GREAT BEAR Drills Multiple High-Grade Gold Veins in Hinge Zone Including 30.15 g/t Gold Over 7.25 m

 

Vancouver, British Columbia–(Newsfile Corp. – March 21, 2019) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”), today reported drill results from the Dixie Hinge Zone (“DHZ”) and Dixie Limb Zone (“DL”) at its 100% owned Dixie Project in the Red Lake District of Ontario.

Drilling continues to test along strike and at depth of the DHZ. Some of the DHZ drill holes also cross the adjacent DL at shallow depths and hence Great Bear is able to test both zones with the same drill holes. Hinge Zone drill results are provided in Table 1. Highlights of current drilling include:

• Drill hole DHZ-031 intersected four significant gold bearing quartz veins along a 141 metre wide zone of increased quartz veining and alteration in the DHZ vein system.
• Gold-bearing vein intercepts from DHZ-031 include:

a) 7.25 metres of 30.15 g/t gold, which includes 1.50 metres of 130.49 g/t gold,

b) 4.00 metres of 11.72 g/t gold, and

c) 0.50 metres of 60.72 g/t gold.

• The high grade intercepts in DHZ-031 occur 20-60 metres west of previously reported drill hole DHZ-023 which included 3.40 metres of 31.60 g/t gold (see news release of February 21, 2019).

• 26 of 42 drill holes (62%) completed by Great Bear along 240 metres of strike length of the DHZ that has been drilled to date have intersected intervals containing greater than 15 g/t gold.

• Results of shallow drilling of the Dixie Limb Zone are also provided in Table 2.Highlights include 39.20 metres of 2.07 g/t gold starting at approximately 25 metres depth, including 9.20 metres of 5.43 g/t gold which includes 0.70 metres of 20.46 g/t gold.

Chris Taylor, President and CEO of Great Bear said, “The Hinge Zone continues to rapidly expand as we keep stepping out along strike and at depth. In our most recent results, drill hole DHZ-031 intersected a gold-bearing quartz vein network consisting of multiple high grade veins within a 141 metre (462 foot) wide drill interval. All current drilling is designed to cross the Hinge Zone at approximately right angles, meaning the interval widths are approximate true widths. The vertical depth of the DHZ-031 intervals ranges from approximately 60 to 190 metres from the surface. The scale and strength of near-surface multi-veined gold mineralization at the Hinge Zone continues to impress.”

An updated long section through the Hinge Zone is provided in Figure 1, showing the location of current reported drill intercepts. Images of high grade gold mineralization from DHZ-031 are shown in Figure 2.

The Company continues to undertake a fully funded, 30,000 metre drill program that is expected to continue through 2019. In order to accelerate the program, a second drill rig was added in early 2019. Approximately 13,000 metres of drilling remain in the current program.

Table 1: Most recent drill results from Hinge Zone drilling.

 * reported width is determined to be 90-95% of true width based on intersection points of the drill hole intercept with the geological model and oriented drill core data.

Drilling in the Dixie Limb continues to define shallow, wide intervals of gold mineralization, including high grade sub-intervals. The DL drill intervals are presented separately in Table 2. As drill holes like DHZ-026 are collared north of the DL and drill southwards into the DHZ at depth, these holes carry intervals from both zones.

Two exploratory step-out drill holes, DL-038 and DL-039 have encountered a new gold-mineralized silicified sediment zone similar to the DL. These holes were drilled from the DL across the D2 axial planar fault that divides the DL from the DHZ towards the south, into an area east of the DHZ. Results are included along with DL drill results in Table 2. These intercepts may represent a new zone of gold mineralized sediments, or may be an offset continuation of the Dixie Limb Zone in the footwall of the fault. Follow-up drilling is required to characterize this new discovery.

Two exploratory step-out drill holes, DHZ-024 and DHZ-025 were also completed east of the Hinge Zone fold closure (outside of the Hinge Zone) and encountered anomalous gold values of 0.92 metres of 1.46 g/t gold and 0.50 metres of 1.52 g/t gold, respectively, confirming gold is also present in this new area. Follow-up drilling is required to determine if significant gold-bearing quartz veining is also developed in this new area.

Table 2: Current drill results from the Dixie Limb Zone.

 *All reported widths are drill indicated core length. Insufficient data has been collected at this time to determine true widths. **These drill holes have intersected mineralized sediments in the footwall of the local D2 axial planar fault located south the DL, and east of the DHZ. They may represent a new zone, or offset continuation of the DL.

 

Figure 1: Composite Long section through the DHZ (view to north) as drilled to-date showing currently reported drill results, and the location of recent step-out drilling. New results are highlighted in yellow.

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