Great Bear Resources announced that it has accelerated payments and completed its purchase agreements to earn a 100% royalty-free interest in its flagship Dixie project, located in the Red Lake district of Ontario.
Image: Great Bear completes purchase of 100% stake in Dixie gold project in Ontario. Photo: courtesy of yodiyim/FreeDigitalPhotos.net.
Great Bear now has 100% ownership of the 9,140-hectare project. Over 25,000 metres of drilling in 160 drill holes were completed at the project between the late 1980’s and 2012 by past explorers. Great Bear followed with an additional 11,000 metres of drilling in approximately 50 drill holes in 2017 and 2018. The Company has now commenced a new approximately 150-hole, 30,000 metre drill program that will continue through 2019, testing known high-grade gold zones and newly identified targets.
Highlights of Great Bear’s drill intercepts to-date include 10.40 metres of 16.84 g/t gold in the Dixie Limb Zone, 7.00 metres of 68.76 g/t gold in the Hinge Zone, and 1.75 metres of 101.05 g/t gold in the South Limb Zone. The Company is exploring a multi-zone, from-surface gold system with several kilometres of potential strike length, as defined by drilling, prospecting and geophysics.
Source: Company Press Release