Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) announced in a news release that four new drill holes further proved the company's hypothesis that high-grade structural gold controls exist at Dixie between the Dixie Limb zone and the veins parallel to the Hinge zone.
The holes drilled targeting those potential controls at this Red Lake, Ontario project "confirmed that steeply plunging, high-grade gold occurs at and near these intersections, and that these intersections are priority drill targets within the Limb," the release noted.
Specifically, at the predicted intersection of the Hinge zone vein swarm and the Dixie Limb, results showed nearby thickened zone widths. They included 12.1 meters (12.1m) of 5.87 grams per ton (5.87 g/t) gold, which includes a high-grade core of 4.6m of 14.32 g/t gold.
Also at these predicted intersections, there were higher gold grades, of up to 1m of 54.51 g/t and 0.6m of 73.33 g/t.
Consequently, Great Bear intends to keep drilling these zones to better delineate "their number, size, gold endowment and extent to depth," President and CEO Chris Taylor said in the release.
The exploration company also reported it granted a total of 400,000 stock options to employees, directors, consultants and advisors of Great Bear. Recipients may exercise the options at $5.31 per share within five years.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Great Bear Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
