Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update

TICKERS: GBR; GTBDF

Historical Drill Core Reveals New High-Grade Gold Zone at Red Lake Project
News Update

Share on Stocktwits

Source:

This comes on the heels of another discovery by the company, nearby in the same fault zone.

Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) discovered via a historical drill core a high-grade gold zone, Yuma, at Dixie in Ontario's Red Lake District, it announced in a news release.

"This is the cheapest discovery hole we've ever had, since the high-grade, visible gold interval was sitting unreported for 12 years in drill core stored on the property," President and CEO Chris Taylor said in the release.

The revelatory, non-assayed hole was DC-12-07, drilled by a previous operator in 2007. It was a 1.4 kilometer (1.4 km) stepout hole on the LP Fault, southeast of the Bear-Rimini discovery hole DNW-011, and was the only other hole drilled to date into the LP Fault's footwall. The lowest meters of DC-12-07 intersected silicified volcanic rocks and higher up, the hole hit low-grade mineralization, both similar to the Bear-Rimini discovery.

Yuma and Bear-Rimini indicate that high-grade gold is present in both locations where the footwall of the fault was drilled. Yet, most of the LP Fault's 18 km of projected strike length have not been tested. As such, Great Bear will drill further stepouts along the LP Fault and the parallel North Fault to delineate the system's extent and its mineralization distribution pattern. Follow-up drilling is already in progress.

Additionally, the company started to re-log and sample all of the available historical drill core from areas north of the LP Fault zone. Results of that work will be released when available.

[NLINSERT]

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 three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.





Want to read more about Gold investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe