VANCOUVER - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the 'Company' or 'Great Atlantic') is pleased to announce it has received gold assays and multi-element analyses for drill core samples from the first five holes of the 2021 diamond drilling program at its Keymet Base Metal - Precious Metal Project, located in northern New Brunswick.
The drilling program, consisting of 10 holes (2,061 meters) tested numerous targets in the northwest region of the property.
Highlights include a new gold discovery (Debler Zone) in drill hole Ky-21-25 including 3.17 grams / tonne (g/t) gold over 0.70 meters core length and polymetallic veins in hole Ky-21-27 (Elmtree 12 Zone) including 7.02% zinc equivalent over 0.92 meters core length.
Drill hole Ky-21-23 tested the area immediately east of a historic shaft at the Elmtree Silver Mine mineral occurrence. The shaft at this occurrence is reported to have been sunk during the late 1800s. Ky-21-23 was drilled approximately south at an approximate 50-degree dip testing the area immediately east of the saft. The hole intersected a narrow interval with sulfide (pyrite, sphalerite, galena and / or chalcopyrite) - carbonate - chlorite veins cutting altered meta-sediments. A 0.33-meter core length sample (49.53-49.86 meters) through this interval returned 1.78% zinc, 2.09% lead, 2400 ppm copper (0.24% Cu) and 17.9 ppm (g/t) silver or 3.81% zinc equivalent. A 2015 Great Atlantic drill hole (Ky-15-1) was drilled from the same site, but to the southwest under the shaft. Ky-15-1 intersected a narrow interval of sulfide bearing veins of which a 0.51-meter core length sample returned 9.53% zinc, 9.01% lead, 0.48% copper and 66 g/t silver or 16.82% zinc equivalent. Additional drilling is required to determine if the vein systems intersected in Ky-15-1 and Ky-21-23 correlate.
Drill hole Ky-21-24 tested an electromagnetic anomaly. It was drilled approximately east at an approximate 50-degree dip. A 0.31-meter core length sample with sulfide stringers / clusters returned anomalous values of 1,740 ppm zinc, 1,520 ppm lead, 344 ppm copper and 3.6 g/t silver.
Drill hole K-21-25 tested the area of a gold-bearing outcrop. A 2015 grab sample collected by Great Atlantic from the outcrop returned 1.14 g/t gold. The hole was drilled to the southwest at an approximate 60-degree dip, approximately under the outcrop. This is the first drill hole by Great Atlantic in this target. The hole intersected two gold bearing intervals representing new discoveries with the following intercepts (core length): 60-32.23meters (0.63 meters): 1.53 g/t gold (altered meta-sediment with disseminated arsenopyrite), being approximately under the gold bearing outcrop.
25-74.95 meters (0.70 meters): 3.17 g/t gold (altered metasediment with disseminated arsenopyrite and arsenopyrite in quartz veins).
Of note, three samples covering the interval of 71.43 - 74.25 meters (2.82 meters core length) all returned anomalous values for gold, with a weighted average of 0.25 g/t gold.
The Company is referring to the gold discovery in Ky-21-25 as the Debler Zone, named after the prospector who initially sampled the gold bearing outcrop.
A 0.40-meter core length sample (123.00-123.40 meters) in Ky-21-25 with sulfide bearing veins returned 1.08% zinc, 2.29% lead, 687 ppm copper (0.0687% Cu) and 12.8 g/t silver or 2.73% zinc equivalent. This represents a new polymetallic vein discovery.
Drill hole Ky-21-26 tested an area of polymetallic veins and gold bearing bedrock discovered by the Company during 2015 and 2017. The hole was collared approximately 30 meters north of a 2017 drill hole (Ky-17-8) which intersected 18.8% zinc, 3.55% copper, 1.16% lead and 576 g/t silver over 1.27 meters core length or 38.1% zinc equivalent and a 2015 trench from which channel samples graded 1.11 g/t gold over 4.9 meters cumulative length. Hole Ky-21-26 was drilled approximately west at an approximate 50-degree dip. A 1.40-meter core length interval returned anomalous gold vales, averaging 0.12 g/t gold.
Drill hole Ky-21-27 is a definition hole at the Elmtree 12 polymetallic vein system. It was drilled slightly northeast at a 70-degree dip, testing slightly deeper in the southern part of the Elmtree 12 polymetallic vein system. The Company drilled numerous holes during 2015-2018 within this vein system, intersecting veins containing high grade zinc, copper and / or silver. Ky-21-27 intersected the Elmtree 12 vein system (sulfide being veins with pyrite, sphalerite, galena and chalcopyrite). A 0.92-meter core length sample (102.64-103.56 meters) through this interval returned 3.50% zinc, 3.26% lead, 3610 ppm copper (0.361% Cu) and 48.8 g/t silver or 7.02% zinc equivalent. This confirms the mineralized vein system is open at depth in this part of the zone.
Christopher R Anderson
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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.