|
3.22
|
and
including
|
147.35
|
148.85
|
1.50
|
5.38
|
DL-058
|
|
170.40
|
180.80
|
10.40
|
1.82
|
including
|
178.30
|
179.30
|
1.00
|
6.70
|
and
including
|
178.80
|
179.30
|
0.50
|
8.88
|
DL-059
|
|
59.90
|
68.50
|
8.60
|
1.83
|
including
|
63.65
|
68.00
|
4.35
|
3.14
|
and
including
|
66.10
|
68.00
|
1.90
|
4.94
|
and
including
|
66.10
|
66.65
|
0.55
|
10.93
|
DL-060
|
|
77.20
|
83.30
|
6.10
|
2.43
|
including
|
81.60
|
83.30
|
1.70
|
5.49
|
and
|
330.00
|
335.15
|
5.15
|
1.10
|
including
|
331.20
|
331.70
|
0.50
|
5.32
|
and
|
334.00
|
334.50
|
0.50
|
4.84
|
DL-061
|
|
293.70
|
309.30
|
15.60
|
2.19
|
including
|
296.20
|
305.95
|
9.75
|
3.23
|
and
including
|
296.20
|
297.70
|
1.50
|
17.34
|
and
including
|
296.70
|
297.20
|
0.50
|
49.96
|
and
|
505.50
|
507.00
|
1.50
|
2.06
|
DL-062
|
|
322.50
|
324.00
|
1.50
|
3.80
|
|
|
*
|
Drill interval widths
are 80% of true width based on intersection points of the
drill hole intercept with the geological model and oriented drill
core data.
|
Dixie Limb Zone Drill Update
Recent drilling in the Dixie Limb Zone has targeted both:
- Steeply plunging high-grade gold zones that are present at and
near the predicted intersection of gold-bearing quartz veins
parallel to the Hinge Zone vein swarm with the geological contact
between basalts and sediments that defines the Dixie Limb, and
- Undrilled areas along the 600-metre strike length of the Dixie
Limb that are required for comprehensive 3D modeling of the overall
zone. In these areas, silica-sulphide mineralization typical
of the Dixie Limb generally contains low to moderate gold
grades.
Drilling is expected to continue with the goals of defining and
extending the Dixie Limb Zone both along strike and at depth during
the current drill campaign.
LP Fault Drill Update
All three of the Company's drills remain at various targets
along the LP Fault. To-date, approximately 3 kilometres of
the approximately 18-kilometre strike length of the fault system
has been drill-tested with widely spaced drill fences.
The Company has organized a webinar to discuss recent drill
program progress on Wednesday September
4th, 2019 at 8AM
PDT/11AM EDT.
Participation details are provided in the Company's August 15th news release.
Great Bear continues to undertake a fully funded, 90,000 metre
drill program that is expected to continue through 2019 and
2020. Targets tested will include the Hinge Zone, Dixie Limb
Zone, Bear-Rimini Zone, Yuma Zone, LP Fault, North Fault, and other
targets across the property. In order to accelerate the
program, a second drill rig was added in February, and a third
drill rig arrived in June of 2019. Approximately 45,000
metres of drilling remain in the current program.
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.
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. All of Great Bear's Red
Lake projects are accessible year-round through existing
roads.
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 SGS Canada Inc. in Red Lake,
Ontario, and Activation Laboratories in Ontario, both of which are accredited mineral
analysis laboratories, for analysis. All samples are analyzed for
gold using standard Fire Assay-AA techniques. Samples returning
over 10.0 g/t gold are analyzed 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.
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
Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
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.
We seek safe harbor
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SOURCE Great Bear Resources Ltd.