Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) announced in a news release it discovered, from the Dixie Hinge zone at its Dixie project, "one of the widest near-surface occurrences of veining and alteration hosting high-grade gold reported on the project to date, and has also successfully extended the Hinge zone at depth." These findings were revealed through the latest eight drill holes.
"We continue to be surprised by the strength and scale of the gold system at Dixie," President and CEO Chris Taylor said in the release.
Generally, the Hinge zone vein and alteration system showed a maximum estimated true width of 42 meters (42m). It appeared to encompass individual veins more than 14m wide and, in four of the eight holes, numerous gold-bearing veins.
Specifically, highlight hole DHZ-023 demonstrated 3.4m of 31.6 grams per ton gold (31.6 g/t Au), including 1.75m of 61.05 g/t Au, along with 2.8m of 9.91 g/t Au, including 1.5m of 17.88 g/t Au.
Great Bear intends to continuing its drilling throughout 2019 and 2020 "to extend the strike length, depth and number of gold zones at the Dixie Hinge," per the release. A second rig is now drilling to test various targets the company has newly identified as having strong potential for hosting gold.
In other news, Great Bear granted an aggregate of 500,000 stock options to company employees, directors, consultants and advisers that is exercisable for five years at $3.72 per share.
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