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Great Bear makes Arrow discovery

Great Bear Resources has reported a new discovery at the Arrow target of its Dixie gold exploration project in Red Lake Ontario, Canada.
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Drilling at Dixie in Red Lake, Ontario in Canada

Staff reporter

A drill hole 1.2km west of its Hinge Zone 2018 discovery intersected three zones of gold mineralisation including a 15m wide interval grading 3 grams per tonne and containing visible gold in quartz veins.

"These new gold-bearing veins have the same high temperature red-brown hydrothermal biotite alteration that is characteristic of the Hinge zone veins at Dixie, and the High-Grade Zone at the Red Lake Gold Mine. While our primary focus remains the ongoing grid drilling program at the LP Fault zone, systematic follow up drilling of the Arrow discovery is clearly required, and additional regional targets also need to be drilled," said president and CEO Chris Taylor.

The Arrow, Hinge and Dixie Limb zones extend for about 3.7km adjacent to a regional fold axis.

Great Bear is undertaking a C$21 million exploration programme at Dixie.

Shares in Great Bear Resources are trading at C$13.91, valuing the company at $715 million.