Drilling Results Keymet 35.4% Zinc Equivalent Over 1.27 Meters In New Vein Discovery, Bathurst, New Brunswick

 

Great Atlantic Drilling Results Keymet

 35.4% Zinc Equivalent Over 1.27 Meters

In New Vein Discovery,

Bathurst, New Brunswick

_________________________________________________________

FOCUSED ON EXPLORING ATLANTIC CANADA

(TSXV : GR)

(FRA: PH01)

 

VANCOUVER, British Columbia – March 2, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analytical results for the final batch of drill core samples from the recent diamond drilling program at its Keymet Precious – Base Metal Property, located near Bathurst, northeast New Brunswick. The drilling program consisted of 5 holes (totalling 679 meters) and was conducted in the northwest region of the property. The analytical results received are for core samples from the final three holes (Ky-17-7 to Ky-17-9) of the program.  Highlights include the discovery of a new high grade vein in Ky-17-8 returning  18.80% Zn, 3.55% Cu, 1.16% Pb and 576 grams / tonne (g/t) Ag over 1.27 meter core length (including 26.0% Zn, 5.13% Cu, 1.36% Pb and 834 g/t Ag over 0.87 meter core length).

Zinc, copper, lead and silver bearing vein material in Ky-17-8.

The Keymet Property hosts multiple gold, silver, zinc, lead and / or copper occurrences and the Keymet deposit, site of the historic Keymet Mine.

 

The 2017 diamond drilling program was conducted in the northwest region of the property northwest of the historic Keymet Mine, testing the continuation of zinc, copper, lead and silver bearing veins (Elmtree 12 vein system) and gold mineralization intersected by Great Atlantic during 2015 diamond drilling and trenching programs. Each of the 2017 holes intersected veins containing base metal sulfides and local disseminated arsenopyrite mineralization. Gold mineralization on the property is associated with arsenopyrite. Drill core samples from the 2017 drilling program were submitted to ALS Canada Ltd. (independent of Great Atlantic) in Sudbury, Ontario for analysis. Sample data from this program was verified by a Qualified Person. A Qualified Person supervised the 2017 diamond drilling program.

 

The Company previously received analyses for samples from holes Ky-17-5 and Ky-17-6, the first two holes in the 2017 program which were drilled at the Elmtree 12 vein system. The highlights from these two holes included 7.59%  Zinc Equivalent (Zn Eq.) over 12.05 meter core length (3.54% Zn, 0.28% Pb, 0.92% Cu and 115.6 g/t Au over 12.05m core length) and 0.64 g/t Au over 19.96 meter core length in hole Ky-17-6 (News Release of December 20, 2017). The Zn Eq. reported for Ky-17-6 was based on metal prices of Zinc US$3,182 / tonne (US$1.44 / lb.), Lead US$2,509 / tonne (US$1.14 / lb.), Copper US$6,734 / tonne (US$3.05 / lb.) and Silver US$16.03 per troy ounce with metal recoveries of 100% being applied in the metal equivalent calculations. The Zn Eq. calculation used was Zn Eq. = 100 x ((Ag Price in grams x Ag Grade) + (Pb Price x 2204.6 x Pb Grade (%) / 100) + (Cu Price x 2204.6 x Cu Grade (%) / 100) + (Zn Price x 2204.6 x Zn Grade (%) / 100)) / Zn Price x 2204.6.

 

The recently received drill core analyses are for holes Ky-17-7 to Ky-17-9. Holes 7 and 9 were drilled at the Elmtree 12 vein system while nearby 8 tested a gold bearing zone discovered during 2015 trenching. Significant intersections from these holes are listed in the following table:

 

 

1. True widths are not known at this time.
2. Zinc equivalent grades (Zn Eq. (%)) are based on the following metal prices: Zinc US$3,512 / tonne (US$1.60 / lb.), Lead US$2,578 / tonne (US$1.17 / lb.), Copper US$7,065 / tonne (US$3.21 / lb.) and Silver US$16.44 per troy ounce. Metal recoveries of 100% were applied in the metal equivalent calculations. The zinc equivalent calculation is as follows: Zn Eq. = 100 x ((Ag Price in grams x Ag Grade) + (Pb Price x 2204.6 x Pb Grade (%) / 100) + (Cu Price x 2204.6 x Cu Grade (%) / 100) + (Zn Price x 2204.6 x Zn Grade (%) / 100)) / Zn Price x 2204.6.

 

Holes Ky-17-5, 6, 7 and 9 were drilled in the same area as 2015 holes Ky-15-3 and 4,  approximately 1.4 kilometers northwest of the historic Keymet Mine, in an area referred to as the Elmtree 12 occurrence. Both 2015 holes intersected base metal and silver bearing veins (including 16.68% Zn, 1.11% Cu and 152.0 g/t Ag over 1.80 meter core length in Ky-15-3 and 8.68% Zn and 44.8 g/t Ag over 4.28 meter core length in Ky-15-4). Hole Ky-15-3 also intersected a gold bearing interval (3.28 g/t Au over2.1 meter core length). The true width of these initial 2015 drill intersections is unknown at this time. A Qualified Person verified the 2015 drill core sample data and supervised the 2015 drilling program. The 2017 program tested the continuation of this base metal and precious metal mineralization. Each of the 2017 holes in this area intersected veins with base metal sulfides. Company management are interpreting the main veins in this target area to be within a steep dipping to vertical vein system striking approximately north – south, with all Great Atlantic drill intersections to date being within an approximately 70 meter strike length and shallow depth (above 100 meter vertical depth).

 

Closed-spaced 1980s diamond drill holes (Brunswick Mining and Smelting and Aurtec Inc.) reported in the area of holes Ky-15-3, 4, Ky-17-5, 6, 7 and 9 reportedly intersected near-surface mineralized veins (Elmtree 12 vein occurrence). A 0.88 metre core length interval from a 1981 drill hole was reported to return 7.72% Cu, 11.36% Zn an 13.6 ounces per ton Ag. A 1.22 metre core length sample from a near-by 1989 drill hole was reported to return 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The true width of these intersections is unknown. These reported drill intersections are within 50 metre vertical depth. A qualified person has not verified this historic data. Great Atlantic personnel found loose casing in this area during 2015. It is uncertain which historic hole this represents.

 

Hole Ky-17-8, located approximately 80 meters southwest of holes Ky-17-5, 6 and 7, tested the down-dip extension of a gold bearing zone discovered by the Company in a 2015 trench (channel samples returning 1.1 g/t Au over 4.9 meters). The gold bearing zone in the trench is characterized by minor arsenopyrite in metasediments and increased quartz veining. Intermittent anomalous gold was intersected in the drill hole under the gold zone in the trench. A fault zone is also exposed in the trench hosting base metal and silver mineralization. It is unclear at the moment of the relationship of the high grade vein intersected in this hole and the fault zone. The fault zone appears to have been intersected slightly deeper in this hole at 41.1 – 43.5m.

At ALS the 2017 drill core samples were crushed to 90% less than 2 millimeters with a 1kilgram split sample pulverized to 95% less than 106 microns. The pulverized samples were analyzed for gold by Fire Assay – Atomic Absorption and for 33 elements (including copper, lead, zinc and silver) by Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES). ALS also analyzed blank, standard and duplicate samples.

 

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 1980s 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 and VP Exploration for Great Atlantic, 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

“Christopher R Anderson”

Mr. Christopher R Anderson

” Always be positive, strive for solutions, and never give up ”

President CEO Director

604-488-3900 – Dir

 

Investor Relations:

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E-mail: info@kayewynn.com

 

 

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.