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Great Atlantic Receives Permit for 15 Drill Holes at Keymet Property in New Brunswick

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Great Atlantic Resources (TSXV:GR) (FSE:PH01) received a diamond drill permit for up to 15 holes at its Keymet Precious/Base Metal Property. In addition, the New Brunswick government is providing a $40,000 exploration grant under the Junior Mining Assistance Program.

Additional Information:

Company: Great Atlantic Resources
Website: http://www.greatatlanticresources.com
Stock Symbol: TSXV:GR
Date Published: Jun 18, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Great Atlantic Resources (TSXV:GR) (FSE:PH01) has received a diamond drill permit for up to 15 holes at its Keymet Precious – Base Metal Property.

In addition, the New Brunswick government is providing a $40,000 exploration grant under the Junior Mining Assistance Program.

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.

The new drill program, to begin in July, in the northwest region of the property in the area of the polymetallic Elmtree 12 vein system and an adjacent new gold bearing vein discovered during drilling in 2017.

The 2018 program will test these polymetallic veins along strike and depth, providing additional data for a planned maiden resource estimate.


Highlights from the 2017 program included 37.32% zinc equivalent over a 1.27 metre core length in a new vein discovery and 7.76% zinc equivalent over a 12.05 metre core length at the Elmtree 12 vein system plus 0.64 grams per tonne gold over a 19.96 metre core length.

The company drilled 5 holes in the Elmtree 12 vein system since 2015, with this table including highlights from earlier drill holes.

The zinc equivalency calculations were based on June 14th metal prices.

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 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 0.733 million tonnes, with only partial metal grades reported.

The shares are trading at $0.075.

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 info@kayewynn.com

I’m Samantha Deutscher for Investmentpitch Media