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News Update


Explorer Makes Three More Gold Discoveries at Red Lake Project
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One, which was large, high grade and within meters of surface, is of major import.

Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) made three additional gold discoveries in recent results from drilling primarily along the LP Fault at its Dixie project in Ontario's Red Lake District, it announced in a news release.

Results focused on the new Yauro zone, situated between the Yuma and Auro zones. Great Bear's first of the three new discoveries reported in this release was there, where "a significant structural dilation has localized multiple high-grade gold mineralized intervals" spanning 300 meters (300m) of width, the release noted.

"Two drill holes collared 125m apart were required to cross what we interpret as a major dilatancy or 'blow' along the LP Fault at Yauro, Great Bear President and CEO Chris Taylor said in the release. "Finding something this large and high-grade within meters of the surface is one of the most important discoveries on the project to date."

Yauro intervals included 32 grams per ton (32 g/t) gold over 2.65m and 21.33 g/t gold over 3.3m, within a wider interval of 5.14 g/t gold over 37.4m. Another was 30.66 g/t gold over 3.45m within a wider interval of 5.6 g/t gold over 25.25m.

Like other drilled areas along the LP Fault, as Yauro deepens, its width and the incidence of gold intervals therein increase.

Great Bear's second discovery was in the Viggo zone, which it encountered 1 kilometer (1 km) southeast of Auro. Viggo extended the LP Fault gold mineralized system to 4 km of strike length that remains open.

The exploration company made the third discovery through one hole drilled in the North Fault zone that runs parallel to the LP Fault. The drill hit Hinge zone-style, gold-bearing quartz veins, geology also seen in the Hinge and Limb zones that flank Yauro. The LP Fault discovery, including Yauro, is not typical of Red Lake-style gold deposits. The explorer intends to further drill the 18 km long North Fault target.


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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