TSX-V: GBR
VANCOUVER, Sept. 3, 2019 /CNW/ - Great Bear Resources Ltd.
(the "Company" or "Great Bear", TSX-V: GBR) today reported
multiple gold discoveries along 3.2 kilometres strike length of
the approximately 18 kilometre long LP Fault target at its 100%
owned Dixie project in the Red
Lake district of Ontario. Highlights of the new drill
results include:
- All drill holes that have intersected the LP Fault to-date
have successfully intersected gold mineralization along 3.2
kilometres of strike length. The new high-grade "Auro" Zone was drilled at a 2.6 kilometre
step-out to the southeast of the Bear-Rimini Discovery area.
- New high-grade gold intercepts include: 101.70
g/t gold over 1.50 metres, within 10.65 g/t gold over 17.25 metres
at the Auro Zone, and 27.77 g/t gold over 2.00 metres within 11.08
g/t gold over 7.00 metres in the Yuma Zone.
- Wide intervals of disseminated gold mineralization have
been drilled surrounding, and adjacent to the high-grade
intercepts, including: 42.00 metres of 5.28 g/t gold in the Auro
Zone; 22.00 metres of 1.14 g/t gold in the Yuma Zone; and 40.80
metres of 1.00 g/t gold in the Bear-Rimini Discovery Zone. These
wide gold zones project to the near-surface in all
locations.
- Gold mineralization at the Yuma Zone has been
extended from the near-surface to 480 metres vertical
depth, and remains open to extension.
- Fully funded with more than $18m in cash, Great Bear plans to drill along
approximately 18 kilometres of the strike length of the LP Fault
target between now and summer 2020. A labeled section grid is
provided in Figure 1.
- Reconnaissance drilling will include up to one kilometre
step-outs between drill sections, with more closely-spaced
follow-up drilling around any new gold discoveries that may be
made. Current drill spacing is shown three dimensionally in
Figure 2.
- Gold mineralization associated with the LP Fault is not
typical of the Red Lake
district. Early observations suggest that gold is associated
with a large-scale deformation zone near the contact between
sediments and felsic volcanics. Accessory minerals include
pyrite, sphalerite, and galena with minor chalcopyrite and
arsenopyrite. Elevated lead, silver and zinc values are observed
within higher grade gold intercepts.
- The LP Fault deformation zone is similar in character to
other large gold-hosting deformation zones in Archean greenstone
belts. Well-known Canadian examples include the Larder Lake
Cadillac Break that extends through Kirkland Lake and Val D'Or, the Porcupine Destor Fault Zone of
the Timmins Camp, the Detour Lake Fault Zone, the Pike Fault in the
Meliadine camp of Nunavut, and the
Cochenour-Gullrock deformation zone of the Red Lake Mine
complex.
Chris Taylor, President and CEO
of Great Bear said, "Our first month of reconnaissance drilling
along the LP Fault has been highly successful. To place the
scope of our program in context, the combined strike length of
significant mine properties in the Red
Lake district from the Starratt-Olsen deposit in the
southwest, through the central Red Lake Mine Complex, to the
Phoenix deposit in the North, is
approximately 23 kilometres. This is roughly the same as
the strike length as the LP Fault target at Dixie. While
the total extent of gold mineralization along the LP Fault is
unknown, we have now confirmed gold in all drill holes that
intersected the fault along 3.2 kilometres, and will continue
aggressive step-out and step-down drilling until we find the
system's limits. We plan to have drilled along most of the LP
structure by this time next year, and, are already fully funded for
this work."
John Robins, Advisor to Great
Bear said, "Great Bear's recent discoveries south of Red Lake appear to have the hallmarks of an
emerging district-scale gold camp."
A key observation from recent drilling along
the LP Fault is that the alteration zone within sedimentary and
felsic volcanic rocks which hosts disseminated gold mineralization
attains significant widths of up to up to 300 metres of core
length where drilled to-date. The mineralized system
continues from the near-surface to over 500 metres depth
(the extent of current drilling), and is open to extension.
This is shown on the drill sections in this news
release.
Gold-bearing zones are in turn surrounded by broad halos of
typically barren sericite alteration. This is also
observed at other major Archean greenstone mesothermal/structural
gold camps across Canada.
The LP Fault gold mineralization system is clearly not
typical of the Red Lake
district. High-grade gold in quartz veins, hosted by
mafic volcanic units characterizes most of the major gold deposits
in Red Lake, and is also observed
at Great Bear's Hinge and Dixie Limb gold discoveries, located less
than one kilometre from the LP Fault.
New Auro Zone Discovery: Section 20075
- Located at a 2.6 kilometre step-out southeast of the
Bear-Rimini discovery, and 1.2 kilometres southeast of the Yuma
Zone along the LP Fault. A cross section of the Auro Zone is shown
on Figure 3. Highlights include 10.65 g/t gold over 17.25
metres.
- The Auro Zone is located less than one kilometre to the
northeast of the Dixie Limb and Hinge Zones.
- Previously, Great Bear described the Auro Zone as the "DNE"
target area, and historical drill intercepts within the LP Fault at
this location include 24.6 metres of 0.86 g/t gold. Historical
drill holes were located less than 100 metres from Great Bear's new
high-grade discovery.
- Various gold intervals were intersected along 307 metres of
core length in discovery drill hole BR-020, as shown in Table
1. Gold mineralization projects to within metres of surface,
below shallow gravel cover.
- The same geological units were intersected at the Auro Zone as
at the Yuma and Bear-Rimini
Discovery Zones, showing apparent continuity of the host
stratigraphy and structures along the 3.2 kilometres of strike
extent of the LP Fault tested to date. Gold was intersected at the
predicted geological contact, as had occurred at the Bear-Rimini
and Yuma Zones.
Table 1: Assay intervals from Auro
Zone discovery hole BR-020.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Section
|
|
|
38.00
|
77.55
|
39.55
|
0.26
|
20075
|
BR-020
|
|
81.00
|
134.70
|
53.70
|
4.20
|
including
|
90.00
|
132.00
|
42.00
|
5.28
|
and
including
|
90.75
|
108.00
|
17.25
|
10.65
|
and
including
|
90.75
|
94.00
|
3.25
|
48.08
|
and
including
|
90.75
|
92.25
|
1.50
|
101.71
|
and
including
|
125.20
|
128.70
|
3.50
|
9.08
|
and
|
344.20
|
346.00
|
1.80
|
2.37
|
including
|
344.20
|
345.00
|
0.80
|
5.13
|
*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 in the Auro
Zone to determine capping levels for higher grade gold
intercepts. Average widths are calculated using a 0.10 g/t
gold cut-off grade with < 3 m of
internal dilution of zero grade.
New Yuma Zone Discoveries: Section 20950
- The Yuma Zone is located at a 1.4 kilometre step-out southeast
of the Bear-Rimini discovery along the LP Fault. A cross section of
the Yuma Zone is shown on Figure 5.
- The Yuma Zone is located less than one kilometre to the
northeast of the Dixie Limb and Hinge Zones.
- Results from discovery hole DC-12-07 were previously disclosed
on July 16, 2019 and included 2.0
metres of 10.57 g/t gold in previously unsampled drill core. Great
Bear extended historical drill hole DL-03-10 and encountered a wide
zone of high-grade gold at the predicted location in the footwall
of the LP Fault, less than 100 metres from the historical end of
the drill hole.
- Four drill holes were completed on two sections spaced 50
metres apart at Yuma, all of which
intersected the predicted geological contacts and associated gold
mineralization.
- Results are shown in Table 2, and include 12.50 metres
of 6.26 g/t gold, which includes 2.00 metres of 27.77 g/t gold.
- Follow-up drilling shows apparent continuity of mineralization
from the near-surface to depths of 480 vertical metres, which
remains open to extension.
- An image of high-grade visible gold mineralization intersected
at 480 vertical metres depth is shown on Figure 4. Multiple
gold zones were intersected in most drill holes.
- The same geological units were intersected at the Bear-Rimini,
Yuma and the new Auro Discovery
Zones.
Table 2: Newly disclosed assay intervals from the
Yuma Zone.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Section
|
BR-005
|
|
66.00
|
88.00
|
22.00
|
1.14
|
21000
|
including
|
82.00
|
88.00
|
6.00
|
3.85
|
and
including
|
82.00
|
85.90
|
3.90
|
5.74
|
and
including
|
84.00
|
85.90
|
1.90
|
10.48
|
and
including
|
85.00
|
85.90
|
0.90
|
17.28
|
|
179.30
|
184.80
|
5.50
|
3.95
|
|
179.30
|
183.30
|
4.00
|
5.39
|
including
|
180.30
|
183.30
|
3.00
|
7.10
|
and
including
|
182.30
|
183.30
|
1.00
|
14.81
|
and
including
|
182.30
|
182.80
|
0.50
|
23.15
|
BR-006
|
|
57.20
|
62.00
|
4.80
|
1.16
|
20950
|
including
|
58.20
|
60.70
|
2.50
|
2.05
|
and
|
87.00
|
92.00
|
5.00
|
0.53
|
and
|
179.00
|
204.50
|
25.50
|
0.30
|
including
|
196.00
|
197.00
|
1.00
|
3.83
|
BR-007
|
|
454.30
|
461.25
|
6.95
|
1.49
|
20950
|
including
|
458.75
|
460.75
|
2.00
|
3.60
|
and
including
|
458.75
|
459.25
|
0.50
|
8.18
|
|
500.80
|
530.65
|
29.85
|
0.35
|
and
|
554.50
|
568.40
|
13.90
|
1.12
|
including
|
554.50
|
556.85
|
2.35
|
2.75
|
and
including
|
555.20
|
556.20
|
1.00
|
6.19
|
and
including
|
555.20
|
555.70
|
0.50
|
9.88
|
and
including
|
566.05
|
567
|
0.95
|
5.76
|
and
|
624.10
|
625.75
|
1.65
|
14.13
|
including
|
624.10
|
625.10
|
1.00
|
22.76
|
and
including
|
624.10
|
624.60
|
0.50
|
35.65
|
DL-03-10
|
|
283.00
|
295.50
|
12.50
|
6.26
|
20950
|
including
|
288.50
|
295.50
|
7.00
|
11.08
|
and
including
|
289.50
|
291.00
|
1.50
|
13.80
|
and
including
|
293.00
|
295.00
|
2.00
|
27.77
|
and
including
|
294.00
|
295.00
|
1.00
|
47.39
|
and
including
|
294.00
|
294.50
|
0.50
|
82.30
|
*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,
insufficient drilling has been completed in the Yuma Zone to
determine capping levels for higher grade gold intercepts.
Average widths are calculated using a 0.10 g/t gold cut-off grade
with < 3m of internal dilution of
zero grade.
New Bear-Rimini Discoveries: Sections 22375 and 22325
- Two shallow drill sections were completed in the area of
Bear-Rimini Discovery hole DNW-011, which was previously disclosed
on May 28, 2019. DNW-011 intersected
2.00 metres of 194.21 g/t gold, 14.30 metres of 12.33 g/t gold, and
50.60 metres of 0.74 g/t gold.
- New drilling discovered wide zones of disseminated gold,
projecting to the near-surface, surrounding the high-grade gold
zones of DNW-011, as shown in Table 3, and Figures 6 and
7.
- The mineralized system generally appears to project to the
southeast, towards the Yuma Zone, 1.4 kilometres to the
southeast. Continuity between the two zones will be tested
during upcoming drilling. Follow-up drilling is required to
further delineate the high-grade zones.
- The Company sent core samples to Panterra Geoservices Inc. of
Surrey, British Columbia, for
petrographic (thin section) analysis, in order to help characterize
the gold system. The samples were also sent for additional
whole-rock geochemical analysis by XRF.
- Petrographic analysis suggests disseminated high-grade gold
mineralization appears to be associated with steeply-plunging
transposed quartz veins or stockworks. These have been highly
affected by deformation within the LP Fault zone, including
alignment of gold within and adjacent to deformation zones. This
structural preparation has provided predictable zone geometries
that Great Bear has successfully targeted along the LP
Fault.
- The rocks preserve the transition from upper greenschist to
amphibolite grade peak metamorphism, which is consistent with
brittle-ductile transitional strain conditions that facilitate
structural/mesothermal gold deposition in most gold districts of
this type.
- Petrographic analysis also confirmed the presence of highly
altered, albitized sediments proximal to the LP Fault. These
sediments provide a marker unit which identifies the
transition from mafic to felsic volcanic rocks and also defines
a drill-confirmed control of gold mineralization at and near
the contact between these sediments and silicified, albitized
felsic volcanic rocks.
Whole rock (XRF) analysis provided a multi-element dataset that
also helped identify key felsic stratigraphic sequences which are
the preferred host rocks for gold mineralization along the LP
Fault. These rocks are chemically and visually distinct, and
together with oriented core data and 3D magnetic susceptibility
modelling, the Company is successfully targeting higher grade zones
within the mineralized envelopes.
Drilling at the Bear-Rimini Discovery Zone is currently too
shallow to adequately test plunge models for high grade zones, and
will be extended both along strike and depth as the drill program
proceeds.
Table 3: Drill interval highlights from drilling of
the Bear-Rimini Discovery Zone. Drill sections are 50 metres
apart. Intervals of broad mineralization are provided from
previously reported drill hole DNW-011 using the interval
calculation criteria applied to the other drill holes.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Section
|
DNW-008
|
|
8.00
|
42.60
|
34.60
|
0.55
|
22375
|
DNW-011
|
|
72.50
|
93.00
|
20.50
|
8.48
|
and
|
98.00
|
169.6
|
71.60
|
0.60
|
BR-001
|
|
81.50
|
94.75
|
13.25
|
0.47
|
and
|
195.00
|
206.35
|
11.35
|
0.71
|
and
|
213.00
|
223.50
|
10.50
|
0.68
|
and
|
210.15
|
270.55
|
78.55
|
0.45
|
BR-002
|
|
64.55
|
96.50
|
31.95
|
0.35
|
including
|
73.00
|
80.00
|
7.00
|
0.68
|
and
including
|
73.00
|
73.50
|
0.50
|
3.22
|
and
including
|
79.50
|
80.00
|
0.50
|
4.61
|
and
|
177.00
|
182.90
|
5.90
|
0.68
|
BR-003
|
|
34.00
|
37.50
|
3.50
|
1.21
|
including
|
37.00
|
37.50
|
0.50
|
5.74
|
|
119.00
|
212.05
|
93.05
|
0.53
|
including
|
119.00
|
132.50
|
13.50
|
0.75
|
and
including
|
167.60
|
212.05
|
44.45
|
0.74
|
and
including
|
170.45
|
187.20
|
16.75
|
1.04
|
BR-004
|
|
62.50
|
104.00
|
41.50
|
0.47
|
22325
|
|
82.50
|
93.00
|
10.50
|
1.03
|
including
|
86.10
|
87.00
|
0.90
|
4.13
|
and
including
|
86.10
|
90.70
|
4.60
|
1.69
|
and
including
|
90.20
|
90.70
|
0.50
|
7.75
|
And
|
109.00
|
118.5
|
9.50
|
0.76
|
including
|
114.00
|
118.50
|
4.50
|
1.46
|
and
including
|
118.00
|
118.50
|
0.50
|
3.94
|
and
including
|
164.70
|
205.50
|
40.80
|
1.00
|
including
|
188.00
|
189.00
|
1.00
|
8.11
|
and
including
|
191.00
|
191.50
|
0.50
|
5.45
|
*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 in the Bear-Rimini Zone to
determine capping levels for higher grade gold intercepts.
Average widths are calculated using a 0.10 g/t gold cut-off grade
with < 3m of internal dilution of
zero grade.
Northwest Drill Test: Section 22325
- Two drill holes were completed 575 metres to the northwest of
the Bear-Rimini Discovery area. Drilling intersected four zones of
low-grade and anomalous gold mineralization in drill hole
BR-008.
- While the gold mineralized system clearly continues into this
area, the main target "marker unit" was not intersected. Results
are provided in Table 4, and a cross section is provided in
Figure 8.
- Alternating mafic and felsic units were intersected in this
area in an arrangement not seen in other locations drilled along
the LP Fault. The units may be complexly infolded, or the LP Fault
may contain tectonic delaminations of the surrounding units,
including the hanging wall mafic lithologies.
- More drilling is required in order to locate the key marker
unit and further evaluate the gold potential of the area.
- Follow-up drilling will be undertaken both between this section
and the Bear-Rimini Discovery area, and farther to the northwest
along the LP Fault as the drill program proceeds.
Table 4: Drill results from 575 metre step-out
northwest of Bear-Rimini.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
BR-008
|
|
87.50
|
88.00
|
0.50
|
0.72
|
BR-008
|
and
|
115.40
|
116.55
|
1.15
|
1.08
|
BR-008
|
|
221.50
|
224.50
|
3.00
|
1.09
|
BR-008
|
and
|
265.30
|
289.30
|
24.00
|
0.20
|
BR-008
|
including
|
274.00
|
279.50
|
5.50
|
0.50
|
BR-009
|
No significant
values
|
*Widths are drill indicated core length, as insufficient
drilling ahs been undertaken to determine true widths at this
time.
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, Auro 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 40,000 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 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.
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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