Great Bear Resources (GBR.V) has released a fresh batch of drill results with 21 Meters of 10.58 g/t gold as its headline result (including 3.25 meters of 48.98 g/t gold so the residual gold grade would be 3.37 g/t gold (and should be well above cutoff grade so we don’t see any smearing issues here) and other holes returned 6 meters of 10.95 g/t gold and 3.5 meters of 7.35 g/t gold. We are copying the table of the assay results here below, but even more interesting than the batch of drill results are the message Great Bear appears to be spreading while reading between the lines.
A fifth drill rig will be added to further accelerate the drill program (which has encountered zero (!-0!) duds so far as all 59 holes on the LP fault have encountered gold mineralization. Some of that mineralization was low-grade, some of it was ultra high-grade. So basically all results were entirely within the parameters that could be expected from a Red Lake deposit. What’s interesting is that coinciding with the announcement of adding a fifth drill rig, Great Bear will initiate a ‘systematic grid drill program’ to test a 2.5 square kilometer area of the LP fault in 100 meter spacings.
Narrowing down the spacing could potentially be interesting because if the continuity along the LP fault could be proven, a 100 meter spacing could potentially be sufficient for an initial inferred resource estimate (but that remains to be seen and will be in function of the continuity of the gold mineralization). It will be interesting to see if Great Bear will start guiding towards a maiden resource estimate in 2021 because if that happens, we can be certain the current 2.5 square kilometer grid drill program will be intended to maximize a potential resource on those zones.
Keep in mind that it is still early days at the LP Fault and it’s not because Great Bear has had a 100% success rate so far they will be able to keep that up. In fact, the odds of encountering an empty hole are increasing with every successful hole (the chances of completing a 300 hole delineation drill program without ‘failing’ once is non-existent), and just like the previous batches of drill results we will very likely see zones of high-grade gold mineralization with perhaps thicker (?) zones of lower grade gold. In any case, the upcoming grid drill program will be of great help to Great Bear’s geologists to interpret the mineralization along the LP Fault.
Disclosure: The author has a long position in Great Bear Resources. Great Bear is a sponsor of the website.
