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Great Bear Resources hails yet more strong drill assays from LP Fault at Dixie project

The focus of drilling at the asset continues to be the LP Fault, which is basically an 18 kilometre long target

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Highlight assays included 9.34 grams per ton (g/t) gold over 4.55 metres (m), within a broader interval of 3.24 g/t gold over 21m

Great Bear Resources Ltd (CVE:GBR) (OTCQX:GTBAF) has reported yet more stellar drill results from its flagship Dixie gold project in Red Lake, Ontario and also updated on its geological modelling work.

The focus of drilling continues to be the LP Fault, which is basically an 18 kilometre (km) long target, where shallow high-grade gold mineralization continues to be found.

READ: Great Bear Resources returns to five drill rigs at Dixie gold project

Two new drill sections have been completed within a previously undrilled 140 metre (m) long segment of the LP Fault, Great Bear told investors, with a highlight intercept being 81.22 grams per ton (g/t) gold over 10.5m.

Other highlights included 9.34 g/t gold over 4.55m, within a broader interval of 3.24 g/t gold over 21m. Another hole hit 23.46 g/t gold over 8.80m, including a higher-grade sub-interval of 231 g/t of the yellow metal over 0.5m. The total mineralized interval was 3.73 g/t gold over 65m.

"Over the past months we have regularly intersected predictable high-grade gold intervals at the LP Fault within the broad bulk-tonnage style gold system," Chris Taylor, Great Bear's chief executive said in a statement.

"This positive development is underscored by both styles of mineralization extending from bedrock surface to the limits of current drilling at depth. We are currently building an updated geological model to account for the majority of this high-grade mineralization, and provide early descriptions of this work in this release," he added.

So far, Great Bear said it has identified two discrete high-grade corridors through interpretation and re-logging of drill core from within the LP Fault.

These are an 'Upper Vein Zone' where gold occurs in both veins and wall rock and is interpreted to extend for more than 700m of strike, which remains open in all directions.

Meanwhile, a 'High Strain Zone' is interpreted through multiple drill holes to extend along a strike length of at least 1.1km, which remains open in all directions, the firm said.

Great Bear continues to interpret data to refine the geological model for the entire Dixie property.

The company is in the throes of a funded C$21 million exploration program and has so far completed 126 of around 300 planned drill holes into the LP Fault target, as part of a 5km long by 500mdeep grid drill program.

Shares nudged up 4.24% in early Toronto deals to C$17.70.

---Updates for share price---

Contact the author at giles@proactiveinvestors.com

Quick facts: Great Bear Resources

Price: 16.08 CAD

TSX-V:GBR
Market: TSX-V
Market Cap: $815.37 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...

1 week, 5 days ago

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