November 29, 2016 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today reported results released by Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) from the Ataman VMS zone at the Surprise Creek project in Golden Triangle district of British Columbia. The Surprise Creek property is owned 50% by Great Bear and 50% by Mountain Boy, with Mountain Boy acting as operator. The Ataman zone is located 12 kilometres north of paved Highway 37A, the main access route to Stewart, British Columbia. Highlights of surface sampling results from the summer 2016 field program include:
- Three grab samples collected from proximal float boulders with visible sphalerite assayed 3.04, 3.13 and 11.64% zinc
- A sample of float composed of brecciated chert and barite fragments cemented by limonite yielded 479 g/t silver, 0.17 g/t gold, 2.45% lead and 0.70% zinc
- A grab sample of an in-situ limestone/chert horizon with fine grained sphalerite returned 81 g/t silver, 0.22% lead and 5.53% zinc
- A 1.0 m chip sample of barite-carbonate veining with visible galena and sphalerite returned 297 g/t silver, 0.85% lead and 3.10% zinc
Results have not been verified by Great Bear, and are provided for shareholder information purposes.
About Great Bear
Great Bear’s assets are the 50% owned BA and Surprise Creek zinc-silver-lead properties in the Golden Triangle region of British Columbia, and the Dixie Lake and West Madsen properties in the Red Lake district of Ontario, where it is respectively purchasing a 67% and 100% interest.
The BA project is operated by Great Bear and consists of 24 claims totalling 9778 Ha straddling paved Highway 37A, the primary access route to Stewart, B.C. The property is underlain by stratigraphy that regionally hosts the Eskay Creek deposit, and contains VMS associated mineralization in several locations. In 2010, Great Bear completed a 82 hole, 15,000 metre drill program targeting a 1,200 metre by 800 metre zone of zinc-silver-lead mineralized stratigraphy beginning 2.5 kilometres from the highway. Results from that drilling and pending results from new channel sampling undertaken in 2016 are currently being evaluated to guide the Company’s upcoming 2017 work program.
The Surprise Creek project consists of 19 claims totalling 7,472 Ha located immediately north of Highway 37A. The project is underlain by much of the same stratigraphy as BA. Among other targets, Surprise Creek hosts semi-massive to massive zinc-silver-lead mineralization at the “Ataman Zone”, which is currently being explored by Mountain Boy.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration for GBR, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-681-0037 or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
Chris Taylor, President and CEO
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.
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