TSX-V: GBR
VANCOUVER, Oct. 30, 2019 /CNW/ - Great Bear Resources
Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new
results from its ongoing, fully-funded 90,000 metre drill program
at its 100% owned Dixie project in the Red Lake district of Ontario. Three
new gold discoveries have been made and drill results disclosed
in this news release are from the following zones along the LP
Fault: Yauro (new zone), Viggo (new zone), Bear-Rimini, Northwest
of Bear Rimini; and along the North Fault (new zone), which runs
parallel to the LP Fault. Highlights include:
- The new "Yauro Zone" is located between the Yuma and
Auro discoveries along the LP Fault. A significant structural
dilation has localized multiple high-grade gold mineralized
intervals. Assay results are shown in Table 1.
- The Yauro Zone consists of several gold intervals spanning
two drill holes collared 125 metres apart, with intervals of
mineralization observed over 300 metres of apparent width,
as shown in cross section on Figure 1.
- Results include: 32.00 g/t gold over 2.65 metres and 21.33
g/t gold over 3.30 metres, within a wider interval of 5.14
g/t gold over 37.40 metres; 30.66 g/t gold over 3.45
metres, within a wider interval of 5.60 g/t gold over 25.25
metres; and 35.96 g/t gold over 1.73 metres, within a
wider interval of 2.01 g/t gold over 66.20 metres.
- Gold mineralization extends to within metres of surface
in both discovery drill holes.
- The gold system at Yauro appears to increase in apparent
width and number of gold intervals with increasing depth. This
pattern is observed in most areas drilled to-date along the LP
Fault.
- The zone occurs near an inflection point in the LP Fault
system, where the strike direction of the main structure
changes. This is also a critical gold control at other large
Archean gold deposits.
- Drilling one kilometre southeast of the Auro Zone in the new
"Viggo Zone" has extended the LP Fault gold mineralized
system to 4 kilometres of strike length, which remains open to
extension.
- The first drill hole testing the "North Fault" has
intersected Hinge Zone style gold-bearing quartz veins.
Follow-up drilling will test this new 18 kilometre long target
which parallels the LP Fault.
Table 1: Most
recent results from drilling along 4 kilometres of the LP Fault
target.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Section
|
Area
|
BR-024
|
|
558.50
|
566.00
|
7.50
|
1.17
|
18950
|
Viggo
|
including
|
558.50
|
560.00
|
1.50
|
5.32
|
and
|
573.00
|
577.85
|
4.85
|
0.60
|
and
|
617.90
|
625.00
|
7.10
|
0.75
|
BR-026
|
|
54.50
|
57.50
|
3.00
|
1.49
|
19150
|
Viggo
|
including
|
57.00
|
57.50
|
0.50
|
5.14
|
BR-027
|
and
|
292.00
|
293.00
|
1.00
|
1.66
|
19150
|
Viggo
|
BR-028
|
|
50.80
|
58.00
|
7.20
|
1.98
|
19350
|
Viggo
|
including
|
50.80
|
52.00
|
1.20
|
11.03
|
Including
|
50.80
|
51.30
|
0.50
|
25.50
|
BR-029
|
|
242.75
|
254.00
|
11.25
|
0.21
|
19350
|
Viggo
|
and
|
297.00
|
304.50
|
7.50
|
0.28
|
BR-036
|
|
55.60
|
93.00
|
37.40
|
5.14
|
20600
|
Yauro (Between Yuma
and Auro)
|
including
|
58.80
|
77.00
|
18.20
|
10.32
|
and
including
|
63.30
|
66.60
|
3.30
|
21.33
|
and
including
|
71.85
|
76.00
|
4.15
|
22.74
|
and
including
|
71.85
|
76.00
|
2.65
|
32.00
|
BR-037
|
|
68.50
|
74.50
|
6.00
|
16.60
|
20600
|
Yauro (Between Yuma
and Auro)
|
including
|
68.50
|
70.80
|
2.30
|
28.61
|
and
including
|
74.00
|
74.50
|
0.50
|
66.06
|
and
|
86.00
|
152.20
|
66.20
|
2.01
|
including
|
89.97
|
91.70
|
1.73
|
35.96
|
and
including
|
89.97
|
90.47
|
0.50
|
111.84
|
and
|
189.00
|
214.25
|
25.25
|
5.60
|
including
|
191.30
|
193.30
|
2.00
|
13.32
|
and
including
|
206.15
|
214.25
|
8.10
|
13.73
|
and
including
|
206.65
|
210.10
|
3.45
|
30.66
|
and
including
|
206.65
|
208.25
|
1.60
|
59.05
|
|
and
|
391.80
|
435.45
|
43.65
|
0.65
|
|
including
|
393.20
|
404.20
|
11.00
|
1.67
|
BR-040
|
|
360.50
|
432.10
|
71.60
|
1.39
|
22250
|
Bear-Rimini
Discovery
|
including
|
361.50
|
365.50
|
4.00
|
5.57
|
including
|
401.30
|
422.00
|
20.70
|
2.22
|
BR-044
|
|
171.50
|
180.00
|
8.50
|
0.56
|
22450
|
Northwest of
Bear-Rimini
|
and
|
244.00
|
250.00
|
6.00
|
2.68
|
including
|
244.00
|
246.00
|
2.00
|
5.16
|
and
|
284.00
|
322.60
|
38.60
|
0.20
|
and
|
378.60
|
379.60
|
1.00
|
4.26
|
BR-045
|
|
287.45
|
323.00
|
35.55
|
1.05
|
22450
|
Northwest of
Bear-Rimini
|
including
|
317.00
|
323.00
|
6.00
|
2.50
|
and
|
389.35
|
420.50
|
31.15
|
0.41
|
BR-046
|
|
284.60
|
285.10
|
0.50
|
34.00
|
22350
|
Northwest of
Bear-Rimini
|
and
|
364.20
|
369.55
|
5.35
|
1.36
|
and
|
377.15
|
388.00
|
10.85
|
0.81
|
and
|
401.35
|
429.50
|
28.15
|
0.51
|
*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.
Average widths are calculated using a 0.10 g/t gold cut-off grade
with < 3 m of internal dilution of
zero grade.
Chris Taylor, President and CEO
of Great Bear said, "The new high grade Yauro discovery occurs
within a predicted zone of increased structural dilation
between the Yuma and Auro discoveries, and is coincident with one
of the recently identified geochemical (SGH) anomalies. I would
encourage investors to refer to the cross sections provided in
Figures 1, 2 and 3 to gain context. The LP Fault discovery
including the Yauro zone are not typical of vein-hosted
Red Lake style gold deposits, but
are flanked to the north and south by Red
Lake style gold-bearing veins at the Hinge/Limb and new
North Fault discoveries. Two drill holes collared 125 metres
apart were required to cross what we interpret as a major dilatancy
or "blow" along the LP Fault at Yauro. Finding something this
large and high-grade within metres of the surface is one of the
most important discoveries on the project to-date. And like
other areas of the LP Fault, the high-grade is flanked by wide
intervals of moderate grade gold mineralization that could be very
important for the project as it progress to more advanced
stages."
Yauro Zone Discovery Along LP Fault
The new Yauro Zone discovery is located half way between the
Yuma and Auro Zones along the LP Fault 380 metres to the southeast
of the Yuma Zone discovery, and 390 metres to the northwest of the
Auro Zone discovery. The Yauro Zone occurs near a deflection
point in the trend of the LP Fault, as shown on Figure
2. The LP Fault trends more northwesterly to the west of
Yauro, and more east-westerly to the east of Yauro.
This discovery marks the largest apparent concentration of
near-surface high-grade gold intersected at the Dixie property
to-date. The relationship between the Yauro Zone, LP Fault,
Dixie Limb and Hinge Zones is shown in cross section on Figure
3. Coarse visible gold was observed in several intervals at the
Yauro Zone, as shown on Figure 4.
Oriented structural data collected during drilling shows that
the Yauro Zone trends northwest to southeast, parallel to the LP
Fault. Discovery holes BR-036 and BR-037 were drilled towards
the southwest, at right angles to the mineralized trend.
Extension of LP Fault Gold System to 4 Kilometres of Strike
Length:
The Company continues to step-out systematically along strike of
the LP Fault to the east.
- A series of three reconnaissance drill fences spaced 200
metres apart with a total of 5 drill holes were completed
approximately one kilometre to the southeast of the Auro Zone along
the projected trace of the LP Fault, in the "Viggo Zone"
area.
- All drill holes encountered the expected LP Fault related
deformation and gold mineralization, including visible gold in 4 of
the 5 holes and the associated quartz-sericite-albite-sulfide
mineralization that is seen elsewhere along the LP Fault. An
example of the observed visible gold mineralization is shown on
Figure 5.
- Prior to drilling, high resolution airborne geophysics
suggested the favorable host rocks could be thinner at surface in
this location. Drilling confirmed this, and also detected
increased strength and width of gold mineralization, alteration
and marker horizon thickness at depth, and to the southeast of the
Viggo Zone.
- Follow-up drilling will be undertaken below the initial
reconnaissance holes, and farther along strike of the LP Fault,
where the marker metasedimentary sequence has been mapped at
surface approximately 1.3 kilometres to the southeast of this
area.
New "Hinge Zone" Style Gold Veins Drilled at North
Fault:
A single test drill hole, BR-032, was completed across the North
Fault, which is a major geophysical lineament that parallels the LP
Fault for over 18 kilometres of strike length, up to 1.2 kilometres
to the north of the LP Fault. The drill hole discovered
gold-bearing quartz veins similar to those observed at the Hinge
Zone within 3 metres of the projection of the North Fault, as shown
on Figure 6.
The main quartz vein assayed 1.39 g/t gold over 2.70 metres with
an individual assay of 2.32 g/t over 0.50 metres. Of note,
the vein was hosted by similar mafic volcanic units to those
observed at the Hinge Zone. The location of the North
Fault gold vein drill intercept is also shown in cross section of
Figure 3.
Chris Taylor said, "This was a
surprising result, and has the potential to become a significant
discovery, since this target is over 18 kilometres long and is well
defined geophysically. Prior to drilling, we had expected
to see another deformation zone like the LP Fault, but instead the
drill hole intersected minimally sheared rocks with gold
mineralized quartz veins similar to the Hinge Zone, hosted by
similar mafic volcanic rocks to those we see at Hinge Zone and
Dixie Limb. At both the Hinge and Dixie Limb zones,
high-grade gold is concentrated in steeply-plunging zones within
the quartz veins. We now need to complete a grid of test
holes along the North Fault to determine if such concentrations
exist there as well, and what their orientations and spatial
distributions are."
Follow-up drilling will be carried out along the North Fault
during the winter 2019 to 2020 drill program.
About Ongoing Exploration
Approximately 18,000 metres remain to be drilled in the
Company's current fully-funded 90,000 metre drill program.
Three drill rigs are currently active at the Dixie project.
Great Bear's exploration team has observed gold mineralization
to be largely continuous over several kilometres of the LP Fault,
including between the Bear-Rimini, Yuma, Yauro, Auro and Viggo
discoveries, and is currently completing drill fences between
already drilled areas to establish continuity. The Company
will continue to undertake widely spaced reconnaissance step-out
drilling along the LP Fault until the limits of the gold
mineralized system are reached.
Sub-zone names like Bear-Rimini and Yauro will continue to be
utilized to communicate where discoveries and ongoing drilling
occur. The LP Fault is a geophysically-defined target that
extends along approximately 18.5 kilometres of strike length at the
Dixie property. 4 kilometres of this strike length have been
tested to date, with gold observed and/or detected in all drill
holes that have successfully intersected the structure.
A number of additional regional targets outside of the LP Fault
also have yet to be tested across the property, including regional
D2 fold axes such as that which hosts the Hinge Zone, and Soil
Geochemical Hydrocarbon survey targets which were disclosed by the
Company on October 10, 2019.
Webinar to Discuss Exploration Progress
A webinar will take place on Wednesday,
November 6th at 4:05 pm
EST/ 1:05 pm PST where
Chris Taylor will update
shareholders on the Company's recent progress. Chris will be
available to answer questions following the presentation.
Online registration and participation details may be found at
the following link:
https://attendee.gotowebinar.com/register/3742057385783291395?source=GBR
For those unable to participate, a recording of the webinar
will be posted to the Company's web site following the live
broadcast.
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 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 hosts different styles of gold
mineralization. High-grade gold-bearing quartz veins and
silica-sulphide replacement zones hosted by mafic volcanic rocks,
and localized near regional-scale D2 folds occur at the Dixie Limb
and Hinge Zones. These mineralization styles are also typical
of the significant mined deposits of the Red Lake district.
The LP Fault is large a trans-crustal deformation zone that is
interpreted to traverse the Dixie property for approximately 20
kilometres of strike length and has been drilled along 4.0
kilometres of strike length to-date. It hosts high-grade gold
mineralization that is controlled by structural and geological
contacts, and low to moderate grade disseminated gold that
surrounds and flanks the high-grade intervals. The dominant
gold-hosting stratigraphy consists of felsic sediments and volcanic
units.
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.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at
604-646-8354, or Mr. Knox Henderson, Investor Relations, at
604-551-2360.
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
View original content to download
multimedia:http://www.prnewswire.com/news-releases/great-bear-drills-new-near-surface-high-grade-yauro-zone-discovery-at-dixie-10-32-gt-gold-over-18-20-m-5-60-gt-gold-over-25-25-m-and-16-60-gt-gold-over-6-00-m-300948414.html
SOURCE Great Bear Resources Ltd.