Great Bear Resources Ltd (TSXV:GBR) News and Share PriceMining
Great Bear Resources Ltd is a mining company that explores and develops gold properties.
The company operates majorly in the Ontario’s Red Lake District and owns properties in more than 300 square kilometer area.
The portfolio consists of the following projects:
• Red Lake North
The properties have year-round accessibility through roads and terminals, the company claims.
Great Bear Resources’ principal asset is the Dixie Project. The project consists of multiple gold discoveries in various zones, including the Dixie Limb, Bear Rimini, Arrow, Hinge, Auro, Yauro, Gap Zone, Viggo and Yuma.
Dixie project is located 25 kilometers to the southeast of the Red Lake in Ontario. The gold exploration hosts two gold mineralization styles.
In 2017, Great bear entered into an agreement with Newmont Mining, wherein it purchased 33 per cent stake in the latter’s mineral rights at the project.
It further acquired 26 additional claims from Newmont. By November 2018, Great Bear Resources Ltd increased its stake to 100 per cent at the property.
Dixie property can be accessed via Highway 105 from Red Lake and has year-round water supply resources as the area comprises various lakes, rivers, and swamps.
The project is also in close to proximity to major power lines running through the area, with a population of around 4,670 people.
The mineral exploration company claims that since 1949 the district produced 29 million ounces of gold from four mines, of which only Newmont’s Red Lake gold mine is still in operation.
The company further claims that the seasonal tourism and gold mining activities at the project contributes to its economic stability.
Great Bear Resources Ltd’s other significant properties include gold mineralization projects at Red Lake district, including:
The property is spread across 15,300 hectare of land and can be accessed through road. According to official drill reports, the property has significant discoveries of sulfides that resemble the ones found at Dixie Limb Zone.
The Pakwash property is a 3100-hectare land located to the southeast of the Dixie property.
Another Great-bear owned property is Sobel, a 3200-hectare area representing high-grade gold mineralization.
The mining firm uploads investor related documents, financial reports, and information about the on-going exploration projects on its official website.
Suite 1020 - 800 West Pender Street Vancouver, BC V6C 2V6