October 7, 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, “It has been less than a year and a half since our LP Fault discovery, but with over 100,000 metres drilled in 180 holes, it’s increasingly apparent that the consistency and scale of this gold mineralized system has few recent exploration parallels. We are currently completing a series of drill holes designed to test and refine our geological and gold mineralization model and plan to release results of this work over the coming weeks. Today’s drill results incorporate holes from this program, including results from section 20050 which contains the highest density on the LP Fault zone drilling to date and demonstrates high-grade gold continuity over 400 vertical metres from surface.”
LP Fault Drilling Highlights Include:
•New drill results include 18.58 g/t gold over 19.25 metres on section 20050 towards the middle of the LP Fault zone in drill hole BR-167. This interval occurs from 287.25 to 306.50 metres downhole and is within a wider interval assaying 7.04 g/t gold over 54.55 metres. High-grade sub intervals include a high strain zone which assayed 52.83 g/t gold over 2.80 metres, including a strongly mineralized core of 194.00 g/t gold over 0.60 metres, and a separate zone which assayed 23.24 g/t gold over 5.25 metres. Table 1.
•Eight drill holes spaced 30 – 75 vertical metres apart have now been completed on section 20050. This section has seen the highest density drilling to date on the LP Fault zone and demonstrates high-grade continuity from surface to over 400 vertical metres depth. A cross section is provided in Figure 1.
•Other new results include drill hole BR-190 on section 20900, located 850 metres to the northwest of BR-167, which intersected 20.74 g/t gold over 3.80 metres, within a total mineralized zone assaying 2.03 g/t gold over 45.90 metres from 114.50 to 160.40 metres.
•To date, 180 drill holes have been completed along 11 kilometres of the LP fault, totalling approximately 100,000 metres, of which 151 drill holes have been completed on the central 5 kilometres of the LP Fault which is the focus of the Company’s ongoing detailed drill program. Figure 2 and Figure 3.
Figure 1: Drill section 20050 showing continuity of high-grade mineralization on multiple drill holes from surface to 400 vertical metres depth.
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 principal styles of gold mineralization:
•High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb, Hinge and Arrow zones). 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.