Monday, October 21, 2019

Great Bear Resources Profile

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 that consist of West Madsen gold project located in the Red Lake Gold District comprising of two claims blocks; and Dixie Lake Project located at the Red Lake Ontario. The company’s resource properties are located in British Columbia and Ontario, Canada.

Great Bear Resources Websitewww.greatbearresources.ca
Stock SymbolTSXV: GBR, OTCQB: GTBDF
SEDAR ProfileSEDAR - Great Bear Resources Ltd.
Investor DeckCorporate and Technical Presentation
Company AssetsDixie Project:

In July 2017, the company entered into a purchase agreement with Newmont Mining to acquire Newmont’s 33% stake in the project for $80,000 in total cash payments over 4 years.

In September 2017, the company acquired an additional 26 minerals claims and today the Dixie property covers 9,140 hectares.

In November 2018 Great Bear completed the purchase of 100% royalty -free interest in the Dixie Gold Project, Red Lake Ontario.

At the Dixie Project, gold mineralization is confirmed along a 2.3 km strike of a 10 km target. The system at Dixie has a high-grade gold zone that includes recent intervals of 16.35 metres of 26.91 g/t gold and 7.00 metres of 68.76 g/t gold and is open along strike and at depth.

The above results prompted a $6 million investment by Rob McEwen and McEwen Mining, as part of a $10 million financing completed in September 2018. Combined with historical drilling, over 198 drill holes for 30,000 metres have been completed at Dixie. In March of 2018 Great Bear commenced a 10,000 metre drill program, of which results from 5,000 metres in 23 holes had been reported as of August with an additional 5,000 metres underway.

West Madsen (100%) is an on-strike extension of Pure Gold’s high-grade Madsen project.


West Madsen:

In August 2017, Great Bear signed a purchase agreement to acquire 100 percent ownership of an expanded West Madsen gold project in the Red Lake Gold District. The total remaining payments to acquire a 100% interest in the West Madsen property is $124,000 over four years plus payment of 100,000 common shares of Great Bear. All royalties at the Madsen project are being purchased for payment of 200,000 common shares of Great Bear.

The project comprises two claims blocks, the easternmost (Block ‘A’) is now directly contiguous to Pure Gold Mining’s Madsen property; each block is roughly six kilometres by three kilometres in size, for a total area of 3,860 hectares.

The West Madsen project is a newly identified geological continuity of the greenstone belt within the Balmer and Confederation assemblages, which are host to the adjacent historical Madsen and Starratt Olsen mines. Results from neighboring Pure Gold’s Madsen project, reported September to November 2016, include 126.6 g/t gold over 3.7 metres; 34.0 g/t Gold over 11.0 metres; 25.4 g/t gold over 8.0 metres; and 76.0 g/t gold over 2.1 metres. Recent logging road construction has opened the area to cost-effective exploration for the first time. Great Bear’s next step on the property is an initial exploration program of mapping and sampling and geophysics towards defining priority drilling targets.

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