Vancouver, British Columbia (FSCwire) - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has made the final option payment for its Keymet Precious - Base Metal Property, located near Bathurst, northeast New Brunswick. The property is reported to host numerous base metal – precious metal bearing veins including the historic Keymet Mine. The Company recently intersected mineralized veins northwest of the historic Keymet Mine including an intersection of 18.80% Zn, 3.55% Cu, 1.16 % Pb and 576 grams / tonne (g/t) Ag over 1.27 meters core length in a newly discovered vein and 3.54% Zn, 0.92% Cu and 115 g/t Ag over 12.05 meter core length plus 0.64 g/t Au over 19.96 meter core length in a newly discovered gold bearing zone (News Releases of December 20, 2017 and March 2, 2018). The Keymet Property is approximately 4 km north of the historic Nigadoo River Mine of which copper, lead, zinc and silver production from polymetallic veins occurred during the 1960s – 1970s.

 

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The Company’s focus since acquiring the Keymet Property has been the northwest region of the property. At least seven vein occurrences with lead, zinc and +/- copper, silver and gold are reported in this region of the property in addition to the polymetallic veins reported at the historic Keymet Mine (source: New Brunswick Dept. of Energy and Resource Development Mineral Occurrence Database). 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.

 

Great Atlantic has explored two of these vein occurrences, the Elmtree 12 and Elmtree Silver Mine veins and adjacent areas, northwest of the historic Keymet Mine. A 20 meter deep shaft is reported at the Elmtree Silver Mine vein. A Qualified Person has located this shaft for Great Atlantic. Great Atlantic has intersected copper, lead, zinc and silver bearing veins at both the Elmtree 12 and Elmtree Silver Mine vein occurrences during 2015 and 2017 diamond drilling programs (9 total holes) with more significant results at the Elmtree 12 vein occurrence. Trenching at the Elmtree 12 vein occurrence also exposed such polymetallic veins. Gold mineralization was also locally intersected in host meta-sedimentary rocks in the general area of the Elmtree 12 vein occurrence. Highlights of this work included (as reported in News Releases of October 29, 2015, February 23, 2016, December 20, 2017 and March 2, 2018):

 

• Ky-15-3 (Elmtree 12): 16.68% Zn, 1.11% Cu & 152 g/t Ag over 1.80 meter core length.
• Ky-15-4 (Elmtree 12):  8.68% Zn, 0.29% Cu & 44.8 g/t Ag over 4.28 meter core length.
• Ky-17-5 (Elmtree 12): 13.65% Zn, 1.20% Cu, 0.45% Pb & 166 g/t Ag over 0.80 meter core length.
• Ky-17-6 (Elmtree 12): 3.54% Zn, 0.92% Cu, 0.28% Pb & 115.6 g/t Ag over 12.05 meter core length & 0.64 g/t Au over 19.96 meter core length (newly discovered gold bearing zone).
• Ky-17-8: 18.80% Zn, 3.55% Cu, 1.16% Pb & 576 g/t Au over 1.27 meter core length (newly discovered polymetallic vein southwest of Elmtree 12 vein system).
• 1.11 g/t Au over 4.9 meters in trench channel samples (vertically above drill hole Ky-17-8).

 

Polymetallic vein in Ky-15-4 (8.68% Zn, 0.29% Cu & 44.8 g/t Ag over 4.28 meter core length)

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Polymetallic Vein in Ky-17-6 (3.54% Zn, 0.92% Cu, 0.28% Pb & 115.6 g/t Ag over 12.05 meter core length)

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Polymetallic Vein material in Ky-17-8 (18.80% Zn, 3.55% Cu, 1.16% Pb & 576 g/t Ag over 1.27 meter core length (new discovery in 2017)

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Copper, Zinc & Silver bearing vein in 2015 Trench (Elmtree 12 Vein System)

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A Qualified Person has verified this 2015 and 2017 exploration data for Great Atlantic. The Qualified Person managed the 2015 and 2017 exploration programs for Great Atlantic at the Keymet Property. True thickness of these intersections is unknown at this time.

 

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 km northwest of the historic Keymet Mine were reported to return up to 51 g/t Au (News Release of March 2, 2012). A Qualified Person has not verified this sample data. This is the general area of the Elmtree 12 vein occurrence.

 

Additional gold occurrences are reported within the Keymet Property as per the New Brunswick Dept. of Energy and Resource Development Mineral Occurrence Database.  Two of these gold occurrences are reported in the east region of the Keymet Property.  Another gold occurrence, referred to as the Alcida East occurrence, is reported in the west region of the property. Historic samples from the Alcida East occurrence are reported up to 4.3 g/t Au. Two additional gold occurrences are reported near the west boundary of the property, possibly being west of the Keymet Property. A Qualified Person has not verified any of these gold occurrences. The Company’s focus to data has been the northwest area of the property, northwest of the historic Keymet Mine

 

Significant precious metal – base metals deposits are reported within 4 km of the Keymet Property. The Elmtree gold deposits are located within 3 km west-southwest of the Keymet Property. A historic mineral resource estimate for the Elmtree gold deposits was reported in 2011 with 294,000 ounces of gold in the indicated + inferred categories reported (0.5 g/t Au cutoff) (source: Murahwi, et al., effective date March 4, 2011 for Micon International Limited, CNRP Mining Inc. and Gorilla Resources Corp.).

 

The historic Nigadoo River Mine is located approximately 4 km south of the Keymet Property. Polymetallic massive sulfide veins were mined at the Nigadoo River Mine during the 1960s and 1970s with copper, lead, zinc and silver being produced. The N.B Dept. of Energy and Resource Development Mineral Occurrence Database reports shaft depth and production totals at this historic mine. Production during 1967 – 1971 is reported as 1.126 million tonnes at 2.2% Pb, 2.1% Zn, 0.24% Cu and 92.57 g/t Ag. Production during 1973 – 1977 (after a 2 year closure) is reported to be 0.733 million tonnes (only partial metal grades reported). The shaft is reported to at least 470 meter depth.

 

Readers are warned that mineralization at the Elmtree gold deposits and historic Nigadoo Brook Mine is not necessarily indicative of mineralization on the Keymet Property.  

 

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.

 

Historic Keymet Mine (1950s)

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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.

 

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:

Kaye Wynn Consulting Inc.: 604-558-2630, Toll Free –888-280-8128

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.

 

Great Atlantic Resource Corp

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

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Source: Great Atlantic Resources Corp. (TSX Venture:GR, FWB:PH01)

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