TSX-V: GBR
VANCOUVER, BC, July 6, 2020 /CNW/ - Great Bear Resources
Ltd. (the "Company" or "Great Bear"), (TSX-V: 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, "The most recent drilling along 650 metres of
strike length of the multi-kilometre LP Fault gold system has shown
mineralization typically expands at depth. As the system
broadens, we generally observe an increasing number of
high-grade gold intervals within broader halos of
moderate gold grades. Gold mineralization continues to
show excellent continuity within and between drill sections in all
locations tested to date. A new gold zone adjacent to
the LP Fault zone was also discovered at approximately 750 metres
vertical depth, consistent with our model of a greater than one
kilometre wide structural zone at Dixie that has the potential to
host additional new gold discoveries."
The Company has completed 120 of approximately 300 planned drill
holes into the LP Fault target, as part of its 5 kilometre long by
500 metre deep grid drill program. Current drill hole
locations and results are provided in Figure 1, and in
Table 1, respectively.
Deeper Drilling on Section
20000:
New drill hole BR-129 is the deepest drill hole on
section 20000. It intersected multiple mineralized intervals
along 173.10 metres of core length, highlights of which
include:
- 559.00 g/t gold over 0.50 metres, within a broader
interval of 10.06 g/t gold over 31.25 metres. The
total mineralized interval is 4.07 g/t gold over 80.50
metres. Figure 2.
- The 10+ g/t gold interval over more than 30 metres is the
widest high-grade gold interval drilled at the LP Fault to
date. Results suggest the mineralized zone is expanding
at depth.
- BR-129 extends known mineralization on this section from
bedrock surface to approximately 400 metres vertical
depth. This is one of the deepest drill holes
intersecting the LP Fault to date.
Continuity of gold mineralization is demonstrated
by shallower drilling on the same section as BR-129:
- New drill hole BR-139 intersected the same mineralized
zone 100 metres vertically above BR-129. Assays include
32.41 g/t gold over 3.75 metres, within a broader interval
of 13.18 g/t gold over 9.75 metres.
- Previously reported drill hole BR-137 (June 8, 2020) intersected the same zone 100
metres vertically above BR-139, assaying 31.33 g/t gold over 20.55
metres.
- All four of the drill holes on section 20000 contain
mineralized intervals of approximately 100 g/t gold over at least
0.50 metres, with two of the drill holes having intervals of
greater than 500 g/t gold over at least 0.50 metres
width. The mineralized zone projects to the bedrock
surface and remains open at depth.
Increased Zone Thickness on Section 20600:
A significant increase in apparent thickness of the LP
Fault gold mineralized zone was drilled 600 metres to the northwest
of BR-129 on drill section 20600:
- New drill hole BR-142 was completed in a 240 vertical
metre gap in drill section 20600. Figure 3.
- BR-142 intersected multiple gold intervals along 454.45
metres of core length.
- Together with previously reported drill hole BR-067
(February 13, 2020; also see Figure
3), drilling suggests a significant apparent thickening of
the LP Fault gold system on this section at increasing
depth.
- Highlight intervals include:
-
- 32.39 g/t gold over 4.25 metres, which included
112.00 g/t gold over 0.50 metres, and
- 26.49 g/t gold over 8.85 metres, which included
197.00 g/t gold over 1.00 metre.
- Both intervals above occur within a broader interval of
7.26 g/t gold over 53.50 metres.
- Additional gold intervals include 1.41 g/t gold over 26.00
metres, which includes 4.22 g/t gold over 4.50 metres,
and 1.54 g/t gold over 37.50 metres, which includes 4.85
g/t gold over 4.55 metres
- Previously reported drill hole BR-037 is located on the same
section 100 metres vertically above BR-142. It contained
multiple gold intervals along 366.95 metres of core length,
including 16.60 g/t gold over 6.0 metres, 35.96 g/t gold over 1.73
metres within a broader interval of 2.01 g/t gold over 66.06
metres, and 59.05 g/t gold over 1.60 metres within a broader
interval of 5.60 g/t gold over 25.25 metres (October 30, 2019).
- All four drill holes on section 20600 intersected similar gold
mineralization. Results suggest strong apparent continuity
of gold mineralization along approximately 500 vertical
metres which remains open at depth.
New Gold Zone on Section 20650:
The deepest drilling completed to date at the LP
Fault has intersected increased apparent thicknesses of gold
mineralization at greater depths, and discovered a new gold zone in
the hanging wall of the LP Fault:
- New drill hole BR-140 intersected multiple gold
intervals along 725.00 metres of core length.
Figure 4.
- Highlights include 15.45 g/t gold over 3.50 metres,
within a broader interval of 2.09 g/t gold over 66.00
metres, and 6.61 g/t gold over 4.50 metres, within a
broader interval of 1.61 g/t gold over 36.00 metres.
- At 867.00 to 877.00 metres down hole, corresponding to a
vertical depth of approximately 750 metres, drill hole BR-140
intersected a new gold zone within the mafic hanging wall rocks
immediately adjacent to the LP Fault zone, assaying 7.20 g/t
gold over 1.50 metres, within a broader interval of 1.15
g/t gold over 10.00 metres.
- Future drilling of the LP Fault will include similar drill
holes that penetrate into the LP Fault hanging wall at depth, in
order to test for extensions to this new zone, and potential
additional parallel zones.
- New drill hole BR-141 intersected the LP Fault zone 100
metres vertically below BR-140 and returned multiple gold intervals
along 482.90 metres of core length. Highlight
intervals include (also refer to Table 1):
-
- 28.60 g/t gold over 2.00 metres, within a broader
interval of 3.58 g/t gold over 22.00 metres; and
- 61.91 g/t gold over 1.00 metre, within a broader
interval of 2.47 g/t gold over 77.70 metres; and
- 5.29 g/t gold over 7.50 metres.
- Drill section 20650 also includes previously reported drill
hole BR-118 which returned 18.57 g/t gold over 13.00
metres, including 132.00 g/t gold over 0.50
metres, within a broader interval of 2.67 g/t over
104.15 metres (May 4,
2020).
- All three drill holes on section 20650 intersected similar gold
mineralization. Results suggest strong apparent continuity
of gold mineralization along approximately 400 vertical
metres which remains open at depth.
Approximately 180 drill holes remain to be completed as part of
the Company's ongoing fully funded 2020 LP Fault drill
program. Additional drill holes are also planned into the
Dixie Limb, Hinge and Arrow zones, in addition to other regional
targets. The Company remains fully funded for this work.
Figure 1: Location of drill sections
provided as figures in this release.
Table 1: Current drill
results. Drill sections are arranged from southeast (top of Table)
to northwest (bottom of Table), corresponding to the map provided
in Figure 1.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Drill
Section
|
BR-129
|
|
231.90
|
259.00
|
27.10
|
2.01
|
20000
|
including
|
244.70
|
249.50
|
4.80
|
8.00
|
and
including
|
248.50
|
249.50
|
1.00
|
25.63
|
and
including
|
257.00
|
257.50
|
0.50
|
20.70
|
and
|
346.50
|
427.00
|
80.50
|
4.07
|
including
|
388.75
|
420.00
|
31.25
|
10.06
|
and
including
|
403.00
|
405.00
|
2.00
|
143.63
|
and
including
|
404.50
|
405.00
|
0.50
|
559.00
|
BR-139
|
|
185.50
|
193.00
|
7.50
|
12.77
|
20000
|
including
|
186.75
|
188.25
|
1.50
|
63.17
|
and
including
|
187.25
|
187.75
|
0.50
|
134.00
|
and
|
284.50
|
306.75
|
22.25
|
2.44
|
including
|
293.25
|
304.00
|
10.75
|
4.22
|
and
including
|
298.50
|
304.00
|
5.50
|
6.22
|
and
|
310.50
|
320.25
|
9.75
|
13.18
|
including
|
314.25
|
319.75
|
5.50
|
22.81
|
and
including
|
316.00
|
319.75
|
3.75
|
32.41
|
and
including
|
317.70
|
318.20
|
0.50
|
96.50
|
and
including
|
316.00
|
317.00
|
1.00
|
52.10
|
BR-142
|
|
126.00
|
179.50
|
53.50
|
7.26
|
20600
|
including
|
136.75
|
141.00
|
4.25
|
32.39
|
and
including
|
136.75
|
137.25
|
0.50
|
112.00
|
and
including
|
140.00
|
141.00
|
1.00
|
51.27
|
and
including
|
164.50
|
173.35
|
8.85
|
26.49
|
and
including
|
169.40
|
173.35
|
3.95
|
57.32
|
and
including
|
172.35
|
173.35
|
1.00
|
197.00
|
and
|
183.00
|
209.00
|
26.00
|
1.41
|
including
|
184.00
|
188.50
|
4.50
|
4.22
|
and
|
213.00
|
250.50
|
37.50
|
1.54
|
including
|
213.70
|
218.25
|
4.55
|
4.85
|
and
including
|
231.00
|
237.50
|
6.50
|
2.67
|
and
|
274.00
|
321.50
|
47.50
|
0.42
|
and
|
497.00
|
498.00
|
1.00
|
3.46
|
and
|
504.00
|
505.00
|
1.00
|
3.77
|
and
|
532.80
|
580.45
|
47.65
|
0.42
|
BR-140
|
|
151.00
|
187.00
|
36.00
|
1.61
|
20650
|
including
|
162.00
|
181.70
|
19.70
|
2.42
|
and
including
|
164.00
|
168.50
|
4.50
|
6.61
|
and
|
199.00
|
265.00
|
66.00
|
2.09
|
including
|
219.00
|
257.70
|
38.70
|
3.31
|
and
including
|
219.00
|
231.00
|
12.00
|
6.04
|
and
including
|
227.50
|
231.00
|
3.50
|
15.45
|
and
including
|
253.00
|
257.70
|
4.70
|
6.88
|
and
including
|
257.20
|
257.70
|
0.50
|
40.10
|
and
|
867.00
|
877.00
|
10.00
|
1.15
|
including
|
874.50
|
876.00
|
1.50
|
7.20
|
BR-141
|
|
194.00
|
216.00
|
22.00
|
3.58
|
20650
|
including
|
199.50
|
208.00
|
8.50
|
8.70
|
and
including
|
206.00
|
208.00
|
2.00
|
28.60
|
and
including
|
207.00
|
208.00
|
1.00
|
52.90
|
and
|
219.50
|
333.70
|
114.20
|
1.80
|
including
|
239.00
|
316.70
|
77.70
|
2.47
|
and
including
|
271.00
|
312.60
|
41.60
|
3.87
|
and
including
|
273.50
|
274.50
|
1.00
|
61.91
|
and
including
|
273.50
|
274.00
|
0.50
|
120.00
|
and
including
|
297.00
|
304.50
|
7.50
|
5.29
|
and
|
675.90
|
676.90
|
1.00
|
3.83
|
*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.
Figure 2: Cross section 20000.
BR-129 contains the widest high-grade gold interval drilled along
the LP Fault to date. All drill holes on this section contain
intercepts of greater than 100 g/t gold, and apparent continuity of
mineralization for approximately 400 vertical metres.
Figure 3: Drill section 20600 showing
BR-142 and adjacent drill holes suggesting vertical continuity of
approximately 400 metres from surface which remains open to
extension and is generally widening with depth.
Figure 4: Drill section 20650 showing
BR-140 and BR-141. The new hanging wall zone hosted by mafic
rocks is shown at depth adjacent to the LP Fault zone.
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:
Hole
ID
|
Easting
|
Northing
|
Elevation
|
Depth
|
Dip
|
Azimuth
|
BR-129
|
457633
|
5634143
|
360
|
705
|
-62
|
209
|
BR-139
|
457599
|
5634085
|
358
|
468
|
-60
|
208
|
BR-140
|
456955
|
5634239
|
356
|
958
|
-68
|
214
|
BR-141
|
456985
|
5634286
|
356
|
864
|
-68
|
213
|
BR-142
|
457041
|
5634242
|
357
|
645
|
-60
|
213
|
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
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 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 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"
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-expands-lp-fault-gold-system-at-depth-10-06-gt-gold-over-31-25-m-within-4-07-gt-gold-over-80-50-m-and-57-32-gt-gold-over-3-95-m-within-7-26-gt-gold-over-53-50-m-301088254.html
SOURCE Great Bear Resources Ltd.