Great Bear Drills Multiple Gold Discoveries Along 3.2 km of the LP Fault at Dixie: Drilling at New "Auro" Zone, a 2.6 km Step-Out from Bear-Rimini, Intersects 101.71 g/t Gold Over 1.50 m Within 42.00 m of 5.28 g/t Gold at 80 m Depth; Yuma Zone Intercepts Include 27.77 g/t Gold Over 2.00 m Within 11.08 g/t Gold Over 7.00 m

News provided by

Great Bear Resources Ltd.

Sep 03, 2019, 12:09 ET

TSX-V:  GBR

VANCOUVER, Sept. 3, 2019 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported multiple gold discoveries along 3.2 kilometres strike length of the approximately 18 kilometre long LP Fault target at its 100% owned Dixie project in the Red Lake district of Ontario.  Highlights of the new drill results include:

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  • All drill holes that have intersected the LP Fault to-date have successfully intersected gold mineralization along 3.2 kilometres of strike length. The new high-grade "Auro" Zone was drilled at a 2.6 kilometre step-out to the southeast of the Bear-Rimini Discovery area.

  • New high-grade gold intercepts include: 101.70 g/t gold over 1.50 metres, within 10.65 g/t gold over 17.25 metres at the Auro Zone, and 27.77 g/t gold over 2.00 metres within 11.08 g/t gold over 7.00 metres in the Yuma Zone.

  • Wide intervals of disseminated gold mineralization have been drilled surrounding, and adjacent to the high-grade intercepts, including: 42.00 metres of 5.28 g/t gold in the Auro Zone; 22.00 metres of 1.14 g/t gold in the Yuma Zone; and 40.80 metres of 1.00 g/t gold in the Bear-Rimini Discovery Zone. These wide gold zones project to the near-surface in all locations.

  • Gold mineralization at the Yuma Zone has been extended from the near-surface to 480 metres vertical depth, and remains open to extension.

  • Fully funded with more than $18m in cash, Great Bear plans to drill along approximately 18 kilometres of the strike length of the LP Fault target between now and summer 2020. A labeled section grid is provided in Figure 1.

  • Reconnaissance drilling will include up to one kilometre step-outs between drill sections, with more closely-spaced follow-up drilling around any new gold discoveries that may be made. Current drill spacing is shown three dimensionally in Figure 2.

  • Gold mineralization associated with the LP Fault is not typical of the Red Lake district. Early observations suggest that gold is associated with a large-scale deformation zone near the contact between sediments and felsic volcanics. Accessory minerals include pyrite, sphalerite, and galena with minor chalcopyrite and arsenopyrite. Elevated lead, silver and zinc values are observed within higher grade gold intercepts.

  • The LP Fault deformation zone is similar in character to other large gold-hosting deformation zones in Archean greenstone belts. Well-known Canadian examples include the Larder Lake Cadillac Break that extends through Kirkland Lake and Val D'Or, the Porcupine Destor Fault Zone of the Timmins Camp, the Detour Lake Fault Zone, the Pike Fault in the Meliadine camp of Nunavut, and the Cochenour-Gullrock deformation zone of the Red Lake Mine complex.

Chris Taylor, President and CEO of Great Bear said, "Our first month of reconnaissance drilling along the LP Fault has been highly successful.  To place the scope of our program in context, the combined strike length of significant mine properties in the Red Lake district from the Starratt-Olsen deposit in the southwest, through the central Red Lake Mine Complex, to the Phoenix deposit in the North, is approximately 23 kilometres.  This is roughly the same as the strike length as the LP Fault target at Dixie.  While the total extent of gold mineralization along the LP Fault is unknown, we have now confirmed gold in all drill holes that intersected the fault along 3.2 kilometres, and will continue aggressive step-out and step-down drilling until we find the system's limits.  We plan to have drilled along most of the LP structure by this time next year, and, are already fully funded for this work."

John Robins, Advisor to Great Bear said, "Great Bear's recent discoveries south of Red Lake appear to have the hallmarks of an emerging district-scale gold camp."

A key observation from recent drilling along the LP Fault is that the alteration zone within sedimentary and felsic volcanic rocks which hosts disseminated gold mineralization attains significant widths of up to up to 300 metres of core length where drilled to-date.  The mineralized system continues from the near-surface to over 500 metres depth (the extent of current drilling), and is open to extension.  This is shown on the drill sections in this news release.

Gold-bearing zones are in turn surrounded by broad halos of typically barren sericite alteration.  This is also observed at other major Archean greenstone mesothermal/structural gold camps across Canada.

The LP Fault gold mineralization system is clearly not typical of the Red Lake district.  High-grade gold in quartz veins, hosted by mafic volcanic units characterizes most of the major gold deposits in Red Lake, and is also observed at Great Bear's Hinge and Dixie Limb gold discoveries, located less than one kilometre from the LP Fault.

New Auro Zone Discovery: Section 20075

  • Located at a 2.6 kilometre step-out southeast of the Bear-Rimini discovery, and 1.2 kilometres southeast of the Yuma Zone along the LP Fault. A cross section of the Auro Zone is shown on Figure 3. Highlights include 10.65 g/t gold over 17.25 metres.

  • The Auro Zone is located less than one kilometre to the northeast of the Dixie Limb and Hinge Zones.

  • Previously, Great Bear described the Auro Zone as the "DNE" target area, and historical drill intercepts within the LP Fault at this location include 24.6 metres of 0.86 g/t gold. Historical drill holes were located less than 100 metres from Great Bear's new high-grade discovery.

  • Various gold intervals were intersected along 307 metres of core length in discovery drill hole BR-020, as shown in Table 1. Gold mineralization projects to within metres of surface, below shallow gravel cover.

  • The same geological units were intersected at the Auro Zone as at the Yuma and Bear-Rimini Discovery Zones, showing apparent continuity of the host stratigraphy and structures along the 3.2 kilometres of strike extent of the LP Fault tested to date. Gold was intersected at the predicted geological contact, as had occurred at the Bear-Rimini and Yuma Zones.

Table 1: Assay intervals from Auro Zone discovery hole BR-020.

Drill
Hole

From
(m)

To (m)

Width*

(m)

Gold

(g/t)

Section


38.00

77.55

39.55

0.26

20075

BR-020

81.00

134.70

53.70

4.20

including

90.00

132.00

42.00

5.28

and including

90.75

108.00

17.25

10.65

and including

90.75

94.00

3.25

48.08

and including

90.75

92.25

1.50

101.71

and including

125.20

128.70

3.50

9.08

and

344.20

346.00

1.80

2.37

including

344.20

345.00

0.80

5.13

*Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed in the Auro Zone to determine capping levels for higher grade gold intercepts.  Average widths are calculated using a 0.10 g/t gold cut-off grade with < 3 m of internal dilution of zero grade.

New Yuma Zone Discoveries: Section 20950

  • The Yuma Zone is located at a 1.4 kilometre step-out southeast of the Bear-Rimini discovery along the LP Fault. A cross section of the Yuma Zone is shown on Figure 5.

  • The Yuma Zone is located less than one kilometre to the northeast of the Dixie Limb and Hinge Zones.

  • Results from discovery hole DC-12-07 were previously disclosed on July 16, 2019 and included 2.0 metres of 10.57 g/t gold in previously unsampled drill core. Great Bear extended historical drill hole DL-03-10 and encountered a wide zone of high-grade gold at the predicted location in the footwall of the LP Fault, less than 100 metres from the historical end of the drill hole.

  • Four drill holes were completed on two sections spaced 50 metres apart at Yuma, all of which intersected the predicted geological contacts and associated gold mineralization.

  • Results are shown in Table 2, and include 12.50 metres of 6.26 g/t gold, which includes 2.00 metres of 27.77 g/t gold.

  • Follow-up drilling shows apparent continuity of mineralization from the near-surface to depths of 480 vertical metres, which remains open to extension.

  • An image of high-grade visible gold mineralization intersected at 480 vertical metres depth is shown on Figure 4. Multiple gold zones were intersected in most drill holes.

  • The same geological units were intersected at the Bear-Rimini, Yuma and the new Auro Discovery Zones.

Table 2: Newly disclosed assay intervals from the Yuma Zone.

Drill Hole

From

(m)

To

(m)

Width*

(m)

Gold

(g/t)

Section

BR-005

66.00

88.00

22.00

1.14

21000

including

82.00

88.00

6.00

3.85

and including

82.00

85.90

3.90

5.74

and including

84.00

85.90

1.90

10.48

and including

85.00

85.90

0.90

17.28

179.30

184.80

5.50

3.95

179.30

183.30

4.00

5.39

including

180.30

183.30

3.00

7.10

and including

182.30

183.30

1.00

14.81

and including

182.30

182.80

0.50

23.15

BR-006

57.20

62.00

4.80

1.16

20950

including

58.20

60.70

2.50

2.05

and

87.00

92.00

5.00

0.53

and

179.00

204.50

25.50

0.30

including

196.00

197.00

1.00

3.83

BR-007

454.30

461.25

6.95

1.49

20950

including

458.75

460.75

2.00

3.60

and including

458.75

459.25

0.50

8.18

500.80

530.65

29.85

0.35

and

554.50

568.40

13.90

1.12

including

554.50

556.85

2.35

2.75

and including

555.20

556.20

1.00

6.19

and including

555.20

555.70

0.50

9.88

and including

566.05

567

0.95

5.76

and

624.10

625.75

1.65

14.13

including

624.10

625.10

1.00

22.76

and including

624.10

624.60

0.50

35.65

DL-03-10

283.00

295.50

12.50

6.26

20950

including

288.50

295.50

7.00

11.08

and including

289.50

291.00

1.50

13.80

and including

293.00

295.00

2.00

27.77

and including

294.00

295.00

1.00

47.39

and including

294.00

294.50

0.50

82.30

*Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time. Average grades are calculated with un-capped gold assays, insufficient drilling has been completed in the Yuma Zone to determine capping levels for higher grade gold intercepts.  Average widths are calculated using a 0.10 g/t gold cut-off grade with < 3m of internal dilution of zero grade.

New Bear-Rimini Discoveries: Sections 22375 and 22325

  • Two shallow drill sections were completed in the area of Bear-Rimini Discovery hole DNW-011, which was previously disclosed on May 28, 2019. DNW-011 intersected 2.00 metres of 194.21 g/t gold, 14.30 metres of 12.33 g/t gold, and 50.60 metres of 0.74 g/t gold.

  • New drilling discovered wide zones of disseminated gold, projecting to the near-surface, surrounding the high-grade gold zones of DNW-011, as shown in Table 3, and Figures 6 and 7.

  • The mineralized system generally appears to project to the southeast, towards the Yuma Zone, 1.4 kilometres to the southeast. Continuity between the two zones will be tested during upcoming drilling. Follow-up drilling is required to further delineate the high-grade zones.

  • The Company sent core samples to Panterra Geoservices Inc. of Surrey, British Columbia, for petrographic (thin section) analysis, in order to help characterize the gold system. The samples were also sent for additional whole-rock geochemical analysis by XRF.

  • Petrographic analysis suggests disseminated high-grade gold mineralization appears to be associated with steeply-plunging transposed quartz veins or stockworks. These have been highly affected by deformation within the LP Fault zone, including alignment of gold within and adjacent to deformation zones. This structural preparation has provided predictable zone geometries that Great Bear has successfully targeted along the LP Fault.

  • The rocks preserve the transition from upper greenschist to amphibolite grade peak metamorphism, which is consistent with brittle-ductile transitional strain conditions that facilitate structural/mesothermal gold deposition in most gold districts of this type.

  • Petrographic analysis also confirmed the presence of highly altered, albitized sediments proximal to the LP Fault. These sediments provide a marker unit which identifies the transition from mafic to felsic volcanic rocks and also defines a drill-confirmed control of gold mineralization at and near the contact between these sediments and silicified, albitized felsic volcanic rocks.

Whole rock (XRF) analysis provided a multi-element dataset that also helped identify key felsic stratigraphic sequences which are the preferred host rocks for gold mineralization along the LP Fault.  These rocks are chemically and visually distinct, and together with oriented core data and 3D magnetic susceptibility modelling, the Company is successfully targeting higher grade zones within the mineralized envelopes.

Drilling at the Bear-Rimini Discovery Zone is currently too shallow to adequately test plunge models for high grade zones, and will be extended both along strike and depth as the drill program proceeds.

Table 3: Drill interval highlights from drilling of the Bear-Rimini Discovery Zone.  Drill sections are 50 metres apart.  Intervals of broad mineralization are provided from previously reported drill hole DNW-011 using the interval calculation criteria applied to the other drill holes.

Drill Hole

From

(m)

To

(m)

Width*

(m)

Gold

(g/t)

Section

DNW-008

8.00

42.60

34.60

0.55

22375

DNW-011

72.50

93.00

20.50

8.48

and

98.00

169.6

71.60

0.60

  BR-001

81.50

94.75

13.25

0.47

and

195.00

206.35

11.35

0.71

and

213.00

223.50

10.50

0.68

and

210.15

270.55

78.55

0.45

BR-002

64.55

96.50

31.95

0.35

including

73.00

80.00

7.00

0.68

and including

73.00

73.50

0.50

3.22

and including

79.50

80.00

0.50

4.61

and

177.00

182.90

5.90

0.68

BR-003

34.00

37.50

3.50

1.21

including

37.00

37.50

0.50

5.74

119.00

212.05

93.05

0.53

including

119.00

132.50

13.50

0.75

and including

167.60

212.05

44.45

0.74

and including

170.45

187.20

16.75

1.04

BR-004

62.50

104.00

41.50

0.47

22325

82.50

93.00

10.50

1.03

including

86.10

87.00

0.90

4.13

and including

86.10

90.70

4.60

1.69

and including

90.20

90.70

0.50

7.75

And

109.00

118.5

9.50

0.76

including

114.00

118.50

4.50

1.46

and including

118.00

118.50

0.50

3.94

and including

164.70

205.50

40.80

1.00

including

188.00

189.00

1.00

8.11

and including

191.00

191.50

0.50

5.45

*Widths are drill indicated core length, as insufficient drilling has been undertaken to determine true widths at this time.  Average grades are calculated with un-capped gold assays, as insufficient drilling has been completed in the Bear-Rimini Zone to determine capping levels for higher grade gold intercepts.  Average widths are calculated using a 0.10 g/t gold cut-off grade with < 3m of internal dilution of zero grade.

Northwest Drill Test: Section 22325

  • Two drill holes were completed 575 metres to the northwest of the Bear-Rimini Discovery area. Drilling intersected four zones of low-grade and anomalous gold mineralization in drill hole BR-008.

  • While the gold mineralized system clearly continues into this area, the main target "marker unit" was not intersected. Results are provided in Table 4, and a cross section is provided in Figure 8.

  • Alternating mafic and felsic units were intersected in this area in an arrangement not seen in other locations drilled along the LP Fault. The units may be complexly infolded, or the LP Fault may contain tectonic delaminations of the surrounding units, including the hanging wall mafic lithologies.

  • More drilling is required in order to locate the key marker unit and further evaluate the gold potential of the area.

  • Follow-up drilling will be undertaken both between this section and the Bear-Rimini Discovery area, and farther to the northwest along the LP Fault as the drill program proceeds.

Table 4: Drill results from 575 metre step-out northwest of Bear-Rimini.

Drill Hole

From

(m)

To

(m)

Width*

(m)

Gold

(g/t)

BR-008

87.50

88.00

0.50

0.72

BR-008

and

115.40

116.55

1.15

1.08

BR-008

221.50

224.50

3.00

1.09

BR-008

and

265.30

289.30

24.00

0.20

BR-008

including

274.00

279.50

5.50

0.50

BR-009

No significant values

*Widths are drill indicated core length, as insufficient drilling ahs been undertaken to determine true widths at this time.

Great Bear continues to undertake a fully funded, 90,000 metre drill program that is expected to continue through 2019 and 2020.  Targets tested will include the Hinge Zone, Dixie Limb Zone, Bear-Rimini Zone, Yuma Zone, Auro Zone, LP Fault, North Fault, and other targets across the property.  In order to accelerate the program, a second drill rig was added in February, and a third drill rig arrived in June of 2019.  Approximately 40,000 metres of drilling remain in the current program.

About Great Bear

Great Bear Resources Ltd. (TSX-V: GBR) is a well-financed company based in Vancouver, Canada, managed by a team with a track record of success in the mineral exploration sector. Great Bear holds a 100% interest, royalty free, in its flagship Dixie property, which is road accessible year-round via Highway 105, a 15 minute drive from downtown Red Lake, Ontario.  The Red Lake mining district is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Newmont Goldcorp Corp., plus modern infrastructure and a skilled workforce.  Production from the Red Lake district does not necessarily reflect the mineralization that may, or may not be hosted on the Company's Dixie property.  The Dixie property covers a drill and geophysically defined multi kilometre gold mineralized structure similar to that associated with other producing gold mines in the district.  In addition, Great Bear is also earning a 100% royalty-free interest in the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology.  All of Great Bear's Red Lake projects are accessible year-round through existing roads.

Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ontario, and Activation Laboratories in Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

ON BEHALF OF THE BOARD

"Chris Taylor"

Chris Taylor, President and CEO

Inquiries: Tel: 604-646-8354
Fax: 604-646-4526
[email protected]
www.greatbearresources.ca

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.

We seek safe harbor

SOURCE Great Bear Resources Ltd.

Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360

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Great Bear Resources Ltd.