GTBAF - Great Bear Resources Ltd. (GTBAF)(GBR:CA) - Drilling Affirms Bulk Tonnage Potential over 3 Kilometers of Strike Length
Phase 1 drill results. Great Bear Resources released additional results for drill holes associated with its Phase 1 drilling program at Dixie. Since May 2019, Great Bear has completed 440 drill holes, representing 222,500 meters of drilling, at the LP Fault, of which results for 404 drill holes have been released. The company expects to publish a maiden mineral resource estimate in early 2022. The initial resource estimate will be based on Phase 1 drilling to a depth of 450 meters from surface.Phase 2 drilling commenced in August. Great Bear commenced Phase 2 drilling in August. The program will include expansion drilling of the LP Fault below 450 meters depth and along strike, additional infill drilling of the upper 450 meters of the LP Fault, expansion and infill drilling of the Hinge, Limb, and Arrow zones, and testing of new regional targets.Continuous mineralized gold zone. The drilling associated with the released results focused on higher grade gold mineralization within the bulk tonnage style gold system within the northwestern and southeastern portions of the 4.2-kilometer Phase 1 drilling grid. High grade gold controls were identified along the LP Fault that will help target high-grade gold during Phase 2 drilling. The recent results confirmed that the Central and Discovery zones represent a continuous mineralized gold zone with bulk tonnage potential over three kilometers of strike length. Recent drilling centered on modeling higher-grade gold within areas of bulk tonnage gold mineralization.Rating is Outperform. In our view, drilling continues to reinforce Dixie's potential as a Tier 1 gold asset. Results from the drilling have positive implications for the company’s ability to target and model higher-grade mineralization, particularly at depth. The number of high-grade gold domains being modeled at the LP Fault has been expanded from 17 to 23, including 7 high-grade gold domains which are being modeled in the northwestern Discovery zone. Read More >>