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Great Bear Resources doubles vertical extent of LP Fault target at Dixie with latest holes

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Great Bear Resources Ltd (CVE:GBR) (OTCMKTS:GTBAF) (FRA:0G6A) reported more drill success from its flagship Dixie gold project in Red Lake, revealing that deep holes had doubled the drill-confirmed vertical extent of the significant LP Fault target. 

Three new step-down holes were sunk along 500 metres (m) of strike length and all hit the continuation of the LP Fault host rocks and gold mineralization at depths of between 700 and 820 vertical metres, the explorer said. 

READ: Great Bear Resources adds another batch of high-grade gold results from LP Fault zone on Dixie project

In simple terms, the LP Fault is a target with an 18 kilometres (km) strike length, which has been seismically imaged to extend to 14km depth.

The deepest LP Fault drill hole sunk to date assayed 15.57 grams per ton (g/t) gold over 3.05m from a depth of 942.20 to 945.25m, said Great Bear.

That was within a broader interval of 1.08 g/t of the yellow metal over an intercept of 70.25m from a depth of 906.15m to 976.40m.

So far, assays from 270 LP Fault drill holes have been published and the company expects at least 130 further LP Fault drill holes will be completed by the end of 2021, for at least 400 drill holes.

“We drilled below the most weakly mineralized segment of the LP Fault with our first deep holes, and discovered better gold mineralization at depth,” noted Chris Taylor, the CEO of Great Bear.

“After 270 drill holes, we have yet to find the limits of the LP Fault’s gold mineralization. Mesothermal gold systems of this type, particularly in the Red Lake area, can extend vertically over kilometres. 

“We are currently working with in-house and external modelers to finalize 2021 drill plans, and will provide guidance over the coming weeks on expected timing of delivery of initial estimates of mineral resources.”

Notably, Great Bear highlighted that while high-grades were the main target at these depths, the dual high-grade and bulk-tonnage character of the LP Fault gold zone remains “strongly developed at depth”.

Core data collected from these initial deep holes will assist with determining controls to higher grade panels within the broad envelope of gold mineralization, it added.

Great Bear’s flagship Dixie project comprises 9,140 hectares of contiguous claims that extend more than 22km. It sits about 25km southeast of the town of Red Lake, Ontario.

These latest drill results come from its ongoing fully funded C$45 million 2021 exploration program.

Contact the author at [email protected]

Story by ProactiveInvestors


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