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.
Anticipation is building as Great Bear Resources (TSX: GBR) works feverishly to deliver its first resource estimate in the New Year on the Dixie project in northwestern Ontario — one of the most important Red Lake Camp gold discoveries in recent history.
Great Bear’s flagship property is the 100% owned Dixie project, consisting of 9,140 hectares of contiguous claims extending over 22 kilometres. The project is accessible year-round by highway and is close to significant infrastructure, including paved roads, electricity and a natural gas pipeline provided by the town of Red Lake, about 25 km to the northwest.
From 2017 to 2019, Great Bear’s primary focus was on the Dixie Limb and Hinge zones. This work resulted in discovering the Hinge Zone and several high-grade intercepts being drilled within both targets.
The company has also verified the gold continuity in these targets.
The story got fascinating in 2019, when Great Bear made several new high-grade gold discoveries, the Bear-Rimini, Yuma, Auro, Yauro, Viggo and Gap zones. These discovery areas have since been confirmed through drilling to entail a large, continuous zone of gold mineralization, now known as the LP Fault zone.
June marked the second anniversary of the discovery of the LP Fault, which has now been tested with over 400 drill holes.
(Continue reading at The Northern Miner)
