InvestmentPitch Media Video discusses Great Atlantic
VANCOUVER, British Columbia, July 08 12, 2022 (GLOBE NEWSWIRE) — Great Atlantic Resources (TSXV:GR) (FSE:PH02) has launched its 2022 exploration program on its Keymet precious and base metals property in northeastern New Brunswick. The 3,400 hectare, 100% owned property, located approximately 20 kilometers northwest of Bathurst, in northeastern New Brunswick, Canada, has excellent access with paved roads, including a provincial highway, crossing the property.
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The Keymet property is host to the historic Keymet mine, located in the northwest region of the property, which operated in the mid-1950s, producing lead, zinc, copper and silver, according to Government of New Brunswick database files. Production at this mine ended in 1956 due to a fire at the site.
Much of Great Atlantic’s earlier work has focused on the area northwest of the historic Keymet mine. The 2021 soil geochemical sampling in the central region of the Keymet property was conducted along four northwest-southeast traverses in an area approximately 850 meters long by approximately 500 meters wide with a total of 91 samples taken.
- Sixty of 91, or 66% of the soil samples returned anomalous gold values of 0.005 ppm and above.
- One or more samples from each of the four ties exceeded 0.010 ppm gold with 12 samples returning 0.011 – 0.067 ppm gold.
- Five of seven consecutive 7 samples along an approximately 150 meter section of a traverse returned gold values of 0.014 to 0.067 ppm gold.
- This anomalous zone is open in all directions.
The 10-hole, 2,061 meter drill program in 2021 tested numerous target areas of polymetallic veins, untested electromagnetic geophysical anomalies and areas of gold mineralization in the northwest region of the property. A new gold discovery, the Debler Zone, in hole Ky-21-25, included 3.17 g/t gold over 0.70 meter, and polymetallic veins in hole Ky-21-27 in the Elmtree 12 zone, including 7.02% zinc equivalent over 0.92 metres.
The current program is being conducted in the central region of the Keymet property within and around the gold soil geochemical anomaly zone to better define the gold anomalies and determine the extent of the gold anomalies. Prospecting and rock geochemical sampling are also underway to identify potential sources of gold ground anomalies and further define trenching and drilling targets. This area of the property is relatively under-explored and management believes this area has the potential to host gold deposits given its location along the reported northeast-southwest contact between rocks of the Fournier Group of the Ordovician-Early Silurian and the rocks of the Silurian Heat Group.
Gold deposits occur approximately 4.5 to 5 kilometers southwest of this survey area and west of the Keymet property near this geological contact. Three gold deposits, with declared mineral resources, are reported within 2 kilometers of Keymet’s southwest boundary, called the West Gabbro Zone, the Discovery Zone and the South Gold Zone.
In 2011, Micon International Limited reported 43-101 Compliant Mineral Resources for these three deposits in the Mineral Resource Estimate Technical Report for the Elmtree Gold Property for CNRP Mining and Gorilla Resources.
Declared resources include:
- West Gabbro zone with indicated resources of 1,611,000 tonnes at 1.91 g/t gold and inferred resources of 2,053,000 tonnes at 1.67 g/t gold
- Southern gold zone with inferred resources of 2,367,000 tonnes @ 0.74 g/t gold, and the
- Discovery area with inferred resources of 741,000 tonnes at 1.18 g/t gold
Management cautions that the mineralization reported by Micon for these three deposits is not necessarily indicative of the mineralization on the Keymet property.
Great Atlantic, with a number of properties in the Atlantic Provinces, uses a project generation model, with particular emphasis on critical elements that are important to Atlantic Canada, such as antimony, tungsten and l ‘gold.
The shares are trading at $0.10. For more information, visit the company’s website www.GreatAtlanticResources.comcontact Christopher R. Anderson, President and CEO, at 604-488-3900.
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