Great Atlantic Receives Diamond Drilling Permit Keymet Precious – Base Metal Property. Bathurst, New Brunswick
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
VANCOUVER, British Columbia – September 19, 2017 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received a diamond drilling permit from the New Brunswick Dept. of Energy and Mines for its Keymet Precious – Base Metal Property, located in northeast New Brunswick. The Company is planning drilling beginning in mid-September in the northwest region of the property. The Keymet property, located approximately 20 kilometres northwest of Bathurst, hosts multiple gold, silver, zinc, lead and / or copper occurrences including the Keymet deposit, site of the historic Keymet Mine. Drilling will further test an area of reported zinc, lead, copper and silver bearing vein(s) including 2015 Great Atlantic drill intersections (16.7 % zinc and 152 g/t silver over 1.8 meter core length and 8.7% zinc over 4.28 meter core length) and a near-by gold bearing zone discovered by the Company in a 2015 trench (1.1 g/t gold over 4.9 meters in channel sampling).
The drilling program is planned for the northwest region of the Keymet Property, a priority area for the Company. The program will be a minimum of 500 metres. Multiple base metal and silver bearing vein occurrences are reported in this region, including the historic Keymet Mine which operated during the 1950s. The drilling program will further test one of these vein occurrences, referred to as the Elmtree 12 vein occurrences. Gold bearing boulders and gold bearing zones in trench bedrock are also documented in this region of the property. The drilling program will test one such gold zone.
Historic Keymet Mine (1950s)
The Elmtree 12 base metal and silver bearing vein occurrence is located approximately 1.4 kilometres northwest of the historic Keymet Mine. Closed-spaced 1980s diamond drill holes (Brunswick Mining and Smelting and Aurtec Inc.) intersected near-surface mineralized veins in this area. A 0.88 metre core length interval from a 1981 drill hole was reported to grade 7.72% Cu, 11.36% Zn and 13.6 ounces per ton Ag. A 1.22 metre core length sample from a near-by 1989 drill hole was reported to assay 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The true width of these intersections is unknown. These drill intersections are within 50 metre vertical depth. During 2015, Great Atlantic conducted trenching in the area of these reported 1980s drill holes. One trench exposed a northwest striking mineralized vein approximately above the reported 1980s drill intersections. A 0.5 metre channel samples across the vein returned 1.52% zinc, 1.94% copper and 308 g/t silver.
During 2015 Great Atlantic drilled two holes (Ky-15-3 and Ky-15-4) in the area of the 2015 trench and the 1980s holes. These holes were also collared within a zone of gold bearing silicified sedimentary boulders previously discovered by the Company (boulder assays reported up to 51 grams per tonne Au.). The zone of gold-bearing boulders extends west of these two holes in the reported up-ice glacial direction. Both holes intersected base metal and silver bearing veins and local gold mineralization.
Zinc, copper and silver bearing vein in 2015
Trench at Elmtree 12 Vein Occurrence
Both Ky-15-3 and Ky-15-4 were drilled from the same set-up to the northeast (050 degree azimuth) approximately under the previous 2015 trench and from the opposite direction as the reported 1980s holes. Ky-15-3 was drilled at a 45 degree angle and intersected sphalerite – rich veins at 60.80 – 62.60 metres (returning 16.68% zinc, 1.11% copper and 152.0 g/t silver over a 1.80 metre core length). Ky-15-4 was drilled at a 60 degree dip on the same azimuth to intersect the veins deeper. Multiple sphalerite bearing veins were intersected in this hole at 90.07 – 94.35 metres (returning 8.68% zinc and 44.8 g/t silver Ag over 4.28 metre core length), approximately 35 metres vertically under the main vein intersected in Ky-15-3. Hole Ky-15-3 intersected a gold bearing interval, with a sample at 30.10 – 32.20 meters (2.1 meter core length) returning 3.28 g/t gold. The true width of these initial 2015 drill intersections is unknown at this time.
Drilling is planned during September 2017 on either side of holes Ky-15-3 and Ky-15-4 testing the continuation of the zinc, copper and silver bearing veins along strike and testing the continuation of the gold bearing zone intersected in Ky-15-3.
Drilling is also planned during the September program under a gold bearing zone exposed during a 2015 trench southwest of holes Ky-15-3 and Ky-15-4. Channel samples from a zone of altered sediments returned 1.11 g/t gold over a 4.9 metre total length. The channel samples were orientated east-west parallel to the trench direction. The orientation of this gold bearing zone has not been determined. This gold bearing zone is approximately 80 metres southwest of the collars of holes Ky-15-3 and Ky-15-4.
Zinc (sphalerite) – bearing carbonate vein in Ky-15-4.
Access to the property is excellent with paved roads transecting the property, including a provincial highway. The property covers an area of approximately 3,400 hectares.
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.
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.