RESOURCES
Dixie Lake Project sees 67% increase in drill activity By Kevin Vincent
The meteoric rise of Great Bear Resources over the past few years shows no sign of slowing down. The previously unknown junior acquired the rights to the Dixie Lake Project in mid-2017, followed by a provincial government supported drill program, and the rest, they say, is history. In September of 2017, the Great Bear drilled 16.84 g/t of gold over 10.40m at Dixie. That got everyone’s attention. Two months later, they confirmed a major gold structure and investors started flocking to the company. “Mineralization in the main zone is remarkably continuous over more than 500m of strike length and 60 drill holes drilled to-date, and remains open along strike and at depth,” said President and CEO Chris Taylor at the time. The company’s shares have spiked dramatically since the 2017 discovery. The company has issued a steady stream of monthly news releases that seemingly and remarkably outshine each other. “The most recent drilling along 650 metres of strike length of the multikilometre LP Fault gold system has
shown mineralization typically expands at depth,” said Taylor this July (2020). “As the system broadens, we generally observe an increasing number of high-grade gold intervals within broader halos of moderate gold grades. Gold mineralization continues to show excellent continuity within and between drill sections in all locations tested to date. A new gold zone adjacent to the LP Fault zone was also discovered at approximately 750 metres vertical depth, consistent with our model of a greater than one-kilometre wide structural zone at Dixie that has the potential to host additional new gold discoveries.” “At the outset of the COVID-19 pandemic, we reduced our drill count from five to three rigs, and implemented a series of risk mitigation protocols which will remain in place, designed to protect our staff and local communities. Great Bear has grown significantly since March, driven by our success with those three rigs. I’m now very pleased to announce that we will return to five active drill rigs this month, which amounts to a significant 67 percent increase in drill activity over recent levels.
Page50 50 ML&EN NW Ontario Report 2020 Page
This will accelerate our grid drill program at the LP Fault and allow ongoing simultaneous exploration of additional targets across the property.” Approximately 180 of 300 planned drill holes remain to be completed in 2020 as part of the company’s fully-funded $21 million drill program. With approximately $48 million in cash, the company is well positioned to significantly expand its exploration activities through 2022 and the company says it will provide updates on future drill plans as details become available. Great Bear’s success seems to be endless. Exploration is almost always successful and new mineable high-grade zones are being added on a regular basis. In early August, Great Bear released drill sections that contained “significant thicknesses” of very shallow high-grade gold mineralization starting at the bedrock surface including 81.22 g/t gold over 10.50 metres. “Over the past months we have regularly intersected predictable high-grade gold intervals at the LP Fault within the broad bulk-tonnage style gold system. This positive development is underscored by both styles of mineralization extending from bedrock surface to the limits of current drilling at depth. We are currently building an updated geological model to account for the majority of this high-grade mineralization and provide early descriptions of this work in this release,” said Taylor. A month later, in early September, the company issued results from the LP Fault exploration program that were just as exciting as ever. “With increasing drill density on 50 metre centres, continuity of gold mineralization at the LP Fault is readily apparent in plan and section view. We’ve provided an up-
