Mr. Chris Taylor reports
GREAT BEAR COMPLETES PURCHASE OF 100% ROYALTY-FREE INTEREST IN DIXIE GOLD PROJECT, RED LAKE, ONTARIO
Great Bear Resources Ltd. has accelerated payments and completed its purchase agreements to earn a 100-per-cent royalty-free interest in its flagship Dixie project, located in the Red Lake district of Ontario.
Great Bear now has 100-per-cent ownership of the 9,140-hectare project.Over 25,000 metres of drilling in 160 drill holes were completed at the project between the late 1980s and 2012 by past explorers.Great Bear followed with an additional 11,000 metres of drilling in approximately 50 drill holes in 2017 and 2018.The company has now commenced a new approximately 150-hole, 30,000-metre drill program that will continue through 2019, testing known high-grade gold zones and newly identified targets.
Highlights of Great Bear's drill intercepts to date include 10.40 metres of 16.84 grams per tonne gold in the Dixie Limb zone, 7.00 metres of 68.76 grams per tonne gold in the Hinge zone and 1.75 metres of 101.05 grams per tonne gold in the South Limb zone.The company is exploring a multizone, from-surface gold system with several kilometres of potential strike length, as defined by drilling, prospecting and geophysics.
About Great Bear Resources Ltd.
The Dixie property is located an approximately 15-minutedrive along Highway 105 from downtown Red Lake, Ont.The Red Lake mining district has produced over 30 million ounces of gold and is one of the premier mining districts in Canada, benefiting from major active mining operations, including the Red Lake gold mine of Goldcorp Inc., plus modern infrastructure and a skilled work force. 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.
R. Bob Singh, PGeo, director and vice-president of 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.
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