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Great Bear Resources continues to be impressed with gold system at Dixie project

Today's assays come from eight holes from the Dixie Hinge zone (DHZ) at the project

Geologist at Dixie
Geological studies at Dixie

Great Bear Resources Ltd (CVE:GBR) (OTCMKTS:GTBDF) released Thursday more highly encouraging drill results from its flagship Dixie project in Ontario, including a new 42-meter wide zone with multiple gold-bearing intercepts.

Today's assays come from eight holes from the Dixie Hinge zone (DHZ) at the project, said the Vancouver-based firm.

READ THE BIG PICTURE: Great Bear Resources has two highly prospective gold targets in the Red Lake mining district of Ontario

One hole hit a 42-metre-wide zone of increased hydrothermal alteration, hosting significant gold mineralization from 121 to 158 metres vertical depth, around 50 metres to the west of previously reported Hinge Zone drill holes.

Assays from the hole include 3.4 metres of 31.60 g/t (grams per ton) gold, which includes 1.75 metres of 61.05 g/t gold, and 2.80 metres of 9.91 g/t gold, including 1.50 metres of 17.88 g/t gold.

"We continue to be surprised by the strength and scale of the gold system at Dixie," noted president and CEO Chris Taylor in a statement.

He said the latest drilling showed the Hinge Zone vein included individual veins over 45 feet (14 metres) in width, and contains multiple gold-bearing veins in four of the latest eight drill holes.

"We will continue to drill to extend the strike length, depth, and number of gold zones at the Dixie Hinge through 2019 and 2020," he added.

"In addition, a second drill rig is now operational and will test a number of new targets across the property that the company feels have strong potential to host new gold discoveries."

A 30,000m drill program

Great Bear is currently undertaking a fully-funded 30,000 metre, 150 drill hole program expected to continue through 2019 and 2020.

A second drill rig was added early this month (February)to accelerate this work and is now drilling additional gold targets.

The Dixie property lies around 15 minutes' drive along Highway 105 from downtown Red Lake, Ontario.

The famous and prolific Red Lake mining district in Canada has produced over 30 million ounces of gold.

It benefits from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc, plus modern infrastructure and a skilled workforce.

Shares in Toronto eased 1.34% to $3.67.

Contact Giles at [email protected]

Follow him on Twitter @Gile74

Quick facts: Great Bear Resources

Price: 16.1 CAD

Market: TSX-V
Market Cap: $805.67 m

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Great Bear Resources find more high-grade gold in previously undrilled area...

Great Bear Resources (CVE: GBR- OTCQX: GTBAF) President and CEO Chris Taylor joined Steve Darling from Proactive Vancouver with news the company has again released impressive drill results from their Dixie Project in Red Lake Ontario. Taylor telling Proactive these results were from a...

1 week, 3 days ago

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