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TICKERS: GBR; GTBDF

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

Source:

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.

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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.
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