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Great Bear Resources (TSXV:GBR, OTC:GTBDF) (the “Company” or “Great Bear”) today reported drill results from the Dixie Hinge Zone (“DHZ”) and other new gold zones at its 100% owned Dixie Project in the Red Lake District of Ontario.
Great Bear Resources (TSXV:GBR, OTC:GTBDF) (the “Company” or “Great Bear”) today reported drill results from the Dixie Hinge Zone (“DHZ”) and other new gold zones at its 100% owned Dixie Project in the Red Lake District of Ontario.
The Company recently completed 30 metre and 100 metre step-down drill holes along the projected plunge and dip of two high-grade gold trends within the DHZ. Both hit identical styles of high-grade gold mineralization as above. The Hinge Zone appears to have significant high-grade depth potential.
Hinge Zone drill results are provided in Table 1. An updated DHZ long section is shown on Figure 1. An updated cross section is provided in Figure 2. Highlights of current DHZ drilling include:
- Drill hole DHZ-039 intersected 3.70 metres of 28.37 g/t gold, including a very high grade interval of 0.5 metres of 200.25 g/t gold (1.64 feet of 6.44 oz/t). This is the deepest high grade intercept in the DHZ to date.
- DHZ-039 is a 28 metre step-down along the down-plunge projection of the gold intercept in drill hole DHZ-029, which had returned 1.30 metres of 21.02 g/t gold as disclosed on March 21, 2019.
- Drill hole DHZ-033 intercepted multiple high-grade gold-bearing veins. Vein 1: 13.58 g/t gold over 3.10 metres, including 0.80 metres of 29.30 g/t gold. Vein 2: 4.10 metres of 8.22 g/t gold, including 0.55 metres of 46.57 g/t gold. Vein 3: 5.80 metres of 2.46 g/t gold, including 1.70 metres of 7.49 g/t gold.
- Drill hole DL-043 was drilled across the adjacent Dixie Limb Zone and into the Hinge Zone approximately 100 metres down-dip of previous DHZ drilling.
- DL-043 returned 1.50 metres of 11.65 g/t gold, including 0.50 metres of 34.07 g/t gold.
- 32 of 51 drill holes (63%) completed by Great Bear within the DHZ to date have intersected intervals containing greater than 15 g/t gold.
Chris Taylor, President and CEO of Great Bear said, “With 28 metre and 100 metre step-downs continuing to hit high grade gold mineralization, the DHZ discovery yields something exceedingly rare in our industry: the more Great Bear drills it, the more compelling the target becomes.”
Table 1: Most recent drill results from Hinge Zone drilling.
* reported width is determined to be 90-95% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data.
Figure 1: Composite long section through the DHZ (view to north) as drilled to-date showing currently reported drill results, and the location of recent step-out drilling. New results are highlighted in yellow.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5331/44594_353fb95874331b9b_002full.jpg
The Company continues to undertake a fully funded, 60,000 metre drill program that is expected to continue through 2019. In order to accelerate the program, a second drill rig was added in early 2019, and a third drill rig is expected in the near future. Approximately 40,000 metres of drilling remain in the current program.
Figure 2: Cross section through the DHZ (view to west) as drilled to-date, showing the approximately 100 metre wide corridor of multiple high-grade gold veins. New results are highlighted in yellow. The DL zone is also shown on the right of the image.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5331/44594_353fb95874331b9b_003full.jpg
Additional Gold Results
The Company also reports test drilling in other areas of the project has returned new gold results, summarized in Table 2. Updated property maps showing drill locations are provided in Figure 3 and Figure 4. The goal of regional drilling is the identify key geological features which may present further targets for DHZ or Dixie Limb (“DL”) style gold zones. Key results of regional drilling to-date include:
- Widespread variably gold-bearing veins form halos around high-grade veins in the DHZ. The total approximate true width of gold-bearing veining increases to over 120 metres (400 feet) as Great Bear drills further west in the Hinge Zone, and into the previously reported “DSL” and “DMS” areas. At present, results suggest the centre of high grade gold vein development is located west of Great Bear’s original Hinge Zone discovery, and possibly at depth below the DMS and DSL targets.
- Similar widespread gold-bearing veins have been intersected along a large deep-seated regional structure extending across approximately 20 kilometres of the property. The structure is a high strain zone forming the boundary between mafic and ultramafic rocks to the south west from largely felsic to intermediate volcanic rocks to the northeast. Three drill holes completed into this structure have all returned low to moderate grade gold, including 34.60 metres of 0.55 g/t gold, which included 2.50 metres of 2.25 g/t gold less than 10 metres from surface in DNW-008. Results are coded “DNE” and “DNW” in Table 2.
- A new “look-alike” to the Dixie Limb Zone sediment-hosted silica replacement zone with gold has been intercepted 400 metres to the west of the Hinge Zone. These drill holes are coded “DMS”.
- DMS-003 intersected 1.00 metre of 12.93 g/t gold within a broader interval of 4.65 metres of 3.04 g/t gold. The size, orientation and depth extent of this zone all remain unknown, as more drilling is required. This is a promising new target that appears to overlie the western, down-plunge projection of the Hinge Zone vein swarm, and has likely been mineralized by the same gold event.
- The previously described “South Limb Zone”, coded “DSL” in the Table 2, is interpreted to be the near-surface continuation of the westerly-plunging DHZ vein swarm.
- Very shallow drilling was completed with drill holes DSL-019 to DSL-021 testing from approximately 45 – 70 metres vertical depth. These successfully returned near-surface gold mineralization, including 2.00 metres of 4.08 g/t gold which includes 1.00 metre of 7.99 g/t gold. These holes are interpreted to be situated above the plunge of higher grade DHZ gold veins.
Chris Taylor said, “The DHZ vein swarm appears to affect at least several hundred metres of strike length, trending generally east-west roughly parallel to the local D2 fold axis. Steeply-plunging gold zones related to the DHZ veining are interpreted to project beneath the DSL and DMS areas, as shown on our sections and maps. Drill results to-date show strengthening alteration and gold grades with increasing depth in these areas, consistent with this model.”
Regarding regional exploration, Mr. Taylor said, “Our initial drilling into the property’s large deep-seated crustal structure/high strain zone has returned gold in all drill holes to-date across more than 2.5 kilometres of strike length. This gold system has a multi-kilometre footprint, and we are looking for structural intersections and geological contacts adjacent to this feature that could further concentrate gold, such as has occurred at the D2 fold axis near the DHZ and DL. In most mesothermal gold districts, it’s the second-order structures and geological contacts adjacent to the largest structures that localize high-grade gold. Several second-order targets of this type are present near our large structure at Dixie, and these will be targeted with future drilling.”
Table 2: Drill results from other targets across the Dixie property.
*All reported widths are drill indicated core length. Insufficient data has been collected at this time to determine true widths. **These drill holes have intersected mineralized sediments in the footwall of the local D2 axial planar fault located south the DL, and east of the DHZ. They may represent a new zone, or offset continuation of the DL.
Figure 3: Map of the DHZ area showing selected new drill results highlighted in yellow. The location of the long section included in this release is also shown, labeled “Long Section 1”. The location of the cross section included in this release is also labeled “Section 1”.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5331/44594_353fb95874331b9b_004full.jpg
Figure 4: Property map showing named zone locations discussed in this release, additional targets, and simplified geology.
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/5331/44594_353fb95874331b9b_005full.jpg
About Great Bear
The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10 kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in the West Madsen, 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 Ancaster 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 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. 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
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.
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