Great Bear Resources (TSX-V:GBR) Ltd, released results from its ongoing fully funded $45 million 2021 exploration program at its flagship Dixie project in the Red Lake district of Ontario.
The program includes seven new drill holes which are representative of deeper LP Fault mineralization across a broad area of 1.4 kilometers of strike length between approximately 450 and 750 meters downhole depth.
Going forward, deeper drilling will continue along an additional 2.6 kilometers of strike length during the ongoing Phase 2 program.
READ: Great Bear releases complete assays from high-grade gold domain at the Dixie project; updates geological modelling
"Our systematic deep drilling of the LP Fault along 1.4 kilometers of strike length has successfully intersected the target geology with gold mineralization in all areas,” Chris Taylor, president and CEO of Great Bear said in a statement.
Taylor continued: “These results establish significant continuity of both high-grade and bulk tonnage style gold over a broad area at depth, which remains open to extension in all directions. The LP Fault has no geological analogs in the Red Lake district, with the closest being the Hemlo gold deposit located near Marathon, Ontario."
The precious metals explorer also noted, the same pattern of high-grade domains surrounded by lower grade envelopes are observed as had previously been drilled at shallower depths.
Additionally, it was stated that these new drill holes are not infill drilling, and significantly extend gold mineralization to depth on their respective drill sections.
Highlights include:
- New drill hole BR-385 intersected multiple high-grade gold domains, including 157.00 grams per tonne (g/t) gold over 1.20 meters from 696.45 to 697.65 meters downhole, within a broader interval of 41.76 g/t gold over 5.15 meters from 696.45 to 701.60 meters.
- New drill hole BR-386 intersected 16.92 g/t gold over 4.90 meters from 525.00 to 529.90 meters downhole, within a broader interval of 2.21 g/t gold over 49.55 meters from 522.45 to 572.00 meters downhole;
- New drill hole BR-411 intersected 13.84 g/t gold over 3.15 meters from 459.15 to 462.30 meters downhole;
- New drill hole BR-384 intersected multiple mineralized intervals including 50.50 g/t gold over 1.00 meter from 587.50 to 588.50 meters downhole, and 6.71 g/t gold over 6.30 meters from 687.50 to 693.80 meters downhole. The total mineralized interval was 3.97 g/t gold over 17.50 meters from 687.50 to 705.00 meters downhole.
Great Bear also noted 17 additional drill holes intersected the shallow LP Fault along 3.6 kilometers of strike length. An additional 16 shallow drill holes were collared outside the LP Fault zone and targeted areas up to 200 meters away from the zone which may be incorporated into any future mineral resource estimation or infrastructure development planning.
Including today’s news, Great Bear has now reported 446 LP Fault drill holes for 300,000 meters of drilling at the Dixie property.
The company plans to continue ahead with Phase II expansion drilling in hopes of significantly expanding the drill confirmed extent of gold mineralization at the LP Fault by late 2022.
Phase II drilling will also include regional drilling of new targets, and mineral resource definition and expansion drilling of the Dixie Limb and Hinge zones. The company is fully funded for this work.
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