Great Bear Doubles Vertical Extent of LP Fault, Intersects High-Grade Gold at 942.20 m Downhole: 15.57 g/t Gold Over 3.05 m

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Algemeen advies 30/03/2021 08:53
March 29, 2021 – 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 $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.

Expansion of the LP Fault

Deep drilling has doubled the drill-confirmed vertical extent of the LP Fault gold zone, which begins at bedrock surface, to approximately 800 vertical metres. The area of ongoing grid drilling extends along 4 kilometres of strike length. Figure 1 and Figure 2.
Three new 400 – 450 metre step-down holes drilled along 500 metres of strike length all successfully intersected the continuation of the LP Fault host rocks and gold mineralization at depths of 700 – 820 vertical metres.
Gold grades and mineralized zone thickness were better at depth on two of three tested drill sections.
Initial deep drilling tested below the most weakly mineralized segment of the LP Fault, formerly referred to as the “Gap” zone (February 13, 2020).
Large scale step-out drilling at depth, including below areas of high-grade gold mineralization, will continue throughout 2021.
High-Grade Gold in the First Deep LP Fault Drill Holes

High-grade gold was intersected at depth in two of the three deep drill holes, with better grades and thickness than previously observed in the near surface. All three deep drill holes contained multiple intervals of gold mineralization. Table 1 and Table 2.
BR-260 is the deepest LP Fault drill hole to date. It assayed 15.57 g/t gold over 3.05 metres from 942.20 to 945.25 metres, within a broader interval of 1.08 g/t gold over 70.25 metres from 906.15 to 976.40 metres. Figure 3 and Figure 4.
While high-grade intervals are the primary drill targets at these depths, the dual high-grade and bulk-tonnage character of the LP Fault gold zone remains strongly developed at depth.
Oriented core data collected from these initial deep holes will assist with determining controls to higher grade panels within the broad envelope of gold mineralization.
Great Bear has now published results from 270 LP Fault drill holes and anticipates at least 130 additional LP Fault drill holes will be completed by the end of 2021, for a total of at least 400 drill holes.

Chris Taylor, President and CEO of Great Bear said, “We drilled below the most weakly mineralized segment of the LP Fault with our first deep holes, and discovered better gold mineralization at depth. After 270 drill holes we have yet to find the limits of the LP Fault’s gold mineralization. Mesothermal gold systems of this type, particularly in the Red Lake area, can extend vertically over kilometres. We are currently working with in-house and external modelers to finalize 2021 drill plans, and will provide guidance over the coming weeks on expected timing of delivery of initial estimates of mineral resources.”

Figure 1 (Top): Long section of the LP Fault zone showing the locations and depths of the new deep drill holes (labeled). Figure 2 (Bottom) : Map of current drill results showing the location of the new deep drill holes.

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