Vancouver, British Columbia--(Newsfile Corp. - July 31, 2018) - Great Atlantic Resources (TSXV:GR) (FSE: PH01) has started its 2018 diamond drill program at its Keymet Precious — Base Metal Property. The 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 program is being conducted in the northwest region of the property with the objective of defining polymetallic veins (zinc, lead, copper and silver bearing) and exploring a gold bearing zone discovered during 2017 drilling. The New Brunswick government is providing a $40,000 exploration grant under the Junior Mining Assistance Program.
Highlights from the 2017 program included 38.96% zinc equivalent over a 1.27 metre core length in a new vein discovery and 8.10% zinc equivalent over a 12.05 metre core length at the Elmtree 12 vein system plus 0.64 grams per tonne gold over a 19.96 metre core length at a new gold discovery.
Great Atlantic has drilled six holes in the Elmtree 12 veins system since 2015, with the current drill program providing additional data for a planned maiden resource estimate on the Elmtree 12 vein system.
This table includes highlights from earlier drill holes, with the zinc equivalency calculations based on July 26th metal prices.
To view an enhanced version of Table 1, please visit: [http://orders.newsfilecorp.com/files/2189/36278_a1533046089708_90.jpg]
Since acquiring the Keymet Property, the company has focused on the northwest region of the property. At least 7 vein occurrences with lead, zinc, frequently with copper, silver and gold have been reported in this region of the property in addition to the polymetallic veins reported at the historic Keymet Mine.
Great Atlantic has explored 2 of these vein occurrences, the Elmtree Silver Mine veins and adjacent areas, northwest of the historic Keymet Mine, which operated during the mid-1950s, producing copper, lead, zinc and silver, until production was terminated due to a fire. Significant precious metal — base metals deposits are reported within 4 kilometres of the Keymet Property, with the Elmtree gold deposits located within 3 kilometres of the Keymet Property.
The historic Nigadoo River Mine is located approximately 4 kilometres south of the Keymet Property, where polymetallic massive sulfide veins were mined during the 1960s and 1970s with copper, lead, zinc and silver being produced. The New Brunswick Department of Energy and Resource Development Database reports shaft depth of 470 metres and production totals at this historic mine. Production during 1967 — 1971 is reported as 1.126 million tonnes at 2.2% lead, 2.1% zinc, 0.24% copper and 92.57 grams per tonne silver. Following a 2 year closure, production during 1973 — 1977 is reported to be 0.733 million tonnes, with only partial metal grades reported.
Callinex Mines recently filed a NI 43-101 for its Nash Creek Project located approximately 15 kilometers northwest of Great Atlantic's Keymet Property. Using a 1.5% zinc equivalent cut-off, Callinex reported approximately 13.6 million tonnes indicated resources at 2.68% zinc, .58% lead and 17.8 grams per tonne silver, and 5.9 million tonnes inferred resources at 2.68% zinc, .47% lead and 13.9 grams per tonne silver.
For more information, please visit the company's website www.greatatlanticresources.com. Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email email@example.com.
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