Mr. Chris Taylor reports
GREAT BEAR REPORTS 7.00 M OF 68.76 G/T GOLD FROM REVISED HINGE ZONE INTERVAL, ANNOUNCES NEW 30,000 M, 150 DRILL HOLE PROGRAM AT DIXIE PROJECT, RED LAKE DISTRICT
Great Bear Resources Ltd. has released revised results from its recent high-grade gold discovery in the Hinge zone and provided details on its new drill program, now under way at its Dixie project in the Red Lake district of Ontario.
Drill hole DHZ-004 was originally reported as returning 44.47 grams per tonne gold over 7.00 metres on Aug. 22, 2018.The interval has been increased to 68.76 g/t gold over 7.00 metres through reassay of a previously underreported core interval.
REVISED ASSAY RESULTS FOR DRILL HOLE DHZ-004Drill holeFrom To Width Original interval goldRevised interval gold (m)(m) (m)(g/t)(g/t)DHZ-004 124.50 131.507.0044.4768.76including 124.50 128.303.8081.09 125.84including 124.50 126.502.00 143.25 228.27including 125.50 126.501.00 224.03 302.48 All intervals are drill indicated, as there has been insufficient drilling in the Hinge zone to define true thicknesses.* The interval contains a 2.75 m section of 0.02 g/t gold from 129.00 m to 131.75 m.
R. Bob Singh, PGeo, director and vice-president, exploration, of Great Bear, commented: "As part of our quality control procedures, all high-grade intercepts are reviewed in detail and samples are flagged for check assay and reassay.After reviewing the intercepts in hole DHZ-004, it was determined that the analytical result from sample No. 279693, originally reported as 1.7 g/t gold over 0.5 metre of core length, did not match the visual description of the drill core and was inconsistent with the grade of surrounding samples. After consultation with SGS Canada's quality control department, the sample was resubmitted for triplicate assays which returned an average of 341 g/t gold by gravimetric analysis.We are satisfied with the results of our quality control assessment and do not anticipate any further changes to our reported results."
SGS Canada Inc., Great Bear's assay laboratory, provided the following comment: "Great Bear Resources submitted samples to SGS Canada Minerals Red Lake laboratory on July 17, 2018.The samples were tested under report RL1801865 on Aug. 3, 2018.Great Bear Resources requested a repeat analysis on sample No. 279693 as the Great Bear geology team had previously identified visible gold in this sample.The original result was 1.7 g/t gold by AAS (atomic absorption spectroscopy) instrumentation and the subsequent triplicate check assay reported 303 g/t, 350 g/t and 370 g/t gold by gravimetric analysis.
"The sample was originally tested through the typical exploration gold method with the upper limit of 10 g/t gold. The issue was likely due to incomplete dissolution of the dore bead prior to instrumental analysis and related to the high gold content. This under reporting issue appears to be limited to sample No.279693.
"As with all quality concerns, SGS strives to continuously improve and provide customer satisfaction. SGS is working closely with Great Bear Resources and measures have been put in place to prevent this issue in future."
2018 to 2019 Dixie project drill program
The company also reports it has commenced a 30,000-metre drill program that will consist of approximately 150 drill holes and will continue through 2018 and 2019.The program's anticipated budget is $5.5-million.The company currently has $11.5-million on hand following the closing of a $10.07-million private placement announced Sept. 11, 2018.
The new drill program will continue to drill test the Dixie limb zone (DLZ), including its various subzones such as the Hinge zone and South limb zones.Stepout drilling will also test additional targets along the 10-kilometre strike length of the DLZ.
In addition to the DLZ, a number of parallel structural trends and geological contacts have also been identified by Great Bear's technical team that represent new potential gold mineralization targets elsewhere on the Dixie property.Many of these are associated with D2 fold closures, potential intrusive bodies, and crosscutting structures that have been defined using the company's 2017 high-resolution airborne magnetic survey data.These factors are important gold mineralization controls across the district and have the potential to host additional zones of gold mineralization at Dixie.
Additions to the exploration team
The company is pleased to announce that director and vice-president, exploration, R. Bob Singh, PGeo, has increased his involvement with the company to a full-time basis.The company has also retained Andrea Diakow, PGeo, as exploration manager.Mr. Singh and Ms. Diakow have previously worked together on other Red Lake drill programs for a variety of publicly traded exploration companies.
The company also reports that it has retained Rimini Exploration and Consulting Ltd., based in Red Lake, to assist with project operations.Rimini staff have assisted Great Bear since the company's drill program was initiated in summer 2017.
Collectively, Great Bear's exploration staff have over 110 years of experience in the Red Lake district, including underground at the main Red Lake gold mine operated by Goldcorp Inc.
The company also reports it has granted an aggregate of 1.22 million stock options to officers, directors, advisers and consultants of the company, exercisable at $1.85 per share for a period of five years.The options are subject to a four-month hold period.
About Great Bear
Great Bear is earning a 100-per-cent royalty-free interest in the Dixie property for remaining payments totalling $110,000 over three years. In addition, Great Bear is also earning a 100-per-cent 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, Ont.Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster, Ont., and SGS Canada Inc. in Red Lake, Ont., both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard fire assay-AA (atomic absorption) 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 (QA/QC).No QA/QC issues were noted with the results reported herein.
Mr. Singh is the qualified person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
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