Great Bear Resources (TSXV: GBR) this morning announced that it will be resuming its $45 million 2021 exploration program at its flagship Dixie Project in the Red Lake district of Ontario. This follows after work was suspended by provincial authorities in the area last month due to a forest fire situation in Northwestern Ontario.
The Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry rescinded yesterday the work suspension order it issued on July 21 that restricted industrial activities and affected the company’s exploration program on the property. Significant improvements have been observed in the forest fire situation and have led to the mining authority lifting the suspension.
Following this, the gold exploration company aims to commence phase 2 of its drilling program at Dixie, which includes the ongoing expansion drilling and additional infill drilling on the LP Fault, expansion and infill drilling of the Hinge, Limb, and Arrow zones, as well as testing new targets at the property.
The company had completed phase 1 of the program shortly before the work suspension was issued. This involved a total of 440 drill holes at the fault, with drill holes completed to an average depth of 450 metres.
The mining firm expects its drills on the Dixie project be active starting August 23.
Great Bear Resources last traded at $13.51 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.