- Partner News
- Media Releases
- Mainstream News
January 13, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing $25 million fully funded 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.
This news release provides results from 22 additional LP Fault drill holes over 1.2 kilometres of strike length on 13 drill sections. Great Bear has now published results from 220 LP Fault drill holes and anticipates up to 400 LP Fault drill holes will be completed by the end of 2021. Figure 1 and Table 1.
The Company also provides new, detailed drill sections in this release, informed by higher-density drilling. Figure 3, Figure 4 and Figure 5.
Chris Taylor, President and CEO of Great Bear said, “We recently drilled a test panel of 15 densely spaced holes on 25 – 50 metre centres along 100 metres of strike length at the LP Fault to a depth of over 450 vertical metres. We were very pleased to observe the same continuity of high-grade and bulk tonnage gold mineralization at the finer scale as we had previously seen with more widely spaced drilling.”
Shallow High-Grade Results
Great Bear continues to intersect significant widths of high-grade gold mineralization. New shallow high-grade drill results between bedrock surface and approximately 150 vertical metres’ depth include:
An updated long section showing the number of drill holes completed within each segment along 4.2 kilometres of the central LP Fault gold zone is provided in Figure 1. All 211 drill holes completed on this long section have successfully intersected gold mineralization.
Figure 1: Updated long section of the LP Fault.
High-Density Drill Panel 100 m x 450 m
Great Bear is completing systematic high-density drilling along the LP Fault, including ongoing step-downs which continue to expand the mineralized zone at depth. Fifteen closely spaced drill holes on sections located 25 – 50 metres apart were completed along 100 metres of strike length on drill sections 20100 to 20200 at depths from bedrock surface to approximately 450 vertical metres.
High-grade and bulk-tonnage style gold intercepts were intersected at all sections and depths and demonstrate excellent continuity of the mineralized zone on these tight drill spacings. Results include:
Seven more widely-spaced drill holes were also completed along 500 metres of strike length on drill sections 20625 to 21150. This drilling is located 450 to 950 metres to the northwest of the holes listed for the previous drill panel. Results again demonstrate similar high-grade and bulk tonnage type gold mineralization on all sections, at depths from bedrock surface to approximately 420 vertical metres. Results Include:
Great Bear completed 112,000 metres of drilling in 2020 at a total cost of $23 million. With a minimum 2021 budget of $25 million, the Company plans to drill over 130,000 additional metres before year end. The Company also plans to further expand its drill program upon easing of Provincial COVID-19 restrictions in Northern Ontario. Great Bear currently has approximately $39 million of cash on hand.
Figure 2: Inclined plan view of the Dixie Project’s gold zones showing the trace of the long section in Figure 1.
Table 1: Assay results from this news release.
|Drill Hole||From (m)||To (m)||Width* (m)||Gold (g/t)||Section|
Table 1 Continued.
|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. Interval widths are calculated using a 0.10 g/t gold cut-off grade with up to 3 m of internal dilution of zero grade.
New Cross Sections
With many areas of the LP Fault now drilled on 25 to 75 metre centres, a more detailed understanding of gold zone geometries is emerging. Ongoing drill results demonstrate:
Figure 3: Cross section 20150 showing higher density drill spacing. A 400 metre scale bar has been added for reference.
Figure 4: Cross section 19925 showing up to five parallel gold zones. This drill section is located 225 metres to the southeast of section 20150 in the same gold zone). A 400 metre scale bar has been added for reference.
As shown in the Company’s VRIFY model posted to Great Bear’s web site at www.greatbearresources.ca, halos of low grade gold mineralization (0.10 g/t to 1.00 g/t gold) typically also occur adjacent to, and between, the highlight intervals published in news releases. All of the gold zones at the Dixie Project remain open to expansion.
Figure 5: Cross section 21100 illustrating gold system consolidation into a single zone on this section. This section and others will be drilled on 25 – 75 metre centres throughout 2021. A 400 metre scale bar has been added for reference.
A complete assay table for all LP Fault drill holes released to date is posted to the Company’s web site at www.greatbearresources.ca.
Drill collar location, azimuth and dip for drill holes included in this release are provided in the table below (UTM zone 15N, NAD 83):
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:
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 330 km2 of highly prospective tenure across 5 projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), the Sobel Property (earning a 100% interest), and the Red Lake North 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, 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
Mr. Knox Henderson
134 total views, 2 views today