Great Bear Resources Ltd (CVE:GBR) says it's only "scratching the surface" of the potential at the Dixie Limb zone (DLZ) at the Dixie project in Ontario as it released latest drill results.
The DLZ (Dixie Limb zone) in the Red Lake district is a multi-kilometre gold-mineralized contact north of Great Bear's recent high-grade gold discoveries at the Hinge and South Limb zones and was the target of most of the historical drilling.
The firm has now reported a continuity of gold from surface-down to 365 metres depth at the zone.
"While much of the past exploration work at Dixie was high-quality, later interpretations of zone geometries were hampered by incorrect data," said Chris Taylor, president and chief executive officer of Great Bear.
Oriented drill core and gyroscopic surveys cut through the effects of the magnetic background rocks, which skewed past drilling and observe a consistent mineralized zone at the DLZ structure, Taylor explained.
"This mineralization is open along strike and at depth," he added. "While more than 360 metres of continuity is a strong start, gold deposits in Red Lake often extend to kilometres of depth, and from that perspective, we are only just scratching the surface of this zone's potential."
Big Picture: Great Bear Resources has two highly prospective gold targets in the Red Lake mining district of Ontario
Highlights from the latest nine holes at the DLZ zone showed intercepts of 6.71 grams per tonne (g/t) gold over 3.10 metres and 6.16 g/t gold over 2.30 metres, said Great Bear.
DLZ mineralization generally increases in thickness and gold grade with depth. Intervals of higher grades (greater than six g/t gold) were hit in five of the nine holes.
Great Bear is now conducting a 30,000-metre, 150-drill-hole drill program expected to continue through 2018 and 2019.
Targets for drilling include the Hinge zone, SLZ and DLZ, as well as a number of newly defined, highly prospective geological and structural targets across the project. Results will continue to be released in batches as received
The firm also reports that 15 additional drill holes have now been completed in the Hinge and South Limb zones (SLZ). Results, not included here, are expected in one to two weeks.
Contact Giles Gwinnett at giles@proactiveinvestors.com
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