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Great Atlantic Resources Corp (3)
Symbol GR
Shares Issued 9,054,464
Close 2020-05-13 C$ 0.49
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Great Atlantic Resources plans exploration at Keymet

2020-05-14 13:58 ET - News Release

Mr. Christopher Anderson reports


Great Atlantic Resources Corp. is planning exploration during 2020 at its Keymet precious metal/base metal property, located in northeastern New Brunswick. The program, planned to begin this spring, will focus on gold exploration in the southwest region of the property. The Company has identified exploration targets in this region based on historical work. Reported historic highlights in this region include a reported trench chip sample of 2.5 grams per tonne (g/t) gold over 6.1 meters length and reported soil samples of 217 and 325 parts per billion (ppb).

Company management have evaluated historical public records and have identified targets for focused 2020 gold exploration in the southwest region of the Keymet Property.

Gold soil geochemical anomalies and gold bearing rock samples are reported within the southwest region of the Keymet Property. A gold occurrence referred to as the Alcida East occurrence is reported in this region of the property. Reported historical highlights for this region include:

  • 2.5 grams / tonne (g/t) gold over 6.1 meters and 1.9 g/t gold over 1.5 metes in historical trench (1980s).
  • 3.3 g/t gold over 0.60 meters in historical trench and 4.3 g/t gold in grab sample (Alcida East occurrence).
  • Gold soil geochemical anomalies were reported during 2005, including reported high values for gold of 217 and 325 ppb.

Three gold deposits with reported mineral resources are reported west of the southwest region of the Keymet Property within adjacent mineral claims. Great Atlantic has no interest in these adjacent mineral claims. These deposits, referred to as the West Gabbro Zone, Discovery Zone and South Gold Zone, are reported within 2 kilometers of the Keymet Property southwest boundary.

Micon International Limited reported 43-101 compliant mineral resources for the West Gabbro Zone (WGZ), South Gold Zone (SGZ) and Discovery Zone (DZ) in Technical Report on the Mineral Resource Estimate for the Elmtree Gold Property (Effective Date: 4 March 2011) for CNRP Mining Inc. and Gorilla Resources Corp. The reported resources include:

  • WGZ: Indicated Resources: 1,611,000 tonnes at 1.91 g/t gold and 2,053,000 tonnes at 1.67 g/t gold
  • SGZ: Inferred Resources: 2,237,000 tonnes at 0.74 g/t gold
  • DZ: Inferred Resources: 741,000 tonnes at 1.18 g/t gold

As reported by Micon International Limited, the resources were estimated using a three-dimensional block modelling approach. For each mineralized zone, wireframe models were built up from intersected geologic limits. Grade interpolation for the WGZ was conducted using the inverse distance cubed technique while interpolations for the DZ and SGZ were conducted using the nearest neighbour technique due to limited drill hole information. The cut-off grade used was 0.5 g/t gold.

Readers are warned that mineralization at the West Gabbro Zone, South Gold Zone and Discovery Zone on adjacent mineral claims west of the Company's Kemet Property is not necessarily indicative of mineralization on the Keymet Property.

Great Atlantic is also planning exploration during 2020, beginning this spring in the northwest region of the Keymet Property with the focus being gold. Since acquiring the property, the Company has discovered gold bearing float and gold in bedrock (in drill holes and trenches) in this region of the property as well as veins containing high grade zinc, lead, copper and / or silver (see news releases on the Company's website). This included high grade gold in one boulder sample, which returned 51 g/t gold.

Great Atlantic is planning prospecting, rock / soil geochemical sampling and geophysics surveys in the southwest and northwest regions of the property during 2020 to identify targets for trenching and diamond drilling. The southwest region will be the main focus during 2020.

The Keymet Property hosts the historic Keymet Mine, located in the northwest region of the property. The Keymet Mine operated during the mid-1950s, producing copper, lead, zinc and silver. Production at this mine was terminated due to a fire at the site.

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 records 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.

Access to the Keymet Property is excellent with paved roads transecting the property, including a provincial highway. The property covers an area of approximately 3,400 hectares and is 100% owned by the Company.

About Great Atlantic Resources Corp.

Great Atlantic Resources 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.

We seek Safe Harbor.

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