Great Atlantic 2017 Drilling to Target High Grade Zinc
Previous, 16.68% Zn, 8.68% Zn, 11.36% Zn, and 10.11% Zn
Keymet Project, Bathurst Mining Camp, New Brunswick, Canada
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
(FRA: PH01) (OTCBB: PRZCF)
Elmtree 12 Vein System Bathurst
|Great Atlantic||Hole 2015 – 03||16.68% Zn||1.11% Cu||152 g/t Ag||Over 1.8 M|
|Great Atlantic||Hole 2015 – 04||8.68 % Zn||.29% Cu||44.8 g/t Ag||Over 4.28 M|
|Previous||1981 Hole||11.36 % Zn||7.72 % Cu||13.6 Oz Ag||Over .88 M|
|Previous||1989 Hole||10.11% Zn||16.4 % Cu||31 Oz Ag||Over 1.22 M|
|Great Atlantic||Hole 2015 – 03||3.28 g/t Gold||Over 2.1 M|
|Great Atlantic||Sedimentary boulders 2012||Samples Upto||51 g/t Gold|
2017 Drilling Permit in place
VANCOUVER, British Columbia – January 23, 2017 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has reviewed historic and Company data in re-evaluating base and precious metal potential at its Keymet Property, northeast New Brunswick. The Keymet property is located approximately 20 kilometres northwest of Bathurst and covers an area of approximately 3400 hectares. The property hosts multiple gold, silver, copper, lead and / or zinc occurrences including the Keymet deposit, site of the historic Keymet Mine, located in the northwest region of the property. Base metal and silver bearing veins were mined at the Keymet Mine during the 1950s.
Great Atlantic’s management have defined a target area in the northwest region of the property northwest of the Keymet deposit as a priority for the next phase of exploration, planned for 2017. This is the area of the Elmtree 12 copper, lead, zinc and silver vein occurrence and gold bearing boulders. Two diamond drill holes were completed by the Company in this area during late 2015, targeting the Elmtree 12 vein system and area of gold bearing altered sedimentary boulders (News Release filed on February 23, 2016). Both holes intersected near-surface mineralized veins (containing sphalerite, galena and chalcopyrite cutting sedimentary rocks), interpreted by Company management to be the Elmtree 12 vein system. Drill hole Ky-15-03 intersected 16.68% Zn, 1.11% Cu and 152.0 g/t Ag over 1.80 metre core length. Drill hole Ky-15-04 intersected 8.68% Zn, 0.29% Cu and 44.8 g/t Ag over 4.28 metre core length approximately vertically under the high grade vein of Ky-15-03. Both intersections are within 100 metre vertical depth. A gold bearing zone was also intersected in Ky-15-3, returning 3.28 g/t Au over 2.1 metre core length.
Drill holes Ky-15-3 and Ky-15-4 were also in the area of historic 1980s diamond drill holes (by Brunswick Mining and Smelting and Aurtec Inc.) and a 2015 Great Atlantic trench. The 1980s holes reportedly intersected near-surface high grade mineralized veins, representing the Elmtree 12 vein system. These intersections include a 0.88 metre core length interval from a 1981 drill hole reported to grade 7.72% Cu, 11.36% Zn and 13.6 ounces per ton Ag and a 1.22 metre core length sample from a near-by 1989 drill hole reported to return 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The summer 2015 trenching program by Great Atlantic exposed a northwest striking, sub-vertical base metal and silver bearing vein approximately above the 1980s and 2015 drill intersections.
Sphalerite – carbonate veins in Ky-15-4
Previous 2011 and 2012 prospecting by Great Atlantic established gold potential in the area of the Elmtree 12 occurrence. Samples of altered sedimentary boulders from this target area were reported to return up to 51g/t Au. The zone of gold-bearing boulders extends west of the area of drill holes Ky-15-3 and Ky-15-4. Company management believe the main source of these boulders to be further west of these boulders in the reported up-ice glacial direction.
Christopher R Anderson, President, CEO and Director of Great Atlantic, stated “the area of reported Elmtree 12 base metal and silver bearing vein system and adjacent zone of gold bearing boulders is a high priority target area for Great Atlantic. The 2015 drill program confirmed the vein system to contain high grade zinc while also containing significant levels of copper and silver. The historic drill data indicate local high grade copper and silver as well in this vein system. Planned diamond drilling in 2017 will be designed to test the vein system along strike and deeper while also testing the area of gold bearing boulders. We know these base metal and silver vein systems can extend to significant depths based on historic development at the Keymet Mine and nearby Nigadoo Mine where development at each exceeded 300 metre depth.”
Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
Historic Keymet Mine (1950s)
Great Atlantic has the option to acquire 100% interest in the property from a local prospector. Access to the property is excellent with paved roads transecting the property, including a provincial highway.
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, Antimony, Tungsten and Gold.
On Behalf of the board of directors
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