VANCOUVER, BC, June 24, 2020 /CNW/ - Great Bear Resources
Ltd. (the "Company" or "Great Bear") (TSX-V: GBR) (OTCQX: GTBAF) is
pleased to announce the addition of Mr. Michael Kenyon to its Board of Directors.
Mr. Kenyon has over 40 years experience in the international
mining industry. He holds B.Sc. and M.Sc. degrees in Geology
from the University of Alberta.
Mr. Kenyon has been a founding director of a number of mining
companies including Sutton Resources Ltd. (acquired by Barrick Gold
Corp.), Cumberland Resources Ltd. (acquired by Agnico Eagle Mines
Ltd.), and Canico Resource Corp. (acquired by Vale S.A.).
Most recently he was Chairman and Interim CEO of Detour Gold
Corp. (later acquired by Kirkland Lake Gold Ltd.) and Senior
Independent Director of Acacia Mining plc. In 2005 Mr. Kenyon
received the Developer of the Year award from the PDAC in
recognition of excellence in mining developments.
Important projects Mr. Kenyon helped develop include the
Bulyanhulu project in Tanzania,
the Meadowbank project in Nunavut,
Canada, the Onca Puma project in Brazil, and the Detour Lake project in
Chris Taylor, President and CEO
of Great Bear said, "Michael is a decorated industry veteran who
has overseen several major discoveries through the advanced
exploration, mine development, construction and operational
phases. This includes successfully concluding M&A
transactions collectively worth more than $4
billion. His extensive experience will prove invaluable to
Great Bear as we continue to advance the Dixie project, and we are
very pleased to have him join our team."
Michael Kenyon said, "Great
mining projects under enthused, capable guidance have been a
winning combination in my experience. So I'm especially excited by
the opportunity to work with the solid team of mining professionals
at Great Bear on such an exceptional gold project as Dixie."
The Company also reports it has granted an aggregate of 150,000
stock options to a director of the Company, exercisable at
$16.28 per share for a period of five
years. The options are subject to a four month hold
About the Dixie Project
The Dixie Project is 100% owned, comprised 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, Ontario. The project is accessible
year-round via a 15 minute drive on a paved highway which runs the
length of the northern claim boundary and a network of
well-maintained logging roads.
The Dixie Project hosts two principle styles of gold
- High-grade gold in quartz veins and silica-sulphide
replacement zones (Dixie Limb, Hinge
and Arrow). 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). The LP Fault is a significant
gold-hosting structure which has been seismically imaged to extend
to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by
Great Bear to have up to 18 kilometres of strike length on the
Dixie property. 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
ON BEHALF OF THE BOARD
Chris Taylor, President and
Cautionary note regarding forward-looking
This release contains certain "forward looking statements"
and certain "forward-looking information" as defined under
applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
Forward-looking information are based on management of the
parties' reasonable assumptions, estimates, expectations, analyses
and opinions, which are based on such management's experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be
Great Bear undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
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SOURCE Great Bear Resources Ltd.