This morning Great Bear Resources (TSXV: GBR) announced results from their $21 million exploration program at their Dixie Project in the Red Lake District. The highlight was hole 133 which received results including:
- 30.51 g/t Au over 12.40 metres
- 103.56 g/t Au over 1.10 metres
- 15.45 g/t Au over 25.15 metres
Great Bear has completed 111 of approximately 300 planned drill holes into the LP Fault target. The plan for the $21M program is a 5 kilometre long by 500 metre deep grid drill program.
The company recently completed an upsized private placement and stated they have over $50 million in cash to continue aggressive drilling into 2022. Chris Taylor, CEO and President of Great Bear, told shareholders given the added cash position they will be updating shareholders in the near future with expanded exploration plans.
To see more details on the results, the company’s official release can be read here.
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.
SmallCapSteve started blogging in the Winter of 2009. During that time, he was able to spot many take over candidates and pick a variety of stocks that generated returns in excess of 200%. Today he consults with microcap companies helping them with capital markets strategy and focuses on industries including cannabis, tech, and junior mining.