Great Bear Resources (TSXV: GBR) this morning released additional drill results from its ongoing $21 million exploration program being conducted this year at its flagship Dixie project in the Red Lake camp of Ontario. The latest drilling has been conducted on 50 metre centres, with the highlight from the latest drilling being 8.08 g/t gold over 37.70 metres, which was near the centre of the LP fault zone and labelled as hole BR-156.
The company is also quick to highlight that all drill holes conducted along the LP Fault zone, of which there are 161, have successfully intersected both the structure as well as mineralization. A total of nine additional drill holes were reported this morning, with the lowest grade coming from drill hole BR-162, reporting 0.65 g/t gold over 3.50 metres.
50 metres to the northwest of the highlighted hole, drill hole BR-164 hit further strong mineralization, reporting 5.23 g/t gold over 78.75 metres, along with an additional interval of 11.08 g/t gold over 3.85 metres.
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Great Bear has indicated that it continues to model the high strain and deformed quartz vein zones, with results of this work expected to be released in the “coming weeks.” This is being stated as being an important step as the company moves towards completing its maiden resource.
The company has also indicated that it is continuing to explore its other properties within the Red Lake, Ontario region. The Sobel property, which the company purchased to control prospective stratigraphy within the Red Lake Greenstone Belt, recently saw a spaciotemporal geochemical hydrocarbon survey completed.
Two targets were discovered from this survey, meauring 800 metres by 500 metres and 900 metres by 450 metres. Exploration will continue at the project as a result, with preliminary drilling potentially occurring this winter.
Great Bear Resources last traded at $17.81 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.
