Great Bear sam­ples up to two g/t Au at West Mad­sen

Stockwatch Daily - - MINES & METALS - Mr. Chris Tay­lor re­ports

GREAT BEAR Re­sources has re­leased re­sults of a high res­o­lu­tion airborne mag­netic sur­vey com­pleted by the com­pany in Oc­to­ber, and gold ex­plo­ration re­sults from its West Mad­sen prop­er­ties. Gold sam­ples col­lected at West Mad­sen oc­cur within prom­i­nent geo­phys­i­cally-de­fined ex­ten­sions of the gold-host­ing ge­ol­ogy at Pure Gold Min­ing’s Mad­sen prop­erty that also con­tinue on to Great Bear’s claims. Though work is at an early stage, each trend is con-

firmed to host gold min­er­al­iza­tion, with sam­ples re­turn­ing be­tween 0.9 gram per tonne gold and two g/t gold. Great Bear re­cently sam­pled 0.9 g/t gold within sili­ci­fied, pyritic rocks con­tain­ing up to 15-per-cent sul­phides re­cov­ered from a large trench two kilo­me­tres west of Pure Gold’s claims. The trench is not in­cluded in any avail­able as­sess­ment re­ports or other pub­licly avail­able data, but is clear ev­i­dence of ad­di­tional ex­plo­ration ac­tiv­ity on Great Bear’s prop­erty.

Chris Tay­lor, chief ex­ec­u­tive of­fi­cer of Great Bear, said: “We are very en­cour­aged by early work on our West Mad­sen claims. In the Red Lake district, sam­ples are gen­er­ally con­sid­ered highly anoma­lous at the 50 parts per bil­lion (0.05 g/t) gold level. Early-stage work at West Mad­sen has con­firmed much higher lev­els of ap­prox­i­mately one to two g/t gold in three through-go­ing ex­ten­sions of the ad­ja­cent Mad­sen ge­ol­ogy. The con­fir­ma­tion of mul­ti­ple min­er­al­ized trends at our project strongly sup­ports fol­low-up prospect­ing and map­ping to de­fine fu­ture drill tar­gets. The West Mad­sen prop­er­ties of­fer a low-cost, highly prospec­tive and eas­ily ac­ces­si­ble ad­di­tion to our pri­mary fo­cus at Dixie Lake, where we are plan­ning to be­gin phase 2 drilling af­ter Christ­mas.”

Sur­vey re­sults at West Mad­sen Block B, which is lo­cated five kilo­me­tres to the west of Block A, show two pri­mary gold tar­gets: 1) a prom­i­nent north­east to south­west mag­netic lin­ear, and 2) strong ev­i­dence of large-scale fold­ing. The mag­netic lin­ear has been de­scribed in re­gional re­ports as the on-strike ex­ten­sion of the Red Lake green­stone belt, which is mapped as con­tin­u­ing to the west where it ul­ti­mately be­comes the Rice Lake gold district of west­ern­most On­tario and south­ern Man­i­toba.

Fold­ing is crit­i­cal to grade en­rich­ment at the Great Bear’s Dixie Lake prop­erty, and within many other Red Lake district gold de­posits in­clud­ing the Red Lake mine of Gold­corp. Great Bear has not yet prospected West Mad­sen Block B, but re­sults of the geo­phys­i­cal sur­vey have pro­vided two tar­get ar­eas for fol­low-up ex­plo­ration, fo­cused on the fold hinge area, and along the main mag­netic lin­ear.

Both Mad­sen blocks will be fur­ther ex­plored in spring, 2018, af­ter con­clu­sion of a win­ter drill cam­paign at the Dixie Lake project that is slated to be­gin af­ter Christ­mas.

Great Bear is earn­ing a 100-per-cent roy­alty-free in­ter­est in the Dixie Lake prop­erty which con­sists of 7106 hectares. In ad­di­tion, Great Bear is also earn ing a 100-per-cent roy­alty-free in­ter­est in its West Mad­sen prop­er­ties which to­tal 2725 hectares and are con­tigu­ous with Pure Gold Min­ing’s Mad­sen prop­erty. All of Great Bear’s Red Lake projects are ac­ces­si­ble year-round through ex­ist­ing roads.

All sam­ples were sent to Ac­ti­va­tion Lab­o­ra­to­ries in An­caster, Ont., an ac­cred­ited min­eral anal­y­sis lab­o­ra­tory, for anal­y­sis for gold us­ing stan­dard fire as­say AA tech­niques. Cer­ti­fied gold ref­er­ence stan­dards, blanks and field du­pli­cates were rou­tinely in­serted into the sam­ple stream, as part of Great Bear’s qual­ity con­trol/qual­ity as­sur­ance pro­gram.

Bob Singh, PGeo, di­rec­tor and vice-pres­i­dent, ex­plo­ration, for Great Bear, is the qual­i­fied per­son as de­fined by Na­tional In­stru­ment 43-101 re­spon­si­ble for the ac­cu­racy of tech­ni­cal in­for­ma­tion con­tained in this news re­lease.

We seek Safe Har­bor.

Dou­glas Wil­liam Ramshaw, An­to­nio Mario Ricci, Ra­jbinder Bob Singh, Christo­pher Neil Ake­hurst Tay­lor, David An­drew Terry

(GBR) Shares: 14,895,998

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.