TSX-V: GBR
VANCOUVER, Nov. 19, 2019 /CNW/ - Great Bear Resources Ltd.
(the "Company" or "Great Bear", TSX-V: GBR) today reported the
appointment of Mr. Calum Morrison to
the position of Vice President, Corporate Development.
Mr. Morrison has over 15 years of experience in the
mining industry, having worked both in corporate development and
investment banking roles. Mr. Morrison has managed and led
negotiations on numerous transactions with aggregate value in
excess $5 billion; including
acquisitions, divestments, joint ventures, and other strategic
initiatives. Most recently Mr. Morrison was a senior
member of Teck Resources Limited's Corporate Development team that
oversaw the origination, negotiation, and execution of numerous
transactions.
Mr. Morrison is a Chartered Financial Analyst (CFA) Charter
Holder, a Chartered Professional Accountant (CPA, CA), and holds a
Bachelor of Environmental Science honours degree from Dalhousie university.
Chris Taylor, President and CEO
of Great Bear said, "Over eighty percent of our district-scale
Dixie property has yet to be explored, and Great Bear will remain
focused on building upon its track record of exploration success
through 2020 and 2021. However, even at this early stage,
interest in our discoveries has been very strong. We are very
pleased to welcome Calum to our executive team as we are confident
he will help us maximize shareholder benefit through the growth of
strong relationships within our industry, as the Company continues
to advance the Dixie property."
The Company also reports it has granted an aggregate of 125,000
stock options to an employee of the Company, exercisable at
$6.57 per share for a period of five
years. Fifty percent of the options vest after an initial
four month hold period, while the remaining fifty percent vest on
November 18, 2020.
The Board of Directors has also resolved to make the warrants
from the September 2018 financing
which are exercisable at $1.75 and
expire on September 11, 2020,
transferrable. All other terms remain the same. If any of
these warrant holders wish to transfer their warrants, please
contact the Company's Corporate Secretary, Jeff Dare at: jdare@corexmanagement.com.
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.
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
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.