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Great Atlantic discovers new gold bearing zone including 3.17 g/t gold over 0.70 metres at Keymet Property in New Brunswick

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Great Atlantic Resources (TSXV:GR) (FSE:PH02) has received gold assays and multi-element analyses for drill core samples from the first five holes of the 2021 diamond drilling program at its 100-owned Keymet Base Metal – Precious Metal Project, located in New Brunswick. Highlights from these first 5 holes include a new gold discovery, the Debler Zone, in drill hole Ky-21-25 including 3.17 g/t gold over 0.70 metres core length and polymetallic veins in hole Ky-21-27 at the Elmtree 12 Zone, including 7.02% zinc equivalent over 0.92 metres.

Additional Information:

Company: Great Atlantic Resources Corp
Website: https://greatatlanticresources.com/
Stock Symbol: TSXV:GR
Date Published: Apr 20, 2022
Transcript: Available

Video Transcript:

Great Atlantic Resources (TSXV:GR) (FSE:PH02) has received gold assays and multi-element analyses for drill core samples from the first five holes of the 2021 diamond drilling program at its Keymet Base Metal – Precious Metal Project, located in New Brunswick.

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 10-hole, 2,061 metre drilling program tested numerous target areas of polymetallic veins, untested electromagnetic geophysical anomalies, and areas of gold mineralization in the northwest region of the property.

Highlights from these first 5 holes include a new gold discovery, the Debler Zone, in drill hole Ky-21-25 including 3.17 g/t gold over 0.70 metres core length and polymetallic veins in hole Ky-21-27 at the Elmtree 12 Zone, including 7.02% zinc equivalent over 0.92 metres.

The hole numbering has been continued from previous drill programs.

Drill hole Ky-21-23 tested the area immediately east of a historic shaft at the Elmtree Silver Mine mineral occurrence.

In 2015, hole Ky-15-1 was drilled from the same site, but to the southwest under the shaft. It
intersected a narrow interval of sulfide bearing veins of which a 0.51m core length sample returned 9.53% Zn, 9.01% Pb, 0.48% Cu and 66 g/t Ag or 16.82% ZnEq.

Additional drilling is required to determine if the vein systems intersected in Ky-15-1 and Ky-21-23 correlate.

Drill hole Ky-21-24 tested an electromagnetic anomaly.

A 0.31-metre core length sample with sulfide stringers/ clusters returned anomalous values of 1.74% Zn, 1.52% Pb, .344% Cu, and 3.6 g/t Ag.

Drill hole K-21-25 tested the area of a gold-bearing outcrop, where a 2015 grab sample collected by Great Atlantic from the outcrop returned 1.14 g/t Au.

The hole intersected two gold bearing intervals representing new discoveries which returned 1.53 g/t Au over 0.63m and 3.17 g/t Au over 0.70m.

Drill hole Ky-21-26, which tested an area of polymetallic veins and gold bearing bedrock discovered by the company during 2015 and 2017, was collared approximately 30m north of a 2017 drill hole which intersected 18.8% Zn, 3.55% Cu, 1.16% Pb and 576 g/t Ag, or 38.1% ZnEq, over a 1.27m core length and a 2015 trench from which channel samples graded 1.11 g/t Au over 4.9m cumulative length.

Drill hole Ky-21-27, a definition hole, intersected the Elmtree 12 vein system.

A 0.92m core length sample returned 3.50% Zn, 3.26% Pb, 0.36% Cu, and 48.8 g/t Ag or 7.02% ZnEq.

This confirms the mineralized vein system is open at depth in this part of the zone.

Great Atlantic diamond drilling during 2015, 2017 and 2018 at the Elmtree 12 polymetallic vein system intersected high grade silver, copper and zinc mineralization in veins within a north-south trending, sub-vertical system.

Highlights included 9, 12 and 16% Zn, 7 and 9% Cu and 478 and 1,158 g/t Ag.

A previously discovered boulder from a float sample from 2011 returned 51 grams per tonne gold.

Channel samples from a gold-bearing zone exposed in a 2012 trench averaged 1.09 grams per tonne gold over 11.78 meters.

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 in 1956 due to a fire at the site.

Reported production at the Keymet Mine during 1954-1956 was 59,000 tonnes averaging 2.59% zinc, 2.44% lead, 0.25% copper and 33.94 g/t silver.

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 $0.21.

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.

For Investor Relations contact Andrew Job at 416-628-1560 or by email at IR@GreatAtlanticResources.com.