Great Bear raises $11m with flow-through private placement
Great Bear Resources (CVE: GBR) of Vancouver has raised C$14.6 million (about $11m) for its exploration projects – chief among them the Dixie property – near Red Lake. The company issued 1.75 million flow-through shares at a price of C$8.35 per share. The deal is expected to close on or about Nov. 17, 2019.
Great Bear has enjoyed considerable success at Dixie and announced very promising drilling results three times in the third quarter of this year. The best assay reported in October 2019 from Dixie was 30.81 g/t gold over 2.5 metres in a newly discovered high-grade sub-zone.
Great Bear is also earning a 100%, royalty free interest in the Pakwash, Dedee and Sobel properties in the Red Lake camp.
(This article first appeared in the Canadian Mining Journal)