GREAT BEAR RESOURCES

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Great Bear Resources Ltd is a precious metals exploration company. It explores for mineral properties in British Columbia and Quebec, Canada. Its property portfolio includes Great Bear's Red Lake Properties (two claim blocks) and Dixie Lake Project.

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GREAT BEAR RESOURCES

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Great Bear Resources Ltd is a precious metals exploration company. It explores for mineral properties in British Colu......

people9 Members       (0)

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8020 Admin

14 days ago

8020 Admin posted a press release Great Bear Defines High-Grade Gold Controls at LP Fault; Regional Drilling Identifies Six New Gold Targets Over 11 Kilometres; Provides LP Fault Drill Data in GREAT BEAR RESOURCES


VANCOUVER, Feb. 20, 2020 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new developments from its fully funded $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.


The Company has made significant progress in its predictive modeling of gold mineralization at the LP Fault zone, and its regional exploration program.  Highlights include:



  • Identification of key geological controls to the distribution of high-grade gold mineralization along the LP Fault. High-grade gold mineralization occurs in close proximity to a steeply-dipping felsic volcanic/metasedimentary contact. Figure 1.

  • The Company has retained Mr. James Gray, P.Geo., an independent consultant from Advantage Geoservices Ltd., to assist Great Bear's geological team with gold mineralization modeling. Mr. Gray's experience includes resource definition drilling and geological modeling at the David Bell mine at the Hemlo gold deposit, formerly operated by Teck Corporation, and currently owned by Barrick Gold Corp.

  • An airborne SkyTEM (electromagnetic) survey has been completed across the property, identifying new regional exploration drill targets. The new targets have similar geophysical characteristics to both the LP Fault zone and the Hinge and Dixie Limb zones. Follow-up drilling is required. Figure 2 and Figure 3.

  • 13 reconnaissance drill holes were completed outside of previously drilled areas across 11 kilometres of the property. The primary purpose of this drilling was to identify favorable structural and geological settings for additional follow-up drilling. Six new occurrences of highly anomalous gold mineralization have been discovered in 9 of the 13 drill holes, as shown on Figure 4. Highlighted results are included in the drill results table posted to the Company's website at www.greatbearresources.ca.

  • These new gold occurrences include: 1) highly deformed metasedimentary rocks (LP Fault style), and 2) quartz vein systems (Hinge zone style). The geological marker sequence (deformed meta-sedimentary rocks) previously identified at the LP Fault zone has now been intersected along approximately 7 kilometres. Drill density is insufficient at this time to determine what the gold distributions and geometries of these new gold occurrences may ultimately be. Follow-up drilling is required.

  • The Company has engaged consultants to assist with preliminary metallurgical testing of gold mineralized samples in advance of more advanced studies planned for 2021.

  • Ongoing environmental baseline studies continue on the property.

  • As previously announced on February 13, 2020, a table of highlighted assay results, including drill locations, azimuths and dips from the central 4.2 kilometre segment of the LP Fault have now been posted to the Company's web site. The Company has also provided three dimensional .DXF files of important geological controls on mineralization.


Chris Taylor, President and CEO of Great Bear said, "Ongoing drilling has shown us that the gold-mineralized system at Dixie is at least 11 kilometres in strike extent.  These early reconnaissance drill results are very similar to our initial footwall drilling into the LP Fault zone in 2018 and early 2019.  We now need to drill in the vicinity of these new occurrences to determine if and where high-grade gold is present, and whether these occurrences are connected.  Within the LP Fault zone itself, high-grade gold adjacent to a felsic volcanic/metasediment contact marks an additional similarity to Barrick's Hemlo deposit.  The gold deposits at Hemlo display similar geological and structural contexts, and have similar disseminated high-grade gold mineralization as observed at the LP Fault."



Figure 1: Distribution of gold intercepts and distance buffers of 50 and 100 metres from the contact between metasediments and felsic volcanic rocks along 4.2 kilometres of the LP Fault. (CNW Group/Great Bear Resources Ltd.)



 


Newly Identified Gold Controls


Ongoing LP Fault drilling has demonstrated that most of the > 5 g/t gold intercepts and nearly all of the >10 g/t gold intercepts drilled along the LP Fault to-date occur within 50 to 100 metres of the metasedimentary/felsic volcanic contact. 


This gold mineralization control provides a laterally and vertically-extensive, sheet-like contact that can be targeted with ongoing drilling, and will be important to ongoing modeling of the LP Fault zone.


Regional Geophysics and Reconnaissance Drilling


The Company completed a high-resolution electromagnetic (SkyTEM) airborne geophysical survey over the entire Dixie property in September of 2019 and recently received the survey results.  The purpose of the survey was to test if the LP Fault style of mineralization produces a resistive electromagnetic response.  The LP Fault mineralization is associated with strong silica and albite alteration of felsic volcanic and metasedimentary rocks, which was expected to be electrically resistive.  Results confirmed highly resistive responses below the known sections of the LP Fault in the modelled 3D inversion of the SkyTEM data (Figures 2 and 3), and several new multi-kilometre resistive trends with similar geophysical properties to the gold zone of the LP Fault have been identified and warrant follow-up field work and ultimately drill testing.    


The Company also repeated its exploration methods from the initial LP Fault discovery with additional regional drilling.  High-contrast magnetic breaks were drilled prior to receipt of the SKYTEM data, on one to two kilometre centres along the projected strike extent of the LP Fault, and targeting additional regional features.  The purpose of this program was to identify similar structural and geological settings to the LP Fault mineralization.  Multiple zones of anomalous gold were intersected along an interpreted strike length of 11 kilometres.  Some of these new zones display similarities to the LP Fault Zone and others are more comparable to the Hinge zone vein system.


Highlights of regional reconnaissance drill holes have been included in the LP Fault results table posted to the Company's web site.  Drill holes that successfully intercepted gold mineralization were: BR-052, 053, 054, 055, 056, 071, 072, 073, and 111. Seven of the nine drill holes which successfully intercepted gold mineralization are located along a possible on-strike projection of the LP Fault zone, while 2 of the gold-bearing drill holes occur at new regional targets (Figure 4).  Reconnaissance drill holes that did not intersect gold were BR-048, 049, 070 and 110. 


Live Webinar on Thursday February 20th


Great Bear reminds interested shareholders that they are invited to join a webinar detailing recent progress in the Company's ongoing fully-funded 200,000 metre drill program on Thursday, February 20th at 11:15am PST/2:15pm EST.  Management will be available to answer questions following the presentation.  Online registration and participation details may be found at the following link: https://bit.ly/37YvChd


For those unable to participate, a recording of the webinar will be posted to the Company's web site following the live broadcast.



Figure 2: SkyTEM results showing interpreted resistivity targets along the Dixie property, including the LP Fault.  Resistive rocks including the altered/mineralized zone of the LP Fault are shown in blue and white.  Locations of newly drilled regional gold zones are shown below in Figure 4. (CNW Group/Great Bear Resources Ltd.)




Figure 3: Resistivity/chargeability cross section of SkyTEM data showing the LP Fault zone, with adjacent high-resistivity targets also shown (blue to white targets). (CNW Group/Great Bear Resources Ltd.)



ABOUT THE DIXIE PROJECT


The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.


The Dixie Project hosts two principle styles of gold mineralization:



  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb and Hinge). Hosted by mafic volcanic rocks, and localized near regional-scale D2 fold axes. These mineralization styles are also typical of the significant mined deposits of the Red Lake district.

  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault). The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.


Figure 4: Map of recent regional reconnaissance drilling showing areas with confirmed gold-bearing drill intercepts. (CNW Group/Great Bear Resources Ltd.)


About Great Bear


Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project  (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.


QA/QC and Core Sampling Protocols


Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein.  Drill hole location information is provided below:


Qualified Person and NI 43-101 Disclosure


Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Cautionary note regarding forward-looking statements


This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.


Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.


Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.


View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-defines-high-grade-gold-controls-at-lp-fault-regional-drilling-identifies-six-new-gold-targets-over-11-kilometres-provides-lp-fault-drill-data-301008230.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2020/20/c7302.html

Investor Inquiries: Mr. Knox Henderson, Tel: 604-551-2360, Fax: 604-646-4526, info@greatbearresources.ca , www.greatbearresources.ca 

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8020 Admin

21 days ago

8020 Admin posted a press release Great Bear Drills 10.58 g/t Gold Over 21.00 m; Initiates 5 Kilometre Grid Drill Program at LP Fault; Mobilizes Fifth Drill Rig in GREAT BEAR RESOURCES

VANCOUVER, Feb. 13, 2020 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new developments from its fully funded $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.


The Company has completed a successful "first pass" 4.2 kilometre drill test of the LP Fault.  All (100%) of 59 drill holes on 50 - 250 metre spacings have successfully intersected gold mineralization.  A long section view of results is provided in Figure 1A continuously mineralized zone is now interpreted, the "LP Fault zone", which remains open both along strike and at depth.  Previously disclosed LP Fault zone names (Bear-Rimini, Gap, Yuma, Yauro, Auro and Viggo) will no longer be used in Great Bear's news releases.  Results will be provided by drill section on a go-forward basis.


Great Bear is now undertaking a systematic grid drill program testing a 2.5 square kilometre "panel" of the LP Fault (5 kilometres horizontally by 500 metres vertically from surface).  Drill spacing will initially average 100 metres along strike and 75 metres vertically.  Additional drilling below 500 metres is also being undertaken.  Up to 300 additional drill holes are required to complete this panel during 2020 and the Company is fully-funded for this work.  Four drill rigs are currently deployed along the LP Fault and a fifth drill rig will be used to continue concurrent regional exploration, including further LP Fault step-outs.


Highlights of current results include:



  • Drill hole BR-068 intersected 10.58 g/t gold over 21.00 metres, including 48.98 g/t gold over 3.25 metres on drill section 20750.  Results demonstrate apparent continuity of gold mineralization from surface to 305 metres vertical depth, and increasing gold grades and interval widths with increasing depth.  BR-068 is located 1.8 kilometres southeast of the LP Fault discovery hole DNW-011.  Table 1 and Figure 2


  • Drill hole BR-067 was completed on drill section 20600, located 150 metres to the southeast of drill section 20750, and intersected 10.95 g/t gold over 6.00 metres.  Results demonstrate apparent continuity of high-grade gold mineralization over 400 vertical metres and apparent continuity across the 150 metre distance to drill section 20750.  Gold was intersected to 550 metres vertical depth.  Figure 3.


  • Drill hole BR-057, which is the second most southeasterly hole intersecting the LP Fault to-date, returned 7.35 g/t gold over 3.50 metres, including 38.03 g/t gold over 0.50 metres on drill section 18750.  This hole is located approximately 4.2 kilometres southeast of LP Fault discovery hole DNW-011, and 1.85 kilometres southeast of drill section 20600.  Figure 4.


A cross section through the original LP Fault discovery hole is provided in Figure 5. Similar geology, structural controls and gold mineralization are present in all areas along the 4.2 kilometres of the LP drilled to-date.



Figure 1: Long section of the LP Fault gold zone as drilled to-date, highlighting various drill intercepts along 4.2 kilometres.  View towards the southwest. (CNW Group/Great Bear Resources Ltd.)



Chris Taylor, President and CEO of Great Bear said, "We now interpret a continuous gold-mineralized zone along more than four kilometres of strike length of the LP Fault, which remains open to extension.  Assay results, geology, and oriented structural data suggest the zone hosts steeply-dipping 'sheets' of disseminated high-grade gold mineralization with significant strike length and vertical extent.  More detailed drilling is required to accurately delineate the geometries of these high-grade 'sheets' and the boundaries of the surrounding mineralized envelope.  While the total LP Fault target is many times larger (Zeng and Calvert, 2006; 14 kilometres deep and 20+ kilometres in length based on seismic data), we've selected a 2.5 square kilometre section, 5 kilometres long by 500 metres deep, for grid drilling during 2020.  This will help characterize the gold mineralized system in preparation for more advanced studies in 2021 and has the potential to unlock significant potential additional value for our shareholders.  We will also continue property wide drill testing of new targets, including further step-outs on the LP Fault."


Table 1: Most recent results from drilling of the LP Fault.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=GBR%3ACA&qmodStoryID=7613749396199080 

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8020 Admin

29 days ago

8020 Admin posted a press release Great Bear to Host a Webinar on Thursday February 20th at 11:15am PDT/2:15pm EDT to Provide Update on Dixie Drill Program in GREAT BEAR RESOURCES


VANCOUVER, Feb. 5, 2020 /CNW/ - Great Bear Resources (the "Company" or "Great Bear", TSX-V: GBR) would like to invite interested shareholders to join Mr. Chris Taylor, P.Geo, President and CEO and Mr. R. Bob Singh, P.Geo, Vice President, Exploration for a webinar detailing recent progress in the Company's ongoing fully-funded 200,000 metre drill program at its 100% owned Dixie property in the Red Lake district of Ontario.


Live Webinar
The Great Bear webinar will take place on Thursday, February 20th at 11:15 am PDT/2:15 pm EDT.  Management will be available to answer questions following the presentation.  Online registration and participation details may be found at the following link:


https://bit.ly/37YvChd


For those unable to participate, a recording of the webinar will be posted to the Company's web site following the live broadcast.


BMO Global Metals and Mining Conference
The Company would also like to invite interested shareholders to listen to Mr. Taylor present at the 29th Annual BMO Global Metals and Mining Conference in Hollywood, Florida, at 10:00 am EDT on February 26th.  A link to the live broadcast, and to view presentation after the event, is provided here:


https://cc.talkpoint.com/bmoc001/022320a_js/?entity=3_BIHDW57


PDAC
Great Bear will also be participating at the annual Prospectors and Developers Association of Canada (PDAC) Convention held March 1st - 4th at the Toronto Convention Centre. Attendees are welcome to view Chris Taylor's presentation on March 2nd at 2:30 pm EDT in room 802 of the Convention Centre.  To meet management in person throughout the Convention, visit Great Bear in the Discovery Group booth in the Investors Exchange at booth #IE2813. Drill Core from the Dixie Project will be displayed with Great Bear geologists on hand in the PDAC Core Shack:


PDAC Core Shack - SESSION B
Tuesday, March 3, 10:00 am5:00 pm EDT
Wednesday, March 4, 9:00 am12:00 pm EDT


ABOUT THE DIXIE PROJECT


The Dixie Project is 100% owned, and consists of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake Ontario (a 15 minute drive). The project is accessible year-round via a paved highway which runs the length of the northern claim boundary, and through a network of well-maintained logging roads.


The Dixie property hosts two principle styles of gold mineralization:



  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb and Hinge). Hosted by mafic volcanic rocks, and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.


  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault).  Interpreted to traverse the Dixie property for approximately 18 kilometres of strike length and currently drilled along 4 kilometres of strike length.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.


 


About Great Bear


Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration. Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project  (100% owned), and the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.


Qualified Person and NI 43-101 Disclosure


Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.


We seek safe harbor View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-to-host-a-webinar-on-thursday-february-20th-at-1115am-pdt215pm-edt-to-provide-update-on-dixie-drill-program-300999158.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2020/05/c9082.html

Investor Inquiries: Mr. Knox Henderson, Tel: 604-551-2360, Fax: 604-646-4526, info@greatbearresources.ca , www.greatbearresources.ca 

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8020 Admin

1 month ago

8020 Admin posted a press release Great Bear Announces Proposed Spin-Out of 2.0% NSR on the Dixie Project to Create Great Bear Royalties Corp. in GREAT BEAR RESOURCES





TSX-V:  GBR                                                                             

VANCOUVER, Jan. 31, 2020 /CNW/ - Great Bear Resources Ltd. (TSX-V: GBR) (the "Company" or "Great Bear") today announces that is has entered into a 2.0% net smelter return royalty agreement (the "NSR Royalty") with a newly incorporated wholly-owned subsidiary named Great Bear Royalties Corp. ("Great Bear Royalties").  Great Bear plans to transfer the NSR Royalty, approximately $1 million in marketable securities currently owned by the Company, and $0.5 million in cash into Great Bear Royalties, which together will be the initial assets for a new royalty company. Great Bear will continue to focus on advancing the 100% owned Dixie Project, while Great Bear Royalties will allow shareholders to capture additional long-term value through the royalty interest.



Great Bear Resources Ltd. (CNW Group/Great Bear Resources Ltd.)



Great Bear Royalties will not initially be listed on a public stock exchange but will operate as a reporting issuer. Great Bear Royalties will evaluate all strategic opportunities available to the company to enhance value.


Terms of the Arrangement Agreement


Great Bear has executed an arrangement agreement with Great Bear Royalties, whereby the business of Great Bear will be reorganized into two companies by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). Great Bear shareholders will vote on the Arrangement at a special meeting of shareholders ("Meeting") to be held on a date to be announced. To be effective, the Arrangement must be approved by a special resolution passed by at least 66⅔% of the votes cast by Great Bear shareholders present in person or represented by proxy at the Meeting, which shareholders are entitled to one vote for each Great Bear share held.


The Arrangement involves, among other things, the distribution of 100% of the common shares of Great Bear Royalties (the "Great Bear Royalties Shares") to Great Bear shareholders such that each shareholder as of a particular date, immediately prior to closing of the transaction (the "Record Date") will receive one  share of  Great Bear Royalties for each four common shares of Great Bear held as of the Record Date. It is anticipated that the closing date will occur in April 2020. Great Bear warrants and options will also be adjusted pursuant to the Arrangement as described in more detail in the information circular ("Circular") that will be mailed to shareholders prior to the Meeting.


After careful consideration, the Board of Directors has unanimously determined that the Arrangement is fair to shareholders and is in the best interests of the Company. A description of the various factors considered by the Board of Directors in arriving at this determination will be provided in the Circular.


After closing of the Arrangement, Great Bear shares will continue trading on the TSX Venture Exchange in Canada under the symbol GBR, and on the OTCQX Market in the United States under the symbol GTBDF. Great Bear Royalties Shares will not be listed on any stock exchange after closing of the Arrangement, but the company will be a reporting issuer and will comply with its continuous disclosure obligations including press releases and financial reporting.


Grant of Stock Options


The Company also reports it has granted an aggregate of 710,000 stock options to employees, directors, consultants and advisors of the Company, exercisable at $8.67 per share for a period of five years. The options are subject to a four month hold period.


About Great Bear


Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.   Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project  (100% owned), and the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Cautionary note regarding forward-looking statements


This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.


Forward-looking statements and information include, but are not limited to, statements with respect to timing, structure and completion of the Arrangement, the transfer of assets from Great Bear to Great Bear Royalties, future growth potential for Great Bear and Great Bear Royalties, future mine development plans at the Dixie Project, anticipated benefits of the Arrangement, the timing and receipt of required shareholder, court, stock exchange and regulatory approvals for the Arrangement, the Company's financial guidance and outlook.


Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; the impact of general business and economic conditions; the absence of control over mining operations from which Great Bear will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to any international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Great Bear or Great Bear Royalties; stock market volatility; regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties.


Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.


Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.


View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-announces-proposed-spin-out-of-2-0-nsr-on-the-dixie-project-to-create-great-bear-royalties-corp-300996729.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2020/31/c8384.html



Investor Inquiries: Mr. Knox Henderson, Tel: 604-551-2360, Fax: 604-646-4526, info@greatbearresources.ca , www.greatbearresources.ca 

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8020 Admin

3 months ago

8020 Admin posted a press release Great Bear Drills New "Gap" Zone: 16.80 g/t Gold Over 4.15 m and 1.25 g/t Gold Over 45.50 m; Auro Zone Drilling Intersects 241.88 g/t Gold Over 1.20 m Within 48.67 g/t Gold Over 8.70 m in GREAT BEAR RESOURCES

VANCOUVER, Dec. 16, 2019 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new results from its fully-funded 200,000 metre drill program at its 100% owned Dixie project in the Red Lake district of Ontario. Results are from the following zones along the LP Fault target: "Gap" (new), Auro and Bear-Rimini.  Highlights of recent results include:



  • 16.80 g/t gold over 4.15 metres (from 55.00 to 59.15 metres), and a separate interval of 1.25 g/t gold over 45.50 metres (from 125.25 to 170.80 metres) in the new Gap zone, located between the Bear-Rimini and Yuma zones.


  • 48.67 g/t gold over 8.70 metres (from 251.60 to 260.30 metres), including 241.88 g/t gold over 1.20 metres in the Auro zone.


  • 1.13 g/t gold over 41.80 metres (from 217.70 to 259.50 metres), which includes 6.69 g/t gold over 3.50 metres, and 1.13 g/t gold over 37.95 metres (from 264.60 to 302.55 metres) in the Bear-Rimini zone.


 


Chris Taylor, President and CEO of Great Bear said, "With the discovery of high-grade gold mineralization in the new Gap area, the last significant undrilled segment of the LP Fault between the Bear-Rimini and Viggo zones is being successfully filled.  Remarkably, all (100%) of the drill holes completed into the LP Fault structure to-date have intersected similar gold mineralization and host geology.  Results continue to support continuity of gold mineralization along more than 4 kilometres, which remains open along strike and at depth.  Our drilling strategy for 2020 is threefold: 1) We plan to continue the discovery process through drill-testing of new targets across the project, 2) we plan to continue significant step-out drilling over 12 kilometres of the 18 kilometre LP Fault, and 3) we will undertake concurrent closely spaced drilling in areas where we have already successfully intersected gold."


The Company also announces that details regarding a previously announced two percent Net Smelter Royalty ("NSR") spinout to its shareholders will be provided in January 2020.


The New Gap Zone:



  • Discovery hole BR-075 was completed between the Bear-Rimini and Yuma zones within an approximately one kilometre long previously undrilled gap (the Gap zone) in drilling and intersected 16.80 g/t gold over 4.15 metres, and 1.25 g/t gold over 45.5 metres. Gold was hosted by on-strike extensions of the felsic volcanic geology and quartz-sericite-albite alteration seen in the adjacent zones.


  • BR-075 is located on a 200 metre step-out to the northwest from the nearest drilling in the Yuma zone, and a 750 metre step-out to the southeast from the nearest drilling with results in the Bear-Rimini zone. As this hole was collared within the LP Fault zone and drilled to the southwest, the northern boundary of the LP Fault zone has not yet been intersected, and additional drilling will be required to determine the overall thickness of gold mineralization in this area. A map of updated drilling is provided in Figure 1 and a cross section through the Gap zone in the area of BR-075 is provided in Figure 2.


  • The Gap zone is situated in what was the only remaining significant (approximately 1 kilometre) undrilled segment of the 4 kilometres of the LP Fault tested to-date. While separate zone names are provided by Great Bear for communication purposes, results to-date suggest gold mineralization and host geology are continuous along the four kilometres of the LP Fault drilled thus far.


  • Drill hole BR-074 was drilled on the same section as discovery hole BR-075, but was located too close to the southern margin of the LP Fault zone and intersected only the wide lower grade gold mineralization typical of the zone's margins, assaying 0.36 g/t gold over 40.40 metres (see Figure 2).


 


Auro Zone Results:



  • One of the best holes drilled to-date at the Dixie project has been completed in the Auro zone. Drill hole BR-065 assayed 48.67 g/t gold over 8.70 metres, including 241.88 g/t gold over 1.20 metres. A cross section is provided in Figure 3 and images of high-grade visible gold are provided in Figure 4.


  • BR-065 is located 188 metres to the southeast of Auro zone drill hole BR-020 which yielded 10.65 g/t gold over 17.25 m, within a wider interval of 5.28 g/t gold over 42.0 metres, as originally reported on September 3, 2019, and 155 metres up-dip of the mineralized interval of drill hole BR-022 which assayed 14.9 g/t gold over 3.55 metres.


  • Once again, Great Bear's field crews have found favorable alteration, geology, mineralization and visible gold undocumented and un-assayed in historical drill core from the LP Fault zone, this time in drill hole DL-2006-01 from the Auro area. Drill core had been cross-piled in storage on the property for 13 years. See Figure 5. Assay results from historical drill hole DL-2006-01 are pending.


 


Bear-Rimini Zone Results:



  • Drill holes BR-041 and BR-042 were completed within the Bear-Rimini zone. Mineralized intervals were intersected 200 metres and 75 metres, respectively, vertically above the mineralized interval in drill hole BR-043, which intersected 125.4 metres of 1.08 g/t gold as was originally reported by the Company on October 10, 2019. A cross section is provided in Figure 6.


  • Drill hole BR-042 intersected 1.13 g/t gold over 41.80 metres, including 6.69 g/t gold over 3.50 metres, and a second interval (separated from the previous interval by a 5.10 metre unmineralized gap) of 1.13 g/t gold over 37.95 metres.


  • Drill hole BR-041 intersected a number of zones: 0.66 g/t gold over 10.00 metres, 0.67 g/t gold over 74.00 metres, and 1.05 g/t gold over 4.50 metres.


  • This drill section has defined a zone of continuous mineralization from the near-surface to approximately 400 metres vertical depth.


  • As observed at many locations along the LP Fault, the apparent thickness and strength of gold mineralization increases with depth and remains open to extension.


 


Additional drill holes have also now been completed further along the projected strike of the LP Fault zone and within the Gap zone from which assays are pending and will be released in the new year.  Great Bear plans to drill test approximately 12 kilometres of the 18 kilometre long LP Fault target during 2020.



Figure 1: Map of current drill results at the Dixie property (CNW Group/Great Bear Resources Ltd.)



Table 1: Most recent results from drilling along 4 kilometres of the LP Fault target.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=GBR%3ACC&qmodStoryID=7944543037845844 

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8020 Admin

3 months ago

8020 Admin posted a press release IIROC Trading Halt - GBR in GREAT BEAR RESOURCES





VANCOUVER, Dec. 16, 2019 /CNW/ - The following issues have been halted by IIROC:


Company: Great Bear Resources Ltd.


TSX-Venture Symbol: GBR (all issues)


Reason: At the Request of the Company Pending News


Halt Time (ET): 9:11 AM


IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.


SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions


View original content: http://www.newswire.ca/en/releases/archive/December2019/16/c3190.html

For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (http://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at inquiries@iiroc.ca or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly

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8020 Admin

3 months ago

8020 Admin posted a press release Great Bear Adds Drills and Expands Dixie Drill Program to 200,000 m in GREAT BEAR RESOURCES


VANCOUVER, Dec. 5, 2019 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported the significant expansion of its ongoing drill program at its flagship Dixie project in the Red Lake district of Ontario, from 90,000 metres to 200,000 metres.  The Company will also add additional drill rigs, beginning in January 2020.  The expanded drill program remains fully-funded with a 2020 budget of $21 million, and the Company has the ability to further augment the program with cash on hand.



Great Bear Resources Ltd. (CNW Group/Great Bear Resources Ltd.)



Details include:



  • Great Bear currently has $31 million in cash and an additional approximately $10 million of in-the-money warrants for a total potential cash position of approximately $41 million.


  • The expanded Dixie exploration program has a $21 million budget.


  • Approximately 110,000 additional metres will be added to the current 90,000 metre drill program, for a total of 200,000 metres of drilling to be completed by the end of 2020.


  • All-in drill costs remain well below the industry average, at approximately $175 - $185/m.


  • Drilling will continue year-round.


  • Drilling will focus on 1) the known gold zones at the LP Fault, Hinge Zone, Dixie Limb, and North Fault, and 2) additional new targets across the 22 kilometre strike length of the Dixie property.


  • Higher-capacity drill rigs have been mobilized to the property to increase production rates at shallow depths, and to allow penetration of up to 2,000 metres depth as may be required.


  • The Company anticipates having five drills active on site early in 2020, and may further adjust this number as required.


Chris Taylor, President and CEO of Great Bear said, "We are about to undertake one of Canada's largest gold-focused exploration drill programs in 2020, as we expect to have completed over 200,000 metres of drilling by the end of next year.  It's remarkable to think that when our drilling began two years ago, the Hinge Zone and the multiple zones along the LP Fault were still waiting to be discovered.  As we enter 2020, over 80% of the Dixie property remains to be explored.  With over $30 million on hand, more and larger drill rigs, and the knowledge we've gained through our ongoing successes, we can now further accelerate that discovery process.  We anticipate 2020 will mark our most exciting year to-date."


About Great Bear


Great Bear Resources Ltd. (TSX-V: GBR) is a well-financed company based in Vancouver, Canada, managed by a team with a track record of success in the mineral exploration sector. Great Bear holds a 100% interest in its flagship Dixie property, which is road accessible year-round via Highway 105, a 15-minute drive from downtown Red Lake, Ontario.  The Red Lake mining district is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Newmont Goldcorp Corp., plus modern infrastructure and a skilled workforce.  Production from the Red Lake district does not necessarily reflect the mineralization that may, or may not be, hosted on the Company's Dixie property.


The Dixie property hosts different styles of gold mineralization.  High-grade gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic rocks, and localized near regional-scale D2 folds, occur at the Dixie Limb and Hinge Zones.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.


The LP Fault is large a trans-crustal deformation zone that is interpreted to traverse the Dixie property for approximately 20 kilometres of strike length and has been drilled along 4.0 kilometres of strike length to-date.  It hosts high-grade gold mineralization that is controlled by structural and geological contacts, and low to moderate grade disseminated gold that surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.


In addition, Great Bear is also earning a 100% royalty-free interest in the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology.  All of Great Bear's Red Lake projects are accessible year-round through existing roads.


Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.


For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.


We seek safe harbor


View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-adds-drills-and-expands-dixie-drill-program-to-200-000-m-300969705.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2019/05/c9353.html



Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360

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8020 Admin

3 months ago

8020 Admin posted a press release Great Bear Closes C$16.7 Million Over-Subscribed Bought Deal Private Placement in GREAT BEAR RESOURCES


/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TSX-V:  GBR 

VANCOUVER, Nov. 28, 2019 /CNW/ -  Great Bear Resources Ltd. (TSX-V: GBR) ("Great Bear" or the "Company") is pleased to announce that it has closed an over-subscribed "bought deal" private placement financing (the "Offering"), previously announced on November 7, 2019 through a syndicate of underwriters led by Cormark Securities Inc. ("Cormark") and Canaccord Genuity Corp. ("Canaccord"), and including PI Financial Corp. (collectively, the "Underwriters").



Great Bear Resources Ltd. (CNW Group/Great Bear Resources Ltd.)



Both the offering of 1,750,000 shares, and 250,000 "additional shares" that were available for distribution, were fully subscribed. Accordingly, the Company has issued 2,000,000 common shares that qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) ("Flow-Through Common Shares") at a price of $8.35 per Flow-Through Common Share, for aggregate gross proceeds to the Company of C$16,700,000.


The proceeds of the Offering will be used to incur "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to Great Bear's projects in the Red Lake district of Ontario. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2019.


The Flow-Through Shares are subject to a four-month and one day hold period expiring on March 29, 2020, in accordance with applicable Canadian securities laws.


In connection with the Offering, the Company has paid the syndicate led by Cormark and Canaccord a cash commission of 6% of the gross proceeds of the Offering and reimbursed it for certain reasonable expenses and fees. 


Great Bear is currently engaged in a 90,000 metre drill hole program at its flagship Dixie property, which is expected to continue through 2019 and 2020.


The Offering is subject to final acceptance by the TSX Venture Exchange.


About Great Bear


Great Bear Resources Ltd. (TSX-V: GBR) is a well-financed company based in Vancouver, Canada, managed by a team with a track record of success in the mineral exploration sector. Great Bear holds a 100% interest in its flagship Dixie property, which is road accessible year-round via Highway 105, a 15 minute drive from downtown Red Lake, Ontario.  The Red Lake mining district is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Newmont Goldcorp Corp., plus modern infrastructure and a skilled workforce.  Gold production from the Red Lake district does not necessarily reflect the mineralization that may, or may not be, hosted on the Company's Dixie property.  The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that associated with other producing gold mines in the district.  In addition, Great Bear is also earning a 100% royalty-free interest in the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology elsewhere in the Red Lake district.  All of Great Bear's Red Lake projects are accessible year-round through existing roads.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca


This new release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


SOURCE Great Bear Resources Ltd.



 


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2019/28/c1796.html



Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

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GREAT BEAR RESOURCES

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Great Bear Resources Ltd is a precious metals exploration company. It explores for mineral properties in British Columbia and Quebec, Canada. Its property portfolio includes Great Bear's Red Lake Properties (two claim blocks) and Dixie Lake Project.

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GREAT BEAR RESOURCES

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Great Bear Resources Ltd is a precious metals exploration company. It explores for mineral properties in British Colu......

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8020 Admin

14 days ago

8020 Admin posted a press release Great Bear Defines High-Grade Gold Controls at LP Fault; Regional Drilling Identifies Six New Gold Targets Over 11 Kilometres; Provides LP Fault Drill Data in GREAT BEAR RESOURCES


VANCOUVER, Feb. 20, 2020 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new developments from its fully funded $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.


The Company has made significant progress in its predictive modeling of gold mineralization at the LP Fault zone, and its regional exploration program.  Highlights include:



  • Identification of key geological controls to the distribution of high-grade gold mineralization along the LP Fault. High-grade gold mineralization occurs in close proximity to a steeply-dipping felsic volcanic/metasedimentary contact. Figure 1.

  • The Company has retained Mr. James Gray, P.Geo., an independent consultant from Advantage Geoservices Ltd., to assist Great Bear's geological team with gold mineralization modeling. Mr. Gray's experience includes resource definition drilling and geological modeling at the David Bell mine at the Hemlo gold deposit, formerly operated by Teck Corporation, and currently owned by Barrick Gold Corp.

  • An airborne SkyTEM (electromagnetic) survey has been completed across the property, identifying new regional exploration drill targets. The new targets have similar geophysical characteristics to both the LP Fault zone and the Hinge and Dixie Limb zones. Follow-up drilling is required. Figure 2 and Figure 3.

  • 13 reconnaissance drill holes were completed outside of previously drilled areas across 11 kilometres of the property. The primary purpose of this drilling was to identify favorable structural and geological settings for additional follow-up drilling. Six new occurrences of highly anomalous gold mineralization have been discovered in 9 of the 13 drill holes, as shown on Figure 4. Highlighted results are included in the drill results table posted to the Company's website at www.greatbearresources.ca.

  • These new gold occurrences include: 1) highly deformed metasedimentary rocks (LP Fault style), and 2) quartz vein systems (Hinge zone style). The geological marker sequence (deformed meta-sedimentary rocks) previously identified at the LP Fault zone has now been intersected along approximately 7 kilometres. Drill density is insufficient at this time to determine what the gold distributions and geometries of these new gold occurrences may ultimately be. Follow-up drilling is required.

  • The Company has engaged consultants to assist with preliminary metallurgical testing of gold mineralized samples in advance of more advanced studies planned for 2021.

  • Ongoing environmental baseline studies continue on the property.

  • As previously announced on February 13, 2020, a table of highlighted assay results, including drill locations, azimuths and dips from the central 4.2 kilometre segment of the LP Fault have now been posted to the Company's web site. The Company has also provided three dimensional .DXF files of important geological controls on mineralization.


Chris Taylor, President and CEO of Great Bear said, "Ongoing drilling has shown us that the gold-mineralized system at Dixie is at least 11 kilometres in strike extent.  These early reconnaissance drill results are very similar to our initial footwall drilling into the LP Fault zone in 2018 and early 2019.  We now need to drill in the vicinity of these new occurrences to determine if and where high-grade gold is present, and whether these occurrences are connected.  Within the LP Fault zone itself, high-grade gold adjacent to a felsic volcanic/metasediment contact marks an additional similarity to Barrick's Hemlo deposit.  The gold deposits at Hemlo display similar geological and structural contexts, and have similar disseminated high-grade gold mineralization as observed at the LP Fault."



Figure 1: Distribution of gold intercepts and distance buffers of 50 and 100 metres from the contact between metasediments and felsic volcanic rocks along 4.2 kilometres of the LP Fault. (CNW Group/Great Bear Resources Ltd.)



 


Newly Identified Gold Controls


Ongoing LP Fault drilling has demonstrated that most of the > 5 g/t gold intercepts and nearly all of the >10 g/t gold intercepts drilled along the LP Fault to-date occur within 50 to 100 metres of the metasedimentary/felsic volcanic contact. 


This gold mineralization control provides a laterally and vertically-extensive, sheet-like contact that can be targeted with ongoing drilling, and will be important to ongoing modeling of the LP Fault zone.


Regional Geophysics and Reconnaissance Drilling


The Company completed a high-resolution electromagnetic (SkyTEM) airborne geophysical survey over the entire Dixie property in September of 2019 and recently received the survey results.  The purpose of the survey was to test if the LP Fault style of mineralization produces a resistive electromagnetic response.  The LP Fault mineralization is associated with strong silica and albite alteration of felsic volcanic and metasedimentary rocks, which was expected to be electrically resistive.  Results confirmed highly resistive responses below the known sections of the LP Fault in the modelled 3D inversion of the SkyTEM data (Figures 2 and 3), and several new multi-kilometre resistive trends with similar geophysical properties to the gold zone of the LP Fault have been identified and warrant follow-up field work and ultimately drill testing.    


The Company also repeated its exploration methods from the initial LP Fault discovery with additional regional drilling.  High-contrast magnetic breaks were drilled prior to receipt of the SKYTEM data, on one to two kilometre centres along the projected strike extent of the LP Fault, and targeting additional regional features.  The purpose of this program was to identify similar structural and geological settings to the LP Fault mineralization.  Multiple zones of anomalous gold were intersected along an interpreted strike length of 11 kilometres.  Some of these new zones display similarities to the LP Fault Zone and others are more comparable to the Hinge zone vein system.


Highlights of regional reconnaissance drill holes have been included in the LP Fault results table posted to the Company's web site.  Drill holes that successfully intercepted gold mineralization were: BR-052, 053, 054, 055, 056, 071, 072, 073, and 111. Seven of the nine drill holes which successfully intercepted gold mineralization are located along a possible on-strike projection of the LP Fault zone, while 2 of the gold-bearing drill holes occur at new regional targets (Figure 4).  Reconnaissance drill holes that did not intersect gold were BR-048, 049, 070 and 110. 


Live Webinar on Thursday February 20th


Great Bear reminds interested shareholders that they are invited to join a webinar detailing recent progress in the Company's ongoing fully-funded 200,000 metre drill program on Thursday, February 20th at 11:15am PST/2:15pm EST.  Management will be available to answer questions following the presentation.  Online registration and participation details may be found at the following link: https://bit.ly/37YvChd


For those unable to participate, a recording of the webinar will be posted to the Company's web site following the live broadcast.



Figure 2: SkyTEM results showing interpreted resistivity targets along the Dixie property, including the LP Fault.  Resistive rocks including the altered/mineralized zone of the LP Fault are shown in blue and white.  Locations of newly drilled regional gold zones are shown below in Figure 4. (CNW Group/Great Bear Resources Ltd.)




Figure 3: Resistivity/chargeability cross section of SkyTEM data showing the LP Fault zone, with adjacent high-resistivity targets also shown (blue to white targets). (CNW Group/Great Bear Resources Ltd.)



ABOUT THE DIXIE PROJECT


The Dixie Project is 100% owned, comprised of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible year-round via a 15 minute drive on a paved highway which runs the length of the northern claim boundary and a network of well-maintained logging roads.


The Dixie Project hosts two principle styles of gold mineralization:



  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb and Hinge). Hosted by mafic volcanic rocks, and localized near regional-scale D2 fold axes. These mineralization styles are also typical of the significant mined deposits of the Red Lake district.

  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault). The LP Fault is a significant gold-hosting structure which has been seismically imaged to extend to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by Great Bear to have up to 18 kilometres of strike length on the Dixie property. High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals. The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.


Figure 4: Map of recent regional reconnaissance drilling showing areas with confirmed gold-bearing drill intercepts. (CNW Group/Great Bear Resources Ltd.)


About Great Bear


Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.  Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project  (100% owned), the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.


QA/QC and Core Sampling Protocols


Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario.  Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories in Ontario, an accredited mineral analysis laboratory, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods.  Pulps from approximately 5% of the gold mineralized samples are submitted for check analysis to a second lab.  Selected samples are also chosen for duplicate assay from the coarse reject of the original sample.  Selected samples with visible gold are also analyzed with a standard 1 kg metallic screen fire assay.  Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear's quality control/quality assurance program (QAQC).  No QAQC issues were noted with the results reported herein.  Drill hole location information is provided below:


Qualified Person and NI 43-101 Disclosure


Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Cautionary note regarding forward-looking statements


This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.


Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.


Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.


View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-defines-high-grade-gold-controls-at-lp-fault-regional-drilling-identifies-six-new-gold-targets-over-11-kilometres-provides-lp-fault-drill-data-301008230.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2020/20/c7302.html

Investor Inquiries: Mr. Knox Henderson, Tel: 604-551-2360, Fax: 604-646-4526, info@greatbearresources.ca , www.greatbearresources.ca 

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8020 Admin

21 days ago

8020 Admin posted a press release Great Bear Drills 10.58 g/t Gold Over 21.00 m; Initiates 5 Kilometre Grid Drill Program at LP Fault; Mobilizes Fifth Drill Rig in GREAT BEAR RESOURCES

VANCOUVER, Feb. 13, 2020 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new developments from its fully funded $21 million exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.


The Company has completed a successful "first pass" 4.2 kilometre drill test of the LP Fault.  All (100%) of 59 drill holes on 50 - 250 metre spacings have successfully intersected gold mineralization.  A long section view of results is provided in Figure 1A continuously mineralized zone is now interpreted, the "LP Fault zone", which remains open both along strike and at depth.  Previously disclosed LP Fault zone names (Bear-Rimini, Gap, Yuma, Yauro, Auro and Viggo) will no longer be used in Great Bear's news releases.  Results will be provided by drill section on a go-forward basis.


Great Bear is now undertaking a systematic grid drill program testing a 2.5 square kilometre "panel" of the LP Fault (5 kilometres horizontally by 500 metres vertically from surface).  Drill spacing will initially average 100 metres along strike and 75 metres vertically.  Additional drilling below 500 metres is also being undertaken.  Up to 300 additional drill holes are required to complete this panel during 2020 and the Company is fully-funded for this work.  Four drill rigs are currently deployed along the LP Fault and a fifth drill rig will be used to continue concurrent regional exploration, including further LP Fault step-outs.


Highlights of current results include:



  • Drill hole BR-068 intersected 10.58 g/t gold over 21.00 metres, including 48.98 g/t gold over 3.25 metres on drill section 20750.  Results demonstrate apparent continuity of gold mineralization from surface to 305 metres vertical depth, and increasing gold grades and interval widths with increasing depth.  BR-068 is located 1.8 kilometres southeast of the LP Fault discovery hole DNW-011.  Table 1 and Figure 2


  • Drill hole BR-067 was completed on drill section 20600, located 150 metres to the southeast of drill section 20750, and intersected 10.95 g/t gold over 6.00 metres.  Results demonstrate apparent continuity of high-grade gold mineralization over 400 vertical metres and apparent continuity across the 150 metre distance to drill section 20750.  Gold was intersected to 550 metres vertical depth.  Figure 3.


  • Drill hole BR-057, which is the second most southeasterly hole intersecting the LP Fault to-date, returned 7.35 g/t gold over 3.50 metres, including 38.03 g/t gold over 0.50 metres on drill section 18750.  This hole is located approximately 4.2 kilometres southeast of LP Fault discovery hole DNW-011, and 1.85 kilometres southeast of drill section 20600.  Figure 4.


A cross section through the original LP Fault discovery hole is provided in Figure 5. Similar geology, structural controls and gold mineralization are present in all areas along the 4.2 kilometres of the LP drilled to-date.



Figure 1: Long section of the LP Fault gold zone as drilled to-date, highlighting various drill intercepts along 4.2 kilometres.  View towards the southwest. (CNW Group/Great Bear Resources Ltd.)



Chris Taylor, President and CEO of Great Bear said, "We now interpret a continuous gold-mineralized zone along more than four kilometres of strike length of the LP Fault, which remains open to extension.  Assay results, geology, and oriented structural data suggest the zone hosts steeply-dipping 'sheets' of disseminated high-grade gold mineralization with significant strike length and vertical extent.  More detailed drilling is required to accurately delineate the geometries of these high-grade 'sheets' and the boundaries of the surrounding mineralized envelope.  While the total LP Fault target is many times larger (Zeng and Calvert, 2006; 14 kilometres deep and 20+ kilometres in length based on seismic data), we've selected a 2.5 square kilometre section, 5 kilometres long by 500 metres deep, for grid drilling during 2020.  This will help characterize the gold mineralized system in preparation for more advanced studies in 2021 and has the potential to unlock significant potential additional value for our shareholders.  We will also continue property wide drill testing of new targets, including further step-outs on the LP Fault."


Table 1: Most recent results from drilling of the LP Fault.


Read more here: https://quotemedia.com/portal/quote/?qm_symbol=GBR%3ACA&qmodStoryID=7613749396199080 

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8020 Admin

29 days ago

8020 Admin posted a press release Great Bear to Host a Webinar on Thursday February 20th at 11:15am PDT/2:15pm EDT to Provide Update on Dixie Drill Program in GREAT BEAR RESOURCES


VANCOUVER, Feb. 5, 2020 /CNW/ - Great Bear Resources (the "Company" or "Great Bear", TSX-V: GBR) would like to invite interested shareholders to join Mr. Chris Taylor, P.Geo, President and CEO and Mr. R. Bob Singh, P.Geo, Vice President, Exploration for a webinar detailing recent progress in the Company's ongoing fully-funded 200,000 metre drill program at its 100% owned Dixie property in the Red Lake district of Ontario.


Live Webinar
The Great Bear webinar will take place on Thursday, February 20th at 11:15 am PDT/2:15 pm EDT.  Management will be available to answer questions following the presentation.  Online registration and participation details may be found at the following link:


https://bit.ly/37YvChd


For those unable to participate, a recording of the webinar will be posted to the Company's web site following the live broadcast.


BMO Global Metals and Mining Conference
The Company would also like to invite interested shareholders to listen to Mr. Taylor present at the 29th Annual BMO Global Metals and Mining Conference in Hollywood, Florida, at 10:00 am EDT on February 26th.  A link to the live broadcast, and to view presentation after the event, is provided here:


https://cc.talkpoint.com/bmoc001/022320a_js/?entity=3_BIHDW57


PDAC
Great Bear will also be participating at the annual Prospectors and Developers Association of Canada (PDAC) Convention held March 1st - 4th at the Toronto Convention Centre. Attendees are welcome to view Chris Taylor's presentation on March 2nd at 2:30 pm EDT in room 802 of the Convention Centre.  To meet management in person throughout the Convention, visit Great Bear in the Discovery Group booth in the Investors Exchange at booth #IE2813. Drill Core from the Dixie Project will be displayed with Great Bear geologists on hand in the PDAC Core Shack:


PDAC Core Shack - SESSION B
Tuesday, March 3, 10:00 am5:00 pm EDT
Wednesday, March 4, 9:00 am12:00 pm EDT


ABOUT THE DIXIE PROJECT


The Dixie Project is 100% owned, and consists of 9,140 hectares of contiguous claims that extend over 22 kilometres, and is located approximately 25 kilometres southeast of the town of Red Lake Ontario (a 15 minute drive). The project is accessible year-round via a paved highway which runs the length of the northern claim boundary, and through a network of well-maintained logging roads.


The Dixie property hosts two principle styles of gold mineralization:



  • High-grade gold in quartz veins and silica-sulphide replacement zones (Dixie Limb and Hinge). Hosted by mafic volcanic rocks, and localized near regional-scale D2 fold axes.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.


  • High-grade disseminated gold with broad moderate to lower grade envelopes (LP Fault).  Interpreted to traverse the Dixie property for approximately 18 kilometres of strike length and currently drilled along 4 kilometres of strike length.  High-grade gold mineralization is controlled by structural and geological contacts, and moderate to lower-grade disseminated gold surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.


 


About Great Bear


Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration. Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project  (100% owned), and the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.


Qualified Person and NI 43-101 Disclosure


Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.


We seek safe harbor View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-to-host-a-webinar-on-thursday-february-20th-at-1115am-pdt215pm-edt-to-provide-update-on-dixie-drill-program-300999158.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2020/05/c9082.html

Investor Inquiries: Mr. Knox Henderson, Tel: 604-551-2360, Fax: 604-646-4526, info@greatbearresources.ca , www.greatbearresources.ca 

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8020 Admin

1 month ago

8020 Admin posted a press release Great Bear Announces Proposed Spin-Out of 2.0% NSR on the Dixie Project to Create Great Bear Royalties Corp. in GREAT BEAR RESOURCES





TSX-V:  GBR                                                                             

VANCOUVER, Jan. 31, 2020 /CNW/ - Great Bear Resources Ltd. (TSX-V: GBR) (the "Company" or "Great Bear") today announces that is has entered into a 2.0% net smelter return royalty agreement (the "NSR Royalty") with a newly incorporated wholly-owned subsidiary named Great Bear Royalties Corp. ("Great Bear Royalties").  Great Bear plans to transfer the NSR Royalty, approximately $1 million in marketable securities currently owned by the Company, and $0.5 million in cash into Great Bear Royalties, which together will be the initial assets for a new royalty company. Great Bear will continue to focus on advancing the 100% owned Dixie Project, while Great Bear Royalties will allow shareholders to capture additional long-term value through the royalty interest.



Great Bear Resources Ltd. (CNW Group/Great Bear Resources Ltd.)



Great Bear Royalties will not initially be listed on a public stock exchange but will operate as a reporting issuer. Great Bear Royalties will evaluate all strategic opportunities available to the company to enhance value.


Terms of the Arrangement Agreement


Great Bear has executed an arrangement agreement with Great Bear Royalties, whereby the business of Great Bear will be reorganized into two companies by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). Great Bear shareholders will vote on the Arrangement at a special meeting of shareholders ("Meeting") to be held on a date to be announced. To be effective, the Arrangement must be approved by a special resolution passed by at least 66⅔% of the votes cast by Great Bear shareholders present in person or represented by proxy at the Meeting, which shareholders are entitled to one vote for each Great Bear share held.


The Arrangement involves, among other things, the distribution of 100% of the common shares of Great Bear Royalties (the "Great Bear Royalties Shares") to Great Bear shareholders such that each shareholder as of a particular date, immediately prior to closing of the transaction (the "Record Date") will receive one  share of  Great Bear Royalties for each four common shares of Great Bear held as of the Record Date. It is anticipated that the closing date will occur in April 2020. Great Bear warrants and options will also be adjusted pursuant to the Arrangement as described in more detail in the information circular ("Circular") that will be mailed to shareholders prior to the Meeting.


After careful consideration, the Board of Directors has unanimously determined that the Arrangement is fair to shareholders and is in the best interests of the Company. A description of the various factors considered by the Board of Directors in arriving at this determination will be provided in the Circular.


After closing of the Arrangement, Great Bear shares will continue trading on the TSX Venture Exchange in Canada under the symbol GBR, and on the OTCQX Market in the United States under the symbol GTBDF. Great Bear Royalties Shares will not be listed on any stock exchange after closing of the Arrangement, but the company will be a reporting issuer and will comply with its continuous disclosure obligations including press releases and financial reporting.


Grant of Stock Options


The Company also reports it has granted an aggregate of 710,000 stock options to employees, directors, consultants and advisors of the Company, exercisable at $8.67 per share for a period of five years. The options are subject to a four month hold period.


About Great Bear


Great Bear Resources Ltd. is a well-financed gold exploration company managed by a team with a track record of success in mineral exploration.   Great Bear is focused in the prolific Red Lake gold district in northwest Ontario, where the company controls over 300 km2 of highly prospective tenure across 4 projects: the flagship Dixie Project  (100% owned), and the Pakwash Property (earning a 100% interest), the Dedee Property (earning a 100% interest), and the Sobel Property (earning a 100% interest), all of which are accessible year-round through existing roads.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Cautionary note regarding forward-looking statements


This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.


Forward-looking statements and information include, but are not limited to, statements with respect to timing, structure and completion of the Arrangement, the transfer of assets from Great Bear to Great Bear Royalties, future growth potential for Great Bear and Great Bear Royalties, future mine development plans at the Dixie Project, anticipated benefits of the Arrangement, the timing and receipt of required shareholder, court, stock exchange and regulatory approvals for the Arrangement, the Company's financial guidance and outlook.


Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; the impact of general business and economic conditions; the absence of control over mining operations from which Great Bear will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to any international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects Great Bear or Great Bear Royalties; stock market volatility; regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties.


Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.


Great Bear undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.


View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-announces-proposed-spin-out-of-2-0-nsr-on-the-dixie-project-to-create-great-bear-royalties-corp-300996729.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2020/31/c8384.html



Investor Inquiries: Mr. Knox Henderson, Tel: 604-551-2360, Fax: 604-646-4526, info@greatbearresources.ca , www.greatbearresources.ca 

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8020 Admin

3 months ago

8020 Admin posted a press release Great Bear Drills New "Gap" Zone: 16.80 g/t Gold Over 4.15 m and 1.25 g/t Gold Over 45.50 m; Auro Zone Drilling Intersects 241.88 g/t Gold Over 1.20 m Within 48.67 g/t Gold Over 8.70 m in GREAT BEAR RESOURCES

VANCOUVER, Dec. 16, 2019 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported new results from its fully-funded 200,000 metre drill program at its 100% owned Dixie project in the Red Lake district of Ontario. Results are from the following zones along the LP Fault target: "Gap" (new), Auro and Bear-Rimini.  Highlights of recent results include:



  • 16.80 g/t gold over 4.15 metres (from 55.00 to 59.15 metres), and a separate interval of 1.25 g/t gold over 45.50 metres (from 125.25 to 170.80 metres) in the new Gap zone, located between the Bear-Rimini and Yuma zones.


  • 48.67 g/t gold over 8.70 metres (from 251.60 to 260.30 metres), including 241.88 g/t gold over 1.20 metres in the Auro zone.


  • 1.13 g/t gold over 41.80 metres (from 217.70 to 259.50 metres), which includes 6.69 g/t gold over 3.50 metres, and 1.13 g/t gold over 37.95 metres (from 264.60 to 302.55 metres) in the Bear-Rimini zone.


 


Chris Taylor, President and CEO of Great Bear said, "With the discovery of high-grade gold mineralization in the new Gap area, the last significant undrilled segment of the LP Fault between the Bear-Rimini and Viggo zones is being successfully filled.  Remarkably, all (100%) of the drill holes completed into the LP Fault structure to-date have intersected similar gold mineralization and host geology.  Results continue to support continuity of gold mineralization along more than 4 kilometres, which remains open along strike and at depth.  Our drilling strategy for 2020 is threefold: 1) We plan to continue the discovery process through drill-testing of new targets across the project, 2) we plan to continue significant step-out drilling over 12 kilometres of the 18 kilometre LP Fault, and 3) we will undertake concurrent closely spaced drilling in areas where we have already successfully intersected gold."


The Company also announces that details regarding a previously announced two percent Net Smelter Royalty ("NSR") spinout to its shareholders will be provided in January 2020.


The New Gap Zone:



  • Discovery hole BR-075 was completed between the Bear-Rimini and Yuma zones within an approximately one kilometre long previously undrilled gap (the Gap zone) in drilling and intersected 16.80 g/t gold over 4.15 metres, and 1.25 g/t gold over 45.5 metres. Gold was hosted by on-strike extensions of the felsic volcanic geology and quartz-sericite-albite alteration seen in the adjacent zones.


  • BR-075 is located on a 200 metre step-out to the northwest from the nearest drilling in the Yuma zone, and a 750 metre step-out to the southeast from the nearest drilling with results in the Bear-Rimini zone. As this hole was collared within the LP Fault zone and drilled to the southwest, the northern boundary of the LP Fault zone has not yet been intersected, and additional drilling will be required to determine the overall thickness of gold mineralization in this area. A map of updated drilling is provided in Figure 1 and a cross section through the Gap zone in the area of BR-075 is provided in Figure 2.


  • The Gap zone is situated in what was the only remaining significant (approximately 1 kilometre) undrilled segment of the 4 kilometres of the LP Fault tested to-date. While separate zone names are provided by Great Bear for communication purposes, results to-date suggest gold mineralization and host geology are continuous along the four kilometres of the LP Fault drilled thus far.


  • Drill hole BR-074 was drilled on the same section as discovery hole BR-075, but was located too close to the southern margin of the LP Fault zone and intersected only the wide lower grade gold mineralization typical of the zone's margins, assaying 0.36 g/t gold over 40.40 metres (see Figure 2).


 


Auro Zone Results:



  • One of the best holes drilled to-date at the Dixie project has been completed in the Auro zone. Drill hole BR-065 assayed 48.67 g/t gold over 8.70 metres, including 241.88 g/t gold over 1.20 metres. A cross section is provided in Figure 3 and images of high-grade visible gold are provided in Figure 4.


  • BR-065 is located 188 metres to the southeast of Auro zone drill hole BR-020 which yielded 10.65 g/t gold over 17.25 m, within a wider interval of 5.28 g/t gold over 42.0 metres, as originally reported on September 3, 2019, and 155 metres up-dip of the mineralized interval of drill hole BR-022 which assayed 14.9 g/t gold over 3.55 metres.


  • Once again, Great Bear's field crews have found favorable alteration, geology, mineralization and visible gold undocumented and un-assayed in historical drill core from the LP Fault zone, this time in drill hole DL-2006-01 from the Auro area. Drill core had been cross-piled in storage on the property for 13 years. See Figure 5. Assay results from historical drill hole DL-2006-01 are pending.


 


Bear-Rimini Zone Results:



  • Drill holes BR-041 and BR-042 were completed within the Bear-Rimini zone. Mineralized intervals were intersected 200 metres and 75 metres, respectively, vertically above the mineralized interval in drill hole BR-043, which intersected 125.4 metres of 1.08 g/t gold as was originally reported by the Company on October 10, 2019. A cross section is provided in Figure 6.


  • Drill hole BR-042 intersected 1.13 g/t gold over 41.80 metres, including 6.69 g/t gold over 3.50 metres, and a second interval (separated from the previous interval by a 5.10 metre unmineralized gap) of 1.13 g/t gold over 37.95 metres.


  • Drill hole BR-041 intersected a number of zones: 0.66 g/t gold over 10.00 metres, 0.67 g/t gold over 74.00 metres, and 1.05 g/t gold over 4.50 metres.


  • This drill section has defined a zone of continuous mineralization from the near-surface to approximately 400 metres vertical depth.


  • As observed at many locations along the LP Fault, the apparent thickness and strength of gold mineralization increases with depth and remains open to extension.


 


Additional drill holes have also now been completed further along the projected strike of the LP Fault zone and within the Gap zone from which assays are pending and will be released in the new year.  Great Bear plans to drill test approximately 12 kilometres of the 18 kilometre long LP Fault target during 2020.



Figure 1: Map of current drill results at the Dixie property (CNW Group/Great Bear Resources Ltd.)



Table 1: Most recent results from drilling along 4 kilometres of the LP Fault target.


Read more here:  https://quotemedia.com/portal/quote/?qm_symbol=GBR%3ACC&qmodStoryID=7944543037845844 

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8020 Admin

3 months ago

8020 Admin posted a press release IIROC Trading Halt - GBR in GREAT BEAR RESOURCES





VANCOUVER, Dec. 16, 2019 /CNW/ - The following issues have been halted by IIROC:


Company: Great Bear Resources Ltd.


TSX-Venture Symbol: GBR (all issues)


Reason: At the Request of the Company Pending News


Halt Time (ET): 9:11 AM


IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.


SOURCE Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions


View original content: http://www.newswire.ca/en/releases/archive/December2019/16/c3190.html

For further information about IIROC's trading halt policy, please see Trading Halts & Timely Disclosure (http://www.iiroc.ca/industry/marketmonitoringanalysis/Pages/Trading-Halts-Timely-Disclosure.aspx) at www.iiroc.ca under the Halts & Resumptions tab. Please note that IIROC staff cannot provide any information about a specific halt beyond what is contained in this halt notice. For general information about IIROC, contact IIROC's Complaints & Inquiries team at inquiries@iiroc.ca or 1-877-442-4322 (Option 2). For company-related enquiries, contact the company directly

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8020 Admin

3 months ago

8020 Admin posted a press release Great Bear Adds Drills and Expands Dixie Drill Program to 200,000 m in GREAT BEAR RESOURCES


VANCOUVER, Dec. 5, 2019 /CNW/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported the significant expansion of its ongoing drill program at its flagship Dixie project in the Red Lake district of Ontario, from 90,000 metres to 200,000 metres.  The Company will also add additional drill rigs, beginning in January 2020.  The expanded drill program remains fully-funded with a 2020 budget of $21 million, and the Company has the ability to further augment the program with cash on hand.



Great Bear Resources Ltd. (CNW Group/Great Bear Resources Ltd.)



Details include:



  • Great Bear currently has $31 million in cash and an additional approximately $10 million of in-the-money warrants for a total potential cash position of approximately $41 million.


  • The expanded Dixie exploration program has a $21 million budget.


  • Approximately 110,000 additional metres will be added to the current 90,000 metre drill program, for a total of 200,000 metres of drilling to be completed by the end of 2020.


  • All-in drill costs remain well below the industry average, at approximately $175 - $185/m.


  • Drilling will continue year-round.


  • Drilling will focus on 1) the known gold zones at the LP Fault, Hinge Zone, Dixie Limb, and North Fault, and 2) additional new targets across the 22 kilometre strike length of the Dixie property.


  • Higher-capacity drill rigs have been mobilized to the property to increase production rates at shallow depths, and to allow penetration of up to 2,000 metres depth as may be required.


  • The Company anticipates having five drills active on site early in 2020, and may further adjust this number as required.


Chris Taylor, President and CEO of Great Bear said, "We are about to undertake one of Canada's largest gold-focused exploration drill programs in 2020, as we expect to have completed over 200,000 metres of drilling by the end of next year.  It's remarkable to think that when our drilling began two years ago, the Hinge Zone and the multiple zones along the LP Fault were still waiting to be discovered.  As we enter 2020, over 80% of the Dixie property remains to be explored.  With over $30 million on hand, more and larger drill rigs, and the knowledge we've gained through our ongoing successes, we can now further accelerate that discovery process.  We anticipate 2020 will mark our most exciting year to-date."


About Great Bear


Great Bear Resources Ltd. (TSX-V: GBR) is a well-financed company based in Vancouver, Canada, managed by a team with a track record of success in the mineral exploration sector. Great Bear holds a 100% interest in its flagship Dixie property, which is road accessible year-round via Highway 105, a 15-minute drive from downtown Red Lake, Ontario.  The Red Lake mining district is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Newmont Goldcorp Corp., plus modern infrastructure and a skilled workforce.  Production from the Red Lake district does not necessarily reflect the mineralization that may, or may not be, hosted on the Company's Dixie property.


The Dixie property hosts different styles of gold mineralization.  High-grade gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic rocks, and localized near regional-scale D2 folds, occur at the Dixie Limb and Hinge Zones.  These mineralization styles are also typical of the significant mined deposits of the Red Lake district.


The LP Fault is large a trans-crustal deformation zone that is interpreted to traverse the Dixie property for approximately 20 kilometres of strike length and has been drilled along 4.0 kilometres of strike length to-date.  It hosts high-grade gold mineralization that is controlled by structural and geological contacts, and low to moderate grade disseminated gold that surrounds and flanks the high-grade intervals.  The dominant gold-hosting stratigraphy consists of felsic sediments and volcanic units.


In addition, Great Bear is also earning a 100% royalty-free interest in the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology.  All of Great Bear's Red Lake projects are accessible year-round through existing roads.


Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.


For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.


We seek safe harbor


View original content to download multimedia:http://www.prnewswire.com/news-releases/great-bear-adds-drills-and-expands-dixie-drill-program-to-200-000-m-300969705.html


SOURCE Great Bear Resources Ltd.


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2019/05/c9353.html



Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360

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8020 Admin

3 months ago

8020 Admin posted a press release Great Bear Closes C$16.7 Million Over-Subscribed Bought Deal Private Placement in GREAT BEAR RESOURCES


/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TSX-V:  GBR 

VANCOUVER, Nov. 28, 2019 /CNW/ -  Great Bear Resources Ltd. (TSX-V: GBR) ("Great Bear" or the "Company") is pleased to announce that it has closed an over-subscribed "bought deal" private placement financing (the "Offering"), previously announced on November 7, 2019 through a syndicate of underwriters led by Cormark Securities Inc. ("Cormark") and Canaccord Genuity Corp. ("Canaccord"), and including PI Financial Corp. (collectively, the "Underwriters").



Great Bear Resources Ltd. (CNW Group/Great Bear Resources Ltd.)



Both the offering of 1,750,000 shares, and 250,000 "additional shares" that were available for distribution, were fully subscribed. Accordingly, the Company has issued 2,000,000 common shares that qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) ("Flow-Through Common Shares") at a price of $8.35 per Flow-Through Common Share, for aggregate gross proceeds to the Company of C$16,700,000.


The proceeds of the Offering will be used to incur "Canadian exploration expenses" (within the meaning of the Income Tax Act (Canada)) related to Great Bear's projects in the Red Lake district of Ontario. The Company will renounce these expenses to the purchasers with an effective date of no later than December 31, 2019.


The Flow-Through Shares are subject to a four-month and one day hold period expiring on March 29, 2020, in accordance with applicable Canadian securities laws.


In connection with the Offering, the Company has paid the syndicate led by Cormark and Canaccord a cash commission of 6% of the gross proceeds of the Offering and reimbursed it for certain reasonable expenses and fees. 


Great Bear is currently engaged in a 90,000 metre drill hole program at its flagship Dixie property, which is expected to continue through 2019 and 2020.


The Offering is subject to final acceptance by the TSX Venture Exchange.


About Great Bear


Great Bear Resources Ltd. (TSX-V: GBR) is a well-financed company based in Vancouver, Canada, managed by a team with a track record of success in the mineral exploration sector. Great Bear holds a 100% interest in its flagship Dixie property, which is road accessible year-round via Highway 105, a 15 minute drive from downtown Red Lake, Ontario.  The Red Lake mining district is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Newmont Goldcorp Corp., plus modern infrastructure and a skilled workforce.  Gold production from the Red Lake district does not necessarily reflect the mineralization that may, or may not be, hosted on the Company's Dixie property.  The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that associated with other producing gold mines in the district.  In addition, Great Bear is also earning a 100% royalty-free interest in the Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology elsewhere in the Red Lake district.  All of Great Bear's Red Lake projects are accessible year-round through existing roads.


ON BEHALF OF THE BOARD


"Chris Taylor"                                  


Chris Taylor, President and CEO


Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca


This new release contains forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. We do not assume any obligation to update any forward-looking statements, other than as required by securities laws.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.


This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.


SOURCE Great Bear Resources Ltd.



 


View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2019/28/c1796.html



Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

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