Drills Multiple Shallow, High-Grade Gold Intercepts At LP Fault
Great Bear Resources Ltd (TSXV: GBR) has continued to receive positive results from its ongoing C$25 million fully funded 2021 exploration programme at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.
President and CEO,Chris Taylor, said that to date all 211 drill holes completed in the long section at Dixie have successfully intersected gold mineralisation.
“We recently drilled a test panel of 15 densely spaced holes on 25 – 50 metre centres along 100 metres of strike length at the LP Fault to a depth of over 450 vertical metres,” Mr Taylor said.
“We were very pleased to observe the same continuity of high-grade and bulk tonnage gold mineralisation at the finer scale as we had previously seen with more widely spaced drilling.”
Great Bear continues to intersect significant widths of high-grade gold mineralisation.New shallow high-grade drill results between bedrock surface and approximately 150 vertical metres’ depth include:
- 16.56 g/t gold over 11.00 metres from 162.50 to 173.50 metres in drill hole BR-196 on drill section 21100.
- This included a high-grade core of 32.90 g/t gold over 3.10 metres from 162.50 to 165.60 metres.
- 20.24 g/t gold over 7.35 metresfrom 163.50 to 170.85 metres in drill hole BR-201 on drill section 19950 (1,150 metres southeast of the previous section within the same zone).
- This included a high-grade core of 211.00 g/t gold over 0.50 metres from 165.00 to 165.50 metres.
- 25.36 g/t gold over 4.65 metres from 139.35 to 144.00 metres in drill hole BR-206 on drill section 20200 (900 metres southeast of the section 21100 within the same zone).
- This included a high-grade core of 151.00 g/t gold over 0.50 metres from 140.65 to 141.25 metres. The entire mineralized interval in BR-206 was 5.06 g/t gold over 25.10 metres from 129.40 to 154.50 metres.
- 18.45 g/t gold over 4.90 metresfrom bedrock surface (27.10 to 32.00 metres) in drill hole BR-203 on drill section 20200 (also 900 metres southeast of section 21100 within the same zone).
- 17.11 g/t gold over 5.00 metres from 83.10 to 88.10 metres in drill hole BR-204 on drill section 20150 (950 metres southeast of section 21100 within the same zone).
Great Bear is also completing systematic high-density drilling along the LP Fault, includingongoing step-downs which continue to expand the mineralised zone at depth.Fifteen closely spaced drill holes on sections located 25 – 50 metres apart were completed along 100 metresof strike length on drill sections 20100 to 20200 at depths from bedrock surface to approximately 450 vertical metres.
High-grade and bulk-tonnage style gold intercepts were intersected at all sections and depths and demonstrate excellent continuity of the mineralised zone on these tight drill spacings.
Seven more widely-spaced drill holes were also completed along 500m of strike length. This drilling is located 450 to 950 metres to the northwest of the holes listed for the previous drill panel. Results again demonstrate similar high-grade and bulk tonnage type gold mineralization on all sections, at depths from bedrock surface to approximately 420 vertical metres. Great Bear completed 112,000 metres of drilling in 2020 at a total cost of C$23 million. With a minimum 2021 budget of C$25 million, the company plans to drill over 130,000 additional metres before year end. The company also plans to further expand its drill program upon easing of Provincial COVID-19 restrictions in Northern Ontario. Great Bear currently has approximately C$39 million of cash on hand.