VANCOUVER, BC / ACCESSWIRE / March 28, 2024 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed geophysical surveys at its Keymet Precious Metal – Base Metal Property, located in northeast New Brunswick.
The geophysical surveys consisted of ground magnetometer and very-low-frequency (VLF) surveys in the west-central to central regions of the property including an area of gold soil geochemical anomalies.
The ground magnetometer and VLF geophysical surveys were completed during the second half of March. The surveys covered an area of approximately 2 by 0.6 kilometers with the western part of the survey area covering a zone of gold soil geochemical anomalies identified by the Company during 2021-2022 programs (see Company news release of March 23, 2023). The 2021-2022 soil geochemical sampling defined a zone of gold soil anomalies approximately 200 meters
y 200-500 meters of which 39 of 44 samples from this zone returned anomalous values of 0.005-0.067 parts per million (ppm) gold (5-67 parts per billion (ppb)), establishing a priority target area for Great Atlantic. The objectives of the geophysical surveys were to assist in interpreting bedrock geology and to identify anomalies that could represent potential gold-bearing structures and trenching – diamond drilling targets. Great Atlantic is awaiting results from the surveys.
The combined 2021 – 2023 programs (prospecting and rock – soil geochemical sampling) has identified an approximately 1.5 kilometers long northeast-southwest target trend with local gold soil anomalies and local highly anomalous gold in glacial float and bedrock adjacent to the Melanson Brook Fault in the west-central region of the property (see Company news release of March 22, 2024). The March 2024 geophysics surveys overlapped the east part of this trend. Company management have found no reports of diamond drilling within this target area.
Gold deposits occur approximately 1.6-2.4 kilometers southwest of the southwest region of the Keymet Property. These deposits are referred to as the West Gabbro Zone, South Gold Zone and Discovery Zone (New Brunswick Department of Natural Resources and Energy Development, Mineral Occurrence Database; and Murahwi et al., 2011). Great Atlantic has no interest in these deposits. Readers are warned that mineralization at the West Gabbro Zone, South Gold Zone and Discovery Zone is not necessarily indicative of mineralization on the Keymet Property.
The Keymet property covers an area of approximately 3,340 hectares and is 100% owned by the Company. The historic Keymet Mine is located in the northwest region of the property. The mine operated during the mid-1950s, producing lead, zinc, copper and silver. Production at this mine was terminated in 1956 due to a fire at the site.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), 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. Historic results stated on the Keymet Property map (stars 3, 4 and 5) in this news release have not been verified by a Qualified Person.
On Behalf of the board of directors
“Christopher R Anderson“
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.comÂ
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 the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
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
