Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBAF) (FRA:0G6A) released another round of drill results from three new holes at the LP Fault zone on the company’s flagship Dixie project in Red Lake, Ontario.
Results from drill section 19925 included 13.4 grams per ton (g/t) gold over 18.2 metres (m) from around 30 to 48m, including a high-grade core of 38.4 g/t gold over 5.5m from 36.5 to 42m in hole BR-253.
Another hole, BR 250B, contained several mineralized intervals, including 4.9 g/t gold over 16.5m and 4.3 g/t gold over 57m, including a high-grade core of 63.5 g/t gold over 1.9m.
READ: Great Bear Resources says LP fault drilling continues to underline the gold target's credentials
“With tighter drilling we have observed the same exceptional gold zone continuity at 25 metre drill spacing, both along strike and vertically, as we previously observed at 100 to 200 metre spacing,” Great Bear CEO Chris Taylor told shareholders in a statement.
The Vancouver-based company is planning to complete around 100 drill sections similar to Monday’s section – or over 400 drill holes in total – by the end of 2021, Taylor added.
“It's worth emphasizing that all of this drilling is within the same continuous gold zone along more than 4 kilometres of strike length, which remains open to extension in all directions, and is present from bedrock surface,” the CEO said.
The LP Fault is around an 18 kilometre gold target that is being continuously explored by the company. In 2020, Great Bear completed 112,000m of drilling, spending C$23 million, and has so far published results from 220 LP Fault holes.
In January, the company released results from the LP Fault that included 1.3 g/t gold over 29.5m from bedrock surface starting at 18m depth in one hole, and 3.2 g/t of gold over 19m from bedrock surface, from 23m in another.
Highlight shallow but high-grade drill results included 16.6 g/t gold over 11m from 162.5 to 173.5m depth in one hole and 25.4 g/t of the precious metal over 4.7m from 139.4 to 144m in another.
For 2021, it has a minimum budget of C$25 million and plans to drill over 130,000 additional metres before the end of the year.
Dixie is a highly prolific, 100%-owned project comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located about 25 kilometres southeast of the mining town of Red Lake, Ontario.
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