January 17, 2017 – Vancouver, BC, Canada. – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced that it has identified high grade polymetallic mineralization to be targeted in 2017, and has expanded its 50% owned BA property through staking of an additional 469 hectares. The project now spans 25 claims totalling 10,247 hectares and includes strategic ground between the BA zone and highway 37A that is prospective for hosting extensions to mineralization.
High Grade VMS Feeder Zones
Great Bear completed a reconnaissance mapping and sampling program at the “Big Red” target, a broad area of relatively flat, deglaciated terrain showing widespread hydrothermal alteration 1.0 to 3.0 km to the north of Highway 37A. A suite of character samples were collected from altered and mineralized showings within Lower Hazleton Group volcanic hosts. High grade zinc, lead and silver, plus zones of copper and gold mineralization, were discovered across a 3 km by 2 km area. Results are consistent with high grade polymetallic VMS feeder style mineralization controlled by generally southeast striking high-angle structures. Highlights are summarized in the table below, and include sample BR 7222 returning 20.3% zinc, 6.73% lead, 255 g/t silver, 0.37% copper and 100 ppb gold. Great Bear intends to undertake follow up exploration in the Big Red area in 2017.
Table 1: Highlighted sample results from the Big Red area
Chris Taylor, CEO of Great Bear said, “The strong metal endowment of these new showings combines with their proximity to the highway to create a compelling driver for upcoming exploration. We prospected this area in 2011, but recent analysis has shown that widespread alteration is associated with a number of high grade polymetallic VMS feeders. These define stand-alone, potentially high-value targets, but may also be associated with related VMS horizons similar to the BA zone. Big Red will be further explored in 2017, in order to map the extent of these high grade zones, and define drill targets.”
Figure 1: Map showing newly staked land expanding the BA project towards Highway 37A, the location of the Big Red showings, and adjacent properties owned by IDM Mining Ltd. (TSX-V: IDM) and Millrock Resources Inc. (TSX-V: MRO). Blank area on the map are owned by other parties. Silver values are shown for simplicity, but results for other metals will be posted to Great Bear’s web site at www.greatbearresources.ca
Extending the BA Zone
Great Bear’s primary focus at the BA project is the BA zone, which is the surface exposure of a large VMS system that has been drilled-tested over 1.5 kilometres of strike length. In 2016 the Company trenched a zone of enriched polymetallic mineralization comprising several percent combined zinc and lead, plus silver that runs along the strike of the BA zone (shown in Figure 1). Results released by Great Bear on December 8, 2016 include 7.50 m of 5.31% Zn, 1.97% Pb and 132 g/t Agwithin 15.0 m of 3.84% Zn, 1.25% Pb and 108 g/t Ag.
The newly staked land is directly along the strike of the north-easterly trend of the BA zone, and is highly prospective for extensions to that mineralization. It is also strategically located to improve access to highway 37A.
Great Bear’s Golden Triangle Projects
Great Bear’s Golden Triangle district assets are its 50% owned BA and Surprise Creek zinc-silver-lead properties.
The BA project covers 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. Results include 106.71 m (core length) of 81 g/t silver, 1.37% lead and 1.62% zinc in drill hole BA-2007-5, and the discovery of higher grade “feeder” zones such as 7.5 m of 8.41% zinc, 1.11% lead and 66 g/t silver in hole BA-2007-10, and 13.10 m of 4.11% zinc, 1.37% lead and 137 g/t silver in hole BA-2007-28.
The Surprise Creek project is operated by Mountain Boy Minerals Ltd. (TSX-V: MTB, “Mountain Boy”) and consists of 19 claims totalling 7,472 Ha located immediately north of Highway 37A. The project covers 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.
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.
Rock assay results are evaluated through a Quality Assurance and Quality Control (QAQC) procedure that includes the use of laboratory duplicates and standards with known precious and base metal values. Assaying was carried out by Activation Laboratories Ltd. of Kamloops, British Columbia.
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, 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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