Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Great Bear Resources (TSX: GBR) has traced gold mineralization along a 4.2-km long stretch of the LP fault at its 91-sq.-km Dixie gold project in Ontario. The company now plans to test a 5-km section of this 18-km structure down to a depth of 500 metres, to cover a 2.5 sq. km panel.
Drill highlights from the latest release include:
“We now interpret a continuous gold-mineralized zone along more than four kilometres of strike length of the LP fault, which remains open to extension,” Chris Taylor, the company’s president and CEO said in a release. “Assay results, geology and oriented structural data suggest the zone hosts steeply-dipping ‘sheets’ of disseminated, high-grade gold mineralization with significant strike length and vertical extent.”
All 59 holes completed by Great Bear are along the 4.2-km section of the LP fault intersected mineralization, which remains open on strike and at depth.
Up to 300 holes are planned for this year along the 5-km panel as part of Great Bear’s fully-funded C$21 million exploration program. Four rigs are currently drilling along the LP fault with a fifth rig mobilized for regional exploration, testing new targets at Dixie and stepping out along the prospective structure.
Great Bear initially acquired the Dixie project in 2015 and consolidated its interest to 100% in 2017.
(This article first appeared in the Canadian Mining Journal)
