Great Bear Resources (TSXV: GBR) this morning released further results from its currently ongoing drill program at its Dixie Project in the Red Lake district. The latest results has shown gold mineralization expanding at depth, with an increasing number of high grade gold intervals being found within the halos of moderate gold grades.
Further, a new gold zone was discovered adjacent to the LP Fault zone which is currently being explored. That zone is approximately 750 metres deep.
Great Bear was quick to highlight that it apparently hit a sizable gold internval, with 559 grams per tonne gold being found over a 0.50 metre interval, which was in a total mineralized interval of 4.07 g/t gold over 80.50 metres. Included in this interval is the widest high grade gold interval found within the zone to date, which consists of 10.06 g/t gold over 31.25 metres. This finding was at the deepest drill hole to date, and occurred at 404.50 metres.
Sponsored · Altamira Gold Corp.
Further, given that this was the deepest drilling completed to date on the LP Fault gold zone, the company has stated it has found a new zone altogether in the hanging wall of the LP fault. This zone was found along 867 to 877 metres down hole, at a vertical depth of 750 metres.
The new zone is stated to be immediately adjacent to the LP fault, with assays of 7.20 g/t gold over 1.50 metres. Future drilling on the LP fault zone will now include similar drill holes that are to penetrate the LP faults hanging wall at depth. This will enable to company to test for extensions to the new zone.
In total, approximately 180 drill holes remain to be drilled in the 2020 exploration program at the LP Fault zone. Great Bear intends to complete additional drilling at other zones within the Dixie property, including Dixie Limb, Hinge, and Arrow zones.
Full data on the recently released assays can be found within Great Bear’s press release, found here.
Great Bear Resources last traded at $17.61 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.
How it Works: Order Spoofing, Part Two – Spoofing In The Small Cap Sector
JP Morgan’s $920 million fine for having manipulated gold markets with order spoofing was widely...