- Great Bear Resources (TSXV:GBR) has intersected compelling deep drilling results at its flagship Dixie Project in Ontario’s Red Lake district
- By extending a previously drilled hole, the company has approximately doubled the length of the property’s Dixie Limb zone
- Furthermore, new gold assays suggest that the Dixie Limb and Hinge zones may intersect at depth
- During the drill program the company intersected 0.19 grams per tonne of gold over 19 metres
- Great Bear Resources (GBR) is up 11.31 per cent, with shares trading for C$12.30 and a $584.5 million market cap
Great Bear Resources (TSXV:GBR) has intersected compelling deep assays at its flagship Dixie Project in Ontario’s Red Lake district.
Recent exploration work at the site extended a hole, drilled last month, down to a depth of 1,509 metres. In doing so, the company approximately doubled the length of the Dixie Limb zone.
Furthermore, the presence of gold-bearing quartz veins could indicate an extension to the site’s Hinge zone. This suggests the two previously separate zones may in fact join at depth.
During the drill program the company intersected 10.19 grams per tonne of gold over 19 metres. Within this assay was a further 68.59 grams per tonne of gold over 2.65 metres.
The company’s highest-grade assay was 133.50 grams per tonne over one metre.
Great Bear’s CEO, Chris Taylor, said the high-grade assays and extension to the Hinge and Dixie Limb zones are very promising.
“These results define a new, high-priority exploration target that has the potential to combine the predictable geometry of the Dixie Limb zone with the higher gold grades of the Hinge zone.
“Several of the existing fault drill holes are ideally located to be similarly extended to deeply target the Dixie Limb and Hinge zones at significantly lower costs than if we had to collar new holes from surface,” he said.
The company will now focus on further deep drilling, to better outline the mineralisation of the Dixie Limb and Hinge zones at depth.
Great Bear Resources (GBR) is up 11.31 per cent, with share trading for C$12.30 at 12:51pm EDT.
