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Great Bear Resources Update on Dixie Project in the Red Lake District of Ontario

Mining News - Published on Tue, 25 Feb 2020

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Great Bear Resources Ltd has reported new developments from its fully funded $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario. The Company has made significant progress in its predictive modeling of gold mineralization at the LP Fault zone, and its regional exploration program. Chris Taylor, President and CEO of Great Bear said, "Ongoing drilling has shown us that the gold-mineralized system at Dixie is at least 11 kilometres in strike extent. These early reconnaissance drill results are very similar to our initial footwall drilling into the LP Fault zone in 2018 and early 2019. We now need to drill in the vicinity of these new occurrences to determine if and where high-grade gold is present, and whether these occurrences are connected. Within the LP Fault zone itself, high-grade gold adjacent to a felsic volcanic/metasediment contact marks an additional similarity to Barrick's Hemlo deposit. The gold deposits at Hemlo display similar geological and structural contexts, and have similar disseminated high-grade gold mineralization as observed at the LP Fault."

Highlights include

Identification of key geological controls to the distribution of high-grade gold mineralization along the LP Fault. High-grade gold mineralization occurs in close proximity to a steeply-dipping felsic volcanic/metasedimentary contact.

The Company has retained Mr. James Gray, P.Geo., an independent consultant from Advantage Geoservices Ltd., to assist Great Bear's geological team with gold mineralization modeling. Mr. Gray's experience includes resource definition drilling and geological modeling at the David Bell mine at the Hemlo gold deposit, formerly operated by Teck Corporation, and currently owned by Barrick Gold Corp

An airborne SkyTEM (electromagnetic) survey has been completed across the property, identifying new regional exploration drill targets. The new targets have similar geophysical characteristics to both the LP Fault zone and the Hinge and Dixie Limb zones. Follow-up drilling is required

13 reconnaissance drill holes were completed outside of previously drilled areas across 11 kilometres of the property. The primary purpose of this drilling was to identify favorable structural and geological settings for additional follow-up drilling. Six new occurrences of highly anomalous gold mineralization have been discovered in 9 of the 13 drill hole

These new gold occurrences include: 1) highly deformed metasedimentary rocks (LP Fault style), and 2) quartz vein systems (Hinge zone style). The geological marker sequence (deformed meta-sedimentary rocks) previously identified at the LP Fault zone has now been intersected along approximately 7 kilometres. Drill density is insufficient at this time to determine what the gold distributions and geometries of these new gold occurrences may ultimately be. Follow-up drilling is required.

The Company has engaged consultants to assist with preliminary metallurgical testing of gold mineralized samples in advance of more advanced studies planned for 2021.

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Posted By : Rabi Wangkhem on Tue, 25 Feb 2020
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