Last weak, Great Bear Resources (GBR.V) released what will probably be the final batch of drill results from the Dixie gold project in Ontario’s Red Lake District for this year. The batched results include updated assay results from the Gap zone, Auro and Bear-Rimini.
At Gap, Great Bear has once again discovered high-grade gold mineralization along the LP fault in between the Yuma and Bear-Rimini zones. The discovery hole was drilled within a one kilometer long gap in between those zones (hence the referral to the Gap zone for the new discovery) which encountered a lower grade interval of just over 45 meters containing 1.25 g/t starting at 125 meters down hole but more importantly, there was a shallow and much higher-grade interval of 16.8 g/t over 4.15 meters starting at a depth of just 55 meters down hole. Considering this hole was drilled 200 meters away from the closest hole on the Yuma Zone (and 750 meters away from the closest hole in the Bear-Rimini zone, it now looks like the final one kilometer of this 4 kilometer zone of the 18 kilometer LP fault that hadn’t been drill-tested yet is also mineralized and Great Bear now seems to be looking at a 4 kilometer trend that appears to be continuously mineralized. More drilling at the Gap zone will be needed as the northern boundary of the LP Fault Zone hasn’t been encountered yet, and more work needs to be done to determine the true thickness of the mineralization, so we expect the Gap zone to be subject to more drilling in 2020 as part of the ongoing 200,000 meter drill program.
Elsewhere along the LP fault, the Auro zone drilling revealed one of the best holes of the Dixie gold project with almost 9 meters containing 48.67 g/t gold (that’s in excess of 1.5 ounces of gold) including one ultra-high grade zone of 1.2 meters containing 241.88 g/t gold. This means the remaining 7.5 meters of that interval contain a residual gold value of approximately 17.75 g/t gold which is still spectacular (so no smearing!). Additionally, the field team has found old core from a 2006 drill program that contained visible gold but for some reason hasn’t been assayed back in the day. The drill core will now be assayed and given the visible gold we can reasonably expect to see some high-grade results.
And finally, Great Bear also reported the assay results of three holes drilled at the Bear-Rimini zone and while hole 41 and 42 contained interesting intervals (with the 74 meters of 0.67 g/t gold in BR-041 as an intriguing lower-grade intercept and hole 42 containing more typical higher grade gold with 3.5 meters containing 6.69 g/t gold), hole 47 also contained gold but with 31.5 meters containing 0.54 g/t gold at a depth of almost 200 meters down-hole it’s difficult to get excited about that hole. But if anything, it confirms Great Bear’s excellent hit ratio as GBR (surprisingly) hasn’t hit any total duds yet.
This bodes well for the further exploration programs on the 18 kilometer long LP Fault and drill-testing the remaining 12 kilometers through significant step-out drill holes will be one of Great Bear’s main plans for 2020. Great Bear’s share price has quadrupled this year on the back of continuously excellent drill results, so we are looking forward to see what Great Bear will be able to do with the almost C$30M in its treasury after the most recent financing.
Disclosure: The author has a long position in Great Bear Resources. Great Bear is a sponsor of the website.