FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR FRA: PH02 Great Atlantic Discovers New Gold Bearing Zone 3.17 G/T Gold over 0.70 Meters Polymetallic Veins Including 7.02% Zinc EQ over 0.92 Meters
1
FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
FRA: PH02
Great Atlantic Discovers New Gold Bearing Zone
3.17 G/T Gold over 0.70 Meters
Polymetallic Veins Including 7.02% Zinc EQ over 0.92 Meters
At Its 100% Owned Keymet Precious & Base Metal Property, New Brunswick
VANCOUVER, British Columbia - April – 20th 2022 – GREAT ATLANTIC ESOURCES
CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it 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
northern New Brunswick . The drilling program , consisting of 1 0 holes (2,061 meters) tested
numerous targets in the northwest region of the property.
Highlights include a new gold discovery (Debler Zone) in drill hole Ky -21-25 including 3.17
grams / tonne (g/t) gold over 0.70 meters core length and polymetallic veins in hole Ky-21-27
(Elmtree 12 Zone) including 7.02% zinc equivalent over 0.92 meters core length.
2
Gold assays and multi-element analyses were received for drill core samples from holes Ky-21-23
to Ky -21-27 which tested areas of polymetallic veins , areas of gold mineralization and / or
electromagnetic geophysical anomalies. The hole numbering was continued from that of previous
Great Atlantic drill programs at the Keymet Property. Intersections (core length) from these holes
include:
Hole No. From (m) To (m) Length (m)
Au
(g/t)
Zn Equivalent
(%)
Zn
(%)
Pb
(%)
Cu
(%)
Ag
(g/t)
Ky-21-23 49.53 49.86 0.33 3.81 1.78 2.09 0.24 17.9
Ky-21-25 31.60 32.23 0.63 1.53
Ky-21-25 74.25 74.95 0.70 3.17
Ky-21-25 123.00 123.40 0.40 2.73 1.08 2.29 0.07 12.8
Ky-21-27 102.64 103.56 0.92 7.02 3.50 3.26 0.36 48.8
Drill hole Ky-21-23 tested the area immediately east of a historic shaft at the Elmtree Silver Mine
mineral occurrence. The shaft at this occurrence is reported to have been sunk during the late
1800s. Ky-21-23 was drilled approximately south at an approximate 50-degree dip testing the area
immediately east of the saft. The hole intersected a narrow interval with sulfide (pyrite, sphalerite,
galena and / or chalcopyrite) – carbonate – chlorite veins cutting altered meta-sediments. A 0.33-
meter core length sample (49.53-49.86 meters) through this interval returned 1.78% zinc, 2.09%
lead, 2400 ppm copper (0.24% Cu) and 17.9 ppm (g/t) silver or 3.81% zinc equivalent. A 2015
Great Atlantic drill hole (Ky-15-1) was drilled from the same site, but to the southwest under the
3
shaft. Ky-15-1 intersected a narrow interval of sulfide bearing veins of which a 0.51-meter core
length sample returned 9.53% zinc, 9.01% lead, 0.48% copper and 66 g/t silver (see Company
news release of February 23, 2016) or 16.82% zinc equivalent. 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 . It was drilled approximately east at an
approximate 50 -degree dip. A 0.31 -meter core length sample with sulfide stringers / clusters
returned anomalous values of 1,740 ppm zinc, 1,520 ppm lead, 344 ppm copper and 3.6 g/t silver.
Drill hole K -21-25 tested the area of a gold -bearing outcrop. A 20 15 grab sample collected by
Great Atlantic from the outcrop returned 1.14 g/t gold. The hole was drilled to the southwest at an
approximate 60-degree dip, approximately under the outcrop. This is the first drill hole by Great
Atlantic in this target. The hole intersected two gold bearing intervals representing new
discoveries with the following intercepts (core length):
• 31.60-32.23meters (0.63 meters): 1.53 g/t gold (altered meta-sediment with disseminated
arsenopyrite), being approximately under the gold bearing outcrop.
• 74.25-74.95 meters (0.70 meters): 3.17 g/t gold (altered metasediment with disseminated
arsenopyrite and arsenopyrite in quartz veins).
Of note, three samples covering the interval of 71.43 - 74.25 meters (2.82 meters core length) all
returned anomalous values for gold, with a weighted average of 0.25 g/t gold.
The Company is referring to the gold discovery in Ky-21-25 as the Debler Zone, named after the
prospector who initially sampled the gold bearing outcrop.
A 0.40-meter core length sample (123.00-123.40 meters) in Ky-21-25 with sulfide bearing veins
returned 1.08% zinc, 2.29% lead, 687 ppm copper (0.0687% Cu) and 12.8 g/t silver or 2.7 3%
zinc equivalent. This represents a new polymetallic vein discovery.
Drill hole Ky-21-26 tested an area of polymetallic veins and gold bearing bedrock discovered by
the Company during 2015 and 2017. The hole was collared approximately 30 meters north of a
2017 drill hole (Ky-17-8) which intersected 18.8% zinc, 3.55% copper, 1.16% lead and 576 g/t
silver over 1.27 meters core length or 38.1% zinc equivalent and a 2015 trench from which
channel samples graded 1.11 g/t gold over 4.9 meters cumulative length (see Company news
releases of October 29, 2015 and March 2, 2018). Hole Ky-21-26 was drilled approximately west
at an approximate 50-degree dip. A 1.40-meter core length interval returned anomalous gold vales,
averaging 0.12 g/t gold.
Drill hole Ky-21-27 is a definition hole at the Elmtree 12 polymetallic vein system. It was drilled
slightly northeast at a 70-degree dip, testing slightly deeper in the southern part of the Elmtree 12
polymetallic vein system. The Company drilled numerous holes during 2015-2018 within this vein
system, intersecting veins containing high grade zinc, copper and / or silver (see news releases on
the Company’s website). Ky-21-27 intersected the Elmtree 12 vein system ( sulfide being veins
with pyrite, sphalerite, galena and chalcopyri te). A 0.92 -meter core length sample (102.64-
103.56 meters) through this interval returned 3.50% zinc, 3.26% lead, 3610 ppm copper (0.361%
4
Cu) and 48.8 g/t silver or 7.02% zinc equivalent. This confirms the mineralized vein system is
open at depth in this part of the zone.
Previous Great Atlantic drill intersections (core length) at the Elmtree 12 polymetallic vein system
during 2015 - 2018 drilling programs include (see news releases on the Company’s website):
• Ky-15-3: 16.68% Zn, 1.11% Cu, 0.44% Pb and 152 g/t Ag over 1.80 meters.
• Ky-15-4: 8.68% Zn, 0.29% Cu, 0.20% Pb and 44 g/t Ag over 4.28 meters.
• Ky-17-6: 7.67% Zn, 1.57% Cu, 0.48% Pb and 209 g/t Ag over 4.95 meters.
• Ky-18-10: 7.91% Zn, 0.53% Cu, 0.21% Pb and 77 g/t Ag over 3.27 meters.
• Ky-18-12: 8.90% Zn, 3.81% Cu, 0.60% Pb and 157 g/t Ag over 1.20 meters.
• Ky-18-14: 9.04% Zn, 9.19% Cu, 2.16% Pb and 1,158 g/t Ag over 3.00 meters.
• Ky-18-14: 12.08% Zn, 0.31% Cu, 0.30% Pb and 59 g/t Ag over 4.50 meters.
The 2021 drilling program consisted of 10 drill holes (Ky -21-23 to KY -21-32). Significant
mineralized intervals (with base metal sulfides and arsenopyrite) were sampled with half core
samples and blank and standard samples submitted to ALS Canada Ltd. for gold assay and multi-
element analysis (including zinc, copper, lead , and silver). ALS Canada Ltd. is independent of
Great Atlantic. Gold assay was by fire assay – AA while multi-element analysis was by four acid
digestion – ICP-AES analysis. The 2021 drilling program and 2015-2018 programs were managed
5
by a Qualified Person. Analytical results are pending for core samples from drill holes Ky-21-28
to Ky-21-32.
Historic gold bearing samples and gold soil anomalies referred to in the preceding map have not
been verified by a Qualified Person.
Zinc equivalent (% Zn Equiv.) values stated in this news release are based on the following metal
prices (as of April 14, 2022): Zinc US $4, 471 / tonne (US $2.028 / lb.), Lead US $2,4 70 / tonne
(US $1.120 / lb.), Copper US $10,2 76 / tonne (US $4.66 1 / lb.) and Silver US $25. 53 per troy
ounce. Metal recoveries of 100% were applied in the zinc equivalent calculations. The zinc
equivalent calculation is as follows: Zn Equiv. = 100 x ((Ag Price in grams x Ag Grade) + (Pb
Price x 2204.6 x Pb Grade (%) / 1 00) + (Cu Price x 2204.6 x Cu Grade (%) / 100) + (Zn Price x
2204.6 x Zn Grade (%) / 100)) / Zn Price x 2204.6.
6
Historic Keymet Base Metal - Silver Mine (1950s)- burnt down and was never recapitalized
Located 8KM away from the previous operating
Nigadoo Mine that operated for over twenty years
The Keymet Property covers an area of approximately 3,400 hectares and is 100% owned by the
Company.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador) , a Qualified Person as
defined by NI 43 -101 and VP Exploration for Great Atlantic, is responsible for the technical
information contained in this News Release.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
Investor Relations: Andrew Job 1-416-628-1560 IR @ GreatAtlanticResources.com
7
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 Atla ntic 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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
This press release includes certain statements that may be deemed “forward -looking statements”.
All statements in this release, other than statements of historical facts, that address future
exploration drilling, exploration activities and events or developments that the Company expects,
are forward looking statements. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ materially from
those in forward -looking statements. Factors that could cause actual results to differ materially
from those in forward -looking statements include exploitation and exploration successes,
continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Great Atlantic Resource Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4