100% Owned Keymet Precious Metal - Base Metal Property New Brunswick
VANCOUVER, BC / ACCESSWIRE / March 22, 2024 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has received analytical results for rock and soil samples collected during 2023 at its Keymet Precious Metal - Base Metal Property, located in northeast New Brunswick. Highlights include:
- Gold soil anomalies in new target area (west-central region) with 21 of 41 samples yielding anomalous gold values of 10 - 77 parts per billion (ppb) gold.
- Bedrock grab sample (west-central region) yielded 1.41 grams / tonne (G/T) gold.
- 1.5 km long target trend (west-central region) adjacent to Melanson Brook Fault.
- Glacial float sample (northwest region) in a new target area yielded 0.43 G/T gold.
Forty-one soil samples were collected during 2023 in the west-central region of the Keymet Property. The samples were collected within one kilometer of the reported location of the Melanson Brook Fault (Wilson, R.A. (compiler) 2013) within what Company management believe is a favourable northeast - southwest trend for gold mineralization adjacent to and south of the Melanson Brook Fault. The 2023 soil geochemical sampling area is approximately 1.4-2 kilometers southwest of the 2021 and 2022 soil sampling area in which gold anomalies were identified (see Company News Release of March 23, 2023) and approximately 700 meters southwest of a gold bearing outcrop discovered in 2002 (see Company News Release of December 1, 2022). The 2023 samples were collected along two northwest-southeast traverses spaced approximately 300 meters apart. Sample spacing along the traverses was approximately 25 meters.
Twenty-one of the 41 soil samples returned anomalous gold values in the 10-77 ppb range. Nine samples exceeded 20 ppb gold of which seven of nine samples along an approximately 200 meters long section from the east line exceeded 20 ppb gold (up to 49 ppb Au) defining a target area for further exploration in the opinion of Company management. Multiple samples returned anomalous zinc values including four samples in the 541 - 850 parts per million (ppm) range.
Prospecting was conducted during 2023 in the west-central region of the property within a northeast - southwest trend extending from the area of the 2021-2022 soil geochemical sampling to the area of the 2023 soil geochemical sampling. Twelve rock samples were collected from outcrop and glacially transported float.
A 2023 bedrock grab sample collected west of the 2021-2022 soil samples and northeast of the 2023 soil samples returned a highly anomalous value of 1.41 G/T gold. Two grab samples collected during 2022 from this outcrop also yielded highly anomalous gold values of 0.98 G/T gold and 0.34 G/T gold. Three glacial float samples collected during 2022 approximately 250 meters east of this outcrop yielded highly anomalous values of 1.83 G/T gold, 0.63 G/T gold and 0.48 G/T gold (see Company news release of December 1, 2022).
The area of anomalous 2022 and 2023 rock samples is located in the reported area of the Alcida East gold mineral occurrence (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database, Reference No. 907).
The combined anomalous 2021 - 2023 soil samples and 2022-2023 rock samples define a target area approximately 1.5 kilometers long in a northeast-southwest trend adjacent to the Melanson Brook Fault in the west-central region of the property. Company management have found no reports of diamond drilling within this target area.
Prospecting and rock geochemical sampling was also conducted during 2023 in the northwest region of the Keymet Property in an area of little previous work by the Company. Thirteen rock samples were collected in this region from outcrop and glacial float. A sample from an angular sheared metasiltstone glacial float boulder with quartz veins yieled a highy anomalous value of 0.43 G/T gold.
The 2023 soil and rock samples as well as the 2021-2022 soil and rock samples referred to in this news release were submitted to ALS Canada Ltd. for gold analysis (by fire assay - AA) and for multi-element analysis (four acid disgestion and ICP-AES analysis). ALS Canada Ltd. is independent of Greaat Atlantic. The 2021 - 2023 programs were supervised by a Qualified Person.
The historic Keymet Mine, located in the northwest region of the Keymet Property, operated during the mid-1950s, producing lead, zinc, copper and silver. Production at this mine was terminated in 1956 due to a fire at the site. The Company has located gold bearing float and gold bearing bedrock and polymetallic veins containing high grade zinc, copper and silver this region of the property (see the Company's news releases for results of this work).
Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property. These deposits are referred to as the West Gabbro Zone, South Gold Zone and Discovery Zone (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database; and Murahwi et al., 2011). Great Atlantic has no interest in these deposits. Readers are warned that mineralization at the West Gabbro Zone, South Gold Zone and Discovery Zone is not necessarily indicative of mineralization on the Keymet Property.
The Keymet property covers an area of approximately 3,340 hectares and is 100% owned by the Company. Access to the property is excellent with paved roads transecting the property, including a provincial highway.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), 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. Historic results stated on the Keymet Property map (stars 3, 4 and 5) in this news release have not been verified by a Qualified Person.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 - Office
Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com
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.
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
SOURCE: Great Atlantic Resources Corp.
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