Great Bear Drills New Shallow High-Grade Gold Zone at Hinge: 30.81 g/t Gold Over 2.50 m Within 7.40 g/t Over 13.20 m and 20.41 g/t Gold Over 2.20 m Within 2.07 g/t Gold Over 29.80 m; Dixie Limb Drilling Intersects 21.54 g/t Gold Over 2.35 m Within 9.68 g/t Gold Over 5.60 m
TSX-V: GBR
VANCOUVER, Aug. 21, 2019 /PRNewswire/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported the most recent drill results from the Hinge and Dixie Limb Zones at its 100% owned Dixie Project in the Red Lake District of Ontario. The most recent Hinge Zone drill results are summarized in Table 1, and Dixie Limb drill results are summarized in Table 2.
Chris Taylor, President and CEO of Great Bear said, "The one-year anniversary of our Hinge Zone discovery is marked by the discovery of a new shallow high-grade gold zone located west of, and above, the majority of our Hinge drilling to-date. Concurrently, high-grade gold continues to be drilled at predicted structural intersections in the Dixie Limb. Presently, all three drill rigs are deployed at various targets along the LP Fault. It would have been difficult to imagine last summer just how much progress we would make in only one year. The most exciting aspect of the Dixie project is that the pace of discovery has continued to accelerate, and we look forward to what our fully-funded drill campaign will continue to yield through 2019 and 2020."
Highlights of the most recent results include:
- A new steeply plunging high-grade sub-zone was discovered to the west of, and above, most previous drilling in the Hinge Zone. Results include 30.81 g/t gold over 2.50 metres within a broader zone of 7.40 g/t gold over 13.20 metres, at only 68 metres vertical depth. The new zone is shown on Figure 1.
- The new Hinge Zone sub-zone was also tested to approximately 140 metres vertical depth, where assays returned 20.41 g/t gold over 2.20 metres, within a wide interval of 2.07 g/t gold over 29.80 metres. Gold-bearing quartz veins are strongly developed adjacent to a newly defined sediment contact within the same high-iron tholeiitic pillow basalt that hosts the original Hinge Zone discovery.
- Recent Dixie Limb drill results include 21.54 g/t gold over 2.35 metres within a broader interval of 9.68 g/t gold over 5.60 metres. Drilling continues to encounter high-grade gold intervals near the predicted intersections of Hinge-Zone style gold-bearing veins with the Dixie Limb contact. Broad intervals of low to moderate gold grades are also present at all locations drilled.
Table 1: Summary of most recent drill results from the Hinge Zone. Drilling focused primarily on targeting a newly predicted high-grade gold control, leading to discovery of a new sub-zone along the Hinge Zone vein swarm.
Drill Hole | From (m) | To (m) | Width* (m) | Gold (g/t) | Vertical Depth (m) | |
DHZ-050 | 63.00 | 78.75 | 15.75 | 6.28 | 68 | |
including | 64.00 | 77.20 | 13.20 | 7.40 | ||
and including | 64.00 | 64.50 | 0.50 | 6.76 | ||
and including | 68.15 | 68.65 | 0.50 | 4.20 | ||
and including | 72.80 | 77.20 | 4.40 | 19.97 | ||
and including | 72.80 | 76.60 | 3.80 | 22.27 | ||
and including | 72.80 | 75.30 | 2.50 | 30.81 | ||
and including | 73.80 | 75.30 | 1.50 | 46.49 | ||
DHZ-051 | 83.40 | 86.10 | 2.70 | 1.52 | 87 | |
including | 83.90 | 84.50 | 0.60 | 4.24 | ||
DHZ-052 | 100.50 | 102.00 | 1.50 | 14.04 | 105 | |
and | 172.00 | 172.50 | 0.50 | 2.40 | 169 | |
DHZ-053 | anomalous | |||||
DHZ-054 | 147.90 | 150.00 | 2.10 | 1.40 | 155 | |
including | 147.90 | 148.40 | 0.50 | 5.18 | ||
and | 189.60 | 190.90 | 1.30 | 11.19 | 193 | |
including | 189.60 | 190.20 | 0.60 | 23.34 | ||
and | 223.00 | 229.50 | 6.50 | 1.11 | 227 | |
and | 299.50 | 303.00 | 3.50 | 1.04 | 296 | |
including | 300.00 | 300.50 | 0.50 | 4.07 | ||
DHZ-055 | 91.80 | 99.50 | 7.70 | 1.59 | 109 | |
including | 91.80 | 93.70 | 1.90 | 3.09 | ||
and including | 98.80 | 99.50 | 0.70 | 4.14 | ||
DHZ-056 | anomalous | |||||
DHZ-057 | 52.10 | 52.80 | 0.70 | 5.72 | 62 | |
DHZ-058 | anomalous | |||||
DHZ-059 | anomalous | |||||
DHZ-060 | 125.50 | 155.30 | 29.80 | 2.07 | 145 | |
including | 127.00 | 141.40 | 14.40 | 3.80 | ||
and including | 139.20 | 141.40 | 2.20 | 20.41 | ||
and including | 139.90 | 141.40 | 1.50 | 29.49 | ||
* | Drill interval widths are 80% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data. |
New Gold Controls at Hinge Zone
The new high-grade gold sub-zone in the Hinge Zone was discovered by modeling north-south striking sediment units that intersect the east-west striking Hinge Zone vein swarm. While gold-bearing veins occur in every geological unit cut by the vein swarm (pillow basalts, sediments, ultramafics, and other volcanics), the outer contacts of the sediments appear to have enhanced gold grades and gold-bearing vein development when adjacent to the high-iron tholeiitic pillow basalts that host the majority of gold mineralization. These contacts provide another predictable steeply plunging structural intersection that was successfully targeted during the most recent gold discovery.
The Hinge Zone vein swarm has been drilled along 550 metres of strike length to-date and remains open in all directions. The Dixie greenstone belt underlies the projected trend of the Hinge Zone vein swarm to the west for approximately 5 kilometres before being cut off by a granitic batholith. In addition to ongoing step-out and step-down drilling within the Hinge Zone, this projected vein trend will also to be tested during ongoing drilling.
Table 2: Summary of the most recent Dixie Limb drill results.
Drill Hole | From (m) | To (m) | Width* (m) | Gold (g/t) | |
DL-052 | 261.00 | 279.20 | 18.20 | 3.51 | |
including | 272.55 | 278.15 | 5.60 | 9.68 | |
and including | 274.75 | 277.10 | 2.35 | 21.54 | |
and including | 274.75 | 275.25 | 0.50 | 72.08 | |
and including | 276.60 | 277.10 | 0.50 | 17.28 | |
DL-053 | 273.50 | 288.50 | 15.00 | 2.37 | |
including | 283.00 | 288.00 | 5.00 | 5.28 | |
and including | 283.00 | 286.50 | 3.50 | 6.02 | |
DL-054 | 234.40 | 243.00 | 8.60 | 1.54 | |
and | 238.00 | 241.00 | 3.00 | 2.88 | |
including | 239.50 | 241.00 | 1.50 | 4.68 | |
and including | 240.50 | 241.00 | 0.50 | 8.53 | |
DL-055 | 257.50 | 272.20 | 14.70 | 0.90 | |
including | 267.00 | 269.90 | 2.90 | 2.47 | |
and | 268.45 | 268.95 | 0.50 | 6.14 | |
DL-056 | 285.00 | 303.00 | 18.00 | 1.09 | |
including | 288.10 | 288.60 | 0.50 | 6.33 | |
300.25 | 301.50 | 1.25 | 3.96 | ||
including | 301.00 | 301.50 | 0.50 | 5.36 | |
DL-057 | 138.05 | 151.35 | 13.30 | 1.36 | |
including | 147.35 | 150.85 | 3.50 | 3.22 | |
and including | 147.35 | 148.85 | 1.50 | 5.38 | |
DL-058 | 170.40 | 180.80 | 10.40 | 1.82 | |
including | 178.30 | 179.30 | 1.00 | 6.70 | |
and including | 178.80 | 179.30 | 0.50 | 8.88 | |
DL-059 | 59.90 | 68.50 | 8.60 | 1.83 | |
including | 63.65 | 68.00 | 4.35 | 3.14 | |
and including | 66.10 | 68.00 | 1.90 | 4.94 | |
and including | 66.10 | 66.65 | 0.55 | 10.93 | |
DL-060 | 77.20 | 83.30 | 6.10 | 2.43 | |
including | 81.60 | 83.30 | 1.70 | 5.49 | |
and | 330.00 | 335.15 | 5.15 | 1.10 | |
including | 331.20 | 331.70 | 0.50 | 5.32 | |
and | 334.00 | 334.50 | 0.50 | 4.84 | |
DL-061 | 293.70 | 309.30 | 15.60 | 2.19 | |
including | 296.20 | 305.95 | 9.75 | 3.23 | |
and including | 296.20 | 297.70 | 1.50 | 17.34 | |
and including | 296.70 | 297.20 | 0.50 | 49.96 | |
and | 505.50 | 507.00 | 1.50 | 2.06 | |
DL-062 | 322.50 | 324.00 | 1.50 | 3.80 |
* | Drill interval widths are 80% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data. |
Dixie Limb Zone Drill Update
Recent drilling in the Dixie Limb Zone has targeted both:
- Steeply plunging high-grade gold zones that are present at and near the predicted intersection of gold-bearing quartz veins parallel to the Hinge Zone vein swarm with the geological contact between basalts and sediments that defines the Dixie Limb, and
- Undrilled areas along the 600-metre strike length of the Dixie Limb that are required for comprehensive 3D modeling of the overall zone. In these areas, silica-sulphide mineralization typical of the Dixie Limb generally contains low to moderate gold grades.
Drilling is expected to continue with the goals of defining and extending the Dixie Limb Zone both along strike and at depth during the current drill campaign.
LP Fault Drill Update
All three of the Company's drills remain at various targets along the LP Fault. To-date, approximately 3 kilometres of the approximately 18-kilometre strike length of the fault system has been drill-tested with widely spaced drill fences.
The Company has organized a webinar to discuss recent drill program progress on Wednesday September 4th, 2019 at 8AM PDT/11AM EDT. Participation details are provided in the Company's August 15th news release.
Great Bear 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, 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 45,000 metres of drilling remain in the current program.
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 Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analyzed 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.
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
[email protected]
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
SOURCE Great Bear Resources Ltd.
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