Great Atlantic Receives Diamond Drilling Permit and $40,000 Exploration Grant For its 100% owned Keymet Base - Previous Metal Project
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Great Atlantic Receives Diamond Drilling Permit
and $40,000 Exploration Grant
For its 100% owned Keymet Base - Previous Metal Project
Bathurst, New Brunswick
___________________________________________________________________
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
(FRA: PH01)
VANCOUVER, British Columbia – June 18 , 201 8 - GREAT ATLANTIC RESOURCES CORP.
(TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received a diamond
drilling permit (up to 15 holes) and a $40,000 exploration grant from the New Brunswick government for
its Keymet Precious - Base Metal Property, located near Bathurst, northeast New Brunswick . The
Company is planning diamond drilling beginning in July 2018 in the northwest region of the Property to
define polymetallic veins (zinc, lead, copper and silver bearing) and a explore a gold bearing zone
discovered during 2017 drilling. Great Atlantic ’s 2017 drilling highlights from this region included
37.32% zinc equivalent over 1.27 meters core length (new vein discovery) and 7.76% zinc equivalent
over 12.05 meter core length at the Elmtree 12 vein system (using metal prices at June 14, 2018) plus 0.64
g/t gold over 19.96 meter core length (new gold discovery) . Drilling will focus in the Elmtree 12 vein
system to provide additional data for a planned maiden resource estimate.
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The upcoming diamond drilling program will be conducted in the northwest region of the property in the
area of the polymetallic Elmtree 12 vein system and an adjacent polymetallic vein which was discovered
in 2017. These polymetallic veins contain significant levels of zinc, copper, lead and silver. The 2018
program will test these polymetallic veins along strike and depth . The Company has drilled five holes in
the Elmtree 12 veins system since 2015. The 2018 drill program will provide additional data for a planned
maiden resource estimate on the Elmtree 12 vein system. The Com pany also discovered a new gold
bearing zone adjacent to the Elmtree 12 vein system during 2017 drilling , being hosted in arsenopyrite
bearing meta-sedimentary rocks. Drilling is also planned to test this zone. The drilling program will be
partly funded th rough a $40,000 grant received from the New Brunswick government under the Junior
Mining Assistance Program. Highlights of previous drilling by the Company in this area include the
following (as reported in News Releases of October 29, 2015, February 23, 2016, December 20, 2017 and
March 2, 2018 with up-dated zinc equivalent based on metal prices at June 14, 2018:
Hole Ky-15-3 (Elmtree 12): 16.68% Zn, 1.11% Cu, 0.44% Pb & 152 g/t Ag / 1.80 meter core length
(22.06% Zn Equiv. / 1.80 meter core length)
Hole Ky-15-4 (Elmtree 12): 8.68% Zn, 0.29% Cu, 0.20% Pb & 44.8 g/t Ag / 4.28 meter core length
(10.23% Zn Equiv. / 4.28 meter core length)
Hole Ky-17-5 (Elmtree 12): 5.43% Zn, 0.45% Cu, 0.19% Pb & 60 g/t Ag / 2.75 meter core length
(7.59% Zn Equiv. / 2.75 meter core length)
Hole Ky-17-6 (Elmtree 12): 3.54% Zn, 0.92% Cu, 0.28% Pb & 115 g/t Ag / 12.05 meter core length
(7.76 % Zn Equiv. / 12.05 meter core length)
& 0.64 g/t Au over 19.96 meter core length (new gold discovery).
Hole Ky-17-8 (2017 discovery): 18.80% Zn, 3.55% Cu, 1.16% Pb & 576 g/t Ag / 1.27 meter core length
(37.32% Zn Equiv. / 1.27 meter core length)
Elmtree 12 Vein System: Polymetallic Vein in Ky-17-6
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Keymet Northwest Region: 2015 and 2017 Diamond Drilling Plan
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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 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 Keymet Property. The
Elmtree gold deposit s 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 grade s
reported). The shaft is reported to at least 470 meter deep.
Historic Keymet Mine (1950s)
Readers are warned that mineralization at the Elmtree gold deposits and historic Nigadoo River Mine is
not necessarily indicative of mineralization on the Keymet Property.
Access to the Keymet Property is excellent with paved roads transecting the prope rty, 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.
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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.
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. True
thickness of these intersections is unknown at this time.
Zinc equivalent (% Zn Equiv.) values for drill hole intersections are based on the following metal prices
(as of June 14, 2018 ): Zinc US$3, 227 / tonne (US$1. 4638 / lb.), Lead US$2,4 59 / tonne (US$1. 1154 /
lb.), Copper US$7,201 / tonne (US$3.2664 / lb.) and Silver US$16.95 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 Grade (%) / 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
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 r isk-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 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 futu re 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 assump tions, 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 st atements 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