TSX-V: GBR
VANCOUVER, Dec. 16, 2019 /CNW/ - Great Bear Resources Ltd.
(the "Company" or "Great Bear", TSX-V: GBR) today reported new
results from its fully-funded 200,000 metre drill program at its
100% owned Dixie project in the Red
Lake district of Ontario.
Results are from the following zones along the LP Fault
target: "Gap" (new), Auro and Bear-Rimini. Highlights
of recent results include:
- 16.80 g/t gold over 4.15 metres (from 55.00 to 59.15
metres), and a separate interval of 1.25 g/t gold over 45.50 metres
(from 125.25 to 170.80 metres) in the new Gap zone, located between
the Bear-Rimini and Yuma zones.
- 48.67 g/t gold over 8.70 metres (from 251.60 to 260.30
metres), including 241.88 g/t gold over 1.20 metres in the Auro
zone.
- 1.13 g/t gold over 41.80 metres (from 217.70 to 259.50
metres), which includes 6.69 g/t gold over 3.50 metres, and 1.13
g/t gold over 37.95 metres (from 264.60 to 302.55 metres) in the
Bear-Rimini zone.
Chris Taylor, President and CEO
of Great Bear said, "With the discovery of high-grade gold
mineralization in the new Gap area, the last significant undrilled
segment of the LP Fault between the Bear-Rimini and Viggo zones is
being successfully filled. Remarkably, all (100%) of
the drill holes completed into the LP Fault structure to-date
have intersected similar gold mineralization and host geology.
Results continue to support continuity of gold mineralization
along more than 4 kilometres, which remains open along strike and
at depth. Our drilling strategy for 2020 is threefold: 1) We
plan to continue the discovery process through drill-testing of new
targets across the project, 2) we plan to continue significant
step-out drilling over 12 kilometres of the 18 kilometre LP Fault,
and 3) we will undertake concurrent closely spaced drilling in
areas where we have already successfully intersected gold."
The Company also announces that details regarding a
previously announced two percent Net Smelter Royalty ("NSR")
spinout to its shareholders will be provided in January 2020.
The New Gap Zone:
- Discovery hole BR-075 was completed between the Bear-Rimini and
Yuma zones within an approximately one kilometre long previously
undrilled gap (the Gap zone) in drilling and intersected
16.80 g/t gold over 4.15 metres, and 1.25 g/t gold over
45.5 metres. Gold was hosted by on-strike extensions of the
felsic volcanic geology and quartz-sericite-albite alteration seen
in the adjacent zones.
- BR-075 is located on a 200 metre step-out to the northwest from
the nearest drilling in the Yuma zone, and a 750 metre step-out to
the southeast from the nearest drilling with results in the
Bear-Rimini zone. As this hole was collared within the LP Fault
zone and drilled to the southwest, the northern boundary of the LP
Fault zone has not yet been intersected, and additional drilling
will be required to determine the overall thickness of gold
mineralization in this area. A map of updated drilling is provided
in Figure 1 and a cross section through the Gap zone in the
area of BR-075 is provided in Figure 2.
- The Gap zone is situated in what was the only remaining
significant (approximately 1 kilometre) undrilled segment of the 4
kilometres of the LP Fault tested to-date. While separate zone
names are provided by Great Bear for communication purposes,
results to-date suggest gold mineralization and host geology are
continuous along the four kilometres of the LP Fault drilled thus
far.
- Drill hole BR-074 was drilled on the same section as discovery
hole BR-075, but was located too close to the southern margin of
the LP Fault zone and intersected only the wide lower grade gold
mineralization typical of the zone's margins, assaying 0.36 g/t
gold over 40.40 metres (see Figure 2).
Auro Zone Results:
- One of the best holes drilled to-date at the Dixie
project has been completed in the Auro zone. Drill hole
BR-065 assayed 48.67 g/t gold over 8.70 metres, including
241.88 g/t gold over 1.20 metres. A cross section is provided
in Figure 3 and images of high-grade visible gold are
provided in Figure 4.
- BR-065 is located 188 metres to the southeast of Auro
zone drill hole BR-020 which yielded 10.65 g/t gold over
17.25 m, within a wider interval of
5.28 g/t gold over 42.0 metres, as originally reported on
September 3, 2019, and 155 metres
up-dip of the mineralized interval of drill hole BR-022 which
assayed 14.9 g/t gold over 3.55 metres.
- Once again, Great Bear's field crews have found favorable
alteration, geology, mineralization and visible gold
undocumented and un-assayed in historical drill core from the
LP Fault zone, this time in drill hole DL-2006-01 from the Auro
area. Drill core had been cross-piled in storage on the property
for 13 years. See Figure 5. Assay results from historical
drill hole DL-2006-01 are pending.
Bear-Rimini Zone Results:
- Drill holes BR-041 and BR-042 were completed
within the Bear-Rimini zone. Mineralized intervals were intersected
200 metres and 75 metres, respectively, vertically above the
mineralized interval in drill hole BR-043, which intersected 125.4
metres of 1.08 g/t gold as was originally reported by the Company
on October 10, 2019. A cross section
is provided in Figure 6.
- Drill hole BR-042 intersected 1.13 g/t gold over 41.80
metres, including 6.69 g/t gold over 3.50 metres, and a
second interval (separated from the previous interval by a 5.10
metre unmineralized gap) of 1.13 g/t gold over 37.95
metres.
- Drill hole BR-041 intersected a number of zones: 0.66
g/t gold over 10.00 metres, 0.67 g/t gold over 74.00 metres, and
1.05 g/t gold over 4.50 metres.
- This drill section has defined a zone of continuous
mineralization from the near-surface to approximately 400 metres
vertical depth.
- As observed at many locations along the LP Fault, the
apparent thickness and strength of gold mineralization increases
with depth and remains open to extension.
Additional drill holes have also now been completed further
along the projected strike of the LP Fault zone and within the Gap
zone from which assays are pending and will be released in the new
year. Great Bear plans to drill test approximately 12
kilometres of the 18 kilometre long LP Fault target during
2020.
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-038
|
|
48.70
|
92.80
|
44.10
|
0.68
|
20400
|
Auro
|
including
|
75.25
|
92.80
|
17.55
|
1.51
|
and
including
|
81.20
|
91.80
|
10.60
|
2.06
|
|
104.50
|
112.00
|
7.50
|
1.05
|
and
|
264.10
|
266.20
|
2.10
|
1.12
|
and
|
290.70
|
304.00
|
13.30
|
0.44
|
and
|
325.70
|
336.10
|
10.40
|
1.35
|
and
|
415.00
|
436.00
|
21.00
|
0.24
|
and
|
480.45
|
482.45
|
2.00
|
4.90
|
BR-039
|
|
40.00
|
43.00
|
3.00
|
3.23
|
20400
|
Auro
|
and
|
115.80
|
154.30
|
38.50
|
0.43
|
and
|
162.50
|
181.25
|
18.75
|
0.44
|
and
|
262.00
|
277.65
|
15.65
|
0.83
|
BR-041
|
|
58.00
|
68.00
|
10.00
|
0.66
|
22100
|
BR
|
and
|
72.60
|
146.60
|
74.00
|
0.67
|
including
|
107.00
|
114.50
|
7.50
|
1.28
|
and
|
243.00
|
247.50
|
4.50
|
1.05
|
BR-042
|
|
217.70
|
259.50
|
41.80
|
1.13
|
22100
|
BR
|
including
|
217.70
|
221.20
|
3.50
|
6.69
|
and
|
264.60
|
302.55
|
37.95
|
1.13
|
including
|
277.20
|
293.30
|
16.10
|
2.10
|
BR-047
|
|
195.20
|
226.75
|
31.55
|
0.54
|
21900
|
BR
|
and
|
293.10
|
311.70
|
18.60
|
0.31
|
and
|
324.00
|
337.85
|
13.85
|
0.29
|
BR-060
|
|
140.35
|
154.00
|
13.65
|
0.12
|
20100
|
Auro
|
and
|
244.00
|
276.00
|
32.00
|
0.31
|
and
|
284.00
|
333.00
|
49.00
|
1.74
|
including
|
295.00
|
311.00
|
16.00
|
3.82
|
and
including
|
302.00
|
311.00
|
9.00
|
6.30
|
and
including
|
306.70
|
311.00
|
4.30
|
11.95
|
and
|
417.60
|
418.70
|
1.10
|
3.52
|
BR-065
|
|
145.00
|
148.00
|
3.00
|
1.79
|
19850
|
Auro
|
and
|
152.60
|
160.60
|
8.00
|
0.79
|
and
|
182.35
|
194.00
|
11.65
|
1.68
|
and
|
186.80
|
187.50
|
0.70
|
10.69
|
and
|
228.70
|
243.40
|
14.70
|
2.34
|
including
|
236.40
|
241.20
|
4.80
|
6.32
|
and
|
251.60
|
260.30
|
8.70
|
48.67
|
including
|
252.55
|
256.90
|
4.35
|
97.00
|
and
including
|
252.55
|
256.30
|
3.75
|
112.15
|
and
including
|
253.60
|
254.80
|
1.20
|
241.88
|
and
|
380.80
|
384.40
|
3.60
|
1.17
|
including
|
382.10
|
383.10
|
1.00
|
3.65
|
BR-074
|
|
16.60
|
57.00
|
40.40
|
0.36
|
21150
|
Gap
|
and
|
80.00
|
88.60
|
8.60
|
0.53
|
BR-075
|
|
55.00
|
59.15
|
4.15
|
16.80
|
21150
|
Gap
|
and
|
125.25
|
170.80
|
45.55
|
1.25
|
including
|
132.25
|
151.50
|
19.25
|
2.05
|
and
including
|
139.25
|
144.15
|
4.90
|
5.30
|
*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, 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.
The photos are of selected intervals and are not
representative of the mineralization hosted on the property
ABOUT THE DIXIE PROJECT
The Dixie Project is 100% owned and consists of 9,140 hectares
of contiguous claims that extend over 22 kilometres, and is located
approximately 25 kilometres southeast of the town of
Red Lake (15minute drive),
Ontario. The project is accessible
year-round via a paved highway (which runs the length of the
northern claim boundary) and a network of well-maintained logging
roads.
The Dixie property hosts two principle styles of gold
mineralization:
- High-grade gold in quartz veins and silica-sulphide
replacement zones (Dixie Limb and
Hinge). Hosted by mafic volcanic rocks and localized near
regional-scale D2 fold axes. These mineralization styles are also
typical of the significant mined deposits of the Red Lake district.
- High-grade disseminated gold with broad moderate to lower
grade envelopes (LP Fault). Interpreted to traverse the Dixie
property for approximately 18 kilometres of strike length and
currently drilled along 4 kilometres of strike length. High-grade
gold mineralization is controlled by structural and geological
contacts, and moderate to lower-grade disseminated gold surrounds
and flanks the high-grade intervals. The dominant gold-hosting
stratigraphy consists of felsic sediments and volcanic units.
About Great Bear
Great Bear Resources Ltd. is a well-financed gold
exploration company managed by a team with a track record of
success in mineral exploration. Great Bear is focused
in the prolific Red Lake gold
district in northwest Ontario,
where the company controls over 300 km2 of highly
prospective tenure across 4 projects: the flagship Dixie
Project (100% owned), the Pakwash Property (earning a 100%
interest), the Dedee Property (earning a 100% interest), and the
Sobel Property (earning a 100% interest), all of which are
accessible year-round through existing roads.
QA/QC and Core Sampling Protocols
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. Drill hole location information is
provided below:
Drill Hole
|
Easting
|
Northing
|
Elevation
(m)
|
Dip
|
Azimuth
|
BR-038
|
457154
|
5634131
|
355.94
|
-52.9
|
213
|
BR-039
|
457088
|
5634011
|
357.85
|
-53.3
|
212
|
BR-041
|
455693
|
5635045
|
374.70
|
-55.3
|
225
|
BR-042
|
455768
|
5635123
|
374.73
|
-55.0
|
225
|
BR-047
|
455754
|
5634703
|
373.62
|
-52.0
|
39
|
BR-060
|
457508
|
5634126
|
359.90
|
-58.4
|
209
|
BR-065
|
457602
|
5634013
|
352.88
|
-55.2
|
205
|
BR-074
|
456439
|
5634357
|
359.41
|
-55.3
|
220
|
BR-075
|
456503
|
5634455
|
360.31
|
-55.0
|
220
|
Qualified Person and NI 43-101 Disclosure
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.