PRECIOUS METALS

Great Bear points to 'exceptional' grade potential

Drill hole produces combined average 103.4m at 3.76g/t gold

Staff reporter

This article is 4 years old. Images might not display.

"Notably, drill hole BR-166 intersected two wide zones of higher-grade gold mineralisation, which combined averaged 3.76g/t over a total of 103.4m at a vertical depth of 95-210m," he said.

"Additionally, the best interval drilled along the eastern portion of the LP Fault grid to date was intersected in drill hole BR-180, which assayed 88.70g/t gold over 1.35m."

The results are from the ongoing, fully-funded C$21 million exploration programme at the project in Ontario's Red Lake district.

The LP Fault has up to 18km of strike length on the Dixie property, according to the company's interpretation.

Successful definition of a high-grade core at Dixie was likely to see Great Bear undertake an initial economic study in 2021, years earlier than previously thought, Taylor told Mining Journal earlier this month. 

The project hosts two main styles of gold mineralisation and the company has metallurgical testing underway.

It said the Dixie Limb, Hinge and Arrow zones had high-grade gold in quartz veins and silica-sulphide replacement zones, while the LP Fault hosted high-grade disseminated gold with broad moderate to lower grade envelopes.

Great Bear raised $33 million in an upsized placement in June priced at $11.04 per share and $17 per flow-through share.

Its shares (TSXV: GBR), which have soared from circa C50c in mid-2018 prior to its Hinge zone discovery at Dixie, closed up 4.4% to $15.87 yesterday.

At that price it's capitalised about $803 million (US$600 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.