Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBAF) has reported additional drill results from the company’s $21 million exploration program at its 100% owned Dixie Project in the Red Lake district of Ontario.
The highlights included 101.50 metres (m) at 4.69 grams per tonne (g/t) gold and 5.25m of 41.25 g/t gold at the LP Fault.
Great Bear Resources noted that it is using the same model-driven drill process that is being repeated on more than 80 individual drill sections across more than four kilometres of the central LP Fault zone, adding that all holes to date have intersected gold mineralization.
READ: Great Bear Resources is well financed and drilling at one of the largest new gold discoveries in Canada
In a statement, Great Bear Resources CEO Chris Taylor said: "Drill holes reported in this release are from large, 40 – 150 m undrilled gaps and step-outs in the previously completed drill grid. All holes successfully intersected gold mineralization where predicted by our models prior to drilling.
"With this release we have now reported results for 198 drill holes at the LP Fault since its discovery just 18 months ago, all of which have intersected gold. We are preparing to release a preliminary 3D model of the LP Fault and its high-grade gold zones from surface to approximately 400 metres depth along 4.2 kilometres of strike length on November 30, 2020."
Great Bear Resources said that high-grade zones within the larger disseminated gold zone have been incorporated into the company's models, defining what it calls “predictable, structurally controlled, sheet-like geometries of gold mineralization.”
The company added that it anticipates completing more drill holes between BR-036 and BR-037, and between BR-142 and BR-067, with further drilling to be undertaken below drill hole BR-067, where mineralization is present from bedrock surface and remains open at depth.
The Dixie Project consists of 9,140 hectares of contiguous claims that extend over 22 kilometres, located just southeast of the mining town of Red Lake, Ontario. The company’s C$21 million exploration program includes 300 planned drill holes that are expected to be completed before the end of 2020.
A complete assay table for all LP Fault drill holes completed to date is posted to the company's web site at: www.greatbearresources.ca
The company also reminded interested shareholders that a live webinar will take place on Monday, November 30 at 9.00am PST/12.00pm EST. Management will be available to answer questions following the presentation. Online registration and participation details may be found at the following link: https://us02web.zoom.us/webinar/register/WN_XCKIzugJTFOETejNpYYGyg
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