GTBAF - Great Bear Resources Ltd. (GTBAF)(GBR:CA) - High-Grade Zones Coming Into Clearer View
Getting more granular. Great Bear released additional drill results which featured high-grade gold intercepts with significant drill indicated core lengths, and reinforced the continuity of high-grade and bulk-tonnage gold mineralization within the LP Fault. Including results for the most recent 17 drill holes, Great Bear has released 300 LP Fault drill holes to date and expects to complete 400 by year-end. The company is modeling 17 distinct high-grade gold domains within the broader LP Fault gold mineralized system. Together, they encompass a strike length of 4.2 kilometers and occur within eight larger lower grade domains. Importantly, Great Bear provided a detailed long section of the upper portion of one of the high-grade domains, a summary of all drill results within the long section, and detailed maps of the high-grade domains within the broader LP Fault gold system.Positive implications. The release of more detailed information about the distinct high-grade gold domains should make it easier for investors to gauge the project’s mineral resource potential. Additionally, it has implications for mine planning as we think the company may have the ability to size a smaller mill and focus on higher grade material initially which could result in robust project economics. Great Bear plans to release detailed high-grade and bulk tonnage domain information during the coming months.Fully funded into 2022. Great Bear expects to spend C$45 million on exploration and drilling in 2021. Following a private placement of shares in February 2021, the company’s activities are fully funded into 2022. Catalysts for the stock include continued positive drill results that better define existing zones and step-out drilling to expand the existing zones and to discover new ones. We anticipate the company will publish a maiden resource estimate in early 2022.Rating is Outperform. The Dixie project includes several gold-bearing zones, including the LP Fault, Hinge, and Dixie Limb zones. Currently, most of the company’s drilling activities have focused on the LP Fault. While we have made no changes to our estimates, the release of additional information associated with high-grade domains may have favorable implications for our mineral resource estimate and valuation. The company currently has six drill rigs deployed and could add another rig during the summer months. Read More >>