VANCOUVER, British Columbia December 15th, 2023 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed its 2023 exploration program at its Keymet Precious Metal – Base Metal Property, located in northeast New Brunswick. The program consisted of prospecting and rock – soil geochemical sampling. The work was conducted in the northwest and west-central regions of the property. The work in the west-central region focused on a new target area which was identified during the 2021-2022 exploration programs where soil and rock samples yielded anomalous gold values. Analyses are pending for 2023 rock and soil samples.
The 2023 work in the west-central region of the Keymet Property was completed within and west of an area of gold soil anomalies and glacial float and outcrop with anomalous levels of gold identified by Great Atlantic during the 2021 and 2022 programs. Forty-one soil samples were collected during the 2023 program along two northwest-southeast traverses to determine if gold soil anomalies exist further west-southwest of the 2021 and 2022 soil sample lines. Twelve rock samples were collected in this region during 2023 from outcrop and glacially transported float, primarily to further test for gold mineralization. Great Atlantic plans to submit the samples before the end of 2023 to a certified laboratory (independent of Great Atlantic) for gold and multi-element analysis.
Great Atlantic’s 2021 and 2022 programs defined a zone of gold soil anomalies in the west-central region of the Keymet Property approximately 200 meters by 200-500 meters of which 39 of 44 samples from this zone returned anomalous values of 5-67 parts per billion (ppb) gold (see Company news release of March 23, 2023). Three rock samples collected during 2022 approximately 350 meters west of the area of 2021-2022 soil sampling returned 0.63 grams / tonne (g/t) gold, 0.98 g/t gold and 1.83 g/t gold (see Company news release of December 1, 2022). These samples were collected from glacial float and outcrop. Company Management have found no reports of diamond drilling within this target area. The 2021-2022 soil and rock samples were analysed by ALS Canada Ltd.
Prospecting and rock geochemical sampling was also conducted during 2023 in the northwest region of the Keymet Property. Thirteen rock samples were collected in this region from outcrop and glacial float. The samples were collected primarily to test for precious metal and base metal mineralization northwest of the historic Keymet Mine. The samples have been submitted to ALS Canada Ltd. for gold analysis (by fire assay – AA) and for multi-element analysis (four acid digestion and ICP-AES analysis). The analytical results are pending for these samples. ALS Canada Ltd. is independent of Great Atlantic.
The historic Keymet Mine, located in the northwest region of the Keymet Property, operated during the mid-1950s, producing lead, zinc, copper and silver. Production at this mine was terminated in 1956 due to a fire at the site. The Company has located gold bearing float and gold bearing bedrock and polymetallic veins containing high grade zinc, copper and silver this region of the property (see the Company’s News Releases for results of this work).
Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property. These deposits are referred to as the West Gabbro Zone, South Gold Zone and Discovery Zone (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database; and Murahwi et al., 2011). Great Atlantic has no interest in these deposits. Readers are warned that mineralization at the West Gabbro Zone, South Gold Zone and Discovery Zone is not necessarily indicative of mineralization on the Keymet Property.
The Keymet property covers an area of approximately 3,340 hectares and is 100% owned by the Company. Access to the property is excellent with paved roads transecting the property, including a provincial highway.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release. Historic results stated on the Keymet Property map (stars 3, 4 and 5) in this news release have not been verified by a Qualified Person.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4