This is turning into one of those stories that just keeps getting better with every press release. One of the reasons I added this story to this letter was that the company was consistently and predictably hitting gold mineralization with virtually every drill hole. The values were generally very good but nothing like the kind of numbers recently picked up in the Hinge Zone.
The headline’s number set out above was published along with a series of drill results on September 27. Following are the highlights from the latest drill results. Not only are these the highest values to date but they also came from a new near-surface intercept named the South Limb Zone (SLZ) on the Dixie Project in the Red Lake Gold District of Ontario.
Highlights are reported by Chris Taylor, Great Bear’s president, CEO and structural geologist, as follows:
- The SLZ discovery includes the highest-grade results drilled to date at the Dixie project, at only 75 metres of vertical depth.
- The best intercept returned 1.75 m of 101.05 grams per tonne gold including 346.79 g/t gold over 0.5 metre within a vein zone of 10.35 metres of 18.23 g/t gold in drill hole DSL- 004. Gold is hosted by crack-seal-style veining typical of the Red Lake district that has placed higher-grade gold on both margins of the vein.
- The SLZ is a large target with potential for several kilometres of strike length, as shown in an image on the company’s website. Recent discoveries in the SLZ and Hinge zone occur along the axis of a multikilometre scale, largely untested regional D2 fold. D2 folding is also a key gold control at the Red Lake gold mine, operated by Goldcorp Inc.
- Three drill holes completed along 220 metres of strike length of the new SLZ target all intersected gold within a well-developed quartz vein system.
Highlights of drilling within the DLZ include:
The DLZ, extending to the north of the SLZ and Hinge zone, continues to yield gold results in all (100 per cent) of the 32 drill holes completed by Great Bear along the 2.3 kilometres of strike length that have been drilled to date. The target is geophysically defined as having over 10 kilometres of potential strike length.
New results from the DLZ include deeper tests of the zone, returning 3.80 metres of 6.27 g/t gold, including 0.60 metre of 17.29 g/t gold, within a wider interval of 19.00 metres of 3.08 g/t gold at 194.86 m vertical depth in hole DL-024.
Chris noted in the Sept. 27 press release:
“We have made another exciting near-surface high-grade gold discovery in a new area of our Dixie project. At our South Limb zone discovery, gold occurs within an up-to-40-metre-wide series of parallel quartz veins that follow a regional northwest-to-southeast-trending D2 fold axis.
The Hinge zone also occurs adjacent to this fold axis. D2 folds are also important high-grade controls at the main Red Lake mine, and at other mines in the district. This new target has potential for several kilometres of strike length, and is one of several D2 folds at the Dixie project.
We will continue with stepout and downdip drilling along this new discovery to determine its extent. The Dixie Limb zone also continues to yield exceptionally consistent gold results as we drill to define mineralization in the area.”
Chris also reported that in addition to drilling of the SLZ and DLZ, a geological drill hole, DHZ-005, was completed 100 metres to the southeast of the Hinge zone to test the orientation of the regional D2 fold axis. It remained in the footwall basalt unit over its entire core length of 252 metres and intersected a new interval of 1.40 metres of 1.17 g/t gold at 197 m depth.
Structural data from oriented drill core were collected that will be used to plan upcoming follow-up drill holes into the Hinge zone and SLZ. Management reported that Great Bear’s new 30,000-metre, 150-drill-hole drill program is now under way, and is expected to continue drilling through 2018 and 2019.
Targets to be drilled include the Hinge zone, SLZ and DLZ, as well as a number of newly defined, highly prospective geological and structural targets across the project.
Results will continue to be released in batches as received.
Jay Taylor is the editor of J Taylor’s Gold, Energy & Tech Stocks newsletter and host of the web-based radio show “Turning Hard Times into Good Times.” His interest in the role gold has played in U.S. monetary history led him to research gold and into analyzing and investing in junior gold shares.
Discaimer: MiningIR.com hosts articles from a range of sources, our content, while interesting, should not be considered as formal financial advice. While no money changed hands with MiningIR for the publication of this article, Our guest writers are all active traders and professionals in the Mining industry and may hold shares or personal interest in the companies they review. Always seek professional guidance and consult a range of sources before investing.