Not wanting to fall out of relevance in a bustling market, Great Bear Resources (TSXV: GBR) this morning released an update on ongoing metallurgical testing at its Dixie Project in the Red Lake district. The goal of the testing is to provide the company with estimates of gold recoveries, fineness, and recommendations on the development and design of the metallurgical flow sheet.
Conducting metallurgical testing at the Dixie Project is the next step in the chain of events for Great Bear as the company inches closer to establishing a maiden resource estimate for the highly discussed property. To date, 7,465 occurrences of visible gold have been noted on the property in drill cores. The vast majority – 80% – of cores at the LP Fault, Dixie Limb, and Hinge zones have been noted to contain freegold, which isn’t bound by sulphides.
The lack of presence of sulphides enables higher rates of recoveries of the metal, with deposits in nearby areas, such as the Red Lake Gold Mine having a notable recovery rate between 94% and 97%. Petrographic work conducted at Dixie Limb and the LP Fault has identified that freegold mineralization is present, while petrographic work for the Hinge zone is currently underway.
CEO and President of Great Bear, Chris Taylor, as a result has indicated that the company remains “very optimistic about the high recovery potential for gold from all of our mineralized zones.” Results from metallurgical testing are expected to be released as they come available.
Great Bear Resources last traded at $15.85 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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.