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    GR   CA3900873025

GREAT ATLANTIC RESOURCES CORP.

(GR)
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Great Atlantic Drilling Update Intersects Base Metal Sulfides in Semi-Massive Sulfide Veins and Indicator Mineral for Gold Mineralization

09/09/2021 | 11:49am EDT

GREAT ATLANTIC ESOURCES CORP. announced it is continuing to drill but has completed the first seven drill holes of the 2021 diamond drilling program at its Keymet Base Metal - Precious Metal Project, located in Northern New Brunswick. The drilling program is testing numerous target areas in the northwest region of the property. Veins containing semi-massive sulfides (including copper, zinc and lead sulfides) and arsenopyrite (an indicator for potential gold mineralization) were intersected in multiple holes. Analytical results are pending. The seven holes completed to date during 2021 (Ky-21-23 to Ky-21-29) tested areas of polymetallic (zinc, copper, lead and silver) veins; untested electromagnetic anomalies; and gold bearing bedrock and float. The Company previously discovered high grade gold, silver, copper and zinc in this region, including a drill intercept of 9.04% zinc, 9.19% copper and 1,158 gams per tonne (g/t) silver over 3.00 meters core length and a boulder sample returning 51 grams /tonne (g/t) gold. Five of the seven holes completed to date during the 2021 program have intersected veins hosting copper, zinc and lead sulfide mineralization, including veins with semi-massive sulfides. These include drill holes Ky-21-23 which tested the possible extension of the Elmtree Silver Mine vein occurrence southeast of the historic shaft; Ky-21-25 which tested a new target area; Ky-21-27 and Ky21-28 which tested the Elmtree 12 polymetallic vein system; and Ky-21-29 which was the first drill hole into an electromagnetic anomaly. Five of the seven holes completed to date (Ky-21-25 to Ky-21-29) during the 2021 program have intersected intervals with arsenopyrite mineralization. Previous work by the Company has identified gold mineralization associated with arsenopyrite mineralization in this region of the property. Drill hole Ky-21-30 is currently underway, testing deeper than previous drilling in the Elmtree 12 vein system. The drill core is being geologically logged and with mineralized intervals (with base metal sulfides and arsenopyrite) being sampled. Half core samples will be submitted to an independent laboratory for multi-element analysis (including gold, zinc, copper, lead and silver). The 2021 exploration program is being managed by a Qualified Person. High grade silver and lead is reported at the Emtree Silver Mine historic workings by the New Brunswick Department of Energy and Resource Development. Great Atlantic discovered high-grade zinc, copper and silver mineralization at the Emtree 12 polymetallic vein system during 2015 - 2018 drilling programs including: Ky-15-3: 16.68% Zn, 1.11% Cu, 0.44% Pb and 152 g/t Ag over 1.80 meters. Ky-15-4: 8.68% Zn, 0.29% Cu, 0.20% Pb and 44 g/t Ag over 4.28 meters. Ky-17-6: 7.67% Zn, 1.57% Cu, 0.48% Pb and 209 g/t Ag over 4.95 meters. Ky-18-10: 7.91% Zn, 0.53% Cu, 0.21% Pb and 77 g/t Ag over 3.27 meters. Ky-18-12: 8.90% Zn, 3.81% Cu, 0.60% Pb and 157 g/t Ag over 1.20 meters. Ky-18-14: 9.04% Zn, 9.19% Cu, 2.16% Pb and 1,158 g/t Ag over 3.00 meters. Ky-18-14: 12.08% Zn, 0.31% Cu, 0.30% Pb and 59 g/t Ag over 4.50 meters. The Company is also conducting prospecting and rock /soil geochemical sampling during 2021 in the central region of the property with a focus on gold.


© S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 -2,26 M -1,83 M -1,83 M
Net cash 2021 1,24 M 1,00 M 1,00 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 8,62 M 6,97 M 6,97 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 60,8%
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Managers and Directors
Christopher Ross Anderson President, Chief Executive Officer & Director
Scott Kent Chief Financial Officer & Director
Allan J. Beaton Independent Director
Barry Brown Secretary
Dave Martin Senior Geologist
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