Great Atlantic Drilling Intersects 7.89% Zinc EQ Over 34.3 Meters 100% Owned Keymet Base Metal - Precious Metal Project FOCUSED ON EXPLORING ATLANTIC CANADA
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Great Atlantic Drilling Intersects
7.89% Zinc EQ Over 34.3 Meters
100% Owned Keymet Base Metal - Precious Metal Project
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
(FRA: PH01)
VANCOUVER, British Columbia – January 18, 2019 - GREAT ATLANTIC RESOURCES
CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has
received drill core analytical results for 13 holes (Ky -18-10 to Ky -18-22) completed during the
2018 diamond drilling program at its Keymet Base Metal - Precious Metal Property, located
near Bathurst, northeast New Brunswick. The program was conducted in the northwest region of
the property approximately 1.5 km northwest of the historic Keymet Mine . Highlights include
(core length):
• Ky-18-14: 7.89% zinc equivalent over 34.3 meters (From 46.20 m to 80.50 m)
• Ky-18-10: 10.91% zinc equivalent over 3.27 meters (From 85.03m to 88.30 m)
• Elmtree 12 vein: System traced to approximately 145 meters depth, open at depth
• Elmtree 12 vein: Strike length of approximately 110 meters and open along strike
Vein with semi-massive sulfides in Drill Hole Ky-18-14 at Elmtree 12 Vein System
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The 2018 drilling program (13 holes totalling 1,484 meters) was conducted in the northwest region
of the Keymet property. Eleven drill holes (Ky-18-10 to Ky-18-18, Ky-18-21 and Ky-18-22) tested
the Elmtree 12 vein system as in-fill drilling and along strike with some holes testing deeper than
previous drilling. Company management speculate the Elmtree 12 vein system to be striking
approximately north-south and sub-vertical. Great Atlantic had previously drilled six holes in the
Elmtree 12 vein system during 2015 and 2017, intersecting zinc, copper, lead and silver bearing
polymetallic veins (News Releases of February 23, 2016, December 20, 2017 and March 2, 2018).
Two drill holes (Ky-18-19 and Ky-18-20) tested the continuation of another base metal and silver
bearing vein southwest of the Elmtree 12 vein system. This vein was discov ered during 2017
drilling (Ky-17-8: 18.8% Zn, 3.5% Cu and 576 g/t Ag over 1.27 meters core length - News Release
of March 2, 2018).
Sulfide Bearing Veins in Drill Hole Ky-18-14 at Elmtree 12 Vein System
Intersections from 2015, 2017 and 2018 diamond d rilling programs in the area of the Elmtree 12
vein system include the following (core length):
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Hole ID From (m) To (m)
Length
(m)
Zn Equiv.
(%)
Zn
(%)
Cu
(%)
Pb
(%)
Ag
(g/t)
Au
(g/t)
2015 Diamond Drill Holes:
Ky-15-3 30.10 32.20 2.10 3.28
Ky-15-3 60.80 62.60 1.80 22.77 16.68 1.11 0.44 152
Ky-15-4 90.07 94.35 4.28 10.44 8.68 0.29 0.2 44.8
2017 Diamond Drill Holes:
Ky-17-5 81.00 81.80 0.80 20.24 13.65 1.20 0.45 166
Ky-17-6 119.45 131.50 12.05 8.31 3.54 0.92 0.28 115.6
Ky-17-6
incl.
119.45 124.40 4.95 16.05 7.67 1.57 0.48 209.3
Ky-17-6 148.80 149.75 0.95 4.9
Ky-17-6 164 183.96 19.96 0.64
Ky-17-8 31.00 32.27 1.27 39.90 18.8 3.55 1.16 576
Ky-17-9 45.75 47.13 1.38 6.29 4.29 0.29 0.23 55.4
2018 Diamond Drill Holes:
Ky-18-10 85.03 88.30 3.27 10.91 7.91 0.53 0.21 77.2
Ky-18-10 incl. 85.74 86.74 1.00 25.59 16.80 1.60 0.55 223
Ky-18-11 108.70 109.40 0.70 4.95 3.89 0.11 0.14 33.9
Ky-18-12 78.82 84.55 5.73 7.88 4.07 1.19 0.23 39.2
Ky-18-12 incl. 78.82 79.64 0.82 14.03 10.90 1.07 0.09 24.8
Ky-18-12 incl. 83.35 84.55 1.20 21.65 8.90 3.81 0.60 157
Ky-18-13 80.00 81.00 1.00 1.76
Ky-18-14 46.20 80.50 34.30 7.89 3.29 0.88 0.26 112.6
Ky-18-14 incl. 46.20 49.20 3.00 56.23 9.04 9.19 2.16 1158
Ky-18-14 incl. 62.48 63.00 0.52 18.49 15.45 0.96 0.13 32
Ky-18-14 incl. 67.00 67.60 0.60 13.59 13.05 0.09 0.05 14
Ky-18-14 incl. 76.00 80.50 4.50 14.27 12.08 0.31 0.30 59.8
Ky-18-16 77.20 77.72 0.52 33.48 4.47 7.85 0.72 478
Ky-18-17 10.43 11.00 0.57 11.72 6.37 0.10 6.08 14.5
Ky-18-17 67.00 67.50 0.50 7.23 6.05 0.21 0.15 27.5
Ky-18-18 72.50 73.50 1.00 2.74 2.04 0.09 0.11 19.6
Ky-18-19 13.02 13.72 0.70 1.05
Ky-18-20 32.00 32.28 0.28 10.75 2.39 1.82 0.87 164
Ky-18-21 145.50 147.00 1.50 8.26 2.31 0.89 0.81 156.6
Zinc equivalent (% Zn Equiv.) values for drill hole intersections are based on the following metal
prices (as of January 16, 2019): Zinc US$2,467 / tonne (US$1.119 / lb.), Lead US$1,953 / tonne
(US$0.886 / lb.), Copper US$5,881 / tonne (US$2.668 / lb.) and Silver US$15.605 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 (%) / 100) + (Cu Price x 2204.6 x Cu Grade (%) / 100) + (Zn Price x 2204.6 x Zn
Grade (%) / 100)) / Zn Price x 2204.6.
Drill holes Ky-18-10 to Ky-18-13 were in-fill holes drilled east to slightly southeast at 4 5 to 57
degree dips. Drill holes Ky-18-14, Ky-18-21 and Ky-18-22 were collared closer to the vein system
and at steeper dips (78 -83 degrees) to intersect the vein system at a shallower angle to test
continuity of mineralization along dip, locate possible ore shoots and gain a structural
understanding of the vein's vertical and horizontal orientations / extensions for targeted follow-up
drilling. Hole Ky -18-21, drilled under Ky -18-14, tested the zone deeper. The mineralized
intersection at 145.5 -147 meters in this hole is the deepest intersection by the Company in the
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Elmtree 12 vein system and indicates the system is open at depth at this location. This interval also
returned anomalous values for cobalt, including 0.07% Co over 1.0 meter core length.
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The meta-sediments in the lower half of Ky-18-22 are intruded my mafic dykes, possibly cutting
the vein system.
Drill holes Ky-18-15 and Ky-18-16 tested the extension of the Elmtree 12 vein system to the north.
Ky-18-15 was drilled slightly northwest (app roximate 55 degree dip). Ky -18-16 was drilled
slightly southwest (approximate 73 degree dip). The metal rich intersection in Ky-18-16 indicates
the mineralized system is open to the north at slightly deeper levels.
Drill holes Ky-18-17 and Ky-18-18 tested the Elmtree 12 vein system south of previous Company
drilling. Mineralized veins and / or alteration was intersected in both holes, indicating the
mineralized system to be open to the south.
Drill holes Ky-18-19 and Ky-18-20 were located southwest of the known extent of the Elmtree 12
vein system. These holes tested the extension of the high grade vein intersected in 2017 hole Ky -
17-8. Ky-18-19 was drilled slightly northwest at an approximate 66 degree dip to intersect the vein
deeper. Hole Ky-18-19 did not confirm the down-dip extension of the mineralized vein. Hole Ky-
18-20 was drilled southwest at an approximate 55 degree dip. This hole intersected a near-surface
narrow copper, lead, zinc and silver bearing zone (approximate 26 meters vertical depth)
approximately 10 meters south of the high grade vein intersection of hole Ky-17-8.
Drill core from the 2018 program was geologically logged and sampled at a secure location in
Miramichi, New Brunswick. Drill core samples were submitted to ALS Canada for gold analysis
(Fire Assay-AA) and for 33 element analysis (including copper, lead, zinc and silver) by Four Acid
and ICP -AES. Samples exceeding 1,500 g/t silver were re -analyzed for silver by Fire Assay -
Gravimetric Finish. Quality Control samples were includ ed as part of the sample submission. A
Qualified Person verified the 2015, 2017 and 2018 exploration data for Great Atlantic. The
Qualified Person managed these exploration programs at the Keymet Property.
Historic Keymet Mine (1950s)
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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 occurrences wit h 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 Occurrence 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 metal deposits are reported within 4 km of the Keymet 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 Nigadoo 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.
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 Cana da Inc. The report
includes updated mineral resource estimates for the Nash Creek Zinc Project (Hickey and Hayes
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Zones) using a 1.5% Zn Equiv. cut -off. This included 13,592,000 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 the 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.
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
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 currently surging forward building the
company utilizing a Project Generation model, with a special focus on the most critical elements on t he 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 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