Great Bear Announces High-Grade Discovery; Drills 16.35 m of 26.91 g/t Gold and 7.00 m of 44.47 g/t Gold in Two Holes at Hinge Zone, Dixie Project, Red Lake District

 

August 22, 2018 – Vancouver, British Columbia, Canada – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today reported a significant new high-grade gold discovery in the Hinge Zone at its Dixie Project in the Red Lake District of Ontario.  Drill results are provided in Table 1 and include:

  • Drill hole DHZ-003 returned 16.35 metres of 26.91 g/t gold including separate sub-intervals of 5.05 metres of 51.39 g/t gold, and 1.0 metre of 112.63 g/t gold

 

  • Drill hole DHZ-004, a follow-up drill hole completed 15 metres vertically below DHZ-003 intersected higher-grade gold mineralization, returning 7.00 metres of 44.47 g/t gold, including 2.00 metres of 143.24 g/t gold, which includes 1.00 metre of 224.03 g/t gold

 

  • The newly reported intercepts from the Hinge Zone are shallow, occurring above 110 metres vertical depth and are open in all directions

 

  • As announced on May 23, 2018, Great Bear closed a financing and received funds from warrant exercises totalling $2.1 million and is fully funded to drill the remaining 5,000 metres of the current 10,000 metre drill program which commenced in March 2018

 

Chris Taylor, M.Sc. P.Geo, CEO of Great Bear said, “We recently recognized the potential for a transformative discovery at Great Bear’s Dixie project when we noted structurally controlled high grade gold within quartz veins, flanked by red-brown hydrothermal biotite alteration.  These features, combined with increased grades and zone thicknesses at fold hinges, are key characteristics of high grade gold deposits currently in production in Red Lake.  The missing piece at Dixie was whether we would also see gold enrichment at fold hinges at our project.  We tested the fold hinge concept at shallow depths of approximately 100 vertical metres and successfully generated the high-grade gold results announced today.”

R.Bob Singh, P.Geo, Director and VP Exploration of Great Bear continued, “We made the current discovery by analyzing structural data collected from oriented drill core, which pointed us to a local D2 fold hinge. Our first hole, DHZ-003, encountered a wide interval of quartz veining with visible gold and we immediately followed up with a second hole, DHZ-004, which also hit the zone and encountered even stronger grades. In total the Hinge Zone has been intersected in 8 drill holes over 70 vertical metres, all of which contain high grade gold.   The zone remains open in all directions.  We look forward to further testing the Hinge Zone and other new discoveries through the remaining 5,000 metres and estimated 20 – 25 drill holes of our fully-funded summer 2018 drill program.”

A cross section through the Hinge Zone is provided in Figure 1.  Highlighted drill intervals from other targets are provided in Table 2.  A map of current drill locations is provided in Figure 2.  Photographs of the drill core from holes DHZ-003 and DHZ-004 have been posted to the Company’s web site at www.greatbearresources.ca.

Table 1: Latest drill results from new discovery holes in the Hinge Zone.  All intervals are drill indicated, as there has been insufficient drilling in the Hinge Zone to define true thicknesses.

Drill Hole

 

From (m) To (m) Width (m) Gold (g/t)
DHZ-003 118.3 141.15 22.85* 19.33
including 124.8 141.15 16.35 26.91
including 124.8 137.10 12.30 34.00
including 132.05 137.10 5.05 51.39
including 127.10 128.10 1.00 112.63
DHZ-004 124.50 131.50 7.00 44.47
including 124.50 128.30 3.80 81.09
including 124.50 126.50 2.00 143.25
including 125.50 126.50 1.00 224.03

*The interval contains a 2.75 m section of 0.02 g/t gold from 129.00 m to 131.75 m.

Main Dixie Limb Drilling

Drilling within the main Dixie Limb Zone (“DLZ”) continues to successfully intersect gold mineralization, including high grade intervals.

Drill hole DL-021 returned 9.50 metres of 3.60 g/t gold including 5.00 metres of 5.48 g/t gold, which included 0.50 metres of 19.03 g/t gold.  The intercept in drill hole DL-021 is located 13 metres vertically below drill hole DL-020, which returned 16.80 metres of 5.60 grams gold, including 2.70 metres of 14.92 grams gold, as reported by the Company on August 2, 2018.  The current results show continuity of high grade gold mineralization at the targeted geological contact.

The Company will continue to drill the main DLZ in order to define the size and grade of the mineralized system, and the geometry of its high grade gold mineralized zones.

Northwest Step-Out Drilling

The Company is analyzing geological and structural data from oriented drill core in the vicinity of a 1.6 kilometre step-out along the DLZ in order to guide upcoming drilling.  In particular, the same methodology is being applied that was utilized at the Hinge Zone and DLZ during Great Bear’s recent discoveries, with a focus on modeling potential fold geometries, and the plunge of gold-mineralized zones.

Four additional drill holes were completed in this area, all of which encountered gold mineralization ranging from anomalous to high grade.  Drill hole DNW-004 intersected 3.20 metres of 1.71 g/t gold including 0.50 metres of 9.02 g/t gold at a vertical depth of less than 70 metres.  This drill hole is collared approximately 20 metres northeast of drill hole DNW-001 which returned 5.60 metres of 3.52 g/t gold including 1.40 metres of 12.74 g/t gold, as disclosed by the Company on June 27, 2018.

  Figure 1: Cross section through the Hinge Zone, showing drill results to-date.  View direction is to the East.

Table 2: Latest highlighted drill results from the main DLZ and Northwest Step-out

Drill Hole   From (m) To (m) Width (m) Gold (g/t) Comment
DL-021 188.50 198.00 9.50 3.60 Main DLZ
including 193.00 198.00 5.00 5.48
including 194.65 195.15 0.50 19.03
DNW-004 73.25 76.45 3.20 1.71 Northwest Step-out
including 75.95 76.45 0.50 9.02
DNW-005 83.40 84.40 1.00 1.22
DNW-006 60.00 62.00 2.00 0.53
DNW-007 93.30 94.70 1.40 0.21

 

  Figure 2: Plan map showing the locations of currently reported drill results

The Company also reports that two exploratory drill holes were completed into a new area located approximately 1.0 kilometre to the northeast of the DLZ.  The area is characterized by a magnetic low response measuring approximately 5 kilometres in length by 500 metres in width.  Limited historical drilling returned a high value of 6.73 g/t gold over 0.50 metres in this area.

Great Bear’s drill hole DNE-001 intersected a very broad, 176 metre wide hydrothermal alteration zone containing disseminated sulphide mineralization and quartz-sericite alteration with anomalous gold.  The best sub-interval was 3.90 metres of 1.01 g/t gold, which included 0.7 metres of 2.97 g/t gold.  Anomalous gold was also detected over narrower widths in drill hole DNE-002.

The geology observed in these drill holes consists mostly of non-magnetic felsic volcanic units.  The Company believes that contact zones between these hydrothermally altered felsic volcanic rocks and highly magnetic mafic rocks similar to the DLZ may have strong exploration potential.  Follow-up work in this area will include identification of such contacts.  A contact of this type may occur approximately 250 metres southwest of Great Bear’s drilling, where a distinct magnetic high can be seen on Figure 2.

The remaining 5,000 metres of the current drill program will primarily target the DLZ, Hinge Zone, and South Limb targets.  Drilling will continue through fall 2018, with results being released in batches as received.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie property for remaining payments totaling $110,000 over three years.  The property consists of 9,140 hectares located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario.  The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce.  The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 200 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% 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 is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

 

 

 

Great Bear Drills 16.80 m of 5.60 g/t Gold Including 2.70 m of 14.92 g/t Gold at Dixie Project, Red Lake District

August 1, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today reported gold results for a further three drill holes from its ongoing 2018 drilling.  A fully funded drill program consisting of 40 – 50 drill holes totalling 7,000 metres is underway and is expected to continue through fall 2018.  Results will be issued regularly throughout the remainder of the year.  The latest drilling of the Dixie Limb Zone (“DLZ”) has returned 16.80 metres of 5.60 g/t gold, including 2.70 metres of 14.92 g/t gold.  Two new parallel high-grade gold zones were also intersected.  Highlighted drill results are shown in Table 1, a plan map showing drill collar locations is shown in Figure 1 and a cross section is shown in Figure 2.

 

Table 1: Highlighted drill results from latest 3 drill holes.  All intervals are drill indicated core length and do not represent true thicknesses.

Drill Hole From

(m)

To

(m)

Width

(m)

Gold

(g/t)

Target
DL-018   152.35 155.45 3.10 3.23 Dixie Limb
DL-018 Including 152.85 153.45 0.60 5.36
DL-018 253.50 256.00 2.50 3.19 New Footwall Zone
DL-018 Including 254.50 255.00 0.50 8.69
DL-019 165.75 171.65 5.90 1.99 Dixie Limb
DL-019 Including 166.75 167.25 0.50 5.38
DL-020 95.15 96.15 1.00 5.51 New Hanging Wall Zone
DL-020 173.00 195.00 22.00 4.31 Dixie Limb
DL-020 Including 178.20 195.00 16.80 5.60
DL-020 And Including 179.35 182.05 2.70 14.92
DL-020 And Including 180.85 182.05 1.20 22.86

Chris Taylor, President of Great Bear said, “We continue to expand the robust and fertile gold system at our flagship Dixie project.  Our latest drill results suggest excellent continuity of high-grade gold mineralization at the primary gold-hosting contact of the DLZ from surface to a vertical depth of approximately 150 metres.  Historical drilling suggests that gold mineralization extends to at least 450 metres vertical depth and remains open to extension both at depth and along strike, which Great Bear will continue to drill-test.  We have also drilled new high-grade gold zones in the footwall and hanging wall of the DLZ that are parallel to the primary contact and comprise new targets.  It appears that up to three parallel gold-mineralized zones are present along the Dixie Limb where drilled by Great Bear to-date.  We will continue to drill-test the extent and grade of these zones, in addition to further drilling of the Hinge Zone, Northwest Extension, and South Limb Zones.”

Figure 1: Plan map showing drill collar locations.

Figure 2: Cross section looking northwest through the DLZ showing highlighted intercept of 16.80 metres of 5.60 g/t gold in DL-020.  Interpreted mineralized zone boundaries are shown.

The high-grade intervals reported from drill hole DL-020 intersected the primary gold-bearing contact approximately 15 metres vertically below the intercept in drill hole DL-005, which was reported by the Company on September 7, 2017 and returned 10.40 metres of 16.84 g/t gold.

The Company announced raising $2.1 million in May 2018 and is fully funded through the completion of the current drill program.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre 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% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

 

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

Great Bear Provides Update on Progress at Dixie Project, Red Lake District, Ontario

July 11, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today provided an update on ongoing 2018 drilling at its flagship Dixie project, located in the Red Lake district of Ontario.  A fully funded drill program consisting of 40 – 50 additional drill holes totalling 7,000 metres is underway and is expected to continue until November 2018.  Results will be issued regularly throughout the remainder of the year.

 

Progress at the Dixie project since the 2018 exploration program resumed in June includes:

  • Completion of 5 drill holes with a total of 1,400 metres of drilling
  • Completion of historical core relogging, with additional historical intervals submitted for assay
  • Commencement of geological mapping and prospecting work

The Company also plans to begin a geological mapping and prospecting program during August at its West Madsen project, contiguous with Pure Gold Mining Inc.’s (TSX-V:PGM) Madsen property, where Pure Gold is currently drilling the Wedge Zone discovery less than 1.5 kilometres from Great Bear’s property boundary.

The Company also reports it has granted an aggregate of 330,000 stock options to officers, directors, advisors and consultants of the Company, exercisable at $0.55 per share for a period of five years.  The options are subject to a four month hold period.

Highlights of Great Bear’s drilling of the Dixie project to-date include:

  • Completion of 28 drill holes totalling approximately 5,400 metres, with gold mineralization in all drill holes assayed to-date along 2.3 kilometres of strike length of the Dixie Limb Zone. Combined with historical drilling, approximately 200 drill holes totalling approximately 30,000 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 metres

 

  • Discovery of high-grade gold at the Hanging Wall Zone returning 12.41 g/t gold over 1.5 metres, including 30.20 g/t gold over 0.55 metres

 

  • 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 step-out

All gold zones at the Dixie project remain open along strike and at depth.  See news releases of November 2, 2017, May 25, 2018 and June 27, 2018.

About Great Bear

 

Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen approximately 200 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% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

 

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

 

 

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

 

June 27, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today reported gold results for a further 10 drill holes from its ongoing 2018 drilling.  A fully funded drill program consisting of 40 – 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 step-out 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 metres of 23.30 g/t gold, within a wider interval of 5.60 metres of 3.52 g/t gold.  Drill locations are shown on Figure 1.

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 metres vertical depth.  This included 12.3 metres of 3.13 g/t gold and 2.0 metres of 6.38 g/t gold.  A cross section of this drilling is shown on Figure 2.

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 kilometres strike length on the property.  All of 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, “Step-out drill spacing is typically a few metres to tens of metres in the Red Lake district.  Our step-outs 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, 5 minutes from the highway and accessible year-round.”

Table 1: Highlighted drill results from latest 10 drill holes.  Drill location and gold interval start depth are provided.  All 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 step-out drilling to determine the geometry of gold mineralization in this new area.  Ongoing 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 Hanging Wall Zone targets.

The northwest step-out 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.

Figure 1: Map of drill holes completed in 2018 by Great Bear to date, including location of step-out drill holes along Dixie Limb Zone.  Background is high resolution magnetic data.  The target contact is shown as a dashed line.

Figure 2: Cross section through the DLZ showing highlighted intercept of 40.30 metres of 1.73 g/t gold in DL-013.  Historical drill core includes unsampled intervals where indicated.  Interpreted mineralized zone boundaries are shown.

 

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 metres

 

  • Discovery of high-grade gold at the Hanging Wall Zone returning 12.41 g/t gold over 1.5 metres, including 30.20 g/t gold over 0.55 metres

 

  • 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 step-out

All gold zones at the Dixie project remain open along strike and at depth.  See news releases of November 2, 2017 and May 25, 2018.

The Company announced raising $2.1m in May 2018 and is fully funded through the completion of the current drill program.

About Great Bear

 

Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre 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% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) 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 Ontario.  Core samples from the program were cut in half, using a diamond cutting saw, and were sent to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis. All samples were analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold were analysed 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.

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.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

Great Bear Expands Gold Properties in Red Lake, Ontario

June 7, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has expanded its Dixie and West Madsen gold properties in the Red Lake district of Ontario through staking.  A map of the expanded properties is shown below.

Figure 1: Map of Great Bear’s expanded gold properties in the Red Lake district of Ontario

The Company has added 2,029 hectares of mineral claims to the Dixie project, for a total project area of 9,140 hectares.  The newly staked claims control prospective geological horizons parallel to gold-mineralized contacts currently being drilled by the Company.  Great Bear’s recent drilling identified a multi-kilometre gold-bearing system at the Dixie property that the Company is currently exploring through a 10,000 metre drill program.  Recent drill results include 17.18 g/t gold over 1.7 metres, which includes 46.3 g/t gold over 0.60 metres from the Hinge Zone and 16.84 g/t gold over 10.40 metres, which includes 130.10 g/t gold over 1.05 metres from the main Dixie Limb Zone (see news releases of May 25, 2018 and September 7, 2017).

An additional 1,136 hectares have also been staked to expand Great Bear’s West Madsen project, covering the on-strike extensions of prospective geological contacts, and linking the Company’s West Madsen A and B blocks.  The West Madsen property now covers 3,860 hectares.  The West Madsen property controls prospective on-strike extensions of gold-bearing structures currently being drilled by Great Bear’s neighbour Pure Gold Mining Ltd. (TSX-V: PGM), where recent results include 33.3 g/t gold over 8.3 metres from the Wedge Zone, and 57.1 g/t gold over 22.1 metres from the primary resource area.  Wedge Zone drilling is ongoing approximately 1.5 kilometres from the eastern boundary of the West Madsen project.

The Company will explore the newly staked ground at Dixie and West Madsen through summer 2018, and report results as they become available.  Drilling at the Dixie project will resume in June 2018.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 9,140 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 180 drill holes to-date and has yielded high grade near-surface gold results from several gold zones including the Main Dixie Limb, Hinge and Hanging Wall Zones.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                 

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

Great Bear’s Drilling Returns High Grade Gold at Dixie Project, Red Lake, Ontario

May 25, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced results from the first 5 drill holes of its Phase 2 drill program at its Dixie project in the Red Lake district of Ontario.  A total of 15 holes were drilled along 2.3 kilometres strike length of a prospective geological contact, testing both new and existing gold targets.  All holes hit the hydrothermal alteration system which is characterized by varying silicification, sulphide mineralization and gold content.  Drilling will recommence in June 2018.

 

Highlights from the first five drill holes include:

  • The first “Hinge Zone” drilling by Great Bear intercepted high-grade gold including 17.18 g/t gold over 1.7 metres, which includes 46.3 g/t gold over 0.60 metres in drill hole DHZ-002. DHZ-001, drilled 75 metres vertically above DHZ-002 intersected 15 g/t gold over 1.25 metres, suggesting significant vertical and grade continuity.   Oriented core data suggests that these intercepts are likely from a vein system that is parallel to historically drilled veins, indicating multiple high-grade gold veins are present in the Hinge Zone

 

  • A “Hanging Wall Zone” was intercepted parallel to the main Dixie Limb Zone, returning 41 g/t gold over 1.5 metres including 30.20 g/t gold over 0.55 metres. This  adds an additional drill-confirmed high-grade gold-bearing zone within the primary drill area

 

  • Gold is confirmed at the “South Limb Zone”; DSL-001, Great Bear’s first drill hole into this target intersected a 32 metre wide zone of quartz veining and silica/sulphide alteration containing anomalous gold mineralization which included 34 g/t gold over 0.50 metres and 3.47 g/t gold over 1.0 metre

 

Chris Taylor, CEO of Great Bear commented, “Our Phase 2 drilling was ambitiously designed to test the size potential of the Dixie gold system at shallow depths and along strike, plus a number of new gold targets.  It was successful on all fronts.  Our drilling has revealed a regionally-significant gold-bearing hydrothermal system which has now been drilled along more than 2 kilometres of a favourable geological contact.  The system contains multiple drill-confirmed high-grade gold zones comparable in width and grade to mined deposits in Red Lake, all of which are open to extension.  Historical drilling and geophysics suggest that the primary gold-bearing contact may extend for up to 10 kilometres on the property.  The remaining 7,000 metres of the Phase 2 drill program will include further step-out holes along this contact, and follow-up delineation drilling of areas with high-grade gold intercepts at depth.”

 

Table 1: Drill intercept highlights from the first 5 of 15 drill holes completed during initial Phase 2 drilling.  All interval lengths are drill indicated and may not represent true thicknesses.


 

Hinge Zone

DHZ-001 and DHZ-002 are the first holes drilled into the Hinge Zone by Great Bear.  They intersected quartz veins with strong peripheral biotite alteration and both contained high-grade intervals with visible gold.

This combination of hydrothermal biotite alteration with quartz vein-hosted high-grade visible gold also occurs at the High Grade Zone at the Red Lake gold mine operated by Goldcorp (TSX: G). The intercepts in the two Hinge Zone holes are 75 metres apart (vertically) and remain open for follow-up drilling.

 

Hanging Wall Zone

High-grade gold mineralization was encountered in drill hole DL-009 at the contact between a rhyolite  and tholeiitic basalt, and occurs approximately 80 meters above (in the hanging wall) of the primary Dixie Limb contact.  Significant visible gold is observed which returned 30.20 g/t gold over 0.5 metres, within a broader interval of 2.59 g/t gold over 7.40 metres.  Several historical holes intersected the same contact (according to historical drill log descriptions), however not all of the intervals were assayed for gold by past explorers.  The Company will continue to explore this zone and test other possible parallel gold zones.

Figure 1: Drill plan showing locations of first 15 holes of the 2018 drill program.  Sub-zones within the Dixie gold system are labeled

South Limb Zone

 Hole DSL-001 is the first hole drilled by Great Bear into the interpreted South Limb of an apparent folded duplication of the main Dixie Limb, as shown on Figure 1.  Observations of a wide silicified and sulphide-gold bearing interval in DSL-001 suggests that the Dixie hydrothermal system may be wider in this area, and that significant gold potential exists at South Limb.

 

Pending Assays

The Company is awaiting assays from 10 additional drill holes.  These include step out holes along the primary Dixie Limb contact that increase its drilled strike length from approximately 500 metres to 2.3 kilometres, and additional drill holes into the main Dixie Limb within the primary drill area.  Results are expected to be received over the next four weeks, and will be released in batches as processed.  The Company expects to be drilling again during June.

 

Drill core was logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program were cut in half, using a diamond cutting saw, and were sent to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis.  All samples were analysed for gold using standard Fire Assay-AA techniques.  Samples returning over 3.0 g/t gold were analysed 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.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

 

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

 

 

 

Great Bear Closes $1,720,000 Financing and Receives Additional $425,000 Through Warrant Exercises

May 23, 2018 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced closing of a non-brokered private placement for gross proceeds of $1,720,252, subject to exchange approval.  The Company has also received $425,533 since the beginning of 2018 from the exercise of common share purchase warrants, for total fundraising of $2,145,785.

Chris Taylor, Great Bear’s CEO said, “We thank our shareholders for their continued support despite volatile market conditions.  Great Bear is now fully financed to complete the extended Phase 2 drill program at our Dixie project which was announced on April 19, 2018.  Drilling is slated to recommence in June 2018.  The extended program is expected to consist of a total of 10,000 metres of drilling testing various targets.  Approximately 3,000 metres of drilling has been completed to-date in 15 drill holes, from which we eagerly await results.”

In connection with the current placement, the Company has issued 1,565,000 non-flow-through units (each, a “NFT Unit”) at a price of $0.50, consisting of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.70 per share for a period of twenty-four (24) months.  The common share purchase warrants are subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.83 or more for a period of ten consecutive trading days.

The Company has also issued 1,616,814 flow-through units (each, a “FT Unit”) at a price of $0.58, consisting of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.70 per share for a period of twenty-four (24) months.  The common share purchase warrants are subject to acceleration on the same terms as the NFT Unit warrants.

The securities issued by Great Bear in connection with the private placement are subject to a four month hold period as prescribed by applicable securities laws.  Insiders participated for a portion of the placement.  Finder’s fees of $71,946.00 and 132,900 broker’s warrants were issued in relation to closing of the placement.  Broker’s warrants have the same terms as the NFT and FT warrants.

Following issuance of securities related to this placement, Great Bear will have 23,106,169 common shares issued and outstanding.

Great Bear is earning a 100% royalty-free interest in the Dixie property which consists of 7,106 hectares.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

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, M.Sc., P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

 

 

Great Bear Expands Red Lake Drilling to 10,000 Metres and Announces Private Placement

April 19, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced expansion of its ongoing 3,000 metre drill program in the Red Lake district, Ontario to 10,000 metres.

Great Bear’s President and CEO Chris Taylor said, “We have completed eight of twelve planned drill holes, and are expanding our current work program to include up to 10,000 total metres of drilling and up to 30 additional drill holes.  We will continue to explore our high-grade gold zones at Dixie Lake and their extensions, as well as newly-defined gold-bearing structures at West Madsen.”

Drilling is expected to conclude at Dixie Lake in the coming days due to spring thaw, but will resume approximately one month later when road access is clear.  Assay results from the current drilling are expected to be available at that time for further drill planning purposes.  A concurrent field program consisting of geological mapping, prospecting, trenching and drill targeting will be undertaken from May to August at both Dixie Lake and West Madsen.

 

Private Placement

To fund the expanded drill program, and subject to regulatory approval, the Company will undertake a non-brokered private placement consisting of both non-flow-through and flow-through unit offerings.  The Company will issue up to 4,000,000 NFT Units and up to 3,448,276 FT Units, for total gross proceeds of up to $2,000,000.

Each non-flow-through unit (each, a “NFT Unit”) will be issued at a price of $0.50 and will consist of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.70 per share for a period of twenty four (24) months.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.83 or more for a period of ten consecutive trading days.

Each flow-through unit (each, a “FT Unit”) will be issued at a price of $0.58 and will consist of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.70 per share for a period of twenty four (24) months.  The common share purchase warrants will be subject to acceleration on the same terms as the NFT Unit warrants.

The securities issued by Great Bear in connection with the private placement will be subject to a four month hold period as prescribed by applicable securities laws.  Insiders may participate for a portion of the placement.  Finder’s fees may be payable as part of this transaction.

 

Project Update

All drill holes completed to-date during Phase 2 drilling at the Company’s flagship Dixie Lake project have successfully reached target depths and all results are pending at the time of this news release.  Core logging continues, and 5 of the 8 completed drill holes have been sent for assay to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis.

The Company has noted increased claim staking and drilling activity in the immediate vicinity of its West Madsen property, which is contiguous with the Madsen mine property of Pure Gold Mining Inc. (TSX-V: PGM; “Pure Gold”).  Recent drill results reported by Pure Gold at Madsen include 8.3 m of 33.3 g/t gold and 2.0 m of 22.5 g/t gold from the “Wedge Zone”, located less than 1.5 kilometres from Great Bear’s West Madsen claims.  Gold mineralization at the Wedge Zone has been reported by Pure Gold to be hosted by blue-grey quartz veins and controlled by a major through-going structure.  This structure strikes towards Great Bear’s property.

Three major gold-bearing structural trends have been identified at West Madsen using the Company’s 2017 high-resolution airborne magnetic survey combined with historical assessment work and the Company’s own prospecting.  These cross several kilometres of strike length at Great Bear’s West Madsen Block A.  One of these trends is interpreted to represent the on-strike extension of the structural corridor that also hosts the Wedge Zone.  This trend is known to be gold bearing on Great Bear’s property, as prospecting within a large exploration trench during summer 2017 returned 0.9 g/t gold from a broad area of silicified, sulphide-bearing alteration (see Great Bear news release of November 14, 2017).

Maps of Great Bear’s projects and summaries of results to-date can be found at the Company’s web site at www.greatbearresources.ca.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

 

Great Bear Provides Drilling Update for Dixie Lake Gold Project, Red Lake District, Ontario

April 5, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today provided an update on Phase 2 drilling at its Dixie Lake gold project, located in the Red Lake district of Ontario.

Drilling commenced on March 14, 2018 and is ongoing.  Seven drill holes have been completed at this time, while an estimated 8 holes remain to be drilled.  The first two of the seven completed drill holes have been sent for assay to Activation Laboratories Ltd. in Ancaster Ontario, an accredited mineral analysis laboratory, for analysis.  The remaining holes are being geologically logged and split prior to shipment for assay.

Chris Taylor, Great Bear’s President and CEO said, “Drilling is on time and on budget as we progress through our Phase 2 drill program.  We are stepping out from our Phase 1 drill locations to target on-strike extensions to the known mineralization, and to place the first characterization holes into new targets at the South Limb, Hinge and Northwest extension that have not yet been drilled by Great Bear.  Results from the first 8 -10 holes will provide guidance for the final drill holes of this program, as we aim to define the geometry, strength and geological controls on mineralization in these new areas.”

Details of the current drill program were reported by the Company on November 2, 2017 and January 16, 2018.  The Company will release batches of drill results as these become available.

The Phase 2 drill program is expected to continue until spring thaw temporarily restricts road access.  When ground conditions permit, field investigations will resume across the Company’s Dixie Lake and West Madsen properties.  In addition to ongoing drilling in and around the Main Zone at Dixie Lake, the Company is identifying additional targets for summer exploration where historical prospecting results, and the Company’s own high-resolution geophysical survey results, show high prospectively for additional gold mineralization.

 

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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

 

 

Great Bear Mobilizes Crews for Drill Program at Dixie Lake Gold Project, Red Lake District

March 1, 2018 – Vancouver, British Columbia, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced that crews are being mobilized for the Phase 2 drill program at its Dixie Lake gold project, located in the Red Lake district of Ontario.

The 3,000 metre Phase 2 drilling program is designed to test four zones on the property: Dixie, Hinge, South Limb and NW zones.  The Dixie zone was drilled by GBR in the summer of 2017, with significant gold results in all holes drilled.  See news release dated September 7, 2017 and November 2, 2017 which included a highlight interval of 10.40 m of 16.84 g/t gold.  The Hinge zone was drilled in 2008 and 2010 by previous operators and the South Limb was last drilled in 2004. The NW zone, located approximately 1.7 km northwest of the Dixie zone, was last drilled in 2005; mineralization similar in nature to the Dixie zone was intersected.  A table of historical drill result highlights from Dixie Lake is provided in Table 1 below.

Table 1: Highlighted results from the Dixie Lake Project

Hole From(m) To (m) Width (m) Gold (g/t) Area
DC-10-07 181.83 182.30 0.47 163.75 Hinge Zone
DC-10-07 and 201.12 203.12 2.00 32.65 Hinge Zone
DC-10-07 including 202.12 203.12 1.00 61.97 Hinge Zone
DC-10-07 and including 199.30 203.12 3.82 17.22 Hinge Zone
DC-08-01R 127.60 129.80 2.20 17.20 Hinge Zone
DC-08-01R including 127.60 128.90 1.30 22.93 Hinge Zone
DC-18-07 156.83 158.17 1.34 7.04 Hinge Zone
DC-18-07 including 157.80 158.17 0.37 24.41 Hinge Zone
DL-005 162.60 173.00 10.40 16.84 Dixie Zone
DL-005 including 164.60 172.45 7.85 21.53 Dixie Zone
DL-005 and including 170.75 172.45 1.70 82.54 Dixie Zone
DL-005 and including 171.40 172.45 1.05 130.10 Dixie Zone
DL-04-06 333.33 345.67 12.34 7.54 Dixie Zone
DL-04-06 including 335.42 342.49 7.07 12.26 Dixie Zone
DL-04-06 and including 335.42 336.88 1.46 40.27 Dixie Zone
DL-89-9 49.83 52.66 2.83 15.56 Dixie Zone
DL-89-9 including 51.48 52.66 1.18 30.58 Dixie Zone
DL-11-05 132.2 138.5 6.3 10.78 Dixie Zone
DL-11-05 including 134.7 138.5 3.8 14.76 Dixie Zone
DL-11-05 and including 135.8 137.00 1.2 30.48 Dixie Zone
DL-03-08 123.80 129.05 5.25 7.44 Dixie Zone
DL-03-08 including 124.36 129.05 4.69 8.09 Dixie Zone
DL-03-08 and including 127.19 127.76 0.57 39.70 Dixie Zone
DL-03-08 and including 127.19 129.05 1.86 14.64 Dixie Zone
DL-04-04 including 229.07 232.15 3.08 13.63 Dixie Zone
DL-04-04 and including 230.05 232.15 2.10 18.46 Dixie Zone
DL-04-04 and including 230.82 232.15 1.33 23.32 Dixie Zone
DC-04-07 216.00 218.00 2.00 5.02 South Limb
DC-04-07 including 217.00 218.00 1.00 9.01 South Limb

*Great Bear has verified historical drill results against original drill logs and assay certificates.  Great Bear has re-sampled selected intervals of historical drill to verify results.  Width is expressed as core length and does not represent true width.

Stock Option Grant

The Company has also granted an aggregate of 565,000 stock options to directors, advisors and consultants of the Company, exercisable at $0.51 per share for a period of five years.

About Great Bear

Great Bear is earning a 100% royalty-free interest in the Dixie Lake property which consists of 7,106 hectares in the Red Lake district covering a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district.  The project has seen over 160 drill holes to-date and has yielded high grade near-surface gold results including 10.40 m of 16.84 g/t gold.  In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 2,725 hectares and are contiguous with Pure Gold Mining Inc.’s (TSX-V: PGM) Madsen property.  All of Great Bear’s Red Lake projects are accessible year-round through existing roads.

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 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

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