Great Atlantic Completes 2018 Diamond Drilling Program at its 100% owned Keymet Base - Previous Metal Project
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Great Atlantic Completes 2018 Diamond Drilling Program
at its 100% owned Keymet Base - Previous Metal Project
Bathurst, New Brunswick
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
(FRA: PH01)
VANCOUVER, British Columbia – September 1 9, 201 8 - GREAT ATLANTIC
RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to
announce it has completed the 2018 diamond drilling program at its Keymet Precious - Base
Metal Property, located near Bathurst, northeast New Brunswick. The program was conducted
in the northwest region of the property exploring the area of the Elmtree 12 polymetallic vein
system and an adjacent polymetallic vein . A total of 13 holes were completed totalling 1,484
meters. The drill core is currently being geologically logged with samples being cut for multi -
element analysis.
Vein with semi-massive sulfides (including Sphalerite & Chalcopyrite)
in Drill Hole Ky-18-14 at Elmtree 12 Vein System
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The 2018 drilling program focussed on the Elmtree 12 vein system. Eleven drill holes tested this
zone as in-fill drilling and along strike and deeper than previous intersections. Two holes 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 (18.8% Zn, 3.5% Cu and 576 g/t Ag over
1.27 meter core length). Drill core from the current program is b eing geologically logged and
sampled at a secure location in Miramichi, New Brunswick. Sampling includes intervals
containing base metal sulfide bearing veins and intervals with arsenopyrite for gold analysis.
Sulfide Bearing Veins in Drill Hole Ky-18-14 at Elmtree 12 Vein System
Prior to the 2018 program, Great Atlantic had drilled six holes in the Elmtree 12 veins system
during 2015 and 2017. Significant intersections included (core length in meters).
Ky-15-3: 16.68% Zn, 1.11% Cu, 0.44% Pb & 152 g/t Ag over 1.80m
(22.91% Zn Equiv. over 1.80m)
Ky-15-4: 8.68% Zn, 0.29% Cu, 0.20% Pb & 44.8 g/t Ag over 4.28m
(10.48% Zn Equiv. over 4.28m)
Ky-17-5: 5.43% Zn, 0.45% Cu, 0.19% Pb & 60 g/t Ag over 2.75m
(7.92% Zn Equiv. over 2.75m)
Ky-17-6: 3.54% Zn, 0.92% Cu, 0.28% Pb & 115.6 g/t Ag over 12.05m
(8.41% Zn Equiv. over 12.05m)
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The Company also discovered a new gold bearing zone adjacent to the Elmtree 12 vein system
during 2017 drilling (0.64 g/t gold over 19.96 meter core length) , being hosted in arsenopyrite
bearing meta -sedimentary rocks. Arsenopyrite bearing interval s in 2018 drill core are being
sampled for gold analysis.
Keymet Northwest Region (Elmtree 12 Vein System Area)
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North-South (Longitudinal) Cross Section of the Elmtree 12 Vein System showing 2015 and
2017 Drill Holes
The Company’s focus since acquiring the Keymet Property has been the northwest region of the
property in the area of reported polymetallic veins with most work in the area of the Elmtree 12
copper-lead-zinc-silver bearing vein system. At least seven vein o ccurrences with lead, zinc and
+/- copper, silver and gold are reported in this region of the property in addition to the
polymetallic veins reported at the historic Keymet Mine (source: New Brunswick Dept. of
Energy and Resource Development Mineral Occurr ence Database). The Keymet Mine operated
during the mid -1950s, producing copper, lead, zinc and silver. Production at this mine was
terminated due to a fire at the site.
Significant precious metal - base metals deposits are reported within 4 km of the K eymet
Property. The Elmtree gold deposits are located within 3 km west -southwest of the Keymet
Property. The historic Nigadoo River Mine is located approximately 4 km south of the Keymet
Property. Polymetallic massive sulfide veins were mined at the Nigado o River Mine during the
1960s and 1970s with copper, lead, zinc and silver being produced. The N.B Dept. of Energy and
Resource Development Mineral Occurrence Database reports shaft depth and production totals at
this historic mine. Production during 1967 - 1971 is reported as 1.126 million tonnes at 2.2% Pb,
2.1% Zn, 0.24% Cu and 92.57 g/t Ag. Production during 1973 - 1977 (after a 2 year closure) is
reported to be 0.733 million tonnes (only partial metal grades reported). The shaft is reported to
at least 470 meter deep.
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Historic Keymet Mine (1950s)
The Nash Creek Zinc Project of Callinex Mines Inc. is located approximately 15 kilometers
northwest of the Keymet Property. Callinex Mines Inc. recently filed a 43-101 Technical Report
(effective date March 21, 2018) which was completed by Tetra Tech Canada Inc. The report
includes updated mineral resource estimates for the Nash Creek Zinc Project (Hickey and Hayes
Zones) using a 1.5% ZnEq cut -off. This included 1 3,592,000 tonnes indicated estimated
resources at 2.68% Zn, 0.58% Pb and 17.8 g/t Ag ; and 5,929,000 tonnes inferred estimated
resources at 2.68% Zn, 0.47% Pb and 13.9 g/t Ag (source: Callinex Mines Inc. website).
Readers are warned that mineralization at t he Elmtree gold deposits , historic Nigadoo River
Mine and Nash Creek Zinc Project is not necessarily indicative of mineralization on the Keymet
Property.
Access to the Keymet Property is excellent with paved roads transecting the property, including
a provincial highway. The property covers an area of approximately 3,400 hectares and is 100%
owned by the company.
Readers are warned that historical records referred to in this News Release have been examined
but not verified by a Qualified Person. Further work is required to verify that historical records
referred to in this News Release are accurate.
David Martin, P.Geo., 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.
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A Qualified Person has verified th e 2015 and 2017 exploration data for Great Atlantic. The
Qualified Person managed the 2015 and 2017 exploration programs for Great Atlantic at the
Keymet Property. A Qualified Person managed the 2018 drilling program and is managing the
current core logging and sampling program.
Zinc equivalent (% Zn Equiv.) values for drill hole intersections are based on the following metal
prices (as of September 14 , 2018 ): Zinc US$ 2,327 / tonne ( US$1.05 / lb.), Lead US$ 2,049 /
tonne (US$0.93 / lb.), Copper US$ 5,946 / tonne (US$ 2.70 / lb.) and Silver US$ 14.11 per troy
ounce. Metal recoveries of 100% were applied in the zinc equivalent calculations. The zinc
equivalent calculation is as follows: Zn Eq. = 100 x ((Ag Price in grams x Ag Grade) + (Pb Price
x 2204.6 x Pb Grade (%) / 100) + (Cu Price x 2204.6 x Cu G rade (%) / 100) + (Zn Price x
2204.6 x Zn Grade (%) / 100)) / Zn Price x 2204.6.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R Anderson " Always be positive, strive for solutions, and never give up "
President CEO Director
604-488-3900 – Dir
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Investor Relations:
Kaye Wynn Consulting Inc.: 604-558-2630, Toll Free –888-280-8128
E-mail: [email protected]
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 Atlantic is current ly 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, Antimony, Tungsten and Gold.
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 di ffer 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