GTBAF - Great Bear Resources Ltd. (GTBAF)(GBR:CA) - Virtual Road Show Highlights
Virtual road show. Noble and Channelchek recently hosted a fascinating virtual roadshow featuring Mr. Chris Taylor, President and CEO of Great Bear Resources, which is in the final months of shallow resource drilling. Great Bear has released results for 318 LP Fault drill holes to date and expects to complete 400 by year-end. Approximately 50 holes will be drilled and results published from the Dixie Limb and Hinge Zones in 2021. Drilling has intersected gold mineralization down to 800 meters depth in all zones.Goals for 2022. A maiden resource estimate is expected in early 2022 with a preliminary economic assessment (PEA) to follow. The goal is to deliver an optimal near-surface resource with strong economics based on a combination of high-grade domains within a lower-grade, bulk-tonnage envelope at the LP Fault. The initial resource estimate will be based on drilling to a depth of 400 meters from surface which should provide a meaningful indicator of the project's value while capturing only a fraction of its potential. Management has indicated that they would like to see the maiden resource estimate and preliminary economic assessments released with drilling to continue along with regular resource updates as more ounces are defined.Initial resource estimate. For the maiden resource estimate and PEA, management indicated that north of 5 million gold ounces is what they would be hoping for although it is less about total ounces and more about what will fit into what is likely to be an open pit component of the project. It appears a minimum pit-constrained resource of 4 or 5 million ounces sitting atop the several million ounces at depth would be considered a favorable outcome.Rating is Outperform. We believe the current share price offers an attractive entry point. We think the shares have an upward bias driven by the release of additional drill results and more high-grade domain updates throughout 2021, along with progress associated with the maiden resource estimate and environmental and permitting work required for development. Read More >>