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Cours Or & Argent

Great Bear Resources Ltd.

Publié le 07 septembre 2017

Great Bear Drills 16.84 g/t Gold over 10.40 m in Red Lake District

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Great Bear Drills 16.84 g/t Gold over 10.40 m in Red Lake District

Vancouver, British Columbia--(Newsfile Corp. - September 7, 2017) - Great Bear Resources (TSXV: GBR) (the "Company" or "Great Bear") today announced results from the first 5 holes of an 8-hole drill program completed on the Dixie Lake Project, located in the Red Lake District of Ontario.

Highlights of drilling include:

  • Hole DL-005 intersected 10.40 m of 16.84 g/t gold including 1.05 m of 130.10 g/t gold

  • Hole DL-004 intersected 6.30 m of 5.56 g/t gold including 1.0 m of 8.33 g/t gold

  • Hole DL-001 intersected 4.60 m of 4.07 g/t gold including 0.50 m of 10.50 g/t gold

  • Hole DL-003 intersected 13.75 m of 2.11 g/t gold including 1.5m of 5.42 g/t gold

  • Results for holes DL-006, DL-007a and DL-008 are pending.

Chris Taylor, M.Sc. P.Geo, CEO of Great Bear said, "We have recently more than tripled our Dixie Lake land position because our geological interpretation suggests we are exploring a regionally significant gold-bearing structure that mineralizes diverse geological units. With Dixie Lake's road access, on-site power lines, and location 20 kilometres from Red Lake, Great Bear is well-positioned to grow along with this emerging project. Great Bear has the option to earn a 100% interest in the Dixie Lake project, royalty-free, for an additional $150,000 in payments over four years."

R. Bob Singh, P.Geo, Vice President Exploration and Director of Great Bear said, "The intercept in hole DL-005 is the widest — highest grade intercept on the property to-date, and shows the potential of the main mineralized structures to host high-grade gold. It carries grade throughout the intercept, within a basalt that is strongly altered by silica and sulphides. Our 3D geological modelling, re-logging of historical drill core and re-interpretation of the zone has clearly led to a better understanding of the structural and geological relationships of high-grade gold on this property that we plan to pursue over the fall and winter."

The Company anticipates a fall-winter exploration program consisting of mapping, geophysical investigations, and drilling. Details will be released once all assay results from Phase 1 drilling are received. The Company completed a private placement in July 2017 and is funded for the planned exploration.

Table 1 contains composite intervals for holes DL-001 to DL-005. Table 2 contains individual assays for hole DL-005. A plan map is shown in Figure 1 and a cross section in Figure 2.

All 8 drill holes completed by Great Bear intersected a strong silica with sulphide zone consisting of pyrite and pyrrhotite with lesser arsenopyrite, sphalerite and galena. Visible gold was noted in some intervals. This zone is interpreted as a structurally controlled hyrdrothermal replacement of pre-existing rock units. The zone crosses through various lithological units and has been identified along strike for at least 450 metres by Great Bear, with indications from past work of over 1.4 kilometres of strike length that remains open to extension.

Table 1: Composite results of drill holes returned to date

Hole Number
From (m) To (m) Width (m)* Au (g/t)
DL-001
136.40 141.00 4.60 4.07
DL-001 including 137.00 138.30 1.30 5.74
DL-001 and including 139.90 141.00 1.10 6.71
DL-001 and including 140.50 141.00 0.50 10.50
DL-002
122.00 128.50 6.50 1.33
DL-002 including 124.50 125.70 1.20 3.06
DL-003
53.25 67.00 13.75 2.11
DL-003 including 53.25 54.75 1.50 3.11
DL-003 and including 59.80 61.80 2.00 4.61
DL-003 and including 60.30 61.80 1.50 5.42
DL-003 and including 64.00 67.00 3.00 2.61
DL-003 and including 66.50 67.00 0.50 7.36
DL-003 and including 60.30 61.30 1.00 6.35
DL-004
56.20 62.50 6.30 5.56
DL-004 including 59.50 62.00 3.00 6.45
DL-004 and including 59.50 60.50 1.00 8.33
DL-004 and including 62.00 62.50 0.50 16.40
DL-004 and 69.00 72.00 3.00 2.34
DL-005
162.60 173.00 10.40 16.84
DL-005 including 164.60 172.45 7.85 21.53
DL-005 and including 164.60 166.10 1.50 12.04
DL-005 and including 170.75 172.45 1.70 82.54
DL-005 and including 171.40 172.45 1.05 130.10

*Width represents core length and does not reflect true width of the zone. Great Bear has not completed enough work on the project to determine true width of the zone. Current interpretations suggest that the zone dips between 60 — 90 degrees. All composite intervals are calculated using a minimum cutoff grade of 0.50 g/t gold with < 1.5 metres of internal dilution.

Table 2: Complete results for Hole DL-005 showing continuity of mineralization

Sample Hole From (m) To(m) Width (m) Au (g/t)
278503 DL-005 162.00 162.60 0.60 0.21
278504 DL-005 162.60 163.20 0.60 1.59
278505 DL-005 163.20 163.70 0.50 2.00
278506 DL-005 163.70 164.20 0.50 1.06
278507 DL-005 164.20 164.60 0.40 6.20
278508 DL-005 164.60 165.10 0.50 10.50
278509 DL-005 165.10 165.60 0.50 8.61
278511 DL-005 165.60 166.10 0.50 17.00
278512 DL-005 166.10 166.65 0.55 0.59
278513 DL-005 166.65 167.05 0.40 1.06
278514 DL-005 167.05 167.50 0.45 2.13
278515 DL-005 167.50 167.90 0.40 3.22
278516 DL-005 167.90 168.35 0.45 3.63
278517 DL-005 168.35 168.70 0.35 1.79
278518 DL-005 168.70 169.25 0.55 3.82
278519 DL-005 169.25 169.75 0.50 2.18
278521 DL-005 169.75 170.25 0.50 2.40
278522 DL-005 170.25 170.75 0.50 1.99
278523 DL-005 170.75 171.40 0.65 5.73
278524 DL-005 171.40 171.95 0.55 142.00
278525 DL-005 171.95 172.45 0.50 117.00
278526 DL-005 172.45 173.00 0.55 2.04
278527 DL-005 173.00 173.75 0.75 0.75
278528 DL-005 173.75 174.75 1.00 0.01
278529 DL-005 174.75 175.50 0.75 0.10
278531 DL-005 175.50 176.20 0.70 0.10
278532 DL-005 176.20 176.85 0.65 0.04
278533 DL-005 176.85 177.50 0.65 0.38

Figure 1: Drill plan with drill hole intercepts and interpreted mineralization. Multiple sub-parallel gold mineralized trends are observed and are being interpreted by Great Bear's geologists.

To view an enhanced version, please visit:
http://orders.newsfilecorp.com/files/5331/28867_a1504733483530_33.jpg

Lire la suite de l'article sur https:

Great Bear Resources Ltd.

CODE : GBR.V
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Great Bear Resources Ltd. est une société basée au Canada.

Great Bear Resources Ltd. est cotée au Canada. Sa capitalisation boursière aujourd'hui est 343,1 millions CA$ (274,4 millions US$, 242,2 millions €).

La valeur de son action a atteint son plus bas niveau récent le 05 février 2016 à 0,05 CA$, et son plus haut niveau récent le 23 février 2022 à 28,15 CA$.

Great Bear Resources Ltd. possède 12 190 000 actions en circulation.

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