Proactive Investors - Run By Investors For Investors

Great Bear sees significant potential for high-grade gold deep at Hinge Zone at Ontario project

Notably, Great Bear has now completed 30-meter and 100-meter step-down drill holes within the Hinge zone
Mining gear
The Great Bear team pictured at Red Lake

Great Bear Resources Ltd (CVE:GBR) (OTCMKTS:GTBDF) reported on Tuesday more encouraging drill assays from the Dixie Lake project in the famous mining area of Red Lake, Ontario, Canada.

Today's assays come from the Dixie Hinge zone (DHZ) and also from  other new gold zones, which have been identified at the 100%-owned project.

Notably, Great Bear has now completed 30 meter and 100 meter step-down drill holes along the projected plunge and dip of two high-grade gold trends within the Hinge zone and both holes  hit identical styles of high grade gold.

READ: Great Bear Resources hails Dixie Limb Zone findings; set to option West Madsen property

One hole here hit 3.70 meters of 28.37 g/t (grams per ton) gold, including a very high grade interval of 0.5 meters of 200.25 g/t gold, the firm revealed, adding that this was the deepest high grade intercept in the Hinge zone to date.

The Hinge zone appears to have significant high-grade depth potential, Great Bear told investors.

"The DHZ discovery yields something exceedingly rare in our industry: the more Great Bear drills it, the more compelling the target becomes," said Chris Taylor, the president and CEO of the firm.

Approximately 40,000 meters of drilling remain in the current 60,000-meter drill program, which is expected to continue through 2019. A second drill rig was added early this year and a third is expected soon.

The firm noted that results so far suggest the center of high grade gold vein development lies west of Great Bear's original Hinge Zone discovery, and possibly at depth below the DMS and DSL (south limb) targets.

A 'look-alike' zone

A new "look-alike" to the Dixie Limb Zone of gold has been intercepted 400 meters to the west of the Hinge Zone. These drill holes are coded "DMS", the firm noted.

Highlight assays here include 1 meter at 12.93 g/t (grams per ton) gold. That was  within a broader interval of 4.65 meters of 3.04 g/t gold, the company said.

The  firm's Dixie property lies around 15 minutes' drive along Highway 105 from downtown Red Lake, Ontario.

This district has produced over 30 million ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake

Gold Mine of Goldcorp Inc, plus modern infrastructure and a skilled workforce.

Great Bear shares in Toronto slipped around 6% to $2.39 each.

Contact Giles at [email protected]

Follow him on Twitter@Gile74

View full GBR profile View Profile

Great Bear Resources Timeline

Related Articles

January 30 2019
The company is expanding Cue’s existing gold deposits as it defines the newly-discovered Lake Austin North gold system.
Drilling equipment on a Yandal site last year in 2018
January 10 2019
The ASX newcomer is backed by Northern Star Resources which holds a 15% stake.
White Mesa Mill
Headquartered in Colorado, Energy Fuels is a fully-integrated producer of both uranium and vanadium, and owner of the only operational conventional uranium mine in the US

© Proactive Investors 2019

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use