Great Atlantic Drill Holes Intersect 3.28 g/t Au over 2.1 metre 16.68% Zn and 152 g/t Ag over 1.80 metres
And 152 g/t Ag over 1.80 metres and 8.68% Zn over 4.3 metres at Keymet Base and Precious Metal Project Bathurst Mining Camp, New Brunswick CanadaVancouver, BC (FSCwire) - Great Atlantic Resources Corp. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce assay results of its November 2015 diamond drilling program completed at its Keymet Base and Precious Metal Project, northeast New Brunswick. The drilling program consisted of four holes totalling 419 metres. Base metal and silver bearing veins were intersected in all four holes, successfully confirming two base metal – silver vein occurrences. Intercepts included 16.68% Zn, 1.11% Cu and 152.0 g/t Ag over 1.80 metre core length in hole Ky-15-3 and 8.68% Zn, 0.29% Cu and 44.8 g/t Ag over 4.3 metre core length in hole Ky-15-4. A gold bearing zone was also intersected in Ky-15-3, assaying 3.28 g/t Au over 2.1 metre core length. The Keymet project is located approximately 20 kilometres northwest of Bathurst and covers an area of approximately 3560 hectares.
Base metal and silver bearing veins were previously mined within the Keymet Project during the 1950s at the historic Keymet Mine. Base metal and silver bearing veins were also mined approximately 4 kilometres south of the Company’s Keymet Project at the historic Nigadoo Mine (production during the 1960s and 1970s.).
The November 2015 diamond drilling program was conducted in the northwest region of the Keymet Project, a priority area for the Company. Multiple base metal and silver bearing vein occurrences are documented in this region. The Company previously discovered gold bearing boulders and gold in trench bedrock locally in this region. The drilling program tested two base metal and silver bearing vein occurrences, the Elmtree 12 and Elmtree 13 occurrences, located approximately 1.3 and 1.4 kilometres northwest of the historic Keymet Mine. Elmtree 13 is also referred to as the Elmtree Silver Mine.
Initial holes Ky-15-1 and Ky-15-2 tested the historic Elmtree Silver Mine vein occurrence. The drill was subsequently moved approximately 420 metres to the northeast where holes Ky-15-3 and Ky-15-4 tested the Elmtree 12 vein occurrence. These final two holes were also collared within a zone of gold bearing silicified sedimentary boulders previously discovered by the Company (boulder assays reported up to 51g/t Au.). The zone of gold-bearing boulders extends west of these two holes in the reported up-ice glacial direction. Each of the 2015 drill holes intersected veins with sphalerite, galena and chalcopyrite cutting sedimentary rocks. Sporadic arsenopyrite was intersected in Ky-15-3 and Ky-15-4 with assays revealing a gold bearing interval in Ky-15-3. Drill core sampling involved sawing drill core in half, with half core samples being placed in sample bags and the remaining half core placed back in the core trays. All samples were submitted to ALS Minerals for assay. The samples were assayed for gold by Fire Assay – Atomic Absorption Spectroscopy (AAS) and for silver, copper, lead, zinc and arsenic by Four Acid and Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES).
Significant intercepts for the 2015 drill program are listed in the following table:
| Hole No. | From (metres) | To (metres) | Length (metres) | Zn (%) | Pb (%) | Cu (%) | Ag (g/t) | Au (g/t) |
| Ky-15-1 | 47.91 | 48.42 | 0.51 | 9.53 | 9.01 | 0.484 | 66 | 0.008 |
| Ky-15-1 | 78.52 | 79.10 | 0.58 | 1.445 | 1.98 | 0.049 | 18 | 0.009 |
| Ky-15-2 | 54.09 | 54.62 | 0.53 | 1.84 | 1.915 | 0.097 | 14 | 0.011 |
| KY-15-3 | 30.10 | 32.20 | 2.10 | 0.031 | 0.027 | 0.003 | 1 | 3.28 |
| KY-15-3 | 40.53 | 40.73 | 0.20 | 4.54 | 3.92 | 0.127 | 72 | 0.037 |
| KY-15-3 | 60.80 | 62.60 | 1.80 | 16.68 | 0.44 | 1.11 | 152.0 | 0.015 |
| includes | 60.80 | 61.55 | 0.75 | 17.85 | 0.277 | 1.21 | 87 | 0.022 |
| includes | 61.84 | 62.60 | 0.76 | 20.20 | 0.729 | 1.33 | 262 | 0.01 |
| Ky-15-4 | 90.07 | 94.35 | 4.28 | 8.68 | 0.20 | 0.29 | 44.8 | 0.016 |
| includes | 90.07 | 90.53 | 0.46 | 17.50 | 0.139 | 0.22 | 33 | 0.016 |
| includes | 91.66 | 92.50 | 0.84 | 12.40 | 0.258 | 0.441 | 73 | 0.029 |
| includes | 93.55 | 94.35 | 0.80 | 21.10 | 0.604 | 0.888 | 115 | 0.02 |
Drill holes Ky-15-3 and Ky-15-4, testing the Elmtree 12 occurrence, intersected the more significant base metal and silver bearing veins. The holes tested an area of historic 1980s diamond drilling (by Brunswick Mining and Smelting and Aurtec Inc.) and a 2015 Great Atlantic trench. The 1980s holes reportedly intersected near-surface mineralized veins. These include a 0.88 metre core length interval from a 1981 drill hole reported to grade 7.72% Cu, 11.36% Zn and 13.6 ounces per ton Ag and a 1.22 metre core length sample from a near-by 1989 drill hole reported to assay 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The summer 2015 trenching program by Great Atlantic exposed a northwest striking, sub-vertical base metal and silver bearing vein approximately above the 1980s drill intersections.
Both Ky-15-3 and Ky-15-4 were drilled from the same set-up to the northeast (050 degree azimuth) approximately under the previous 2015 trench and from the opposite direction as the earlier 1980s holes. Ky-15-3 was drilled at a 45 degree angle and intersected sphalerite – rich veins at 60.80 – 62.60 metres (grading 16.68% Zn, 1.11% Cu, 0.44% Pb and 152.0 g/t Ag over a 1.80 metre core length). These veins also contain chalcopyrite, galena, chlorite and carbonate. Ky-15-4 was drilled at a 60 degree dip on the same azimuth to intersect the veins deeper. Multiple sphalerite and carbonate – rich veins were intersected in this hole at 90.07 – 94.35 metres (grading 8.68% Zn, 0.29% Cu, 0.20% Pb and 44.8 g/t Ag over 4.28 metre core length), approximately 35 metres vertically under the main vein intersection of the Ky-15-3.
David Martin, VP Exploration for Great Atlantic, stated “the two holes at the Elmtree 12 occurrence were successful in establishing the location of the main zone of veining and confirming high levels of zinc mineralization while also confirming local significant levels of copper and silver in this vein system. Future drilling programs will be designed to test the zone along strike and deeper. We know these vein systems can extend to significant depths based on historic development at the Keymet Mine and nearby Nigadoo Mine where development at each exceeded 300 metre depth.”
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Sphalerite – carbonate veins in Ky-15-4
Intermittent arsenopyrite mineralization was intersected in holes Ky-15-3 and Ky-15-4. Intervals with arsenopyrite were sampled in Ky-15-3 for gold assay. One such interval at 30.10 – 32.20 metres assayed 3.28 g/t Au. Sampling of similar arsenopyrite bearing zones in Ky-15-4 is planned. Gold and arsenopyrite bearing boulders discovered previously extend west of these two holes. Company management believe the main source of these boulders to be further west in the reported up-ice glacial direction.
Holes Ky-15-1 and Ky-15-2 tested the area of the historic Elmtree Silver Mine near the shaft. Hole Ky-15-1 was drilled to the southwest at a 45 degree dip under the shaft testing for continuation of the vein at depth. The shaft was reported to be 20 metres deep being sunk during the late 1800s. The shaft was reported to intersect a northwest striking and northeast dipping base metal and silver bearing vein. A narrow zone of multiple veins was intersected in this hole at 78.52 – 79.10 metres (1.44% Zn, 1.98% Pb and 18 g/t Ag over 0.58 metre core length) interpreted by Company management to be the target vein(s). A narrow zone of erratic sphalerite - galena – chalcopyrite veins was intersected higher in the hole at 47.91 – 48.42 metres (9.53% Zn, 9.01% Pb, 0.48% Cu and 66 g/t Ag over 0.51 metre core length). Hole Ky-15-2 was collared approximately 75 metres northwest of the first hole. It was also drilled at a 45 degree dip to the southwest. This hole also intersected a narrow zone of multiple veins at 54.09 – 54.62 metres (1.84% Zn, 1.91% Pb and 14 g/t Ag over 0.53 metre core length), interpreted by Company management to be the Elmtree Silver Mine zone.
Holes Ky-15-01 and Ky-15-2 indicate the Elmtree Silver Mine zone to be narrow below the shaft and to the northwest. The shaft is located approximately 1.3 kilometres northwest of the historic Keymet Mine (of which the main vein also strikes northwest). Company management believe the historic Elmtree Silver Mine to represent the same mineralized structure as at the historic Keymet Mine. Historic exploration data is very limited for the historic Elmtree Silver Mine. Government reports indicate the vein to contain significant levels of lead, zinc and silver. Late 1800s and early 1900s reported assays include 71.1 and 59% lead and 33.75 oz. / ton silver. A 1989 government dump sample was reported to return 120,000 ppm zinc (12.0% Zn). Rubble and float samples collected by Great Atlantic near the shaft returned up to 14.5% zinc. 6.27% lead, 1.5% copper and 139 g/t Ag. There are no reports of recent drilling at this vein occurrence. Four holes were reported in this area during the 1930s and 1940s although no data is available for these holes.
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 assays referred to in this News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release. David Martin is VP Exploration for Great Atlantic Resources Corp.
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.. Great Atlantic is currently surging forward building the company, 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
“Lorne Mann”
Director
604-488-3900
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, OTC Bulletin Board:PRZCF) http://greatatlanticresources.com/
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