Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTCQX) announced in a news release that all assays returned from drilling thus far at the LP Fault target intersected gold mineralization. The LP Fault is part of the company's Dixie project in Ontario's Red Lake District.
Chris Taylor, president and CEO of Great Bear said, "We continue to observe excellent lateral and vertical continuity of mineralization within the LP Fault gold system. Despite the ongoing COVID-19 pandemic, we have been able to maintain drill operations while continuing to protect our work crews with strict risk mitigation protocols. All geologists and geotechnical staff on site are Red Lake residents, which gives us sufficient staff for three of our five drill rigs to remain active."
"We plan to return to full drill capacity once pandemic-related work restrictions are lifted and it is safe to do so," Taylor added. "However, even with three active drill rigs, the full estimated 300 drill hole program remains on track to be completed by December 2020."
Of those planned 300 holes for the LP Fault drill program, Great Bear completed 83 to date. All 300 are part of its 5 kilometers long by 500 meters deep grid drill program there.
The results from new lateral and vertical drill spacing on 25–100 meter (25–100m) centers confirmed that gold mineralization is continuous in multiple drill sections, the company stated.
Also, it noted that the results demonstrated expansion of the shallow high-grade gold at the LP Fault. For example, hole BR-101 returned 42.7 grams per ton (42.7 g/t) gold over 3m, including 118 g/t gold over 0.5m, within a broader interval of 4.24 g/t gold over 52.15m.
Drill hole BR-102, collared 143m southeast of BR-101, hit the on-strike continuation of the same shallow mineralization. BR-102 demonstrated 23.17 g/t gold over 3.5m, within a broader interval of 3.1 g/t gold over 48m.
The previously undrilled gap in the LP Fault system was drilled with nine holes. Highlights included drill hole BR-120 that intersected 9.35 g/t gold over 6.5m, including 97.5 g/t gold over 0.5m. Those were within a broader interval of 1.66 g/t gold over 46.1m.
Further, drill hole BR-121, drilled in the same section as BR-120, intersected 4.91 g/t gold over 6.4m, including 18.1 g/t gold over 1m. Those were within a broader interval of 1.07 g/t gold over 73.85m.
"Results show apparent continuity of gold mineralization over approximately 400 vertical meters from surface in this area, which remains open to extension in all directions," the release noted.
Read what other experts are saying about:
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.
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.