Vancouver, British Columbia--(Newsfile Corp. - October 20, 2017) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has completed a diamond drilling program at its Keymet Precious-Base Metal Property. The 3,400 hectare property, located approximately 20 kilometres northwest of Bathurst, in northeastern New Brunswick, Canada, has excellent access with paved roads, including a provincial highway, transecting the property.
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The Keymet property, site of the historic Keymet Mine, hosts multiple gold, silver, zinc, lead and copper occurrences.
The drill program, consisting of 5 holes totalling 679 metres, was conducted in the northwest region of the property, northwest of the historic Keymet Mine. The program tested the continuation of zinc, copper and silver bearing veins and a gold mineralization intersected by Great Atlantic during 2015 diamond drilling and trenching programs.
During 2015, Great Atlantic drilled 2 holes (2015-03 and 2015-04), approximately 1.4 kilometres from the Keymet Mine, in an area referred to as the Elmtree 12 occurrence. Hole 15-03 returned 16.68% zinc, 1.11% copper, and 152 grams per tonne silver over a 1.8 Metre Core Length, along with 3.28 grams per tonne gold over a 2.1 metre core length. Hole 15-04 returned 8.68% zinc and 44.8 grams per tonne silver over a 4.28 metre core length at about 90 metres into the hole, and approximately 35 metres vertically under the main vein intersected in hole 15-03.
In the 1980s, closed-spaced drilling by previous operators intersected near-surface mineralized veins in the area of the Elmtree 12 base metal and silver bearing vein occurrence. A 0.88 metre core length from 1981 reported 11.36% zinc, 7.72% copper, and 13.6 ounces per ton silver. In 1989, a 1.22 metre core length sample from a near-by drill hole reported 10.11% zinc, 16.4% copper, and 31 ounces per ton silver.
These drill intersections were within a 50 metre vertical depth.
|Great Atlantic||Hole 2015-03*||16.68%||1.11%||152 gpt||1.8 metres|
|Great Atlantic||Hole 2015-04||8.68%||0.29%||44.8 gpt||4.28 metres|
|Previous||1981 Hole||11.36%||7.72%||13.6 ounces per ton||0.88 metres|
|Previous||1989 Hole||10.11%||16.4%||31 ounces per ton||1.22 metres|
|* Included 3.28 grams per tonne gold over a 2.1 metre core length|
Each of the 5 new drill holes intersected veins with copper, lead and zinc sulfide mineralization, with arsenopyrite mineralization observed in 3 of these holes.
Holes Ky-17-5, 6, 7 and 9 were drilled near the 2015 holes Ky-15-3 and 4. All 4 holes intersected base metal bearing veins.
All holes to date have been within an approximately 70 metre strike length and shallow, less than 100 metres in vertical depth. Hole Ky-17-8, located approximately 80 metres southwest, tested the down-dip extension of a gold bearing zone discovered in a 2015 trench, where channel samples returned 1.1 grams per tonne gold over 4.9 metres. The company is awaiting results from this current drill program.
A grab sample taken in 2015 from a fault zone returned 8.99% lead, 1.76% zinc, 0.80% copper and 237 grams per tonne silver.
Christopher R Anderson, CEO, stated: "We are very encouraged by this year's drill program and are enthusiastically awaiting all the results, but particularly interested in the unexpected arsenopyrite within a 50 meter core length interval in hole Ky-17-6. Traditionally arsenopyrite has carried Gold on this property. As well we want to say a special thanks to Don and the guys at Orbit Garant Drilling, excellent job."
The shares are trading at $0.135 and with 33.7 million shares outstanding, the company is capitalized at $4.5 million.
For more information, please visit the company's website www.greatatlanticresources.com. Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email [email protected]
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