It is also bringing in a third drill rig as president and CEO Chris Taylor said it would follow the Hinge and Dixie Limb gold zones "to the greater depths typical of other major Red Lake district gold discoveries".

He told Mining Journal at PDAC 2019 in Toronto the company was aiming for a "regionally significant" maiden resource.

The company said about 12,000m remained to be drilled of the original programme, and the next 30,000m was expected to cost C$5.6 million (US$4.2 million), fully funded thanks to the company's cash treasury of about $12 million (US$9 million).

It also has about $7.8 million (US$5.86 million) of in-the-money warrants, priced from 20c-$1.75 expiring during 2019 and 2020, for circa $20 million (US$15 million) on a partially diluted cash basis, Great Bear said.

The company's shares spent the first half of 2018 around the 50c mark before shooting up in August on the discovery of the Hinge zone. 

It then attracted $5.7 million backing from Rob McEwen and McEwen Mining as part of a $10 million (US$7.5 million) raising at $1.45 per unit the following month. 

Great Bear shares touched a high of $4.08 in February.

They closed up 2c yesterday to $3.30 to capitalise the company at $125 million.