Great Bear Resources Expands Gold Properties in Red Lake, Ontario
TSX VENTURE: GBR
Vancouver, British Columbia--(Newsfile Corp. - June 7, 2018) - Great Bear Resources (TSXV: GBR) (the "Company" or "Great Bear") today announced it has expanded its Dixie and West Madsen gold properties in the Red Lake district of Ontario through staking. A map of the expanded properties is shown below.
The Company has added 2,029 hectares of mineral claims to the Dixie project, for a total project area of 9,140 hectares. The newly staked claims control prospective geological horizons parallel to gold-mineralized contacts currently being drilled by the Company. Great Bear's recent drilling identified a multi-kilometre gold-bearing system at the Dixie property that the Company is currently exploring through a 10,000 metre drill program. Recent drill results include 17.18 g/t gold over 1.7 metres, which includes 46.3 g/t gold over 0.60 metres from the Hinge Zone and 16.84 g/t gold over 10.40 metres, which includes 130.10 g/t gold over 1.05 metres from the main Dixie Limb Zone (see news releases of May 25, 2018 and September 7, 2017).
An additional 1,136 hectares have also been staked to expand Great Bear's West Madsen project, covering the on-strike extensions of prospective geological contacts, and linking the Company's West Madsen A and B blocks. The West Madsen property now covers 3,860 hectares. The West Madsen property controls prospective on-strike extensions of gold-bearing structures currently being drilled by Great Bear's neighbour Pure Gold Mining Ltd. (TSX-V: PGM), where recent results include 33.3 g/t gold over 8.3 metres from the Wedge Zone, and 57.1 g/t gold over 22.1 metres from the primary resource area. Wedge Zone drilling is ongoing approximately 1.5 kilometres from the eastern boundary of the West Madsen project.
The Company will explore the newly staked ground at Dixie and West Madsen through summer 2018, and report results as they become available. Drilling at the Dixie project will resume in June 2018.
About Great Bear
Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. The project has seen over 180 drill holes to-date and has yielded high grade near-surface gold results from several gold zones including the Main Dixie Limb, Hinge and Hanging Wall Zones. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.'s (TSXV: PGM) Madsen property. All of Great Bear's Red Lake projects are accessible year-round through existing roads.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
Chris Taylor, President and CEO
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This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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