VANCOUVER, British Columbia, April 21, 2022 (GLOBE NEWSWIRE) -- Great Atlantic Resources (TSXV:GR) (FSE:PH02) 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 100%-owned Keymet Base Metal – Precious Metal Project, located in New Brunswick. The 10-hole, 2,061 metre drilling program tested numerous target areas of polymetallic veins, untested electromagnetic geophysical anomalies, and areas of gold mineralization in the northwest region of the property.
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Highlights from these first 5 holes include a new gold discovery, the Debler Zone, in drill hole Ky-21-25 including 3.17 g/t gold over 0.70 metres core length and polymetallic veins in hole Ky-21-27 at the Elmtree 12 Zone, including 7.02% zinc equivalent over 0.92 metres. The hole numbering has been continued from previous drill programs.
Drill hole Ky-21-23 tested the area immediately east of a historic shaft at the Elmtree Silver Mine mineral occurrence. In 2015, hole Ky-15-1 was drilled from the same site, but to the southwest under the shaft. It intersected a narrow interval of sulfide bearing veins of which a 0.51m core length sample returned 9.53% Zn, 9.01% Pb, 0.48% Cu and 66 g/t Ag or 16.82% ZnEq. 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. A 0.31-metre core length sample with sulfide stringers/ clusters returned anomalous values of 1.74% Zn, 1.52% Pb, .344% Cu, and 3.6 g/t Ag.
Drill hole K-21-25 tested the area of a gold-bearing outcrop, where a 2015 grab sample collected by Great Atlantic from the outcrop returned 1.14 g/t gold. The hole intersected two gold bearing intervals representing new discoveries which returned 1.53 g/t gold over 0.63 metres and 3.17 g/t gold over 0.70 metres.
Drill hole Ky-21-26, which tested an area of polymetallic veins and gold bearing bedrock discovered by the company during 2015 and 2017, was collared approximately 30m north of a 2017 drill hole which intersected 18.8% zinc, 3.55% copper, 1.16% lead and 576 g/t silver, or 38.1% ZnEq, over a 1.27 metre core length and a 2015 trench from which channel samples graded 1.11 g/t gold over 4.9 metres cumulative length.
Drill hole Ky-21-27, a definition hole, intersected the Elmtree 12 vein system. A 0.92 metre core length sample returned 3.50% zinc, 3.26% lead, 0.36% copper, and 48.8 g/t silver or 7.02% ZnEq. This confirms the mineralized vein system is open at depth in this part of the zone.
The Keymet Property hosts the historic Keymet Mine, located in the northwest region of the property. The Keymet Mine operated during the mid-1950s, producing copper, lead, zinc and silver before production was terminated in 1956 due to a fire at the site. Reported production at the Keymet Mine during 1954-1956 was 59,000 tonnes averaging 2.59% zinc, 2.44% lead, 0.25% copper and 33.94 g/t silver.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
The shares are trading at $0.21. For more information, please visit the company’s website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.
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