December 8, 2016 – Vancouver, BC, Canada. – Great Bear Resources (TSXV:GBR) is pleased to announce additional trench sampling results from its 50 percent owned BA project in the Golden Triangle district of British Columbia.
December 8, 2016 – Vancouver, BC, Canada. – Great Bear Resources (TSXV:GBR) is pleased to announce additional trench sampling results from its 50 percent owned BA project in the Golden Triangle district of British Columbia. At the BA project, the BA zone represents the surface exposure of a large VMS system that has been previously drilled-tested over 1.5 kilometres of strike. The zone is located between 2.5 and 4 kilometres from paved highway 37A, the main access route to Stewart, British Columbia, and remains open to extension. Complete trench results are presented in Table 1.
Highlighted results include:
- Trench “A” – 7.50 m of 5.31% Zn, 1.97% Pb and 132 g/t Ag within 15.0 m of 3.84% Zn, 1.25% Pb and 108 g/t Ag
- Trench “K” – 6.00 m of 3.2% Zn, 0.72% Pb and 120 g/t Ag within 12.00 m of 2.42% Zn, 0.55% Pb and 99 g/t Ag
- Trench “M” – 6.00 m of 0.35 g/t Au, 19.2 g/t Ag and 2.1% Cu defining a copper-gold target related to higher temperature VMS feeder style mineralization at the George Copper area of the BA claims
Table 1: Channel sample results from BA Zone. Trench M was completed at the George Copper Zone.
|Trench||From (m)||To(m)||Width (m)||Zinc (%)||Lead (%)||Silver (g/t)||Gold (g/t)||Copper (%)|
Figure 1: Drill hole composite results projected to surface from the 2006 – 2010 drilling of the BA Zone, with trench locations showing 2016 sampling by Great Bear. The BA Zone has been drilled across 1.5 kilometres of strike length, with the area of densest drilling is shown below.
Zones of enriched VMS mineralization of several percent combined zinc and lead plus silver have been intersected across more than 700 metres of strike through drilling and trenching, and remain open to extension into recently deglaciated areas. Drilling has intersected the broader VMS system across more than 1.5 kilometres of strike. A comprehensive 3D geological model is currently being created of the BA Zone to assist with planning for the 2017 exploration program.
The George Copper target, site of trench “M”, is located approximately 3 kilometres to the northwest of the BA Zone, and less than 5 kilometres to the north of IDM Mining Ltd.’s (TSX-V: IDM) Red Mountain property. It is situated 100 – 200 metres stratigraphically below the BA Zone and is believed to represent higher temperature, copper-gold dominated VMS mineralization of similar style to that which has also been intersected below the zinc-silver-lead horizon at BA. The George Copper property saw limited exploration and development in the early twentieth century but has not yet been drilled by Great Bear.
Great Bear’s Golden Triangle Projects
Great Bear’s Golden Triangle region assets are its 50% owned BA and Surprise Creek zinc-silver-lead properties.
The BA project is operated by Great Bear and consists of 24 claims totalling 9778 Ha straddling paved Highway 37A, the primary access route to Stewart, B.C. The property is underlain by stratigraphy that regionally hosts the Eskay Creek deposit, and contains VMS associated mineralization in several locations. In 2010, Great Bear completed a 82 hole, 15,000 metre drill program targeting a 1,200 metre by 800 metre zone of zinc-silver-lead mineralized stratigraphy. Results from drilling include 106.71 m (core length) of 81 g/t silver, 1.37% lead and 1.62% zinc in drill hole BA-2007-5, and the discovery of higher grade “feeder” zones such as 7.5 m of 8.41% zinc, 1.11% lead and 66 g/t silver in hole BA-2007-10, and 13.10 m of 4.11% zinc, 1.37% lead and 137 g/t silver in hole BA-2007-28.
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The Surprise Creek project is operated by Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) and consists of 19 claims totalling 7,472 Ha located immediately north of Highway 37A. The project is underlain by much of the same stratigraphy as BA. Among other targets, Surprise Creek hosts semi-massive to massive zinc-silver-lead mineralization at the “Ataman Zone”, which is currently being explored by Mountain Boy.
The Company would also like to announce that effective December 31, 2016, the Company’s current CFO Mr. Tony Ricci will resign from that position due to other commitments but will remain on the board as a director. Effective January 1, 2017, Mr. Robert Scott will replace Mr. Ricci as the Company’s CFO.
“We at Great Bear would like to thank Tony for his years of service in the role of CFO and look forward to continuing to benefit from his ongoing guidance as a director,” said Chris Taylor, Great Bear’s President and CEO.
Mr. Scott (CPA, CA, CFA) brings more than 20 years of professional experience in corporate finance, accounting and merchant and commercial banking. Mr. Scott earned his CFA in 2001, his CA designation in 1998 and has a B.Sc. from the University of British Columbia. He is a Founder and President of Corex Management Inc., a private company that provides accounting, administration, and corporate compliance services to both privately held and publicly traded companies, and has served on the management teams and boards of numerous Canadian publicly traded companies. He currently serves as the CFO of Riverside Resources Inc. (TSXV: RRI), Graphene 3D Lab Inc. (TSXV: GGG) and Nickel One Resources Inc. (TSXV: NNN) as well as being a board member of Genesis Metals Corp. (TSXV: GIS) and Mongolia Growth Group Ltd. (TSXV: YAK).
Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
Rock assay results are evaluated through a Quality Assurance and Quality Control (QAQC) procedure that includes the use of laboratory duplicates and standards with known precious and base metal values. Assaying was carried out by Activation Laboratories Ltd. of Kamloops, British Columbia.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 778-327-5799, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
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.
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