TSX-V: GBR
VANCOUVER, BC, Aug. 4, 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.
Highlights Include:
- Two new drill sections were completed within a previously
undrilled 140 metre long segment of the LP Fault
- These sections contained significant thicknesses of very
shallow high-grade gold mineralization starting at the bedrock
surface including 81.22 g/t gold over 10.50 metres
- Repeated intersection of high-grade gold mineralization during
2020 LP Fault drilling has led to a new geological model
being prepared by the Company. Initial results are included in
this release.
Figure 1: Newly reported LP Fault
drill intervals plotted versus all previously reported LP Fault
drill intervals. Data is from 126 reported drill holes.
Chris Taylor, President and CEO
of Great Bear said, "New results from a 140 metre long previously
undrilled segment within the LP Fault include 81.22 g/t gold over
10.50 metres at bedrock surface, with excellent continuity of
mineralization once again observed across adjacent drill sections
and to depth on the same drill section. Over the past months
we have regularly intersected predictable high-grade gold intervals
at the LP Fault within the broad bulk-tonnage style gold system.
This positive development is underscored by both styles of
mineralization extending from bedrock surface to the limits of
current drilling at depth. We are currently building an
updated geological model to account for the majority of this
high-grade mineralization, and provide early descriptions of this
work in this release."
The Company has completed 126 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 Results Highlights
Two drill sections were completed within a previously
undrilled 140 metre long gap along the LP Fault; sections 20500
and 20450. High-grade gold and wider intervals of moderate
gold grades were seen in both sections. The location of drill
section 20500 is provided in Figure 2. New assay
results are provided in Table 1 and Figure 3, and
include:
- Drill hole BR-146 on drill section 20500
intersected 209.42 g/t gold over 3.95 metres, within a
broader interval of 81.22 g/t gold over 10.50 metres.
Mineralization began at the bedrock surface, at a down-hole
depth of 35.75 metres.
- A deeper interval in the same drill hole returned 2.08 g/t
gold over 33.10 metres at a downhole depth of 210.90
metres.
- Continuity of gold mineralization was demonstrated on the same
drill section with drill holes BR-143 and BR-145
intersecting gold mineralization 120 and 160 metres vertically
below BR-146, respectively.
- Highlights from BR-143 include 9.34 g/t gold over 4.55
metres, within a broader interval of 3.24 g/t gold over
21.00 metres, and 70.60 g/t gold over 0.50 metres,
within a broader interval of 1.50 g/t gold over 24.00
metres.
- Highlights from BR-145 include 15.25 g/t gold over 3.50
metres, within a broader interval of 11.47 g/t gold over
11.30 metres.
- Continuity of gold mineralization was also demonstrated on
adjacent drill section 20450, located 50 metres to the
southeast of BR-146.
- Drill hole BR-144 intersected 23.46 g/t gold over
8.80 metres, including a higher-grade sub-interval of 231.00
g/t gold over 0.50 metres. The total mineralized interval was
3.73 g/t gold over 65.00 metres.
Additional drill results were returned from the same mineralized
zone on drill section 20900, located 400 metres to the northwest of
drill hole BR-146. Highlights include:
- Drill hole BR-160 returned 18.31 g/t gold over 2.50
metres, within a broader interval of 4.62 g/t gold over
12.15 metres.
Figure 2: Location of drill sections
provided as section figures in this release.
Figure 3: Drill section 20500
showing highlighted results from BR-143, BR-145 and BR-146.
All individual assay intervals are provided from the reported
shallow high-grade interval in BR-146, together with an image of
visible gold mineralization from this drill hole. Images of
gold mineralization are from selected intervals and are not
representative of all of the gold mineralization on the
property.
Table 1: Current 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
|
BR-150
|
|
164.25
|
182.00
|
17.75
|
0.28
|
20300
|
and
|
221.00
|
227.00
|
6.00
|
1.12
|
and
|
402.00
|
425.00
|
23.00
|
0.78
|
including
|
403.30
|
404.80
|
1.50
|
3.26
|
and
|
413.50
|
414.00
|
0.50
|
5.45
|
BR-144
|
|
89.00
|
154.00
|
65.00
|
3.73
|
20450
|
including
|
130.00
|
144.25
|
14.25
|
15.31
|
and
including
|
132.50
|
141.30
|
8.80
|
23.46
|
and
including
|
140.60
|
141.30
|
0.70
|
231.00
|
and
|
373.00
|
380.50
|
7.50
|
1.08
|
and
|
507.00
|
516.85
|
9.85
|
1.04
|
BR-143
|
|
116.50
|
197.00
|
80.50
|
1.16
|
20500
|
including
|
149.50
|
150.50
|
1.00
|
5.09
|
and
including
|
173.00
|
194.00
|
21.00
|
3.24
|
and
including
|
182.00
|
191.00
|
9.00
|
6.01
|
including
|
186.45
|
191.00
|
4.55
|
9.34
|
and
|
204.30
|
204.80
|
0.50
|
16.50
|
and
|
355.00
|
379.00
|
24.00
|
0.23
|
and
|
384.00
|
407.00
|
23.00
|
1.27
|
and
|
425.05
|
426.55
|
1.50
|
24.00
|
including
|
425.55
|
426.05
|
0.50
|
70.60
|
BR-146
|
|
35.75
|
46.25
|
10.50
|
81.22
|
20500
|
including
|
38.15
|
42.10
|
3.95
|
209.42
|
and
including
|
38.15
|
38.90
|
0.75
|
583.00
|
and
including
|
41.10
|
42.10
|
1.00
|
315.43
|
and
|
210.90
|
244.00
|
33.10
|
2.08
|
including
|
227.30
|
240.00
|
12.70
|
4.83
|
and
including
|
227.30
|
228.50
|
1.20
|
31.18
|
and
|
331.50
|
340.95
|
9.45
|
1.81
|
BR-145
|
|
93.75
|
107.40
|
13.65
|
9.54
|
20500
|
including
|
95.60
|
106.90
|
11.30
|
11.47
|
and
including
|
95.60
|
96.10
|
0.50
|
85.70
|
and
including
|
99.85
|
103.35
|
3.50
|
15.25
|
and
including
|
102.85
|
103.35
|
0.50
|
52.80
|
and
|
182.00
|
192.00
|
10.00
|
1.13
|
and
|
352.80
|
353.80
|
1.00
|
5.98
|
and
|
373.00
|
377.50
|
4.50
|
2.43
|
and
|
448.00
|
456.00
|
8.00
|
0.94
|
BR-160
|
|
19.25
|
31.40
|
12.15
|
4.62
|
20900
|
including
|
21.00
|
31.40
|
10.40
|
5.34
|
and
including
|
21.00
|
23.50
|
2.50
|
18.31
|
and
|
142.50
|
151.50
|
9.00
|
0.76
|
*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.
Update on Geological Modeling
Great Bear continues to collect and interpret data to refine the
geological model for the entire Dixie property. To date, the
company has collected > 164,000 drill core samples and >
100,000 downhole data observations including alteration,
mineralization and > 36,000 oriented structural core
measurements. These data points together with ongoing
cross section and 3D geological modelling continue to guide
exploration drilling on the property.
While the Hinge and Dixie Limb
zones are being modelled as discrete vein / replacement zones
within dominantly mafic volcanic rocks, the LP Fault system
consists of a broad and laterally continuous zone of disseminated
gold mineralization which contains several discrete
foliation parallel zones of higher grade gold mineralization
with generally steeply-dipping planar geometries, hosted within
both felsic-intermediate volcanic ("FV") rocks and meta-sedimentary
("MS") rocks. The "sheet-like" geometry of these zones adds to
their predictability across drill sections and to depth and
continues to facilitate their targeting during ongoing
exploration.
The broad zone of gold mineralization at the LP Fault is
associated with specific rock types, geological contacts and
alteration assemblages. These rock types are recorded during
core-logging and contact relationships are later refined in the 3D
model once lithogeochemical data are available.
To date, two discrete high grade corridors extending to the
depths of current drilling, have been identified through
interpretation and re-logging of drill core from within the LP
Fault:
- "Upper Vein Zone" - A discrete zone containing up
to 60% deformed and transposed quartz veins. Gold occurs in
both veins and wall rock and is interpreted through multiple drill
holes to extend for more than 700 metres of strike, which remains
open to extension in all directions.
- "High Strain Zone" – A discrete zone of increased
foliation parallel strain where gold has been observed along
foliation planes (without quartz veining). In addition to the
high degree of strain, the zone is also marked by an increase in
silicification and local sulphide mineralization and is interpreted
through multiple drill holes to extend along a strike length of at
least 1.1 kilometres, which remains open to extension in all
directions.
Additional high-grade zones within the LP Fault are also being
interpreted and tested with on-going drilling.
Representative core photos of the Upper Vein Zone and High Strain
Zone are included in Figure_4.
The Company will release a comprehensive geological and
mineralization model update when current data collection and
modeling work on these and other high-grade gold zones is
complete.
Figure 4: Newly defined high-grade
gold domains within the LP Fault.
Top: Upper Vein Zone. Bottom: High Strain Zone. Note
the numerous deformed and transposed gold-bearing veins in the top
image, and the relative lack of veining in the bottom image.
Both intervals contain sheet-like, planar high-grade gold
concentrations that have been successfully targeted within and
between multiple drill sections.
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-143
|
457081
|
5634208
|
356
|
681
|
-60
|
211
|
BR-144
|
457118
|
5634163
|
354
|
667
|
-60
|
212
|
BR-145
|
457038
|
5634140
|
355
|
643
|
-60
|
211
|
BR-146
|
457015
|
5634096
|
356
|
540
|
-54
|
210
|
BR-150
|
457323
|
5634192
|
356
|
656
|
-55
|
209
|
BR-160
|
456672
|
5634259
|
357
|
591
|
-60
|
212
|
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.
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SOURCE Great Bear Resources Ltd.