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Great Atlantic Resources Corp (3)
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Close 2020-06-23 C$ 0.36
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Great Atlantic Resources begins exploration at Keymet

2020-06-25 11:30 ET - News Release

Mr. Christopher Anderson reports


Great Atlantic Resources Corp. has begun the 2020 exploration program at its Keymet precious metal/base metal property, located in northeastern New Brunswick. The 2020 program will focus on gold exploration in the southwest to central regions of the property. The Company has identified exploration targets in these regions based on historical work. Reported historic highlights in these regions include a reported trench chip sample of 2.5 grams / tonne (g/t) gold over 6.1 meters length, rock grab samples up to 4.3 g/t gold and soil samples of 217 and 325 parts per billion (ppb).

The Company has commenced prospecting and rock - soil geochemical sampling in the southwest to central regions of the Keymet Property to define trenching and drilling targets. Geophysical surveys are also planned for these regions during 2020 to further define exploration targets. Company management have evaluated historical public records and have identified targets for focused 2020 gold exploration in these regions of the property. Reported historical highlights for these regions 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 Gold 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 two 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: March 4, 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;
  • WGZ Inferred Resources: 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 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. Planned work in the northwest region of the property include prospecting, rock - soil geochemical sampling and geophysical surveys to define trenching and drilling targets. The southwest - central regions 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, PGeo, 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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