Great Bear Resources (TSXV: GBR; OTC: GTBAF) drilled bonanza grades at its 100%-owned Dixie gold project near Red Lake, Ont., As it works on the initial resource estimate for the project, expected in the first quarter 2022.
Multiple high grade intervals were returned from new holes in the deeper LP fault across a strike length of 1.4 km, not infill drilling, said the company.
Hole BR-385 intersected 1.2 metres grading 157 g/t from 696.5 metres downhole. This was part of a broader interval of 5.15 metres grading 41.76 g/t gold. Composite intervals do not include more than 3 metres assaying less than 0.1 g/t gold (the same criteria applied to the shallow LP fault zone when it was discovered).
Great Bear also said it may be more realistic to exclude peripheral bulk tonnage style mineralization when determining criteria for future underground developments. In that case the interval would be 22.9 metres assaying 11.01 g/t gold from 678.8 metres downhole.
Hole BR-386 intersected 4.9 metres grading 16.92 g/t gold within 49.6 metres averaging 13.84 g/t gold from 522.5 metres downhole.
Hole BR-411 intersected 3.2 metres grading 13.84 g/t gold from 415.2 metres downhole. The company says this hole is significant because it cut high-grade gold below the gap area of the LP fault, and it is over 500 metres above the deepest LP fault intercept to date. The deepest hole to date, BR-260, intersected 3.1 metres grading 15.57 g/t gold from 942.2 metres and was reported in March.
Hole BR-384 intersected multiple mineralized intervals including 1 metre at 50.5 g/t gold and 6.3 metres at 15.57 g/t gold. The total interval was 17.5 metres averaging 3.97 g/t gold from 687.5 metres downhole.
Great Bear’s $45-million 2021 drill program is fully funded. The company is now focusing on phase two drilling of the LP fault to expand mineralization between 450 and 900 metres depth over a 4-km strike length by late 2022. The second phase will include drilling new targets as well as resource definition and expansion of the Dixie Limb and Hinge zones.
By the end of next year (2022), the company says it will have an initial resource estimate and a preliminary economic assessment for the LP Fault zone based on phase one drill results; a resource update including the results of deeper drilling at the LP Fault; and initial resource estimates for the Dixie Limb and Hinge zones.
More information is posted on www.GreatBearResources.ca.