Ontario-focused Great Bear Resources Ltd (CVE:GBR) told investors it had kicked off a new a 30,000m (meter) drill program at its Dixie project in the famous Red Lake mining district.
It also posted revised drill assays for intercepts from one hole at the Hinge zone - which was found to be at a higher grade than previously. One intercept was reported as 44.47 g/t (grams per ton) gold over 7 metres on August 22 this year.
This was increased to 68.76 g/t (grams per ton) of the precious metal - over 7 metres (m). Another assay was lifted to 125.84 g/t gold from 81.09 g/t over 3.8, and another was lifted to 228.27 from 143.25.
"After reviewing the intercepts in hole DHZ-004, it was determined that the analytical result from sample number 279693, originally reported as 1.7 g/t gold over 0.5 metres of core length, did not match the visual description of the drill core and was inconsistent with the grade of surrounding samples," noted Bob Singh, the director and vice-president of exploration at Great Bear.
"After consultation with SGS Canada's quality control department, the sample was re-submitted for triplicate assays..."
Latest drill programme
The latest drill programme at Dixie will comprise around 150 holes and will continue through 2018 and 2019.
The expected budget for the work is C$5.5mln, and the firm currently has C$11.5mln on hand following the closing of a C$10.070mln private placing, announced on September 11 this year.
The new drill programme will continue to drill test the Dixie Limb Zone (DLZ), including its various sub-zones such as the Hinge zone and South Limb zones.
Step-out drilling will also test additional targets along the 10km strike length of the DLZ.
Great Bear is earning a 100% royalty-free interest in the Dixie property for remaining payments totalling C$110,000 over three years.
The 9,140-hectare site lies around 15 minutes' drive along Highway 105 from downtown Red Lake, Ontario.
The Red Lake district has produced over 30mln ounces of gold and is one of the premier mining districts in Canada.
Great Bear shares added 2.16% to C$1.89.