B2Gold Corp. press release
Great Bear Confirms Stacked Silver Rich Massive Sulphide and Extends the Strike Length of Mineralized System at BA Claims
TSX - Toronto Stock Exchange · Gold · Canada
Jun. 30, 2010 (TheNewswire.ca) --
Great Bear Resources Ltd. ("Great Bear")(CNSX:GBR) is pleased to announce that field investigations have identified sediment units with vocanogenic massive sulphide ("VMS") mineralization up to 1 kilometre north of the Main Zone at the BA project near Stewart, BC. Host rocks are similar to those in the Main Zone at BA.
Historic work in this area previously identified hand samples grading up to 132.8 g/t silver, 2.18% lead and 11.6% zinc. The new area, termed the "North Extension" will be drill tested during the 2010 drill program. These results confirm that the BA mineralization occurs over a much wider area than the 600 metre strike length of the Main Zone, and is now observed over a total distance of 1500 metres. The target horizons in the North Extension are traceable in outcrop exposures and demonstrate three visible VMS horizons.
Ten diamond drill holes have now been completed into the Main Zone. Assay results from drilling and prospecting are pending. A 200 square kilometre airborne VTEM geophysical survey operated by Geotech Ltd. is currently being flown and is now 86% complete.
The BA Project
As previously announced, Great Bear has entered into an Option and Joint Venture Agreement with Mountain Boy Minerals Ltd. (TSXV:MTB) (TSXV- MTB) to earn a 50% interest in the BA project by spending $5.5 M over four years, and can earn an additional 20% interest, for a total of 70%, by completing a Bankable Feasibility Study on or before December 31, 2015. Great Bear has also entered into an Option Agreement with Pinnacle Mines Ltd. ("Pinnacle")(TSXV: PCL) for the 100% acquisition of Pinnacle's Surprise Creek claims located immediately north of the BA project. In order to acquire the claims, the Company must pay $150,000 and issue 700,000 common shares by May 25th, 2012.
The BA Project hosts a silver rich volcanogenic massive sulphide (VMS) system that has been drill confirmed for 600 meters of mineralized strike and down dip for 300 meters. The discovery is open for expansion in all directions. 62 of 90 drill holes into the Main Zone at BA have returned in excess of 2 oz silver over drill indicated widths of 3 to 134 metres with significant associated lead - zinc mineralization.
Mr. Chris Taylor, M.Sc. P.Geo, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.
For further information please contact Mr. Archie Nesbitt, President or Mr. Chris Taylor, P.Geo., Vice President Exploration at 604-681-0037.
ON BEHALF OF THE BOARD Investor Relations
Phone: 1.877-681-0037
Fax: 604.681.0094
"Archie Nesbitt" info@greatbearresources.ca
www.greatbearresources.ca
Archie Nesbitt, President and CEO
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