Vancouver, British Columbia–(Newsfile Corp. – January 21, 2019) – Great Atlantic Resources (TSXV:GR) (FSE: PH01) has reported results from its 2018 diamond drill program at its Keymet Precious – Base Metal Property, including 7.89% zinc equivalent over 34.3 meters starting at a depth of only 46 meters in Hole Ky-18-14. Hole KY-18-10 returned 10.91% zinc equivalent over 3.27 meters at a depth of 85 meters. The 3,400 hectare property, located approximately 20 kilometres northwest of Bathurst, in northeastern New Brunswick, Canada, has excellent access with paved roads, including a provincial highway, transecting the property.
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The 13 hole program (Ky-18-10 to Ky 18-22) was conducted in the northwest region of the property approximately 1.5 kilometers northwest of the historic Keymet Mine. Eleven holes tested the Elmtree 12 vein system as in-fill drilling and along strike with some holes testing deeper than previous drilling.
Two holes (Ky-18-19 and Ky-18-20) tested the continuation of another base metal and silver bearing vein southwest of the Elmtree 12 vein system. This vein was discovered during 2017 drilling when hole Ky-17-8 reported 18.8% zinc, 3.5% copper and 576 grams per tonne silver over a 1.27 meter core length.
Great Atlantic had previously drilled six holes in the Elmtree 12 veins system during 2015 and 2017, intersecting zinc, copper, lead and silver bearing polymetallic veins.
Since acquiring the Keymet Property, the company has focused on the northwest region of the property. At least 7 vein occurrences with lead, zinc, frequently with copper, silver and gold have been reported in this region of the property in addition to the polymetallic veins reported at the historic Keymet Mine.
Great Atlantic has explored 2 of these vein occurrences, the Elmtree Silver Mine veins and adjacent areas, northwest of the historic Keymet Mine, which operated during the mid-1950s, producing copper, lead, zinc and silver, until production was terminated due to a fire.
Significant precious metal – base metals deposits are reported within 4 kilometres of the Keymet Property, with the Elmtree gold deposits located within 3 kilometres west-southwest of the Keymet Property.
The historic Nigadoo River Mine is located approximately 4 kilometres south of the Keymet Property, where polymetallic massive sulfide veins were mined during the 1960s and 1970s with copper, lead, zinc and silver being produced. The New Brunswick Department of Energy and Resource Development Database reports shaft depth of 470 metres and production totals at this historic mine. Production during 1967 – 1971 is reported as 1.126 million tonnes at 2.2% lead, 2.1% zinc, 0.24% copper and 92.57 grams per tonne silver. Following a 2 year closure, production during 1973 – 1977 is reported to be 733,000 tonnes, with only partial metal grades reported.
Callinex Mines filed a NI 43-101 last March for its Nash Creek Project located approximately 15 kilometers northwest of Great Atlantic’s Keymet Property. Using a 1.5% zinc equivalent cut-off, Callinex reported approximately 13.6 million tonnes indicated resources at 2.68% zinc, .58% lead and 17.8 grams per tonne silver, and 5.9 million tonnes inferred resources at 2.68% zinc, .47% lead and 13.9 grams per tonne silver.
For more information, please visit the company’s website www.greatatlanticresources.com. Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email [email protected]
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