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Last Post: 3/25/2019 5:12:10 PM - Followers: 1 - Board type: Free - Posts Today: 0

GREAT BEAR RESOURCES  https://greatbearresources.ca/

Dixie Project

In July 2017, the company entered into a purchase agreement with Newmont Mining to acquire Newmont’s 33% stake in the project for $80,000 in total cash payments over 4 years.

In September 2017, the company acquired an additional 26 minerals claims and today the Dixie property covers 9,140 hectares.

In November 2018 Great Bear completed the purchase of 100% royalty -free interest in the Dixie Gold Project, Red Lake Ontario.

At the Dixie Project, gold mineralization is confirmed along a 2.3 km strike of a 10 km target. The system at Dixie has a high-grade gold zone that includes recent intervals of 16.35 metres of 26.91 g/t gold and 7.00 metres of 68.76 g/t gold and is open along strike and at depth.

The above results prompted a $6 million investment by Rob McEwen and McEwen Mining, as part of a $10 million financing completed in September 2018. Combined with historical drilling, over 198 drill holes for 30,000 metres have been completed at Dixie. In March of 2018 Great Bear commenced a 10,000 metre drill program, of which results from 5,000 metres in 23 holes had been reported as of August with an additional 5,000 metres underway.

2019 Drilling Highlights to Date:

Hinge Zone

DHZ-014 – 0.70 m of 1602.73 g/t Au

2018 Drilling Highlights:

Hinge Zone

DHZ-003 – 16.35 m of 26.91 g/t Au

-Incl. 5.05 m of 51.39 g/t Au
-and Incl. 1.0 m of 112.63 g/t Au

DHZ-004 – 7.00 m of 68.76 g/t Au (15 m vertically below DHZ-003)

-Incl. 2.00 m of 228.27 g/t Au,
-Incl. 1.00 m of 302.48 g/t Au

DHZ-002 – 17.18 g/t Au over 1.7m

-Incl. 46.3 g/t Au over 0.60m

DHZ-001 – 10.15 g/t Au over 1.25m

Hanging Wall Zone

DL-005 – 10.40 m of 16.84 g/t Au 

DL-009 – 12.41 g/t Au over 1.5m
-Incl. 30.20 g/t Au over 0.55m

DLZ 1.6km Step Out

DNW-001 – 12.74 g/t Au over 1.7m

Geology at Dixie:

Dixie is a typical Archean mesothermal gold vein system located approximately 20-25 km from significant mines that share the same geological and metallogenic characteristics (Red Lake, Madsen and Rahill-Bonanza). Dixie hosts a series of mafic-felsic sequences within the Red Lake Greenstone Belt. Significant folding and thinning of the greenstone lends itself to enriched zones of gold mineralization.

2017 Drilling Highlights

In 2017 Great Bear completed an 8-hole, 1,000 metre drill program at Dixie. Highlights include:

Dixie Limb Zone

DL005 – 10.40 m of 16.84 g/t gold including 1.05 m of 130.10 g/t gold

DL004 – 6.30 m of 5.56 g/t gold including 1.0 m of 8.33 g/t gold

DL001 – 4.60 m of 4.07 g/t gold including 0.50 m of 10.50 g/t gold

DL003 – 13.75 m of 2.11 g/t gold including 1.5 m of 5.42 g/t gold

Past Work Programs

Examination of historic work on the project by Company geologists have identified several inconsistencies in the database that led to an underestimation of gold grades. The Company continues to evaluate this and test the exploration potential created by the structural folding of the mineralization sequences, which lend themselves to the formation of higher grade ore shoots.

Drilling highlights from the historical database include: 2.2 m at 17.2 g/t gold in hole DC-08-01R; 4.6 m grading 9.75 g/t gold in hole DL-04-04; and 1.97 m grading 17.77 g/t gold in hole DL-89-9.

While the project has an extensive history of exploration, Great Bear believes it’s new interpretation of the geology and structure should allow for a much more focused exploration program on these higher grade shoots as well as testing parallel zones that have been identified as a result of the compilation studies of the extensive historical data available. Recent drilling, announced September 7, 2017, has led to a better understanding of the structural and geological relationships of high-grade gold at Dixie Lake.

 

 

West Madsen

Click here to add your own textIn August 2017, Great Bear signed a purchase agreement to acquire 100 percent ownership of an expanded West Madsen gold project in the Red Lake Gold District. The total remaining payments to acquire a 100% interest in the West Madsen property is $124,000 over four years plus payment of 100,000 common shares of Great Bear. All royalties at the Madsen project are being purchased for payment of 200,000 common shares of Great Bear.

The project comprises two claims blocks, the easternmost (Block ‘A’) is now directly contiguous to Pure Gold Mining’s Madsen property; each block is roughly six kilometres by three kilometres in size, for a total area of 3,860 hectares.

The West Madsen project is a newly identified geological continuity of the greenstone belt within the Balmer and Confederation assemblages, which are host to the adjacent historical Madsen and Starratt Olsen mines. Results from neighboring Pure Gold’s Madsen project, reported September to November 2016, include 126.6 g/t gold over 3.7 metres; 34.0 g/t Gold over 11.0 metres; 25.4 g/t gold over 8.0 metres; and 76.0 g/t gold over 2.1 metres. Recent logging road construction has opened the area to cost-effective exploration for the first time. Great Bear’s next step on the property is an initial exploration program of mapping and sampling and geophysics towards defining priority drilling targets.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained on this website.

 

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#2   03/21/2019 Great Bear Drills Multiple High-Grade Gold Veins wshaw14 03/25/19 05:12:10 PM
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