Vancouver, British Columbia--(Newsfile Corp. - March 21, 2018) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has made the final option payment for 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. This property is approximately 4 kilometres north of the historic Nigadoo River Mine, which produced copper, lead, zinc and silver from polymetallic veins during the 1960s and 1970s.
The company recently intersected mineralized veins northwest of the historic Keymet Mine including an intersection of 18.8% zinc, 3.55% copper, 1.16% lead, and 576 grams per tonne silver over a 1.27 metre core length in a newly discovered vein in Ky-17-8.
Ky-17-6 returned 3.54% zinc, 0.92% copper and 115 grams per tonne silver over a 12.05 metre core length, plus 0.64 grams per tonne gold over a 19.96 metre core length in a newly discovered gold bearing zone.
1.11 grams per tonne gold over 4.9 metres were reported in a trench channel samples vertically above drill hole Ky-17-8. This table also includes highlights from earlier drill holes.
| Hole # | From (metres) | To (metres) | Length (metres) | Zinc % | Lead % | Copper % | Silver gpt |
| Ky-15-3 | 1.80 | 16.68 | 1.11 | 152 | |||
| Ky-15-4 | 4.28 | 8.68 | 0.29 | 44.8 | |||
| Ky-17-5 | 81.00 | 81.80 | .80 | 13.65 | 0.45 | 1.20 | 166 |
| Ky-17-6 | 119.45 | 131.50 | 12.05 | 3.54 | 0.28 | 0.92 | 115.6 |
| Ky-17-8 | 31.00 | 32.27 | 1.27 | 18.8 | 1.16 | 3.55 | 576 |
Since acquiring the Keymet Property, the company has focused on the northwest region of the property. At least 7 vein occurrences with lead, zinc, frequently with copper, silver and gold have been reported in this region of the property in addition to the polymetallic veins reported at the historic Keymet Mine. Great Atlantic has explored 2 of these vein occurrences, the Elmtree Silver Mine veins and adjacent areas, northwest of the historic Keymet Mine, which operated during the mid-1950s, producing copper, lead, zinc and silver, until production was terminated due to a fire.
A 20 metre deep shaft was located at the Elmtree Silver Mine vein. Trenching at the Elmtree 12 vein occurrence also exposed such polymetallic veins. The 2017 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. Each of the 2017 holes intersected veins containing base metal sulfides and local disseminated arsenopyrite mineralization.
Previous assays from the first 2 holes with highlights including 7.59% zinc equivalency consisting of 3.54% zinc, 0.92% copper, 0.28% lead, and 115.6 grams per tonne silver, over 12.05 metres in hole Ky-17-6, along with the discovery of a new gold bearing zone of 0.64 grams per tonne gold over 19.96 metres in hole Ky-17-6.
Diamond drilling to date by the Company has been shallow with all but one hole less than 100 meter vertical depth and one hole to approximately 170 meter vertical depth. Planned 2018 diamond drilling will test both the Elmtree 12 vein system and newly discovered vein in Ky-17-8 along strike and at depth. Drilling is also planned to test the continuation of the newly discovered gold zone intersected in hole Ky-17-6.
Arsenopyrite bearing metasediment boulder samples collected by Company prospectors in 2011 approximately 1.5 kilometres northwest of the historic Keymet Mine were reported to return up to 51 grams per tonne gold. A historic mineral resource estimate for the Elmtree gold deposits was reported in 2011 with 294,000 ounces of gold in the indicated and inferred categories reported using a 0.5 gram per tonne gold cutoff.
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 info@kayewynn.com
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