Great Bear Resources Reports Continuity of Gold from Surface to 365 m Depth in Dixie Limb Zone, Dixie Project, Red Lake District
TSX VENTURE: GBR
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2018) - Great Bear Resources (TSXV: GBR) (the "Company" or "Great Bear", TSX-V: GBR) today reported results from drilling of the Dixie Limb Zone ("DLZ") completed during the Company's summer 2018 drill program, and designed to test continuity of gold mineralization to depth. The DLZ is a multi-kilometre gold-mineralized contact that is located north of Great Bear's recent high grade gold discoveries at the Hinge and South Limb Zones, and was the target of most historical drilling.
Great Bear also reports that 15 additional drill holes have now been completed in the Hinge and South Limb Zones ("SLZ"). Results are expected in one to two weeks and are not included in this news release.
Great Bear has systematically surveyed 108 historical drill collars and completed gyroscopic downhole surveys of 66 historical drill holes within the DLZ to-date. Results indicate many historical holes were mis-located, with maximum deviations approaching 100 metres, and historical drill directions deviated significantly from plan due to magnetic host rocks. These errors led to incorrect historical interpretations including that gold mineralization in the DLZ occurred in en-echelon lens-like zones lacking vertical continuity.
The Company tested vertical continuity of the DLZ's gold mineralization with a series of 9 drill holes from 26 metres to 365 metres depth. All holes tested areas previously interpreted as unmineralized and cited as lacking geological continuity. All holes successfully intersected gold mineralization.
Highlights of the latest 9 drill holes testing the DLZ include:
- Intercepts of 6.71 g/t gold over 3.10 metres and 6.16 g/t gold over 2.30 metres, establishing continuity of gold mineralization into areas previously deemed to be unmineralized
- DLZ mineralization generally increases in thickness and gold grade with depth
- Intervals of higher grades (>6 g/t gold) were intersected in 5 of the 9 holes
- A newly identified parallel mineralized zone was intersected in one of the two deepest holes at 307 metres vertical depth in drill hole DL-031
Chris Taylor, President and CEO of Great Bear said, "While much of the past exploration work at Dixie was high quality, later interpretations of zone geometries were hampered by incorrect data. Using oriented drill core and gyroscopic surveys, we have cut through the effects of the magnetic background rocks which skewed past drilling and observe a consistent mineralized zone at the DLZ structure, including several steeply-plunging high-grade zones. This mineralization is open along strike and at depth. While more than 360 metres of continuity is a strong start, gold deposits in Red Lake often extend to kilometres of depth, and from that perspective we are only just scratching the surface of this zone's potential."
The most recent drill results are provided in Table 1. Highlighted results from the 2.3 kilometres of strike length of the DLZ drilled to-date are provided in Table 2. A summary of results of ongoing historical drill hole surveying is provided in Table 3. An updated long section of the DLZ including names and locations of various high-grade zones that will be targeted during the current drill program are provided in Figure 1. A map of current drill collars is provided in Figure 2.
Table 1: New drill results from the DLZ, showing vertical depth of intercepts. Drilling targeted previously interpreted unmineralized areas. Drilling is insufficient to determine true widths.
|Drill Hole||From (m)||To (m)||Width (m)||Gold (g/t)||Vert. Depth (m)|
Table 2: Highlighted results from previous DLZ drilling to-date
|Drill Hole||From(m)||To(m)||Width(m)||Gold(g/t)||Vertical Depth (m)|
Table 3: Surveying results to-date showing deviations in historical results
Number of Holes
survey of drill
|Average horizontal shift of 4.39 m. Maximum horizontal shift of +/- 83.0 m E and +/- 51.72 m N. Average vertical shift of 4.03 m. Maximum vertical shift of +/- 51.67 m.|
|66||Average deviation change of 7.95 m at the end of each drill hole. Maximum shift of 148 m at end of drill hole. Significant errors were also observed by Great Bear geologists when using a compass at surface.|
|35||Identified key lithological units and collected 1,566 samples for gold and ICP analysis|
Figure 1: Long section through the DLZ as drilled to-date showing currently reported drill results and locations of planned drill holes. The "88-4", "5", "Gap" and "88-4 Extension" zones are shown. All drill holes that intersect the DLZ contact in this area are shown. Areas without pierce points or composite intervals have not yet been drilled. Zone is open along strike and at depth.
The Company is now conducting a 30,000 metre, 150 drill hole drill program that is expected to continue through 2018 and 2019. Targets to be drilled include the Hinge Zone, SLZ and DLZ, as well as a number of newly defined, highly prospective geological and structural targets across the project. Results will continue to be released in batches as received.
Highlights of all of Great Bear's drill results can be viewed at the Company's web site at www.greatbearresources.ca
About Great Bear
The Dixie property is located approximately 15 minutes' drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. 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 Madsen property. All of Great Bear's Red Lake projects are accessible year-round through existing roads.
Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.
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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