October 4, 2021 – Vancouver, British Columbia, Canada – Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing fully funded $45 million 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.
Chris Taylor, President and CEO of Great Bear said, “Our systematic deep drilling of the LP Fault along 1.4 kilometres of strike length has successfully intersected the target geology with gold mineralization in all
areas. These results establish significant continuity of both high-grade and bulk tonnage style gold over a broad area at depth, which remains open to extension in all directions. The LP Fault has no geological
analogs in the Red Lake district, with the closest being the Hemlo gold deposit located near Marathon, Ontario.”
Deep LP Fault Drilling
Seven new drill holes are representative of deeper LP Fault mineralization across a broad area of 1.4 kilometres of strike length between approximately 450 and 750 metres downhole depth. Deeper drilling will continue along an additional 2.6 kilometres of strike length during the ongoing Phase 2 program.
The same pattern of high-grade domains surrounded by lower grade envelopes are observed as had previously been drilled at shallower depths. Results are provided in Table 1.
• These new drill holes are not infill drilling, and significantly extend gold mineralization to depth on their respective drill sections. Figure 1, Figure 2, Figure 3 and Figure 4.
• New drill hole BR-385 intersected multiple high-grade gold domains, including 157.00 g/t gold over 1.20 metres from 696.45 to 697.65 metres downhole, within a broader interval of 41.76 g/t gold over 5.15 metres from 696.45 to 701.60 metres.
o The total mineralized interval using the same calculation criteria applied to the shallow LP Fault zone since its discovery (i.e. composite intervals cannot include more than 3 metres assaying less than 0.10 g/t gold) is 6.90 g/t gold over 36.95 metres from 673.25 to 710.20 metres downhole.
o However, given the greater depths explored by these drill holes, a more relevant interval that excludes peripheral bulk tonnage style gold mineralization and may be more representative of any future potential underground development scenarios is 11.01 g/t gold over 22.85 metres from 678.75 to 701.60 metres downhole.
• New drill hole BR-386 intersected 16.92 g/t gold over 4.90 metres from 525.00 to 529.90 metres downhole, within a broader interval of 2.21 g/t gold over 49.55 metres from 522.45 to 572.00 metres downhole.
• New drill hole BR-411 intersected 13.84 g/t gold over 3.15 metres from 459.15 to 462.30 metres downhole.
o BR-411 is significant as it intersects high-grade gold below the “Gap” area of the LP Fault, and is over 500 metres above the deepest LP Fault intercept to-date in previously reported drill hole BR-260 (March 29, 2021) which assayed 15.57 g/t gold over 3.05 metres from 942.20 to 945.25 metres downhole. More drilling is required to determine if both intercepts occur along a controlling plunge within the same high-grade gold domain.
• New drill hole BR-384 intersected multiple mineralized intervals including 50.50 g/t gold over 1.00 metre from 587.50 to 588.50 metres downhole, and 6.71 g/t gold over 6.30 metres from 687.50 to 693.80 metres downhole. The total mineralized interval was 3.97 g/t gold over 17.50 metres from 687.50 to 705.00 metres downhole.
Shallow Drill Results
Seventeen additional drill holes intersected the shallow LP Fault along 3.6 kilometres of strike length.
Most of these targeted the bulk tonnage style envelope adjacent to higher-grade domains for resource delineation purposes. Maiden mineral resource estimate disclosure is planned for Q1 of 2022.
• Eastern LP Fault (Viggo area) drill hole BR-379 intersected 1.84 g/t gold over 28.05 metres from 101.35 to 129.40 metres downhole. This included high-grade intervals of 15.90 g/t gold over 1.00 metre from 101.35 to 102.35 metres downhole and 28.70 g/t gold over 0.50 metres from 123.50 to 124.00 metres downhole.
o This drill hole is significant as it adds bulk tonnage style gold mineralization at shallow depths to this area. A steeply plunging area of stronger gold mineralization is currently being defined here (see news release of August 25, 2021).
• Drill holes characterizing additional shallow bulk tonnage style mineralization are summarized in Table 2 and include:
o BR-425 which intersected 1.09 g/t gold over 80.55 metres from 62.50 to 142.75 metres downhole,
o BR-441 which intersected 1.08 g/t gold over 30.25 metres from 13.00 to 43.25 metres downhole, and o BR-443 which intersected 0.55 g/t gold over 66.20 metres from 38.50 to 104.70 metres downhole.
An additional 16 shallow drill holes were collared outside the LP Fault zone and targeted areas up to 200 metres away from the zone which may be incorporated into any future mineral resource estimation or
infrastructure development planning. All holes intersected anomalous to low-grade gold mineralization.
The most significant intercepts were 0.52 g/t gold over 20.00 metres from 56.50 to 76.50 metres downhole in drill hole BR-435, and 0.55 g/t gold over 26.25 metres from 10.85 to 37.10 metres downhole
in drill hole BR-444. Results from this drilling are included in a separate table on the Company’s web site at www.greatbearresources.ca.
Ongoing Phase 2 LP Fault Expansion Drilling and Upcoming Reports
• With the 42 new drill holes contained in this release, Great Bear has reported 446 LP Fault drill holes. Including in-progress drill holes, Great Bear has completed 300,000 metres of drilling at
the Dixie property to-date.
• Phase 1 drilling consisted of 440 LP Fault drill holes and was completed in July 2021. The program was designed to support mineral resource estimation along approximately 4 kilometres of strike
length to a depth of approximately 450 metres.
• Phase 2 drilling is designed to expand LP Fault gold mineralization between approximately 450 and 900 metres depth over approximately 4 kilometres of strike length.
• Great Bear will continue Phase 2 expansion drilling with the goal of significantly expanding the drill confirmed extent of gold mineralization at the LP Fault by late 2022.
• Other Phase 2 drilling will include regional drilling of new targets, and mineral resource definition and expansion drilling of the Dixie Limb and Hinge zones. The Company is fully funded for this work.
In addition to regular releases detailing Phase 2 drill results, deliverables for 2022 are expected to include:
1) a maiden mineral resource estimate in accordance with NI 43-101 of the LP Fault zone Phase 1 drilling, 2) a Preliminary Economic Assessment (“PEA”) of the LP Fault zone, and 3) a mineral resource update which will include deeper drill results from the LP Fault, plus maiden mineral resource estimates for the Dixie Limb and Hinge zones. Further details will be provided as results continue to be received and processed. dee & read kore on