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

News Update


Explorer Reports 'Multiple Gold Discoveries' at Red Lake Project
News Update

Share on Stocktwits


The company calls its first month of reconnaissance drilling along the LP Fault "highly successful."

Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) announced in a news release it made multiple gold discoveries via reconnaissance drilling along the strike length of the 18 kilometer LP Fault at its Dixie project in Ontario's Red Lake District.

"While the total extent of gold mineralization along the LP Fault is unknown, we have now confirmed gold in all drill holes that intersected the fault along 3.2 kilometers, and will continue aggressive stepout and stepdown drilling until we find the system's limits," President and CEO Chris Taylor said in the release.

Through its early reconnaissance drilling, Great Bear identified a new high-grade zone, Auro. This was discovered through a stepout hole to the southeast of Bear-Rimini. Gold intercepts at the Auro zone included 101.7 grams per ton (101.7 g/t) over 1.5 meters (1.5 m), within 10.65 g/t gold over 17.25m.

Drilling also extended the Yuma zone from the near surface to a vertical depth of 480m, and mineralization there remains open. Gold intercepts in Yuma included 27.77 g/t over 2m within 11.08 g/t over 7m.

Next to and around all of these high-grade intercepts, Great Bear drilled wide intervals of disseminated gold mineralization, and all extended to the near surface.

In the release, the explorer pointed out that the gold mineralization associated with the LP Fault is atypical of that found in the Red Lake District. Rather, it noted, "early observations suggest that gold is associated with a large-scale deformation zone near the contact between sediments and felsic volcanics."

Great Bear intends to continue drilling along most of the LP structure, aiming to complete it by this time next year. The company states that it has the necessary funds for this work.


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