PRECIOUS METALS

Great Bear points to 'exceptional' grade potential

Drill hole produces combined average 103.4m at 3.76g/t gold

Staff reporter

This article is 5 years old. Images might not display.

"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).

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.

editions

Mining IQ Risk Analytics

Risk Analytics offers interactive access to World Risk Insight data, allowing you to customise risk views, benchmark jurisdictions, explore data behind scores and read expert commentary to guide your decision-making.

editions

Project Pipeline Index 2025

View our 50 top mining projects, handpicked using a unique, objective selection process from an expanded database of 600+ global assets.

editions

Investor Sentiment Insights 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.