5 minute read
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.
“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.
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.
Enhanced plans to explore the Sobel Property
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- dated plan map and long section in this release, showing the same intercept grade projections in both images for the first time.
Our geological team continues to model the high strain and deformed quartz vein zones which host the majority of the high-grade gold within the LP Fault. We expect to be able to release the results of this work over the coming weeks.
This will provide our current comprehensive interpretation of gold grade distribution characteristics within the LP Fault and will be an important step towards completion of our initial maiden resource,” said Taylor.
Any day now the company will announce enhanced plans to explore their Sobel Property.
A comprehensive update on further work will be provided prior to any drilling at Sobel.
Chris Taylor continued, “We’ve repeated some of the early exploration steps taken at our flagship Dixie project and have identified two new potential gold targets at the Sobel property within the right rocks.
These are located near regional D2 fold hinges and fold axes that are expected to potentially be signifi cant gold controls.
We believe these areas are prospective for Hinge zone (Dixie)/ RLGM-style gold-bearing quartz veins within mafic host rocks. Our next steps include additional mapping, expansion of the SHG grid, rock sampling, and planning for preliminary drilling which may be undertaken as early as winter 2020 - 2021.”
With everything that has happened at Dixie, it’s easy to see why so many investors believe Great Bear Resources is one of Canada’s biggest mining success stories since the start of the 2000’s.
Great Bear Resources Ltd. continues to be a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.
The company controls over 300 km2 of highly prospective tenure across four projects: the flagship Dixie Project (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.
This article was originally published in the recent Mining Life & Exploration News. To stay current with all of the latest in mining news and in-depth articles, subscribe now for your free copy delivered right to your door. Email info@canadiantradex.com your request to be added to the distribution list today! Or call us directly at 705-264-2251. For a limited time, subscription is free. International locations will receive digital copies.
