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Great Bear points to 'exceptional' grade potential

Great Bear Resources president and CEO Chris Taylor says the latest drilling results from its flagship Dixie project continue to demonstrate the “exceptional grade potential” and predictability of the LP Fault’s near-surface bulk tonnage gold mineralisation.
Great Bear points to 'exceptional' grade potential Great Bear points to 'exceptional' grade potential Great Bear points to 'exceptional' grade potential Great Bear points to 'exceptional' grade potential Great Bear points to 'exceptional' grade potential

Examples of free gold in drill core from Great Bear Resources’ Dixie project in Canada

Staff reporter

"Notably, drill hole BR-166 intersected two wide zones of higher-grade gold mineralisation, which combined averaged 3.76g/t over a total of 103.4m at a vertical depth of 95-210m," he said.

"Additionally, the best interval drilled along the eastern portion of the LP Fault grid to date was intersected in drill hole BR-180, which assayed 88.70g/t gold over 1.35m."

The results are from the ongoing, fully-funded C$21 million exploration programme at the project in Ontario's Red Lake district.

The LP Fault has up to 18km of strike length on the Dixie property, according to the company's interpretation.

Successful definition of a high-grade core at Dixie was likely to see Great Bear undertake an initial economic study in 2021, years earlier than previously thought, Taylor told Mining Journal earlier this month. 

The project hosts two main styles of gold mineralisation and the company has metallurgical testing underway.

It said the Dixie Limb, Hinge and Arrow zones had high-grade gold in quartz veins and silica-sulphide replacement zones, while the LP Fault hosted high-grade disseminated gold with broad moderate to lower grade envelopes.

Great Bear raised $33 million in an upsized placement in June priced at $11.04 per share and $17 per flow-through share.

Its shares (TSXV: GBR), which have soared from circa C50c in mid-2018 prior to its Hinge zone discovery at Dixie, closed up 4.4% to $15.87 yesterday.

At that price it's capitalised about $803 million (US$600 million).