Twitter Facebook LinkedIn YouTube

Great Atlantic begins 2020 exploration program at its 100% owned Keymet precious metal property in Northeast New Brunswick

Video Platform Video Management Video Solutions Video Player

The 2020 program will focus on gold exploration in the southwest regions of the property where management has identified exploration targets based on historical work.

Tags:

Additional Information:

Company: Great Atlantic Resources
Website: http://www.GreatAtlanticResources.com
Stock Symbol: TSXV: GR
Date Published: Jun 25, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Great Atlantic Resources has commenced its 2020 exploration program at its Keymet Base Metal - Precious Metal Property.

The 100% owned, 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.

The 2020 program will focus on gold exploration in the southwest regions of the property where management has identified exploration targets based on historical work.

A gold occurrence referred to as the Alcida East occurrence was reported in this region of the property, where reported historical highlights for this region include:

• 2.5 grams per tonne gold over 6.1 meters and 1.9 grams per tonne gold over 1.5 meters in a historical trench from the 1980s.
• 3.3 grams per tonne gold over 0.60 meters in a historical trench and 4.3 grams per tonne gold in a grab sample at the Alcida East occurrence.
• Gold soil geochemical anomalies were reported during 2005, including reported high values for gold of 217 and 325 parts per billion.

Three gold deposits with reported mineral resources are located within adjacent mineral claims, approximately 2 kilometers southwest of the Keymet Property boundary.

Great Atlantic has no interest in these deposits, which are referred to as the West Gabbro Zone, Discovery Zone and South Gold Zones.

A NI 43-101 Technical Report for the Elmtree Gold Property, produced by Micon International in 2011 for CNRP Mining and Gorilla Resources, reported resources including:

For the West Gabbro Zone - Indicated Resources of 1,611,000 tonnes @ 1.91 gpt gold and
2,053,000 tonnes @ 1.67 gpt gold
For the South Gold Zone - Inferred Resources of 2,367,000 tonnes @ 0.74 gpt gold
And for the Discovery Zone - Inferred Resources of 741,000 tonnes @ 1.18 gpt gold

Management cautions that mineralization at these adjacent mineral claims is not necessarily indicative of mineralization on the Keymet Property.

Great Atlantic is also planning exploration during 2020 in the northwest region of the Keymet Property with the focus being gold.

Since acquiring the property, the company has discovered gold bearing float and gold in bedrock, in drill holes and trenches, in this region of the property as well as veins containing high grade zinc, lead, copper and / or silver.

This included high grade gold in one boulder sample, which returned 51 grams per tonne gold.

Planned work in the northwest region of the property include prospecting, rock - soil geochemical sampling and geophysical surveys to define trenching and drilling targets, although the southwest - central regions will be the main focus during 2020.

The Keymet Property hosts the historic Keymet Mine, located in the northwest region of the property.

The Keymet Mine operated during the mid-1950s, producing copper, lead, zinc and silver before production was terminated due to a fire at the site.

Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.

The shares are trading at $0.36.

For more information, please visit the company’s website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President and CEO, at 604-488-3900 or email office@GreatAtlanticResources.com.

I’m Cassandra Bolinski for Investmentpitch Media