Great Bear Resources Ltd. today reported results from its ongoing fully funded $21 million exploration program at its 100% owned flagship Dixie Project, in the Red Lake district of Ontario . Chris Taylor President and CEO of Great Bear said, “These results again demonstrate the exceptional grade potential and predictability of the LP Fault’s near surface bulk tonnage gold mineralization. Notably, drill hole BR-166 …
Great Bear Resources Ltd. (the “Company” or “Great Bear”) (TSXV: GBR) (OTCQX: GTBAF) today reported results from its ongoing fully funded $21 million exploration program at its 100% owned flagship Dixie Project, in the Red Lake district of Ontario .
Chris Taylor , President and CEO of Great Bear said, “These results again demonstrate the exceptional grade potential and predictability of the LP Fault’s near surface bulk tonnage gold mineralization. Notably, drill hole BR-166 intersected two wide zones of higher-grade gold mineralization, which combined averaged 3.76 g/t over a total of 103.4 metres at a vertical depth of 95 – 210 metres. Additionally, the best interval drilled along the eastern portion of the LP Fault grid to date was intersected in drill hole BR-180, which assayed 88.70 g/t gold over 1.35 metres.”
Dixie Project Highlights Include :
- Drilling continues to define gold mineralization on 50 – 75 metre centres along 5 kilometres of strike length of the LP Fault, to a vertical depth of approximately 500 metres. All (100%) of the 172 LP Fault drill holes completed to date have successfully intersected the structure and gold mineralization .
- New results include 4.61 g/t gold over 39.80 metres and 3.22 g/t gold over 63.60 metres on section 20100 towards the middle of the LP Fault zone in drill hole BR-166. These intervals occur from 117.20 to 157.00 metres and 221.60 to 285.20 metres downhole respectively . High-grade sub intervals include a high strain zone which assayed 28.26 g/t gold over 5.10 metres , including a strongly mineralized core of 121.00 g/t gold over 1.00 metre, and a transposed vein zone which assayed 19.78 g/t gold over 8.90 metres . Table 1 .
- Drilling on section 18850 , located 1.25 kilometres to the southeast of BR-166 has intersected the best gold interval to date within the eastern kilometre of the Company’s current grid drill program. Drill hole BR-180 assayed 88.70 g/t gold over 1.35 metres . Only 17 drill holes along 1.4 kilometres have been completed in this area to date, with drill fences spaced approximately 200 metres apart on average.
- An updated plan map of LP Fault drill results is provided in Figure 1 . An updated long section is provided in Figure 2 . A cross section through the new intercept in BR-180 is provided in Figure 3 .
Table 1 : Current LP Fault drill results. Drill sections are arranged from southeast (top of Table) to northwest (bottom of Table).
|Drill Hole||From (m)||To (m)||Width* (m)||Gold (g/t)||Section|
*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 up to 3 m of internal dilution of zero grade .
Updated drill collar locations, azimuths and dips, together with an updated complete assay table for the LP Fault drilling to-date will be posted to the Company’s web site at www.greatbearresources.ca . Drill collar locations, azimuths and dips for the drill holes included in this release are provided in the table below:
Figure 1 : Inclined plan view of drill results to date.
Figure 2 : Updated long section of LP Fault to date, showing highlighted assay intervals from BR-166 to the right of the section (Top right: 19.78 g/t gold over 8.90 m . Bottom right: 18.81 g/t gold over 8.20 m ).
Figure 3: Drill section 18850 showing near-surface mineralization in drill hole BR-181 and high-grade mineralization in drill hole BR-180 assaying 88.70 g/t gold over 1.35 metres. Results are from the sparsely drilled eastern 1.4 kilometres of the current grid drill program.
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 principal styles of gold mineralization:
- High-grade gold in quartz veins and silica-sulphide replacement zones ( Dixie Limb , Hinge and Arrow zones) . 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 km 2 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 Activation Laboratories in Ontario , an accredited mineral analysis laboratory, 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.
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 , President and CEO
Cautionary note regarding forward-looking statements
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 purposes.
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 incorrect.
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.
View original content to download multimedia: http://www.prnewswire.com/news-releases/great-bear-drills-wide-shallow-gold-intervals-at-lp-fault-3-22-gt-gold-over-63-60-m-and-4-61-gt-gold-over-39-80-m-in-same-drill-hole-301138795.html
SOURCE Great Bear Resources Ltd.
News Provided by PR Newswire via QuoteMedia