Great Bear Drills New “Gap” Zone: 16.80 g/t Gold Over 4.15m and 1.25 g/t Gold

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Algemeen advies 17/12/2019 15:29
Great Bear Drills New “Gap” Zone: 16.80 g/t Gold Over 4.15m and 1.25 g/t Gold Over 45.50 m; Auro Zone Drilling Intersects
241.88 g/t Gold Over 1.20 m Within 48.67 g/t Gold Over 8.70 m

December 16, 2019 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new results from its fully-funded 200,000 metre drill program at its 100% owned Dixie project in the Red Lake district of Ontario. Results are from the following zones along the LP Fault target: “Gap” (new), Auro and Bear-Rimini. Highlights of recent results include:
• 16.80 g/t gold over 4.15 metres (from 55.00 to 59.15 metres), and a separate interval of 1.25 g/t gold over 45.50 metres (from 125.25 to 170.80 metres) in the new Gap zone, located between the Bear-Rimini and Yuma zones.
• 48.67 g/t gold over 8.70 metres (from 251.60 to 260.30 metres), including 241.88 g/t gold over 1.20 metres in the Auro zone.
• 1.13 g/t gold over 41.80 metres (from 217.70 to 259.50 metres), which includes 6.69 g/t gold over 3.50 metres, and 1.13 g/t gold over 37.95 metres (from 264.60 to 302.55 metres) in the Bear-Rimini zone.
Chris Taylor, President and CEO of Great Bear said, “With the discovery of high-grade gold mineralization in the new Gap area, the last significant undrilled segment of the LP Fault between the Bear-Rimini and Viggo zones is being successfully filled. Remarkably, all (100%) of the drill holes completed into the LP Fault structure to-date have intersected similar gold mineralization and host geology. Results continue to support continuity of gold mineralization along more than 4 kilometres, which remains open along strike and at depth. Our drilling strategy for 2020 is threefold: 1) We plan to continue the discovery process through drill-testing of new targets across the project, 2) we plan to continue significant step-out drilling over 12 kilometres of the 18 kilometre LP Fault, and 3) we will undertake concurrent closely spaced drilling in areas where we have already successfully intersected gold.”

The Company also announces that details regarding a previously announced two percent Net Smelter Royalty (“NSR”) spinout to its shareholders will be provided in January 2020.
The New Gap Zone:
• Discovery hole BR-075 was completed between the Bear-Rimini and Yuma zones within an approximately one kilometre long previously undrilled gap (the Gap zone) in drilling and intersected 16.80 g/t gold over 4.15 metres, and 1.25 g/t gold over 45.5 metres. Gold was hosted by on-strike extensions of the felsic volcanic geology and quartz-sericite-albite alteration seen in the adjacent zones.
• BR-075 is located on a 200 metre step-out to the northwest from the nearest drilling in the Yuma zone, and a 750 metre step-out to the southeast from the nearest drilling with results in the Bear-Rimini zone. As this hole was collared within the LP Fault zone and drilled to the southwest, the northern boundary of the LP Fault zone has not yet been intersected, and additional drilling will be required to determine the overall thickness of gold mineralization in this area. A map of updated drilling is provided in Figure 1 and a cross section through the Gap zone in the area of BR-075 is provided in Figure 2.
• The Gap zone is situated in what was the only remaining significant (approximately 1 kilometre) undrilled segment of the 4 kilometres of the LP Fault tested to-date. While separate zone names are provided by Great Bear for communication purposes, results to-date suggest gold mineralization and host geology are continuous along the four kilometres of the LP Fault drilled thus far.
• Drill hole BR-074 was drilled on the same section as discovery hole BR-075, but was located too close to the southern margin of the LP Fault zone and intersected only the wide lower grade gold mineralization typical of the zone’s margins, assaying 0.36 g/t gold over 40.40 metres (see Figure 2).
Auro Zone Results:
• One of the best holes drilled to-date at the Dixie project has been completed in the Auro zone. Drill hole BR-065 assayed 48.67 g/t gold over 8.70 metres, including 241.88 g/t gold over 1.20 metres. A cross section is provided in Figure 3 and images of high-grade visible gold are provided in Figure 4.
• BR-065 is located 188 metres to the southeast of Auro zone drill hole BR-020 which yielded 10.65 g/t gold over 17.25 m, within a wider interval of 5.28 g/t gold over 42.0 metres, as originally reported on September 3, 2019, and 155 metres up-dip of the mineralized interval of drill hole BR-022 which assayed 14.9 g/t gold over 3.55 metres.
• Once again, Great Bear’s field crews have found favorable alteration, geology, mineralization and visible gold undocumented and un-assayed in historical drill core from the LP Fault zone, this time in drill hole DL-2006-01 from the Auro area. Drill core had been cross-piled in storage on the property for 13 years. See Figure 5. Assay results from historical drill hole DL-2006-01 are pending.
Bear-Rimini Zone Results:
• Drill holes BR-041 and BR-042 were completed within the Bear-Rimini zone. Mineralized intervals were intersected 200 metres and 75 metres, respectively, vertically above the mineralized interval in drill hole BR-043, which intersected 125.4 metres of 1.08 g/t gold as was originally reported by the Company on October 10, 2019. A cross section is provided in Figure 6.

• Drill hole BR-042 intersected 1.13 g/t gold over 41.80 metres, including 6.69 g/t gold over 3.50 metres, and a second interval (separated from the previous interval by a 5.10 metre unmineralized gap) of 1.13 g/t gold over 37.95 metres.
• Drill hole BR-041 intersected a number of zones: 0.66 g/t gold over 10.00 metres, 0.67 g/t gold over 74.00 metres, and 1.05 g/t gold over 4.50 metres.
• This drill section has defined a zone of continuous mineralization from the near-surface to approximately 400 metres vertical depth.
• As observed at many locations along the LP Fault, the apparent thickness and strength of gold mineralization increases with depth and remains open to extension.
Additional drill holes have also now been completed further along the projected strike of the LP Fault zone and within the Gap zone from which assays are pending and will be released in the new year. Great Bear plans to drill test approximately 12 kilometres of the 18 kilometre long LP Fault target during 2020.
Figure 1: Map of current drill results at the Dixie property

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