Great bear Resources (TSXV: GBR) has evidently found another gold zone at its flagship Dixie project in the Red Lake region of Ontario. Referred to as the Midwest zone, the zone is located near to the Hinge and Limb zones.
Mineralization at the new zone is said to resemble what is found at the Limb zone, with high grade gold being present. The first discovery of the zone was made 275 metres northwest of the Hinge zone, and 250 metres south of Limb zone.
The new zone was intersected in hole DL-071, where the company encountered 5.69 g/t gold over 7.05 metres, including 20.27 g/t gold over 1.75 metres. The discovery is significant due to the interval being found in basalt-basalt contacts, which had only been previously known to occur at the Limb zone. As such, the company now has addition drill targets as a result of this discovery.
The company this morning also released further drill results on the LP Fault, where the company is drilling along a 2.9 kilometre strike to a depth of 600 metres. Highlights from these results include:
- BR-406: 2.03 g/t gold over 45.85 metres
- BR-407: 1.83 g/t gold over 91.35 metres
- BR-426: 3.10 g/t gold over 28.30 metres
- BR-438: 1.62 g/t gold over 11.20 metres, 6.00 g/t gold over 3.90 metres, 2.53 g/t gold over 16.70 metres, and 40/0 g/t gold over 1.50 metres
Great Bear Resources last traded at $20.28 on the TSX Venture.
Information for this briefing was found via Sedar, and Great Bear Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
