Explorer Hits New Gold-Bearing Veins in Single Zone at Red Lake Project

March 13, 2019

By The Gold Report

Source: Streetwise Reports   03/11/2019

This Canadian company aims to determine whether they are zone extensions or new gold discoveries.

Great Bear Resources Ltd. (GBR:TSX.V; GTBDF:OTC) announced in a news release results from reconnaissance drilling to the west of the Dixie Hinge zone at its Dixie project in the Red Lake District of Ontario. Drilling consisted of two exploratory “fences” along the D2 fold axis, 150 meters (150m) and 400m west of the current Dixie Hinge zone drilling, the release noted.

All of the five holes drilled intersected gold mineralization. Highlight assays included 31.4 grams per ton (31.4 g/t) gold over 0.7m in a 2.7m interval of 8.7 g/t gold at a 64m vertical depth.

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Two the holes hit multiple gold-bearing veins. These are either additional gold zones or strike extensions to the already identified vein system in the Hinge zone.

Cumulatively, these results show “the extensive footprint of gold mineralization at Dixie and the apparent importance of major D2 fold axes as regional gold controls,” President and CEO Chris Taylor said in the release.

Further drill results from the Dixie Hinge zone are pending and will be released when available.

In other news, Great Bear recently acquired “low-cost, royalty-free property” that complements its existing acreage in Ontario’s Red Lake District. The company plans to map and explore this land this summer.

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( Companies Mentioned: GBR:TSX.V; GTBDF:OTC,