Mr. Chris Taylor reports
GREAT BEAR DRILLS NEW HIGH-GRADE GOLD DISCOVERY ON A 1.6 KILOMETRE STEP-OUT HOLE, AND ADDITIONAL NEAR SURFACE INTERVAL OF 40.30 METRES OF 1.73 G/T GOLD IN MAIN DRILL AREA AT DIXIE PROJECT, RED LAKE DISTRICT
Great Bear Resources Ltd. has provided gold results for a further 10 drill holes from its continuing 2018 drilling.A fully financed drill program consisting of 40 to 50 additional drill holes totalling 7,000 metres has now commenced and is expected to continue until November, 2018.Results will be issued regularly throughout the remainder of the year.Highlights of the latest drill results include:
New high-grade gold discovery
A 1.6 kilometre stepout along the main Dixie Limb zone (DLZ) intersected near-surface high-grade gold mineralization at a vertical depth of only 37 metres.Hole DNW-001 returned 1.40 metres of 12.74 g/t gold, including 0.5 metre of 23.30 grams per tonne gold, within a wider interval of 5.60 metres of 3.52 g/t gold.
Wide near-surface gold mineralization
Shallow drilling to test near-surface mineralization of the DLZ in the main drill area returned wide gold-mineralized intervals including multiple higher-grade intercepts.Hole DL-013 returned 40.30 metres of 1.73 g/t gold from 35-metre vertical depth.This included 12.3 metres of 3.13 g/t gold and 2.0 metres of 6.38 g/t gold.
Scale of gold system
The DLZ consists of a favourable geological contact that hosts gold mineralization and has now been drill confirmed along 2.3 kilometres of strike length.A high-resolution geophysical survey completed by Great Bear shows the zone may extend for up to 10-kilometre strike length on the property.All of plus 90 drill holes that have intersected this target have encountered the same extensive gold-bearing hydrothermal system, and all holes contain gold mineralization.
Chris Taylor, president of Great Bear, said: "Stepout drill spacing is typically a few metres to tens of metres in the Red Lake district.Our stepouts at 850 metres and 1.6 kilometres along the Dixie Limb zone have all intersected gold mineralization, including high-grade gold.This remarkable result shows the size and strength of the gold system at our flagship Dixie project.Simultaneously, we have identified gold over significant widths in near-surface holes overlying deeper high-grade gold intercepts in the vicinity of most historical drilling.Great Bear's Dixie project is located only 15 minutes drive along the highway from Red Lake, and all reported gold results are from areas underlying or adjacent to existing logging roads, five minutes from the highway and accessible year-round."
HIGHLIGHTED DRILL RESULTS FROM LATEST 10 DRILL HOLES Vertical FromTo WidthGoldDrill holedepth (m)(m) (m) (m) (g/t) TargetDNW-00137.852.60 58.205.603.52 1.6 km stepoutDNW-001including 56.80 58.201.40 12.74DNW-001and including 56.80 57.300.50 23.30DNW-001and including 57.70 58.200.50 12.20DNW-00255.367.50 69.702.203.86 1.6 km stepoutDNW-002including 68.70 69.701.008.28DNW-003 117.1 152.80154.001.201.33850 m stepoutDL-011232.0 279.00284.855.852.25Main drill areaDL-011 including280.50281.501.005.36DL-011 and including283.90284.850.954.93DL-012115.6 133.50143.50 10.002.29Main drill areaDL-012 including140.00143.503.504.25DL-012 and including142.50143.501.009.65DL-012 and including 142.5 143.50.50 12.10DL-013 39.547.70 88.00 40.301.73Near surface of main drill areaDL-013 including 47.70 50.002.306.01DL-013 including 58.00 70.30 12.303.13DL-013 including 60.15 62.001.855.85DL-013 including 67.00 69.002.006.38DL-013 including 83.50 84.501.004.68DL-014 52.157.50 65.908.401.90Near surface of main drill areaDL-014 including 64.30 65.000.707.55DL-015 56.763.00 70.907.902.69Near surface of main drill areaDL-015 including 67.80 70.302.507.17DL-015 and including 69.80 70.300.50 11.80DL-016 52.068.00 86.50 18.501.09Near Surface of main drill areaDL-016 including 83.10 86.002.902.84DL-016 and including 84.60 85.500.904.01DL-017126.0 137.00166.00 29.001.00Main drill areaDL-017 including137.00140.303.304.41DL-017 and including139.50140.300.80 10.50All intervals are drill indicated core length and do not represent true thicknesses.
The company is now prospecting, trenching and completing a grid of follow-up drill holes in the vicinity of the stepout drilling to determine the geometry of gold mineralization in this new area.Continuing drilling will also continue to target extensions along strike and at depth of various targets within the DLZ, including the Main Dixie limb, Hinge zone, South limb and hangingwall zone targets.
The northwest stepout drilling intersected a diverse suite of sulphides including coarse arsenopyrite with visible gold within a broad interval of silica alteration and veining.This style of high-grade gold mineralization and alteration is similar to that reported at producing gold mines in the Red Lake district.The DLZ as a whole is characterized by extensive silicification, silica veining and various sulphide assemblages with varying visible gold content.
Highlights of Great Bear's drilling of the Dixie project to date include:
Completion of 23 drill holes totalling approximately 4,000 metres, with gold mineralization in all drill holes along 2.3 kilometres of strike length of the DLZ.Combined with historical drilling, over 190 drill holes totalling approximately 28,000 metres have been completed at the Dixie property;Discovery of wide, high-grade gold mineralization including 16.84 g/t gold over 10.40 metres;Discovery of high-grade gold at the Hinge zone returning 17.18 g/t gold over 1.7 metres, including 46.3 g/t gold over 0.60 metre;Discovery of high-grade gold at the hangingwall zone returning 12.41 g/t gold over 1.5 metres, including 30.20 g/t gold over 0.55 metre;Discovery of thicker zones of gold mineralization near surface including 1.73 g/t gold over 40.30 metres;Discovery of high-grade near-surface gold including 1.40 metres of 12.74 within 5.60 metres of 3.52 g/t gold at a 1.6-kilometre stepout.
All gold zones at the Dixie project remain open along strike and at depth.See news releases of Nov. 2, 2017, and May 25, 2018.
The company announced raising $2.1-million in May, 2018, and is fully financed through the completion of the current drill program.
About Great Bear Resources Ltd.
Great Bear is earning a 100-per-cent royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake district covering a drill and geophysically defined multikilometre gold mineralized structure similar to that hosting other producing gold mines in the district.The project has seen over 190 drill holes to date and has yielded high-grade near-surface gold results from several gold zones hosted at an extensive mineralized geological contact -- the Dixie Limb zone.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 was logged and sampled in a secure core storage facility located in Red Lake, Ont.Core samples from the program were cut in half, using a diamond cutting saw and were sent to Activation Laboratories Ltd. in Ancaster, Ont., an accredited mineral analysis laboratory, for analysis. All samples were analyzed for gold using standard fire assay-AA techniques. Samples returning over 3.0 g/t gold were analyzed utilizing standard fire assay-gravimetric methods. Certified gold reference standards, blanks and field duplicates were routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program.
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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