12.0 m of 5.24% Zn, 1.59% Pb and 30 g/t Ag at BA Project

November 2, 2016 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) is pleased to announce initial trench sampling results from its 50 percent owned BA project in the Golden Triangle district of British Columbia.  At the BA project, the BA zone represents the surface exposure of a large VMS system that has been previously drilled-tested over 1.5 kilometres of strike.  The zone is located between 2.5 and 4 kilometres from paved highway 37A, the main access route to Stewart, British Columbia, and remains open to extension.

Highlights of the work program results received to date include:

  • Trench “C2” – 12.0 m of 5.09% Zn, 1.81% Pb and 20 g/t Ag within 39.0 m of 3.76% Zn, 2.26% Pb and 30 g/t Ag
  • Trench “C” – 1.5 m of 6.64% Zn, 2.71% Pb and 21 g/t Ag within 19.5 m of 3.92 % Zn, 1.55% Pb and 44 g/t Ag
  • Trench “D” – 12.0 m of 5.24% Zn, 1.59% Pb and 30 g/t Ag within 19.5 m of 3.96% Zn, 1.05% Pb and 20 g/t Ag.
  • Glacial retreat since 2010 has exposed strike extensions of the zone which have now been sampled
  • Re-logging of historical drill core has revealed a high-grade sulphide-carbonate overprint of the stacked volcanogenic massive sulphide system (VMS), comprising a core of enhanced grade that is traceable along strike at surface.

“The BA zone is an extensive zinc-silver-lead discovery located only two kilometres from paved highway,” said Chris Taylor, Great Bear’s CEO, “Unlike many projects in the Golden Triangle, mineralization is neither remote nor deeply buried.  Great Bear is currently reviewing results from over 20,000 m of past drilling and surface sampling to evaluate more comprehensively the extent and continuity of mineralization.   Channel samples reported herein are from surface exposures of semi-massive to massive sulphide that are traceable at surface along the exposed length of the zone.”

Samples from four additional trenches as well as re-sampled drill core are currently in the lab for processing.  Once the company has received all results, a comprehensive 3D geological model will be created to assist with planning for the 2017 exploration program at the BA project.

The channel sampling program targeted prospective zones of zinc-silver-lead VMS bearing stratigraphy.  The work included a comprehensive re-logging and sampling program of historical drill core as well as re-interpretation of the geological model.  The new modeling confirms the presence of a “stacked” VMS system along with significant zones of higher grade sulphide-carbonate enrichment, generally containing several percent combined zinc and lead plus associated silver. Sampling has also identified strike extensions of the mineralized zones into areas where glacial cover has melted since the last drilling on the project was completed in 2010.

In 2010, Great Bear completed an 82 hole, 15,000 metre drill program within the BA zone.  A table of historic drill results is published to the Company’s web site at www.greatbearresources.ca.

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 778-327-5799, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 778-327-5799

Fax: 778-327-6675

info@greatbearresources.ca

www.greatbearresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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.

We seek safe harbor

 

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