Great Bear Resources Ltd.
Great Bear is a Vancouver-based gold exploration company focused on advancing its flagship Dixie project, in the high-grade Red Lake district of northwestern Ontario, Canada. The renowned Red Lake gold district has produced approximately 30,000,000 ounces of gold from 29 gold mines historically.
A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.
The Company is currently in the process of compiling all historical data together with incoming assay results, with the goal of publishing an initial multimillion-ounce NI 43-101 compliant mineral resource estimate for the Dixie project in early 2022.
Great Bear is a committed partner to all stakeholders, with a long-term vision of sustainable exploration to advance the Dixie project in a manner that demonstrates good stewardship of land, operational excellence and accountability.
Dixie Gold Project, Red Lake, Ontario
The Company's flagship Dixie project boasts one of the largest recent gold discoveries in a Canadian mining jurisdiction. Proximal to major infrastructure near the town of Red Lake, Ontario, the Dixie property comprises over 91.4 square kilometres of contiguous claims that extend over 22 kilometres with a paved highway and provincial power and natural gas lines. The property also hosts a network of well-maintained logging roads which facilitate access.
Twenty-three high-grade domains are structurally and geologically distinctive from the surrounding lower-grade, bulk-tonnage-style gold mineralization. Together, they span a strike length of 4.2 kilometres and occur within larger stratigraphically controlled lower-grade domains. They are characterized by high degrees of strain and/or transposed quartz vein zones following two distinct structural fabrics and transition from upper green schist to lower amphibolite facies metamorphism. Gold in the high-grade domains is generally observed as free gold, is often transposed into and overgrows the dominant structural fabrics, and is higher-grade on average than the surrounding bulk tonnage gold zones.
2021 Exploration Drill Program
To date, Great Bear has completed more than 700 drill holes, identifying three high-grade gold discoveries. The most significant discovery is the large-scale LP Fault zone, which comprises high-grade disseminated gold mineralization within broad moderate-to-lower-grade envelopes in felsic volcanic and sediment units. LP Fault drilling has identified gold mineralization along 11 kilometres of strike length to date, and a detailed drill grid is being completed along approximately four kilometres of strike length. The nearby Hinge and Limb gold zones are more characteristic of the renowned Red Lake mined deposits, comprising gold-bearing quartz veins and silica-sulphide replacement zones hosted by mafic volcanic units. Over 80 per cent of the Company's drill holes into the LP Fault, Dixie Limb and Hinge zones contain visible gold mineralization. Gold occurs mainly as free gold, neither bound to nor within sulphide minerals.
Attractive Investment Opportunity
Significant Gold Asset with Growth Potential
Strong Financial Position with Stakeholder Support
Management and Directors
Chris Taylor, M.Sc., P.Geo., President, Chief Executive Officer and Director (since Dec. 2012)
Structural and economic geologist and mining entrepreneur with over 20 years of experience in mineral exploration, mine development and operations
Chairman of Kodiak Copper Corp.
Formerly a geologist with Imperial Metals Corp.
Bob Singh, B.Sc., P.Geo., Director, Vice President of Exploration
Professional Geologist with over 30 years of experience (17 years in Red Lake District)
Strong technical background in evaluating and exploring gold and base metal systems
Outstanding geological, data and project management abilities
Developed new software and technologies for recording and analyzing geological data
Identified the Dixie property as having the potential to host a major gold mineralization system in 2015, and the discoveries began in 2017
Andrea Diakow, B.Sc., P.Geo., Vice President of Projects
Over 14 years of experience in exploration for precious metals, base metals and diamonds throughout North America
Over 6 years in Red Lake
Plans and coordinates Great Bear's exploration program and monitors QA/QC practices
Calum Morrison, CFA, CPA, CA, Chief Financial Officer & Vice President of Business Development
Over 15 years of experience in the mining industry, having worked both in corporate development and investment banking roles
Rita Bennett, B.Comm, Vice President of Corporate Communications
20 years of professional and entrepreneurial experience in marketing, communications and business administration
Former Director and VP Marketing for digital marketing agencies and mining companies
Ian Russell, Project Manager
Zeenat Lokhandwala, Director, Finance
Darryl Boyd, Director, Environment
Jenni Piette, Director, Sustainability & Stakeholder Relations
Michael Kenyon, B.Sc., M.Sc., Geology, Chairman, Director
Gil Lawson, B.Eng., Independent Director
Doug Ramshaw, B.Sc. (ARSM), Independent Director
Paula Rogers, CPA, CA, Independent Director
David Terry, Ph.D., P.Geo., Independent Director
On December 08, 2021, Great Bear Resources Ltd. has entered into a binding agreement with Kinross Gold Corp. under which Kinross has agreed to acquire all of the outstanding common shares of Great Bear.
Under the terms of the transaction, Great Bear shareholders will receive upfront consideration of approximately $1.8-billion, representing $29 per Great Bear common share on a fully diluted basis. Great Bear shareholders will be able to elect to receive the upfront consideration as either: (i) $29 in cash; or (ii) 3.8564 Kinross shares per Great Bear share, both subject to proration.
On November 24, 2021, Great Bear Resources Ltd. has released drill results from its 100-per-cent-owned flagship Dixie project, in the Red Lake district of Ontario. Great Bear discovers new gold zone west of Hinge and Limb zones: 20.27 G/T gold over 1.75m, within 5.69G/T gold over 7.05m; reports new LP fault result including 16.07 G/T gold over 3.70m within 3.1 G/T gold over 28.30m.
On October 25, 2021, Great Bear Resources Ltd. reported 95.2% to 99.2% gold recoveries in preliminary LP Fault metallurgical tests – gold is free milling and readily soluble at all grades.
Highlights of gold recovery results: