Great Bear Resources (GBR.V) has started the field work on its project located in BC’s Golden Triangle district. The company will be following up on its previous exploration results as earlier this decade, the company completed a 15,000 meter drill program targeting a poly-metallic deposit at a hotspot with a surface area of 960,000 square meter (0.96 square kilometers).
That 15,000 meter drill program revealed some very exciting intervals such as in excess of 100 meters with an average grade of in excess of 2.5 ounces of silver per tonne of rock, as well as 1.37% lead, whilst another higher grade interval (which might have been drilled in a so-called feeder zone) contained 401 g/t silver as well as 0.46% copper in a 3 meter interval.
We do have the impression Great Bear could be in a position to release a NI43-compliant resource estimate after the next round of drilling, and this could be a major boost for the company’s share price, as Great Bear is currently valued at C$2.75M (based on the 12.2M shares after closing the current private placement). This seems to be way too low considering this is a relatively advanced stage project in one of the hottest districts of British Columbia right now. Any additional exploration success could easily boost the company’s market capitalization to C$10M, which would result in a share price of 85 cents.