TSX-V: GBR
VANCOUVER, Aug. 1, 2019 /CNW/ - Great Bear Resources Ltd.
(the "Company" or "Great Bear", TSX-V: GBR) today provided an
update on ongoing exploration at its 100% owned Dixie property in
the Red Lake district of
Ontario.
The Dixie property contains four high-grade gold zones
which extend to the near-surface, including two recently
announced discoveries, the Bear-Rimini and Yuma
Zones. The two new zones are hosted within,
and adjacent to, a major crustal-scale deformation zone (see news
releases of May 28 and July 16, 2019) called the "LP
Fault". This structure is a major interpreted gold
mineralization control that traverses the Dixie claims along
approximately 18 kilometres of strike length.
Highlights of current exploration activities include:
- All three drill rigs have now been deployed along the LP
Fault.
- The Company tested a new geochemical survey technique
- Spaciotemporal Geochemical Hydrocarbon
("SGH") - that successfully located bedrock gold
mineralization below glacial till cover in the Hinge and
Dixie Limb areas.
- An extensive SGH survey consisting of 2,100 samples was
subsequently completed over 4 kilometres of strike length of the LP
Fault, as the area is also covered by thin till cover.
Results are expected in 4 – 6 weeks.
- Drill results are pending from the Bear-Rimini, Yuma, Hinge,
Dixie Limb and DNE target
areas.
Chris Taylor, President and CEO
of Great Bear said, "While the Hinge and Dixie Limb Zones continue
to generate excellent high-grade gold results and will remain
priority drill targets, early drilling of the LP Fault has also
been very encouraging, and we plan to move all three of our drills
to various targets along the structure as we await backlogged
assays from the Hinge and Limb. The area of the LP Fault and
North Fault that is prospective for gold mineralization covers a
district-scale target of approximately 50 square kilometres that is
simply too large to explore through drilling alone. The
area's bedrock is also 99% covered by a thin, 2 to 10 metre deep
glacial till blanket, and hence cannot be directly mapped.
Great Bear has now successfully tested a new
geochemical method that is potentially capable of locating
bedrock gold drill targets beneath the till cover, and could
accelerate our exploration of this exciting new discovery."
New Geochemical Survey Technique - SGH
In May 2019, Great Bear completed
a 145 sample test/orientation SGH survey across its Hinge and Dixie
Limb Zones. SGH survey details are provided at the end of
this release.
Independent analysis of the SGH survey results provided by
Activation Laboratories Ltd. successfully identified both areas of
underlying bedrock gold mineralization at the Hinge and Dixie
Limb, as shown on Figure 1. A cross section
through both zones showing redox boundaries and associated gold
mineralization as predicted by the SGH survey and interpreted by
Great Bear is provided in Figure 2.
The Company subsequently collected over 2,100 SGH samples
during June and July along 4 kilometres strike length, and 1
kilometre width of the LP Fault and North Fault. A map of the
geochemical survey is provided in Figure 3. Results of
the survey will be used to inform ongoing drilling, and will
provide a cost-effective supplement to the concurrent drill program
and existing high-resolution geophysical database.
Should the SGH method successfully predict bedrock gold
mineralization along the LP and North Faults as it did at the Hinge
and Dixie Limb, the survey will be
expanded along more of the 18 kilometre strike length of the new
targets.
Drill Program Update
The Company continues to undertake a fully funded, 90,000 metre
drill program that is expected to continue through 2019 and
2020. Targets tested will include the Hinge Zone,
Dixie Limb Zone, Bear-Rimini Zone,
Yuma Zone, LP Fault, North Fault, DNE Zone and other targets across
the property. In order to accelerate the program, a second
drill rig was added in February, and a third drill rig arrived in
June of 2019. Approximately 50,000 metres of drilling remain
in the current program.
Great Bear has been aggressively drilling the LP Fault,
including its associated Bear-Rimini, Yuma and DNE Zones, in tandem
with ongoing drilling of the Hinge and Dixie Limb Zones since the
Company's discovery of high-grade gold at the Bear-Rimini Discovery
area in May of 2019.
The Company is also continuing its program of re-logging,
surveying and sampling of historical drill core, collecting
lithogeochmical samples and completing petrographic analysis.
Results will continue to be provided as received and
analysed.
About the SGH Survey
The following description of the SGH survey methodology was
provided to Great Bear: "Actlabs' Spatiotemporal Geochemical
Hydrocarbon (SGH) analysis is designed to target mineralization
under cover. SGH research since 1996 has shown that surficial
material adsorbs hydrocarbon compounds released from the
decomposition of bacteria and microbes that have fed on a mineral
target at depth. Near surface samples (soil, sediment, peat,
till, sand, etc.) are collected, the weakly-bound, heavy
hydrocarbons in the C5-C17 carbon series range are desorbed at the
laboratory, and over 160 of these compounds are analysed by Gas
Chromatography/Mass Spectrometry (GC/MS). The unique mixture
of compounds is like a fingerprint that provides a
highly-confident, forensic, identification of the mineralization at
depth. SGH is blind to the inorganic content of samples and
thus does not reflect mobilized anomalies or any nugget
effects. It is a cost-effective technique which can be used
in tandem with geophysics to improve drill targeting success
rate."
About Great Bear
Great Bear Resources Ltd. (TSX-V: GBR) is a
well-financed company based in Vancouver,
Canada, managed by a team with a track record of success in
the mineral exploration sector. Great Bear holds a 100% interest,
royalty free, in its flagship Dixie property, which is road
accessible year-round via Highway 105, a 15 minute drive from
downtown Red Lake, Ontario.
The Red Lake mining district is
one of the premier mining districts in Canada, benefitting from major active mining
operations including the Red Lake Gold Mine of Newmont Goldcorp
Corp., plus modern infrastructure and a skilled workforce.
Production from the Red Lake
district does not necessarily reflect the mineralization that may,
or may not be hosted on the Company's Dixie property. The
Dixie property covers a drill and geophysically defined multi
kilometre gold mineralized structure similar to that associated
with other producing gold mines in the district. In addition,
Great Bear is also earning a 100% royalty-free interest in the
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 10.0 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.
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.
We seek safe harbor
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SOURCE Great Bear Resources Ltd.