September 9, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR; OTCQX: GTBAF) today provided an update on geological modelling and detailed assay results from one of twenty-three high-grade gold domains being modeled within the LP Fault zone at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.
Chris Taylor, President and CEO of Great Bear said, “We continue to model twenty-three high-grade domains along 4 kilometres of the LP Fault. These domains typically have predictable planar or “sheet like” geometries due to their development at large-scale geological contacts and discrete structural corridors marked by a penetrative foliation fabric. Today we provide detailed results from the Auro2 domain, which is present from bedrock surface near the centre of the LP Fault zone and remains open at depth. We provide every in-zone assay from all (100%) of the 58 drill holes that have intersected the domain to date. Results are shown in the figures and table in this release, and can also be downloaded from our website.”
Key points of this release:
- The Auro2 domain begins at bedrock surface, follows a highly consistent, steeply-dipping geological contact between meta-sedimentary and felsic volcanic rocks, and is situated near the centre of the LP Fault zone. It has been drilled from bedrock surface to over 450 metres depth and remains open to extension.
- All composite intervals defining the Auro2 high-grade domain are provided in Table 1.
- A long section of the Auro2 domain is provided in Figure 1. All drill holes are shown on this section.
- A cross section through the Auro2 domain is provided in Figure 2. All individual assays comprising the composite intervals are shown visually.
- An updated three-dimensional plan map of all 23 high-grade domains is provided in Figure 3.
- All individual assay results comprising the composite intervals can be downloaded from the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.
- Note that additional gold intervals from adjacent high-grade and bulk tonnage gold domains that were also intersected by the drill holes reported in this release are not included in Table 1, Figure 1 or Figure 2 and represent additional gold mineralization to that reported here.
Three additional high-grade domains have been reported to date by Great Bear: BR7 on May 19, 2021, and BR1 and Auro20 on June 3, 2021. The Company will continue to release detailed high-grade domain results as LP Fault zone modelling progresses.
Figure 1: Inclined long section of the Auro2 high-grade domain showing all drill holes which intersect the domain. Drill results were originally published by Great Bear between September 3, 2019 and June 3, 2021. Additional gold-bearing intervals in these holes that intersect adjacent high-grade and bulk tonnage domains have been omitted for clarity.
Table 1: All composite gold intervals defining the Auro2 high-grade domain to date. Drill results were originally published by Great Bear between September 3, 2019 and June 3, 2021. Additional gold-bearing intervals in these holes that intersect adjacent high-grade and bulk tonnage domains have been omitted for clarity.
|Drill HoleDrill Hole||From (m)||To (m)||Width* (m)||Gold (g/t)|
*Represents core length. True mineralization widths range from 70 to 85% of reported intervals.
Figure 2: Cross section 19975 showing all individual assays that intersect the Auro2 domain on this section. Results from the adjacent high-grade domains (Auro1, Auro4, Auro9) and bulk tonnage domains have been omitted for clarity, and represent additional mineralization. Additional details will be provided as modelling progresses.
About the Dixie Project
The 100% owned flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction. Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines. The property also hosts a network of well-maintained logging roads which facilitate access.
The 23 high-grade domains discussed in this release are structurally and geologically distinctive from the surrounding lower grade, bulk tonnage style gold mineralization. Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower grade domains. They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and transition from upper greenschist to lower amphibolite facies metamorphism. Gold in the high-grade domains is generally observed as free gold, is often transposed into, and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.
To date, Great Bear has completed a total of 630 drill holes (283,000 metres), identifying three high-grade gold discoveries. The most significant discovery is the large-scale “LP Fault” zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units. LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately 4 kilometres of strike length. The nearby “Hinge” and “Limb” gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units. Over 80% of the Company’s drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization. Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.
Great Bear adheres to industry-leading quality assurance / quality control (QA/QC) practices in data collection, analysis and disclosure, and detailed assays including all historical LP Fault drill hole data are available on the Company’s website at https://greatbearresources.ca/projects/overview/dixie-project-data/.
About Great Bear
Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets. The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial NI 43-101 compliant multi-million ounce mineral resource estimate for the Dixie project in early 2022.
Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.
QA/QC and Core Sampling Protocols
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 in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab. Selected samples are also chosen for duplicate assay from the coarse reject of the original sample. Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay. 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.
Qualified Person and NI 43-101 Disclosure
Mr. R. Bob Singh, P.Geo, VP Exploration, and Ms. Andrea Diakow P.Geo, VP Projects for Great Bear are the Qualified Persons 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, President and CEO
Cautionary note regarding forward-looking statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking information are based on management of the parties’ reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
Such factors, among other things, include: impacts arising from the global disruption caused by the Covid-19 coronavirus outbreak, business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold or certain other commodities; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); discrepancies between actual and estimated metallurgical recoveries; inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.
Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.