Great Bear Resources (TSXV: GBR; US-OTC: GTBAF) has reported new drill results from its $ 21 million fully funded exploration program for its 100% flagship Dixie project, approximately 25 km southwest of Red Lake, Ontario.
The latest drill results are from holes 40 to 150 meters apart in previously undrilled gaps and spacing on a 4th. 200 x 500 meter drilling grid in the LP zone. The zone is a significant gold hosting structure that has been seismically mapped to extend to 14 km and has been interpreted by Great Bear to have a strike length of up to 18 km.
One of the highlights was well BR-212, which crossed 101. 5 meters classification 4. 69 grams of gold per ton from 92 meters, of which 5. 25 meters degree 41. 25 grams of gold from 131 meters. Hole BR-212 returned the highest grade central mineralized interval of 0. 5 meters with 181 grams of gold from 133. 75 meters and is the longest multi-gram gold interval on the project, the company said.
This hole was completed as a 43 meter continuity test of previously reported hole BR-037, according to the Company, which has drilled 25 holes. 25 meters degree 5. 6 grams of gold from 189 meters and 1. 05 meters degree 59. 05 grams of gold from 206. 65 meters. Hole BR-212 is also a 73 meter continuation of the mineralized zone in previously reported hole BR-142 which intersected 53. 5 meters classification 7. 26 grams of gold from 126 meters and 4. 25 meters degree 32. 39 grams of gold from 136. 75 meters.
« All holes have successfully intersected gold mineralization where our pre-drilling models predicted it, » said Chris Taylor, President and CEO of Great Bear, in a press release. “With this release, we have now reported results for 198 holes on the LP Fault since it was discovered just 18 months ago, all of which have intersected gold. ”
Other highlights from the drill program were drill hole BR-211, which intersected several gold intervals, including 8. 85 meters degree 6. 46 grams of gold from 43. 15 meters; 1 meter classification 48. 1 gram of gold from 48. 15 meters; 52 meters classification 1. 54 grams of gold from 70. 25 meters; 32. 3 meter classification 1. 61 grams of gold from 169. 75 meters; and 16. 25 meters classification 1. 2 grams of gold from 385. 75 meters. In total, hole BR-211 intersected 189 meters grading more than 1 gram of gold over 358. 85 meters from the bedrock surface, the company said.
The company plans to produce a preliminary 3D model of the PCB defect and its high grade gold zones from the surface to a depth of approx. Publish 400 meters along 4. So strike 2 km at the end of the month.
According to the company, the same model-driven drilling process will be repeated on more than 80 individual drill sections more than 4 km away from the central LP fault zone. Additional reconnaissance drill sections were spaced 400-1. 000 meters along a further 6 km strike length of the LP flaw, resulting in a total strike length of approx. Corresponds to 11 km.
At the time of going to press in Toronto, Great Bear was trading at $ 16. 16 per share within a 52-week trading range of $ 3. 68 and $ 19. 83. The company has approximately 53 million common shares outstanding for $ 854. 5 million market capitalization.
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Gold, Great Bear Resources, Rover Metals Corp, Meter, CVE: ROVR
EbeneMagazine – CA – Big Bear Advancing Dixie Gold Project in Ontario – The Northern Miner
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