Great Bear Begins Summer Field Program in Golden Triangle
August 24, 2016 / TheNewswire / Vancouver, BC, Canada. - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today announces the commencement of field investigations at the Company's 50 percent owned BA and Surprise Creek projects in the Golden Triangle district of British Columbia.
Figure 1: BA and Surprise Creek claim blocks owned 50% by Great Bear
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Great Bear's exploration team is now channel sampling across multiple prospective zones of silver-lead-zinc and gold-copper mineralized volcanogenic massive sulphide (VMS)-bearing stratigraphy that is believed to underlie more than half of the 170 km2 BA and Surprise Creek projects. Great Bear's claims, shown in Figure 1, straddle the paved, all-weather highway 37A, which significantly reduces exploration expenses relative to other regional explorers. The $250,000 program costs will be borne on a 50-50 basis by Great Bear and its joint venture partner Mountain Boy Minerals Ltd. (TSX-V: MTB; "Mountain Boy"). Great Bear is operator at the 95 km2 BA claim block, while Mountain Boy is operator at the 75 km2 Surprise Creek claim block.
In 2010, Great Bear completed a 82 hole, 15,000 metre drill program targeting a 1,200 metre by 800 metre zone of silver-lead-zinc mineralized stratigraphy. The "BA Zone" is an erosive exposure of a much larger, frequently mineralized sedimentary horizon which has similar characteristics to host rocks at the past producing Eskay Creek mine to the north, and is also present on the Company's Surprise Creek claims. Highlights of drill results include 106.71 m (core length) of 81 g/t silver, 1.37% lead and 1.62% zinc in drill hole BA-2007-5, and the discovery of higher grade "feeder" zones such as 3.05 m of 401 g/t silver, 4.14% lead, 0.46% zinc and 0.46% copper in drill hole BA-2010-082. Higher temperature copper-bearing intervals within the BA Zone were observed to return up to 2 g/t gold where assayed, defining true polymetallic massive sulphide zones within a broadly mineralized sediment package.
Great Bear has been notified that prospecting work being carried out by Mountain Boy at the Surprise Creek claim block has identified further exposures of semi-massive to massive sulphide mineralization including concentrated sphalerite (zinc sulphide) with barite in grab samples at the "Rumble Zone". Great Bear first mapped and sampled the Rumble zone in 2010. The zone occurs within the same mineralized horizon as the BA Zone, and is located 30 kilometres to the north. The Rumble Zone previously yielded grab samples returning up to 2.28% zinc, 3.85% lead, and 62 g/t silver, and demonstrates the widespread and highly prospective nature of the main target horizon that underlies large portions of both projects. The Rumble Zone presents an attractive target for future drilling.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 778-327-5799.
ON BEHALF OF THE BOARD
"Chris Taylor"
Chris Taylor, President and CEO
Inquiries:
Tel: 778-327-5799
Fax: 778-327-6675
info@greatbearresources.ca
www.greatbearresources.ca
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This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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