September 5, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced the expansion of its Dixie Lake gold property, through the staking of an additional 26 mineral claims totalling 5358 hectares. The Dixie Lake property now covers 7106 hectares in the Red Lake district of Ontario.
Figure 1: Expanded Dixie Lake Gold property. Total area is now 7106 hectares.
Dixie Lake was recently drilled by Great Bear, with assay results pending from eight diamond drill holes totalling 1047 metres (see news release August 8, 2017).
The new claims cover interpreted strike extensions of regional structures and favorable stratigraphy similar to those identified at the Dixie Lake gold zone. Geological interpretation of recent drilling completed by Great Bear Resources, combined with re-logging of historical drill core, identified key structural controls to the gold mineralization. Historical work at Dixie Lake also identified multiple parallel structures / gold bearing zones. These zones can be traced through regional geophysics and geological mapping into the newly staked areas.
Historical exploration activity on the newly staked ground includes diamond drilling which intersected gold values of 2.0 g/t gold over 7.0 metres including 14.4 g/t over 0.5m (Grandcru Exploration Assessment Report 2005), approximately 2 kilometres to the northwest and along strike of Great Bear’s recent drilling. The newly added eastern claims have not been extensively explored, however additional mineralized showings have been reported, including drilling by Kerr Addison Mines Ltd. in 1975 which intersected sulphide bearing andesite tuff containing 0.33% copper and trace gold over 0.30 metres approximately 8 kilometres from Great Bear’s recent drilling.
The newly staked ground at Dixie Lake will be mapped and prospected by Great Bear’s field crews starting in October 2017, concurrent with field investigations at Great Bear’s West Madsen project. The West Madsen project consists of two claims blocks of approximately 2725 hectares in total, situated west of Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property and covering the along-strike extensions of regional gold-controlling structures that are currently being drilled extensively by Pure Gold at Madsen.
Collectively, Great Bear now controls 9831 hectares of highly prospective, royalty free land in the Red Lake district. Great Bear has the option to earn a 100% interest in all of its properties.
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, President and CEO
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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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