"We have had interest in our property from mining companies and investors across the board, but we are not in a rush to make any transactional decisions. A story like GBR helps attract investor interest back to the mining industry. We want to continue developing a good mining industry story so that speculative dollars can return to the sector."
Great Bear Resources (GBR) has been the great success story of the Canadian junior mining community in the last 12 months. What were the key milestones that contributed to this success?
Great Bear Resources (GBR) has been fortunate to experience a sequence of back to back gold discoveries on the Dixie property. Approximately 12 months ago, we only had two zones discovered, but we have now increased this to seven discovered zones. The LP fault transects the property for approximately 18km of strike length.
The Dixie project has transformed from another high-grade gold in quartz vein story, to being something entirely different now. The mineralization along the LP fault has very large-scale potential, and there are big intervals of high-grade gold mineralization going right to surface, but it is not in veins. The mineralization is more disseminated in the rock, similar to something like the Hemlo deposit.
Considering the grades GBR has found at Dixie and its location in the Red Lake Camp, how was it not developed before?
There is very little bedrock exposure on the property. On average there is approximately a 4m deep gravel blanket that covers the project. It is very shallow gravel cover, but it covers everything up which means if you are prospecting in the area, you do not see bedrock and you are not going to find gold unless you drill.
In October 2019, GBR announced new near-surface high-grade zone discoveries at the Dixie project. Can you elaborate on these findings?
From our ongoing, fully-funded 90,000m drill program at the Dixie project, three new gold discoveries have been made – Yauro, Viggo, and the North Fault. The new Yauro Zone is located between the Yuma and Auro discoveries along the LP Fault, and a structural dilation has localized multiple high-grade gold mineralized intervals. The Yauro Zone occurs near a deflection point in the trend of the LP Fault and consists of several gold intervals spanning two drill holes collared 125m apart, with intervals of mineralization observed over 300m of apparent width. Gold mineralization extends to within meters of surface in both discovery drill holes and this discovery marks the largest apparent concentration of near-surface high-grade gold intersected at the Dixie property to-date. Drilling 1km southeast of the Auro Zone the new “Viggo Zone” has extended the LP Fault gold mineralized system to 4km of strike length, which remains open to extension. The first drill hole testing the “North Fault” has intersected Hinge Zone style gold-bearing quartz veins. Follow-up drilling will test this new 18km long target which parallels the LP Fault.
Do you think that there is any interest to consolidate the Red Lake region?
There is a lot of speculation on the consolidation front, and we have had opportunities presented along the lines of consolidation. However, we are much more interested in determining and showing the market how much gold we have.
We have had interest in our property from mining companies and investors across the board, but we are not in a rush to make any transactional decisions. A story like GBR helps attract investor interest back to the mining industry. We want to continue developing a good mining industry story so that speculative dollars can return to the sector.
Where would you like to see GBR by the end of 2020?
By the end of 2020, GBR hopes to have a maiden resource published. We are fully funded to define our resource and the results might come a little sooner than the market expects. If we reach mutually agreeable terms, we might also enter into a strategic investment transaction. We are open to collaborating with parties for the advancement of the project. We aim to always be ready to develop the project to where we can take it to, but we are open to operational partnerships.
GBR is a great example of why our industry exists. There is hope for the exploration sector when you see good drilling results in a mature jurisdiction. We believe that thinking out of the box can lead to significant discoveries, and the Dixie project is testament to this.