Vancouver, British Columbia - August 9, 2017 (Newsfile Corp.) (Investorideas.com Newswire) Great Bear Resources Ltd. (TSXV: GBR) (the "Company" or "Great Bear"), today announced it has completed Phase 1 drilling at the Dixie Lake gold project in the Red Lake district of Ontario.
Drill holes were planned to answer the following questions:
1) Is the mineralized zone controlled by particular geological units or rather by deep-seated structure that cuts all units, and
2) Does mineralization appear to be continuous between historic and current drilling?
Great Bear's geologists noted that mineralization appears to be predominantly structurally controlled, and is hosted by a variety of lithologies, including volcanic and sedimentary units. All drill holes encountered mineralization in the form of silicification and local brecciation plus various sulphide minerals.
Results to date support a steeply-dipping, structurally controlled gold mineralized system similar to most deposits in the Red Lake district. Mineralization appears continuous between historic and current drill intercepts, and is known to extend from surface to over 500 metres vertically where it remains open to extension. The mineralized zone has been historically drilled and trenched along approximately 1.5 kilometres of strike.
The Company will provide guidance on Phase 2 drilling once assays have been received.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
Chris Taylor, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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