Great Bear Resources (TSX: GBR) announced on Monday that it has intersected the deepest and highest-grade interval to date on its flagship Dixie gold Project in the Red Lake district of Ontario.
The company said that drilling intersected deep extensions of the Dixie Limb around 740 metres below surface and new Hinge zone-style veins around 840 metres below surface, which doubles the known depth of gold mineralization.
The hole intersected the widest high-grade gold interval in the Dixie Limb zone to date, Great Bear said.
Results included 10.2 grams per ton (g/t) gold over 19 metres, including 68.6 g/t over 2.7 metres, which itself included 133.5 g/t over 1 metre.
“With our first deep drill hole, we have doubled the known vertical extent of the Dixie Limb and intersected new Hinge zone style veins that may represent extensions to the Hinge zone,” Chris Taylor, President and CEO of Great Bear said in the media release.
“These results define a new, high-priority exploration target that has the potential to combine the predictable geometry of the Dixie Limb zone with the higher gold grades of the Hinge zone.”
Great Bear initially acquired the Dixie project in 2015 and consolidated its interest to 100% in 2017.
Midday Monday, Great Bear’s stock was up 11.3% on the TSXV. The company has a C$587 million market capitalization.