Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) announced in a news release that at its Dixie project in Ontario's Red Lake it drilled a new zone and, in another, existing zone, intercepted its best assay yet.
The new zone, dubbed Gap, comprises the 1 kilometer (1 km) long area between the Bear-Rimini and Yuma zones and was the only untested area along the drill tested 4 km of the LP Fault zone.
Drilling in the Gap zone hit 16.8 grams per ton (16.8 g/t) gold over 4.15 meters (4.15m) and 1.25 g/t gold over 45.5m. "Gold was hosted by on-strike extensions of the felsic volcanic geology and quartz-sericite-albite alteration seen in the adjacent zones," the release described. Further assays from Gap are pending.
Cumulative results from drilling thus far along the LP Fault suggested the gold mineralization and host geology there are continuous along the drilled segment, the company noted.
As for new results from the Auro zone, they highlighted the best assay drilled there thus far. From hole BR-065, it was 48.67 g/t gold over 8.7m, including 241.88 g/t gold over 1.2m.
Regarding Bear-Rimini, the drill section delineated a zone of continuous mineralization from near surface to a vertical depth of about 400m. Of the two holes drilled there, BR-042 returned 1.13 g/t gold over 41.8m, including 6.69 g/t gold over 3.5m. A second interval, separated by a 5.1m area of no mineralization, demonstrated 1.13 g/t gold over 37.95m.
Hole BR-041 hit various zones, with returned assays including 0.66 g/t gold over 10m, 0.67 g/t gold over 74m and 1.05 g/t gold over 4.5m.
Great Bear intends to further drill the LP Fault in 2020, specifically 12 km of the 18 km long target.
"With the discovery of high-grade gold mineralization in the new Gap area, the last significant undrilled segment of the LP Fault between the Bear-Rimini and Viggo zones is being successfully filled," Chris Taylor, CEO of Great Bear, said. "Remarkably, all (100%) of the drill holes completed into the LP Fault structure to-date have intersected similar gold mineralization and host geology. Results continue to support continuity of gold mineralization along more than 4 kilometers, which remains open along strike and at depth Our drilling strategy for 2020 is threefold: 1) We plan to continue the discovery process through drill-testing of new targets across the project, 2) we plan to continue significant step-out drilling over 12 kilometers of the 18 kilomeere LP Fault, and 3) we will undertake concurrent closely spaced drilling in areas where we have already successfully intersected gold."
Read what other experts are saying about:
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. 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.
