Great Atlantic Resources Drill Results 7.59% Zinc Equivalent over 12.05 Meters and in an Additional Zone Below
A New Gold Discovery of (0.64 G/T Au over 19.96 Meters), Keymet Precious – Base Metal Property, Bathurst, New BrunswickVancouver - Great Atlantic Resources Corp. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analytical results for initial drill core samples from the recent diamond drilling program at its Keymet Precious – Base Metal Property, located near Bathurst, northeast New Brunswick. The drilling program consisting of 5 holes (totalling 679 meters) was conducted in the northwest region of the property. Analytical results received are for core samples from the first two holes (Ky-17-5 and Ky-17-6) of the program. Highlights include 7.59% Zn Eq. (3.54% Zn, 0.92% Cu, 028% Pb and 115.6 g/t Ag) over 12.05 meter core length in Ky-17-6 and the discovery of a new gold bearing zone in Ky-17-6 (0.64 g/t Au over 19.96 meter core length).
Zinc, copper, lead and silver bearing vein in Ky-17-6.
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The Keymet Property hosts multiple gold, silver, zinc, lead and / or copper occurrences and the Keymet deposit, site of the historic Keymet Mine.
The diamond drilling program tested the continuation of zinc, copper, lead and silver bearing veins and 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. Gold mineralization on the property is associated with arsenopyrite with previous Great Atlantic boulder samples returning up to 51 g/t Au. The Company has completed systematic sampling of mineralized drill core from each hole with core samples submitted to ALS Mineral in Sudbury, Ontario for analysis. The Company has received analyses for samples from holes Ky-17-5 and Ky-17-6, the first two holes in the 2017 program. Highlights include:
| Hole No: | From (m) | To (m) | Length (m) | Zn Eq. (%) | Zn (%) | Pb (%) | Cu (%) | Ag (g/t) | Au (g/t) |
| Ky-17-5: | 46.90 | 46.90 | 0.30 | 1.385 | |||||
| 67.05 | 68.65 | 1.60 | 3.12 | 2.31 | 0.14 | 0.09 | 31.4 | ||
| 79.05 | 81.80 | 2.75 | 7.51 | 5.43 | 0.19 | 0.45 | 60.0 | ||
| Incl. | |||||||||
| 81.00 | 81.80 | 0.80 | 19.24 | 13.65 | 0.45 | 1.20 | 166.0 | ||
| Ky-17-6: | 119.45 | 131.50 | 12.05 | 7.59 | 3.54 | 0.28 | 0.92 | 115.60 | |
| incl. | |||||||||
| 119.45 | 124.40 | 4.95 | 14.77 | 7.67 | 0.48 | 1.57 | 209.3 | ||
| 148.80 | 149.75 | 0.95 | 4.9 | ||||||
| 155.80 | 158.40 | 2.60 | 8.86 | 1.79 | 1.67 | 0.29 | 316.30 | ||
| 164.00 | 183.96 | 19.96 | 0.64 |
Notes:
- Zinc equivalent grades (Zn Eq. (%)) are based on the following metal prices: Zinc US$3,182 / tonne (US$1.44 / lb.), Lead US$2,509 / tonne (US$1.14 / lb.), Copper US$6,734 / tonne (US$3.05 / lb.) and Silver US$16.03 per troy ounce. Metal recoveries of 100% were applied in the metal equivalent calculations. The zinc equivalent calculation is as follows: Zn Eq. = 100 x ((Ag Price in grams x Ag Grade) + (Pb Price x 2204.6 x Pb Grade (%) / 100) + (Cu Price x 2204.6 x Cu Grade (%) / 100) + (Zn Price x 2204.6 x Zn Grade (%) / 100)) / Zn Price x 2204.6.
- True widths are not known at this time.
Four 2017 holes (Ky-17-5, 6, 7 and 9) were drilled in the same area as 2015 holes Ky-15-3 and 4, approximately 1.4 kilometers northwest of the historic Keymet Mine, in an area referred to as the Elmtree 12 occurrence. Both 2015 holes intersected base metal and silver bearing veins (including 16.68% Zn, 1.11% Cu and 152.0 g/t Ag over 1.80 meter core length in Ky-15-3 and 8.68% Zn and 44.8 g/t Ag over 4.28 meter core length in Ky-15-4). Hole Ky-15-3 also intersected a gold bearing interval (3.28 g/t Au over2.1 meter core length). The true width of these initial 2015 drill intersections is unknown at this time. The 2017 program tested the continuation of this base metal and precious metal mineralization. Each of the 2017 holes in this area intersected veins with base metal sulfides. Company management are interpreting the main veins in this target area to be within a steep dipping to vertical vein system striking approximately north – south, with all Great Atlantic drill intersections to date being within an approximately 70 meter strike length and shallow depth (above 100 meter vertical depth).
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Hole Ky-17-6 intersected local arsenopyrite within an approximate 50 meter core width interval appearing to be east to northeast of the main base metal bearing vein zone. The gold bearing interval of 164.00 – 183.96m is within this zone of arsenopyrite mineralization.
Closed-spaced 1980s diamond drill holes (Brunswick Mining and Smelting and Aurtec Inc.) in the area of holes Ky-15-3, 4, Ky-17-5, 6, 7 and 9 intersected near-surface mineralized veins (Elmtree 12 vein occurrence). A 0.88 metre core length interval from a 1981 drill hole was reported to grade 7.72% Cu, 11.36% Zn an 13.6 ounces per ton Ag. A 1.22 metre core length sample from a near-by 1989 drill hole was reported to assay 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The true width of these intersections is unknown. These drill intersections are within 50 metre vertical depth. Great Atlantic personnel found loose casing in this area during 2015. It is uncertain which historic hole this represents.
Analytical results are pending for drill core samples from Ky-17-7, 8 and 9. Hole Ky-17-8, located approximately 80 meters southwest of holes Ky-17-5, 6 and 7, tested the down-dip extension of a gold bearing zone discovered by the Company in a 2015 trench (channel samples returning 1.1 g/t Au over 4.9 meters). The gold bearing zone in the trench is characterized by minor arsenopyrite in metasediments and increased quartz veining. A fault zone is also exposed in the trench hosting base metal and silver mineralization (2015 grab sample returned 8.99% lead, 1.76% zinc, 0.80% copper and 237 g/t silver). Although not initially noted, arsenopyrite was observed locally in the drill core during detailed core logging. This hole also intersected veins with base metal sulfides approximately vertically under the trench fault zone.
Access to the property is excellent with paved roads transecting the property, including a provincial highway. The property covers an area of approximately 3,400 hectares.
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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 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.
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
Great Atlantic Resource Corp. - GR - TSX.v
604-488-3900 – Dir
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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.
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Great Atlantic Resource Corp
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Source: Great Atlantic Resources Corp. (TSX Venture:GR, FWB:PH01)
