GR-V Keymet Project, Bathurst New Brunswick Trench Samples Return up to
472 g/t Ag, 11.85% Pb, 7.61% Zn and 5.14% Cu
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FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – October 29, 2015 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analyses and assays for rock samples collected during a recent trenching program at its Keymet Precious – Base Metal Project, located in northeast New Brunswick. The Keymet project is located approximately 20 kilometres northwest of Bathurst and covers an area of approximately 3560 hectares.
The trenching program was conducted during July in the northwest region of the Project, targeting an area approximately 1.3 – 1.6 kilometres northwest of the historic Keymet Base Metal – Silver Mine. Trenching was conducted in the area of the Elmtree 12 base metal and silver vein occurrence and an area of gold soil anomalies, gold bearing float and gold bearing trench bedrock as discovered by Great Atlantic during 2011 and 2012. Nine trenches were excavated. Grab and channel samples of bedrock and grab samples of float in till were collected in some trenches and submitted to ALS Minerals for multi-element analysis and gold assay. The samples were assayed for gold by Fire Assay - Atomic Absorption Spectroscopy (AAS) and analyzed for 33 elements (including silver, lead, zinc, copper, bismuth and molybdenum) by Four Acid, Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES).
Trench 1 and Trench 6 were excavated at the documented location of the Elmtree 12 vein occurrence. Trench 1 exposed a northwest striking sulfide-rich vein cutting altered sediments. The vein appears to be sub-vertical to steeply dipping. Two adjacent 0.50 metre long channel samples were collected across the vein, perpendicular to its strike (samples were approximately 5 centimetres wide and 5 centimetres deep). The first channel sample returned 308 ppm silver (308 parts per million or grams / tonne Ag), 19400 ppm copper (1.94% Cu) and 15250 ppm zinc (1.525% Zn) over 0.50 metre length. This sample was elevated in bismuth (280 ppm Bi) and molybdenum (110 ppm Mo). The adjacent parallel channel sample returned 244 ppm Ag, 22300 ppm Cu (2.23% Cu) and 13600 ppm Zn (1.36% Zn) over 0.50 metre length. These samples may not represent true width of the vein. Two pieces of mineralized vein float were uncovered at the till – bedrock interface in this trench and west of (up ice direction) the mineralized vein. One piece of float (estimated to be 12 by 10 by 10 centimetres) returned 472ppm Ag, 51400 ppm Cu (5.14% Cu) and 76100 ppm Zn (7.61% Zn). A sample from the second piece of float (approximately 30 by 30 by 20 centimetres) returned 324 ppm Ag, 33100 ppm Cu (3.31% Cu) and 38700 ppm Zinc (3.87% Zn).
Trench 1 Sulfide – rich vein
Trench 6 was excavated approximately 50 metres west of Trench 1. This trench exposed a narrow northwest trending vein (sub-vertical) of almost massive sulfides. A 0.18 metre long channel sample was collected across of the vein (approximately 10 centimetres wide and 5 centimetres deep), perpendicular to its strike. The sample returned 269 ppm Ag, 11.85% lead (Pb), 57700 ppm Zn (5.77% Zn) and 15500 ppm Cu ( 1.55% Cu) over 0.18 metre length (approximate true width of vein). This sample was elevated in bismuth (340 ppm Bi) and molybdenum (110 ppm Mo). The distance between the two mineralized vein exposures in Trench 1 and Trench 6 is approximately 40 metres. Company management believe these to be 2 separate mineralized veins being part of the Elmtree 12 vein system.
Previous 1980s close spaced diamond drill holes at the Elmtree 12 vein occurrence intersected near-surface mineralized veins with reported intersections including 7.72% Cu, 11.36% Zn and 13.6 ounces per ton over a 0.88 metre core length (Brunswick Mining and Smelting) and 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag over a 1.22 metre core length (Aurtec). Trench 1 was approximately vertically above these drill holes.
David Martin, VP Exploration for Great Atlantic, stated “the 2015 trenching confirms base metal and silver bearing veins at the Elmtree 12 occurrence northwest of the historic Keymet Mine. Drilling is now required to test for continuation of these veins at depth and to test the historic 1980s drill intersections at this location. Drilling must also test deeper than the 1980s drill holes which intersected the veins within 50 metres of surface.”
Six of the 2015 trenches tested the area immediately south of the Elmtree 12 occurrence. This is an area of gold soil anomalies and gold bearing altered sedimentary float boulders discovered by Great Atlantic in 2011 (boulders samples assayed up to 51 g/t Au). Trench 3 exposed a zone of silicified and arsenopyrite bearing sediments approximately 5 to 10 metres east of a north-south trending shear zone. A series of channel samples over a 4.9 metre total length through this zone graded 1.11 ppm Au. The channel samples were orientated east-west parallel to the trench direction. The orientation of this gold bearing zone was not determined. For reference, this gold bearing zone is approximately 125 metres southwest of the mineralized vein in Trench 1. The Trench 3 gold bearing zone is approximately 30 metres north of a gold bearing zone exposed in a 2012 Great Atlantic trench in which channel samples across sheared and silicified wacke graded 1.09 g/t Au over 11.78 metres. Three 2014 diamond drill holes under this 2012 trench failed to intersect significant levels of gold.
Great Atlantic has the option to acquire 100% interest in the property from a local prospector, subject to a 2% NSR. Access to the property is excellent with paved roads transecting the property, including a provincial highway. Base metal and silver mining was previously conducted within the property during the 1950s at the former Keymet Mine.
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. David Martin is VP Exploration for Great Atlantic Resources Corp.
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
“Lorne Mann”
Lorne Mann,
Director
604-488-3900 |
