TSX-V: GBR
VANCOUVER, BC, March 8, 2021 /CNW/ - Great Bear Resources Ltd.
(the "Company" or "Great Bear", TSX-V: GBR; OTCQX: GTBAF) is
pleased to announce the addition of Mr. Gilbert Lawson, P.Eng. to its Board of
Directors.
Mr. Lawson is a Professional Mining Engineer with over 34 years
of production and management experience, holding positions
including:
- Chief Operating Officer of TMAC Resources Inc., overseeing
operations at the Hope Bay mine in Nunavut, until its acquisition by Agnico Eagle
Mines Ltd.
- Vice President, Geology & Mine Planning for global
operations, and Vice President, Operational Support for
Canada and the United States at Goldcorp Inc., overseeing
and evaluating geological modeling, mine planning, feasibility
studies, and a portfolio of major mining operations.
- Mine Manager and Project & Business Development Manager at
the Campbell Mine in Red Lake
Ontario, now part of the Red Lake Mine Complex operated by
Evolution Mining Ltd.
- Chief Engineer, Mine Manager and Mine General Manager at the
Musselwhite Mine in Ontario, now
operated by Newmont Corp.
Experience especially relevant to Great Bear's Dixie project
includes managing operations at both the Musselwhite and Campbell
Mines, which are two of the largest gold mines in Ontario.
Mr. Lawson was also instrumental in establishing Wataynikaneyap
Power, a First Nations owned power transmission company linking
numerous First Nations communities and the Musselwhite mine in
northwestern Ontario.
Mr. Lawson has a detailed understanding of all stages of mine
construction and operations, from resource definition and economic
studies, to mine permitting, ore extraction, processing,
environmental monitoring and site reclamation. He also has a
proven track record of successful community and governmental
relations, and as a resident of northwestern Ontario, is familiar with local stakeholder
concerns and interests.
Mr. Lawson said, "I am proud to join Great Bear as a member of
the team and contribute to the unfolding of the next great deposit
in the Red Lake
district. Having worked and lived in northwestern
Ontario and the Red Lake belt for many years, I have a unique
perspective of this area and how to help blend the geological
endowment, technology and people to build a major gold operation to
benefit the surrounding communities and our shareholders.
From my initial review of the Dixie data, there are clear
similarities to some of the famous mines in this camp, yet at the
same time it has a uniqueness with no analogy in other Archean
systems. It is rare to find a gold deposit with both
predictable mineralization stretched over several kilometres, and
with high grades with visible gold, which is a trademark of the
camp. I am looking forward to the commencement of the
resource modeling and engineering studies to find the optimal mine
design and help build a great project."
Chris Taylor, President and CEO
of Great Bear said, "Mr. Lawson began his career as an underground
miner at the Dome mine in Ontario,
and progressed through engineering and mine management positions to
COO, working at many of North
America's leading operations. Mr. Lawson knows our
rocks, knows our people, knows our neighbouring communities, and
knows how to build and operate the kind of major project we believe
Dixie has the potential to become. We're very pleased to have
him join our team and believe his expertise will be of enormous
benefit to our shareholders."
The Company also reports it has granted an aggregate of 150,000
stock options to a director of the Company, exercisable at
$13.98 per share for a period of five
years. The options are subject to a four month hold
period.
About the Dixie Project
The Dixie Project is 100% owned, comprised of 9,140 hectares of
contiguous claims that extend over 22 kilometres, and is located
approximately 25 kilometres southeast of the town of Red Lake, Ontario. The project is accessible
year-round via a 15 minute drive on a paved highway which runs the
length of the northern claim boundary and a network of
well-maintained logging roads.
The Dixie Project hosts two principal styles of gold
mineralization:
- High-grade gold in quartz veins and silica-sulphide
replacement zones (Dixie Limb, Hinge
and Arrow zones). Hosted by mafic volcanic rocks and localized
near regional-scale D2 fold axes. These mineralization styles are
also typical of the significant mined deposits of the Red Lake district.
- High-grade disseminated gold with broad moderate to lower
grade envelopes (LP Fault). The LP Fault is a significant
gold-hosting structure which has been seismically imaged to extend
to 14 kilometres depth (Zeng and Calvert, 2006), and has been interpreted by
Great Bear to have up to 18 kilometres of strike length on the
Dixie property. High-grade gold mineralization is controlled by
structural and geological contacts, and moderate to lower-grade
disseminated gold surrounds and flanks the high-grade intervals.
The dominant gold-hosting stratigraphy consists of felsic sediments
and volcanic units.
About Great Bear
Great Bear Resources Ltd. is a well-financed gold
exploration company managed by a team with a track record of
success in mineral exploration. Great Bear is focused in the
prolific Red Lake gold district in
northwest Ontario, where the
company controls over 330 km2 of highly prospective
tenure across 5 projects: the flagship Dixie Project (100% owned),
the Pakwash Property (earning a 100% interest), the Dedee Property
(earning a 100% interest), the Sobel Property (earning a 100%
interest), and the Red Lake North Property (earning a 100%
interest) all of which are accessible year-round through existing
roads.
Qualified Person and NI 43-101 Disclosure
Mr. R. Bob Singh, P.Geo, VP
Exploration, and Ms. Andrea Diakow
P.Geo, Exploration Manager for Great Bear are the Qualified
Persons as defined by National Instrument 43-101 responsible for
the accuracy of technical information contained in this news
release.
ON BEHALF OF THE BOARD
"Chris
Taylor"
Chris Taylor, President and
CEO
Cautionary note regarding forward-looking
statements
This release contains certain "forward looking statements"
and certain "forward-looking information" as defined under
applicable Canadian and U.S. securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes.
Forward-looking information are based on management of the
parties' reasonable assumptions, estimates, expectations, analyses
and opinions, which are based on such management's experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be
incorrect.
Such factors, among other things, include: impacts arising
from the global disruption caused by the Covid-19 coronavirus
outbreak, business integration risks; fluctuations in general
macroeconomic conditions; fluctuations in securities markets;
fluctuations in spot and forward prices of gold or certain other
commodities; change in national and local government, legislation,
taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of
mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
formations pressures, cave-ins and flooding); discrepancies between
actual and estimated metallurgical recoveries; inability to obtain
adequate insurance to cover risks and hazards; the presence of laws
and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and
indigenous populations; availability of increasing costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government
authorities); and title to properties.
Great Bear undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on information currently available. No forward-looking
statement can be guaranteed and actual future results may vary
materially. Accordingly, readers are advised not to place undue
reliance on forward-looking statements or information.
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SOURCE Great Bear Resources Ltd.