Great Bear Discovers New High Grade “Arrow” Zone: 19.32 g/t Gold Over 2.10 m, Within 3.00 g/t Gold Over 15.00 m

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Algemeen advies 19/06/2020 18:01
June 18, 2020 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) 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.

Chris Taylor, President and CEO of Great Bear said, “Targeted regional drilling has repeated the success of our original Hinge zone discovery of 2018, one kilometre west of the Hinge zone. Drill hole REG-002 intersected three zones of gold mineralization including a 15 metre wide interval containing high-grade visible gold in quartz veins, the “Arrow” zone. These new gold-bearing veins have the same high temperature red-brown hydrothermal biotite alteration that is characteristic of the Hinge zone veins at Dixie, and the High Grade Zone at the Red Lake Gold Mine. While our primary focus remains the ongoing grid drilling program at the LP Fault zone, systematic follow up drilling of the Arrow discovery is clearly required, and additional regional targets also need to be drilled. The discovery of an additional Red Lake style high-grade gold zone in the first new area we’ve tested this year supports the strong ongoing discovery potential of the Dixie project.”

Drill hole locations and results are provided in Figure 1, and in Table 1, respectively.

Drill Results Highlights:

New drill hole REG-002 was completed 1.2 kilometres to the west-northwest of the Hinge zone.
Highlights include:
•19.32 g/t gold over 2.10 metres, including 50.00 g/t gold over 0.75 metres, within a broader interval of 3.00 g/t gold over 15.00 metres. Figure 2, Figure 3, Figure 4 and Figure 5.
•Three mineralized intervals were intersected along 435.55 metres of core length.
•Gold mineralization was present at significant changes in rock type. In particular, high-grade gold within quartz veins was best developed at the contact between a high iron tholeiitic pillow basalt and a massive basalt. This is the same type of geological contact that is highly mineralized at the Hinge and Dixie Limb zones, however the Arrow zone occurs at a different stratigraphic position.
•The Arrow zone veins strike 280 degrees and dip steeply to the northeast, similar to the Hinge zone veins. The regional D2 fold axis that is adjacent to the Hinge, Dixie Limb and Arrow zones extends for approximately 3.7 kilometres to the west-northwest from the Hinge Zone, before being terminated by a granitic batholith. The Arrow zone marks the westernmost drilling along this trend to date.

New drill hole REG-001 was completed to the northeast of RE-002 on the same drill fence. It intersected anomalous mineralization returning 0.51 g/t gold over 2.20 metres.

Oriented structural data suggests the mineralized interval in REG-001 is the same mineralization intersected at the top of drill hole REG-002 (1.09 g/t gold over 1.00 metres and 1.80 g/t gold over 1.30 metres), as shown on Figure 2. The vertical distance between the upper intercepts in REG-002 and REG-001 is approximately 300 metres. These results suggest significant potential vertical continuity in the Arrow zone, as has been observed at the other zones across the Dixie property.

The Arrow zone was targeted by projecting established gold mineralization trends observed within the LP Fault, Dixie Limb and Hinge zones along strike into the discovery area. While all three of these zones exhibit different geological controls and alteration signatures, they also all have a population of quartz veins with an approximately east-west orientation which often contain high-grade gold. The trends from the three zones intersect in several areas (Figure 1) near the Arrow zone and for this reason two exploratory drill holes were completed to cross two of these projected trends, resulting in the new discovery.

Figure 1: Location of the Arrow zone and current regional drill holes.

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