TSX-V:
GBR
VANCOUVER, May 11, 2020 /CNW/ - Great Bear Resources
Ltd. (the "Company" or "Great Bear", TSX-V: GBR; OTCQX: GTBDF)
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.
LP Fault drill hole BR-085 (originally reported on April 9, 2020) was extended from 524 metres
to a downhole depth of 1,509 metres to
intersect the adjacent Dixie Limb zone at depth. It has
approximately doubled the confirmed vertical depth of the Dixie
Limb zone, intersecting the zone's deepest,
widest, and highest-grade interval to date. The drill hole also
intersected gold bearing quartz veins that may represent the
lateral and vertical extension of the Hinge zone at depth. Results
suggest the Dixie Limb and Hinge zones may coalesce at
depth. Figures 1, 2 and 3.
Drill Results Highlights:
- BR-085 intersected deep extensions of the Dixie Limb zone
740 metres below the surface and new Hinge zone style veins down to
840 metres below surface, approximately doubling the known depth of
gold mineralization. These intercepts were within a few metres
of where they were predicted based on the Company's geological
modelling, indicating strong continuity to depth of both gold
zones.
- BR-085 intersected the widest high-grade gold interval in the
Dixie Limb zone to-date, assaying 10.19 g/t gold over 19.00
metres, which included 68.59 g/t gold over 2.65 metres,
which in turn included 133.50 g/t gold over 1.00 metre.
Table 1 and Figure 4.
- Results clearly demonstrate the depth potential of gold
mineralization at the Dixie Project, which will be tested at all
zones through additional deep drilling during 2020.
Chris Taylor, President and CEO
of Great Bear said, "With our first deep drill hole, we have
doubled the known vertical extent of the Dixie Limb and intersected
new Hinge zone style veins that may represent extensions to the
Hinge zone. Results also suggest the Dixie Limb and Hinge
zone veins may merge at depth, an idea we are keen to test with
further drilling. BR-085 intersected identical geology to the
upper Dixie Limb zone, however for the first time we observed Dixie
Limb style and Hinge zone style gold mineralization in close
proximity to each other. The increased grades and widths of
gold mineralization are also consistent with the trend of
increasing strength of gold mineralization at depth seen frequently
at Dixie. These results define a new, high-priority
exploration target that has the potential to combine the
predictable geometry of the Dixie Limb zone with the higher gold
grades of the Hinge zone. Several of the existing LP
fault drill holes are ideally located to be similarly extended to
deeply target the Dixie Limb and Hinge zones at significantly lower
costs than if we had to collar new holes from surface."
Table 1: Assay results
from BR-085, the first deep drill hole at the Dixie Project.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Zone
|
BR-085
|
|
1008.55
|
1027.55
|
19.00
|
10.19
|
Dixie Limb
|
including
|
1019.60
|
1027.55
|
7.95
|
23.96
|
and
including
|
1024.90
|
1027.55
|
2.65
|
68.59
|
and
including
|
1025.40
|
1027.55
|
2.15
|
83.71
|
and
including
|
1025.40
|
1026.40
|
1.00
|
133.50
|
and
|
1071.30
|
1073.80
|
2.50
|
1.21
|
New Quartz
Veins
|
including
|
1072.10
|
1073.10
|
1.00
|
2.72
|
and
|
1072.60
|
1073.10
|
0.50
|
3.60
|
and
|
1088.85
|
1089.85
|
1.00
|
1.18
|
and
|
1180.85
|
1181.35
|
0.50
|
25.50
|
*True widths are 90% of interval
widths based on intersection points of the drill hole intercept
with the geological model and oriented drill core data.
About the Dixie Limb and Hinge zones:
The Dixie Limb and Hinge zones are the largest gold zones
adjacent to the LP Fault zone that have been identified to
date. Both zones were drilled by Great Bear from 2017 – 2019,
with summary highlights provided in Table 2. Gold
mineralization at both zones has been drilled from within a few
metres of surface, and now to a depth of 748 – 840 metres,
respectively. Both zones remain open to extension along
strike and at depth.
The Dixie Limb zone strikes approximately parallel to the LP
Fault zone, 500 metres to the southwest. It consists of the
steeply dipping, highly regular planar contact between
calc-alkaline basalts and high-iron tholeiitic basalts, frequently
with argillite present at the contact. Gold mineralization
occurs within silica-sulphide replacement zones and quartz veins at
this contact. The gold zone has been intersected along
approximately 500 metres of strike length in more than 100 drill
holes and is well defined both laterally and vertically.
The Hinge zone is a gold-bearing quartz vein swarm that is
situated subparallel to the Dixie Limb zone, 50 – 200 metres to the
southwest. It is defined over a strike length of
approximately 500 metres in more than 80 drill holes. Hinge
zone veins occur in anastomosing subparallel sets of one to six
veins across a width of up to 140 metres, and frequently have
distinctive red-brown hydrothermal biotite alteration. The Hinge
zone gold-bearing veins have similar characteristics to those
hosting the other gold deposits in the Red Lake area, including the High Grade Zone
at the Red Lake Gold Mine, now owned and operated by Evolution
Mining.
Drilling at the adjacent LP Fault zone has intersected gold
mineralization to a vertical depth of approximately 500 metres, and
along a strike length of approximately 11 kilometres. The LP Fault
also remains open to extension along strike and at depth.
The Company continues to undertake its fully-funded 2020 drill
program. The majority of planned drilling consists of
approximately 300 drill holes being completed at an average 75
metres vertical and lateral spacing along a 5 kilometre by 500
metre deep grid of drill holes along the LP Fault discovery.
This grid drill program is on track to be completed by the end of
2020.
Additional deep drilling, similar to BR-085, is also planned
at all gold zones including the LP Fault, and will be completed
periodically throughout 2020.
Table 2: Highlighted drill results
from Great Bear's 2017 – 2019 drilling of the Dixie Limb and Hinge
zones.
Drill
Hole
|
|
From
(m)
|
To
(m)
|
Width*
(m)
|
Gold
(g/t)
|
Zone
|
DL-005
|
|
162.60
|
173.00
|
10.40
|
16.84
|
Dixie Limb
|
including
|
171.40
|
172.45
|
1.05
|
130.10
|
DL-020
|
|
173.00
|
195.00
|
22.00
|
4.31
|
including
|
178.20
|
195.00
|
16.80
|
5.60
|
and
including
|
180.85
|
182.05
|
1.20
|
22.86
|
DL-021
|
|
188.50
|
198.00
|
9.50
|
3.60
|
including
|
193.00
|
198.00
|
5.00
|
5.48
|
DL-024
|
|
225.00
|
244.00
|
19.00
|
3.08
|
DL-041
|
|
112.70
|
120.80
|
8.10
|
5.44
|
DL-042
|
|
136.45
|
141.75
|
5.30
|
9.15
|
DL-045
|
|
144.45
|
160.30
|
15.85
|
5.05
|
including
|
159.00
|
160.30
|
1.30
|
24.21
|
and
including
|
159.60
|
160.00
|
0.40
|
74.91
|
DL-048
|
|
197.20
|
202.70
|
5.50
|
4.38
|
and
|
416.30
|
420.20
|
3.90
|
18.09
|
including
|
417.65
|
420.20
|
2.55
|
27.57
|
and
including
|
417.65
|
418.65
|
1.00
|
69.97
|
DL-049
|
|
190.00
|
195.15
|
5.15
|
11.13
|
including
|
193.20
|
193.80
|
0.60
|
73.33
|
DL-050
|
|
205.90
|
218.00
|
12.10
|
5.87
|
including
|
215.50
|
216.50
|
1.00
|
54.51
|
DL-052
|
|
272.55
|
278.15
|
5.60
|
9.68
|
DHZ-003
|
|
124.80
|
141.15
|
16.35
|
26.91
|
Hinge
|
including
|
124.80
|
137.10
|
12.30
|
34.00
|
and
including
|
127.10
|
128.10
|
1.00
|
112.63
|
DHZ-004
|
|
124.50
|
131.50
|
7.00
|
68.76
|
including
|
124.50
|
128.30
|
3.80
|
125.84
|
DHZ-012
|
|
215.40
|
219.05
|
3.65
|
27.36
|
DHZ-014
|
|
180.70
|
186.60
|
5.90
|
190.78
|
including
|
184.40
|
185.10
|
0.70
|
1602.73
|
DHZ-023
|
|
185.10
|
188.50
|
3.40
|
31.60
|
including
|
185.10
|
186.85
|
1.75
|
61.05
|
and
including
|
185.70
|
186.35
|
0.65
|
128.14
|
DHZ-026
|
|
67.00
|
76.20
|
9.20
|
5.43
|
DHZ-031
|
|
136.50
|
143.75
|
7.25
|
30.15
|
including
|
137.00
|
138.50
|
1.50
|
130.49
|
DHZ-033
|
|
126.20
|
129.30
|
3.10
|
13.58
|
and
|
160.70
|
165.90
|
5.20
|
6.56
|
including
|
164.85
|
165.40
|
0.55
|
46.57
|
DHZ-035
|
|
160.40
|
160.90
|
0.50
|
54.80
|
DHZ-039
|
|
272.70
|
276.40
|
3.70
|
28.37
|
including
|
274.90
|
275.40
|
0.50
|
200.25
|
DHZ-050
|
|
63.00
|
78.75
|
15.75
|
6.28
|
including
|
64.00
|
77.20
|
13.20
|
7.40
|
and
including
|
72.80
|
77.20
|
4.40
|
19.97
|
and
including
|
72.80
|
75.30
|
2.50
|
30.81
|
*True widths are 80% of interval
widths based on intersection points of the drill hole intercept
with the geological model and oriented drill core data, except for
drill holes DHZ-003 and 004 which are 50% of interval
widths.
Drill collar location, azimuth and dip for BR-085 included in
this release are provided in the table below:
Hole
ID
|
Easting
|
Northing
|
Elevation
|
Depth
|
Dip
|
Azimuth
|
BR-085
|
456713
|
5634210
|
357
|
1,509
|
-55
|
210
|
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 and Hinge). 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-completes-first-deep-drill-hole-at-dixie-10-19-gt-gold-over-19-00-m-including-68-59-gt-gold-over-2-65-m-from-1-008-55-m-downhole-in-dixie-limb-zone-301056787.html
SOURCE Great Bear Resources Ltd.