Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) announced the results of its recent geological mapping, which revealed a new geological discovery at its flagship Dixie project in Ontario.
The company identified a "critical ultramafic rock unit in outcrop" with a strike length of at least 2 kilometers," noted a news release. "The unit is folded into the D2 fold axis that is associated with gold in the primary drill areas at Dixie."
"Great Bear's geological interpretation suggests we are drilling a dominantly mafic greenstone belt with comparable geological, structural, alteration and gold mineralization characteristics to the main Red Lake greenstone belt, where over 30 million ounces of gold have been produced from 28 gold mines," President and CEO Chris Taylor said.
Also through geological mapping, the company confirmed the location of historical surface trench results. These include a high-grade gold mineralization about 200 meters (200m) northwest of the recent South Limb zone discovery, which is one of the newly identified targets.
Great Bear delineated several additional D2-related fold hinges with potential for mineralization like that found in the Hinge zone. This also has been selected for further drilling.
Finally, it discovered a significant geological contact between Dixie's western and eastern portions.
Great Bear has underway a 30,000m, roughly 150-hole, fully funded, 2018–2019 drill program at Dixie, and investors can expect news flow throughout the period. The campaign will encompass drilling of the company's high-grade gold discoveries at the DLZ, Hinge and SLZ zones, in addition to its recently discerned targets.
Read what other experts are saying about:
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Great Bear Resources. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.
