Source: Streetwise Reports 12/01/2018
Significant exploration potential of one zone at this company’s Red Lake, Ontario, asset remains wholly untapped.
Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) reported in a news release that all nine holes drilled in the Dixie Limb Zone (DLZ) at its Dixie project in Ontario to test the vertical continuity of gold mineralization to depth there intersected gold mineralization.
The company noted that these successful holes, drilled down to 365 meters (365m) from 26m, were in previously evaluated areas that were deemed to lack mineralization and geological continuity. In these areas, highlight intercepts from recent results included 6.71 grams per ton (6.71 g/t) gold over 3.1m and 6.16 g/t gold over 2.3m. Higher gold grades, above 6 g/t, were encountered in five of the nine holes.
One of the two deepest holes, DL-031 at 307m, intersected a parallel mineralized zone not previously identified. The drill results also revealed that as the mineralization in the DLZ gets deeper, the thicker it gets and the higher the gold grade it has, the release noted.
“Using oriented drill core and gyroscopic surveys, we have cut through the effects of the magnetic background rocks which skewed past drilling, and observe a consistent mineralized zone at the DLZ structure, including several steeply plunging high-grade zones,” said President and CEO Chris Taylor in the release. “This mineralization is open along strike and at depth.
He added that Great Bear, having identified 360m of continuous mineralization, is off to a good start, but Red Lake gold deposits often extend kilometers down. Therefore, “we are only just scratching the surface of this zone’s potential.”
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Great Bear Resources Ltd.
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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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Source:: The Gold Report