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Great Bear Resources hails 'excellent' continuity of gold mineralization at LP Fault at Dixie project

Notably, it has expanded the shallow, high-grade gold mineralization identified, the company said

Great Bear Resources -
In one hole, 42.70 grams per ton gold over 3 metres was unearthed, including 118 g/t gold over 0.5 metres

Great Bear Resources Ltd (CVE:GBR) (OTCMKTS:GTBDF), the Red lake gold explorer, continues to report 'excellent' finds at its flagship Dixie project, where a 300 hole drill program remains on track to be completed by the end of the year.

So far, the firm has sunk 83 holes into the LP Fault target of the 300 planned within a fully funded $21 million exploration program and gold mineralization has been found in all holes, for which assays have been returned.

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Notably, the firm has expanded the shallow, high-grade gold mineralization identified, it said.

In one hole, 42.70 grams per ton (g/t) gold over 3 metres was unearthed, including 118 g/t gold over 0.5 metres, within a broader interval of 4.24 g/t gold over 52.15 metres.

Another hole hit the on-strike continuation of the same shallow mineralization. Assays here included 23.17 g/t gold over 3.5 metres, within a broader interval of 3.10 g/t gold over 48 metres.

In addition, a series of nine holes were completed within a previously undrilled gap in the LP Fault system (formerly called the Gap zone). Highlights here included a hole, which intersected 9.35 g/t gold over 6.5 metres, including 97.50 g/t gold over 0.50 metres, within a broader interval of 1.66 g/t gold over 46.10 metres.

"We continue to observe excellent lateral and vertical continuity of mineralization within the LP Fault gold system," Chris Taylor, Great Bear's president and CEO said in a statement.

"Despite the ongoing COVID-19 pandemic, we have been able to maintain drill operations while continuing to protect our work crews with strict risk mitigation protocols," he added. 

"All geologists and geotechnical staff on site are Red Lake residents, which gives us sufficient staff for three of our five drill rigs to remain active.  We plan to return to full drill capacity once pandemic-related work restrictions are lifted, and it is safe to do so.   However, even with three active drill rigs the full estimated 300 drill hole program remains on track to be completed by December 2020."

The wholly-owned Dixie asset comprises 9,140 hectares of contiguous claims that extend over 22 kilometres, and lies around 25 kilometres southeast of the town of Red Lake, Ontario.

Shares advanced over 12% in Toronto to C$7.19 each.

---Updates for share price---

Contact the author at giles@proactiveinvestors.com

Quick facts: Great Bear Resources

Price: 15.87 CAD

Market: TSX-V
Market Cap: $804.72 m

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Great Bear Resources releases more positive results from Dixie as they...

Great Bear Resources (CVE: GBR-OTCQX: GTBAF) President and CEO Chris Taylor joined Steve Darling from Proactive Vancouver with news the company continues to define the gold mineralization with more results from their work on the LP Fault at the Dixie Project. Taylor discusses those drill...

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