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Great Atlantic Resources $GR.ca – Central Banks See Ravenous Demand For Gold In Q2 To Protect Against Looming Risks $OM.ca $GGX.ca $GWM.ca $CNX.ca $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 9:40 AM on Thursday, August 1st, 2019

SPONSOR: Great Atlantic Resources Corp (TSX-V: GR) Great Atlantic Resources. 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, Antimony, Tungsten and Gold. Click Here for More Info

  • Central banks’ insatiable appetite for gold dominated the marketplace between April and June, according to the latest data from the World Gold Council
  • Global gold demand totaled 1,123 tonnes in the second quarter, up 8% from the second quarter of 2018.
  • For the first half of the year, physical gold demand rose of 2,181.7 tonnes, its highest level in three years.

(Kitco News) – Central banks’ insatiable appetite for gold dominated the marketplace between April and June, according to the latest data from the World Gold Council (WGC).

In its second-quarter Gold Demand Trends report, the council said that central banks bought a total of 224 tonnes of gold between April and June. Official gold reserves increased by 374.1 tonnes in the first half of the year — “the largest net H1 increase in global gold reserves in our 19-year quarterly data series,” the analysts said in the report.

“Buying was again spread across a diverse range of – largely emerging market – countries,” the WGC said.

The WGC said that nine central banks bought gold in the first half of the year.

“Central banks, like other investors, sought safety in gold as they looked to protect themselves in the face of many looming risks,” the analysts said.

The report said that global gold demand totaled 1,123 tonnes in the second quarter, up 8% from the second quarter of 2018. For the first half of the year, physical gold demand rose of 2,181.7 tonnes, its highest level in three years.

The report highlighted renewed strength in key sectors of the gold market. In particular, gold jewelry demand in India increased by 12% to 168.8 tonnes, compared to the second quarter of 2018. This was the best year-over-year quarterly increase since the second quarter of 2017.

“Indian demand was boosted early in the quarter by the wedding season and festival buying, before slowing sharply as the gold price rallied in June,” the report said.

The WGC noted that India’s gold demand faces strong headwinds as purchases have come to a “virtual standstill.”

“The slowing economic environment and restrictions on the movement of cash during the elections were a drag on demand in April and May,” the report said.

The India gold market was also hit with higher tariffs in early July with import duties rising to 12.5% from 10%.

“Although we do not expect this to have a long-term impact on gold demand in India, we do see it having a dampening impact on Q3, particularly as gold prices have remained elevated,” the WGC said.

While India saw strong growth in the second quarter, the world’s largest gold consuming nation saw its third consecutive quarterly drop. The WGC said that Chinese jewelry demand dropped by 4% in Q2 to 137.8 tonnes.

“Demand ground to a halt once the June price rally began and retailer’s promotional efforts could not tempt consumers back. Reportedly, showrooms were deserted as the quarter came to a close,” the analysts said.

ETF Investment Demand Remains Robust

The second quarter started on a sour note for gold investors but ended with a bang, according to the report. Renewed interest in gold-backed exchange-traded products led the investment surge, increasing by 67.2 tonnes in the second quarter an increase of 99% from the second quarter of 2018.

The gains were predominantly seen in June as the month saw inflows of 126.7 tonnes, reversing April’s outflows of 57.2 tonnes. The WGC said that total hold holding reached a six-year high of 2,548 tonnes in the first half of the year.

“Geopolitical uncertainty, dovish monetary policy commentary by central banks, and a rising gold price were among the key factors that drove investors to increase their holdings,” the analysts said.

The WGC highlighted the growing trend of European and U.K. investors leading the way in the gold market. It noted that U.K.-listed funds accounted for 75% of all global inflows during the second quarter.

“Investors sought the safe haven of gold amid the uncertainty surrounding Brexit and the leadership battle that followed Theresa May’s resignation as Prime Minister,” the analysts said. “The sharp drop in the value of the pound also fueled inflows during the quarter as the U.K.’s growth prospects were cut following repeated failures in Brexit negotiations.”

The WGC added that historic negative bond yields in German bonds also added to gold’s investment appeal.

Lackluster Coin and Bar Demand

Although investors have been jumping into gold-backed ETFs, interest in physical gold was fairly muted. The WGC said that gold coin and bar demand dropped 12% in Q2 to 476.9 tonnes, the lowest level since 2009. They noted that June’s sharp price rally has weighed on physical demand.

“This market has been struggling for some time, with many traditional gold investors focused on America’s healthy economic growth, low unemployment, and continued wage growth,” the WGC said. “The gold price rally in June triggered selling by some investors, and coin premiums in the secondary market fell to their lowest level since before the global financial crisis, spurring gold exports from the US to Germany.”

Tech Sector Sees Lower Gold Demand

Although not a significant factor for the physical gold market, analysts said that the tech sector saw gold demand drop by 3% in the second quarter to 81.1 tonnes.

“This was the third consecutive quarter of falling demand, due to a range of challenges in the electronics sector, including the ongoing trade dispute between China and the US. However, there are signs of recovery and we expect declines to continue to slow throughout H2 2019,” the WGC said.

Gold Supply Rises Due To Record Production

The council noted that robust gold demand is being met with strong production; the analysts said that gold supply increased by 6% in the second quarter to 1,186.7 tonnes. The supply was led by record gold production between April and June.

The WGC added that gold production increased by 2% to 882.6 tonnes in the second quarter. “This is a record level of global output for a second quarter and follows on from a Q1 record of 847.5t.

Global gold production was let by Canada, Russia and the U.S. that saw their domestic production increase by 9% in the third quarter. Australia, which has reported record gold production in 2018 saw an increase of 6% in the second quarter.

The WGC also noted an increase in recycled gold as consumers sold into higher prices late in the quarter.

SOURCE: By Neils Christensen

Great Atlantic Resources $GR.ca – Gold Heats Up And Silver Joins The Race $OM.ca $GGX.ca $GWM.ca $CNX.ca $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 11:06 AM on Tuesday, July 23rd, 2019

SPONSOR: Great Atlantic Resources. 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, Antimony, Tungsten and Gold. Click Here for More Info

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564603/hub/GREATATLANTIC_LOGO_TESTER-e1480712241913.jpg
GR: TSX-V
  • Next level for gold is $1500
  • Ray Dalio, Billionaire hedge fund manager pro gold
  • Potential interest rate cuts gold positive

Now that gold has broken through the $1,450 an ounce level, a six-high year high, the next big test is $1,500. And as I’ve said before, it can do this in the blink of an eye under the right conditions.

We may end up seeing those conditions emerge sooner rather than later.

Last Thursday, Federal Reserve Bank of New York President John Williams seemed to indicate that a rate cut could be expected later this month, saying that central bankers need to “act quickly” as economic growth cools. Although he later clarified his comment, claiming he was simply citing research and not forecasting central bank action, the price of gold jumped as much as 2 percent on the news before closing above $1,440 for the first time since May 2013.

Investors took some profits last Friday, knocking the price down around 1 percent after gold started to look overbought a day earlier. The metal was up two standard deviations over the past 60 trading days, its highest level since April 2016. I would consider each pullback such as this a buying opportunity, though, because I believe the best is yet to come for the metal.

Gold Price Up Two Standard Deviations

Gold Price Up Two Standard Deviations U.S. Global Investors

Ray Dalio seems to agree. In a lengthy post on LinkedIn—Dalio’s favorite platform for getting the word out—the billionaire hedge fund manager writes that he thinks we’re on the verge of a new economic paradigm shift and that central banks’ accommodative policies, from low rates to quantitative easing (QE), are unsustainable. To hedge against this, Dalio says, “I believe that it would be both risk-reducing and return-enhancing to consider adding gold to one’s portfolio.” Most investors are underweighted in gold, “meaning that if they just wanted to have a better balanced portfolio to reduce risk, they would have more of this sort of asset,” he writes.

A Monster Rally for Juniors

Select junior and micro-cap gold and precious metal miners also posted very strong growth over the past week, mostly on positive drilling results. In a press release dated July 15, Brixton Metals announced encouraging results at its wholly owned Thorn Gold-Copper-Silver Project in British Columbia. Gary Thompson, chairman and CEO of the Vancouver-based explorer and developer, said that Brixton “continues to unlock a mountain of value” at the property, which exhibits even greater mineralization than was previously thought.

Junior Miners Had a Strong Week

Junior Miners Had a Strong Week U.S. Global Investors

As for silver, I’m pleased to see that it’s finally playing “catch up” to gold, its price having hit a 52-week high after an incredible six straight days of gains.

Silver Is Trying to Narrow Its Gap With Gold

Silver Is Trying to Narrow Its Gap With Gold U.S. Global Investors

The Bullish Calls on Gold Continue

With gold having already broken out of its five-year trading range, is the best still yet to come?

I believe it is. And I’m not alone. Read what some analysts and strategists have to say:

Alpine Macro

“The Fed is getting ready to cut interest rates, which should set in motion a multi-year bear market in the dollar,” write analysts at Alpine Macro in a research note dated June 28. A weaker U.S. dollar is one of three “key ingredients” for a bull market, according to Alpine Macro, the other two being a more accommodative Fed and rising geopolitical risks.

“The technical break above $1,400 an ounce is a positive sign,” the firm adds. “New all-time highs for gold should be seen in the coming years.”

World Gold Council (WGC)

“The prospect of lower interest rates should support gold investment demand,” the World Gold Council (WGC) says in its mid-year outlook. “Our research indicates that the gold price was higher in the 12 months following the end of a tightening cycle. Moreover, historical gold returns are more than twice their long-term average during periods of negative real rates—like the one we are likely to see later this year.”

Canadian Imperial Bank of Commerce (CIBC)

“We continue to see no signs of rate hikes on the horizon over the next several years, and historically have seen gold continue on an upward trajectory beyond the last rate cut,” writes CIBC in a note dated July 14.

The bank points out that in two previous gold bull market cycles—in the 1970s and 2000s—negative real rates were the main contributing factor.

“During the last two major periods when real rates stayed below the 2 percent level and actually ticked into negative territory, the gold price moved over 320 percent in the 1970s… and approximately 400 percent from 2004 to peak in 2011.”

For full disclosures pertaining to this post click here.

Great Atlantic Resources $GR.ca Gold Weaker, Bigger Price Move Pending $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 9:21 AM on Wednesday, July 17th, 2019

SPONSOR: Great Atlantic Resources. 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, Antimony, Tungsten and Gold. Click Here for More Info

https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564603/hub/GREATATLANTIC_LOGO_TESTER-e1480712241913.jpg
GR: TSX-V
  • A bigger price move is right on the horizon, probably this week
  • Odds favor that bigger price move being to the upside.

Gold prices are modestly down in early U.S. trading Tuesday. The daily chart for gold shows a “collapse in volatility,” whereby the past three sessions have seen significantly quieter price action. This suggests that a bigger price move is right on the horizon, probably yet this week. Given that the daily gold chart remains bullish, odds favor that bigger price move being to the upside. August gold futures were last down $2.90 an ounce at 1,410.20. September Comex silver prices were last up $0.045 at $15.41 an ounce.

The just-released U.S. retail sales report for June showed a stronger-than-expected rise of 0.4%, which pushed the U.S. dollar index to solid gains on the day and in turn put some downside pressure on the gold market. Asian and European stocks were mixed overnight. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session beings, and are at or near their record and contract highs. So far this week there have been no major news developments in the world to significantly move markets. Thus, typical lackluster mid-summertime trading has set in. However, a very busy day of U.S. economic data may shake loose the present summertime doldrums.

In overnight news, there was a downbeat economic report coming out of Germany, as the ZEW economic expectations index and current conditions index worsened in July. Germany is the economic workhorse for the European Union.

The other key “outside market” today sees Nymex crude oil prices firmer and trading just below $60.00 a barrel.

U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and Goldman Sachs retail sales reports, retail sales, import and export prices, industrial production and capacity utilization, the NAHB housing market index, manufacturing and trade inventories, and Treasury international capital data. Several Federal Reserve officials are also slated for speeches today.

SOURCE: https://www.kitco.com/news/2019-07-16/Gold-Firmer-Bigger-Price-Move-Pending.html

CLIENT FEATURE: Great Atlantic’s $GR.ca Golden Promise located in Emerging Gold District $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 1:50 PM on Friday, June 14th, 2019
  • Golden Promise located in the Victoria Lake Supergroup, with over 130 VMS deposits and occurrences, including 30 significant deposits and prospects.
  • Golden Promise neighbors Marathon Golds 4.2m gold resource
  • Drilling has focused on small area called Jaclyn Main Zone where multiple quartz veins comprise the 100,000 ounce resource
  • Jaclyn Main quartz vein system is open ended with a strike dimension of 975m and open vertical depth extension of 400m

Great Atlantic Hub on Agoracom

FULL DISCLOSURE: Great Atlantic is an advertising client of AGORA Internet Relations Corp

CLIENT FEATURE: Great Atlantic’s $GR.ca Golden Promise located in Emerging Gold District $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 9:48 AM on Wednesday, May 29th, 2019
  • Golden Promise located in the Victoria Lake Supergroup, with over 130 VMS deposits and occurrences, including 30 significant deposits and prospects.
  • Golden Promise neighbors Marathon Golds 4.2m gold resource
  • Drilling has focused on small area called Jaclyn Main Zone where multiple quartz veins comprise the 100,000 ounce resource
  • Jaclyn Main quartz vein system is open ended with a strike dimension of 975m and open vertical depth extension of 400m

Great Atlantic Hub on Agoracom

FULL DISCLOSURE: Great Atlantic is an advertising client of AGORA Internet Relations Corp

CLIENT FEATURE: Great Atlantic’s $GR.ca Golden Promise located in Emerging Gold District $SIC.ca $MOZ.ca $AGB.ca

Posted by AGORACOM-Eric at 1:23 PM on Friday, May 10th, 2019
  • Golden Promise located in the Victoria Lake Supergroup, with over 130 VMS deposits and occurrences, including 30 significant deposits and prospects.
  • Golden Promise neighbors Marathon Golds 4.2m gold resource
  • Drilling has focused on small area called Jaclyn Main Zone where multiple quartz veins comprise the 100,000 ounce resource
  • Jaclyn Main quartz vein system is open ended with a strike dimension of 975m and open vertical depth extension of 400m

Great Atlantic Hub on Agoracom

FULL DISCLOSURE: Great Atlantic is an advertising client of AGORA Internet Relations Corp

$GR.ca Great Atlantic Commences 2018 Exploration Program – Golden Promise Gold Property – Central Newfoundland

Posted by AGORACOM-Eric at 10:05 AM on Thursday, May 31st, 2018

 

  • Cash payment of $25,000 and issuance of 75,000 shares upon signing a definitive agreement (Paid and Issued);
  • Issue $50,000 in shares on the 12-month anniversary of the definitive agreement; the number of shares to be issued will be based on the 10 day VWAP immediately prior to the anniversary date; and
  • Explorex will incur a total expenditure of $750,000 (including all underlying payments) over a period of 4 years; of which $100,000 will be a firm commitment on or before the first anniversary of the definitive agreement.

Vancouver, British Columbia (FSCwire)GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce that Explorex Resources Inc (CSE-EX) has executed the Option Agreement to acquire a 75% interest in the Kagoot Brook Cobalt Project in New Brunswick (“Kagoot Brook”) from Great Atlantic. Furthermore, Explorex is planning to perform a comprehensive exploration program this summer.

Option Agreement

The Kagoot Brook property, is 100% owned by Great Atlantic and is subject to an underlying agreement with a prospecting syndicate.  The agreement to acquire a 75% interest in the Project is subject to the following terms:

  • Cash payment of $25,000 and issuance of 75,000 shares upon signing a definitive agreement (Paid and Issued);
  • Issue $50,000 in shares on the 12-month anniversary of the definitive agreement; the number of shares to be issued will be based on the 10 day VWAP immediately prior to the anniversary date; and
  • Explorex will incur a total expenditure of $750,000 (including all underlying payments) over a period of 4 years; of which $100,000 will be a firm commitment on or before the first anniversary of the definitive agreement.

Upon earning 75% of the project, the parties will enter into a joint venture.  The terms will provide for a pro-rata dilution such that should Great Atlantic’s interest drop below 5%, it will revert to a 3% NSR.  Explorex will retain the right to buyback 2 percentage points at $ 1 million for each 1%, or portion thereof.  Should Great Atlantic seek to sell any portion of the remaining NSR, Explorex will retain a first right of refusal.

For additional details on the Kagoot Brook Project refer to Company news release dated February 14, 2018 or visit the Company’s website at www.greatatlanticresources.com

On Behalf of the board of directors

“Christopher R Anderson”

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 risk-free realm of Atlantic Canada,. 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.

$GR.ca Great Atlantic Purchases Portable Gold Mining Plant $AGB.ca

Posted by AGORACOM-Eric at 9:16 AM on Wednesday, February 28th, 2018

  • Purchased a turnkey portable Gold mining plant from an independent third party for $99,000
  • Great Atlantic will issue 1.1 million shares at a deemed price of 9 cents per share in consideration

 

Vancouver, British Columbia (FSCwire) – Great Atlantic Resources Corp. (the “Company” or “Great Atlantic”) (GR: TSXV) is pleased to announce it has purchased a turnkey portable Gold mining plant from an independent third party for $99,000. Great Atlantic will issue 1.1 million shares at a deemed price of 9 cents per share in consideration of the purchase.

To view the graphic in its original size, please click here

 

The portable Gold Milling plant purchased by Great Atlantic includes the following :

Jaw Crusher -10″ x 16″ jaw crusher 20hp, 3 phase 600 volt, 60Hz With 1+ yd vibrating feeder/hopper, 3 hp, 3 phase, 220V, 60hz Includes 16″ wide inclined conveyor, 3 hp, 3 phase, 220 V, 60hz Free-standing Unit on steel skid

Fine ore hopper/feeder – 1 yard fine ore hopper magnetic metering feeder, 220V single phase Free-standing on steel skid

Hammer mill – One 24″ x 16″ hammer mill, 30hp, 230/460V, 3 phase motor Inlet chute, outlet chute Steel frame stand

2 shaker tables 4′ x 8′ – Stands with tilt adjustment, 120V, 60hz single phase motor water manifold and distributor trough

 

On behalf of the Board,

“Christopher R Anderson”

Mr. Christopher R. Anderson  ” Always be positive, strive for solutions, and never give up ”

President, CEO, and Director

604-488-3900

 

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 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, Zinc, 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

To view the associated document to this release, please click on the following link:
public://news_release_pdf/GreatAtlantic02282018.pdf

To view the original release (with media), please click here

Pilley’s Island Trench Samples Return up to 27.5% Zinc, 20.0% Lead, 8.36% Copper and 63.4 g/t Silver, Newfoundland $AGB.ca $MOZ.ca $SZM.ca

Posted by AGORACOM-Eric at 10:09 AM on Thursday, November 16th, 2017

  • Pilley’s Island Base Metal – Precious Metal Property- Located in North-Central Newfoundland
  • Grab samples collected from trenches returned up to 27.5% Zn, 20.0% Pb, 8.36% Cu and 63.4 g/t Ag
  • Diamond drill program is to commence in late November.

 

Vancouver, British Columbia (FSCwire)GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received initial analytical results for rock samples collected during a recent trenching program at its Pilley’s Island Base Metal – Precious Metal Property, located in north-central Newfoundland. The exploration program was jointly operated with option partner Unity Resources. Rock grab samples collected from the trenches returned up to 27.5% Zn, 20.0% Pb, 8.36% Cu and 63.4 g/t Ag. Great Atlantic and Unity Resources are planning a diamond drilling program on the property to commence in late November. The property hosts an historic copper mine along with several zinc, lead, copper (+ / – gold, silver) occurrences.

 

 

One area of recent trenching was the Bull Road showing. Previous historic work included trenching and drilling with 7 holes sunk on the showing. Reported historic trench samples at Bull Road include 12.42% Zn, 3.87% Cu, 0.95% Pb and 0.71 oz./ton Ag over 4.6m. One historic drill hole at this showing was reported to intersect 22.2% Zn, 4.4% Pb, 0.1% Cu and 0.96 oz./ton Ag over 0.65m core length within an intersection of 7.85m grading 0.66% Cu, 0.51% Pb, 3.41% Zn and 0.34 oz./ton Ag. The recent trenching program included re-opening and re-evaluating the historic Bull Road Showing.

 

Trenching along the trace of the Bull Road Showing exposed mineralization over a length of 130m with a width varying between 1-7m. The Bull Road Showing is a polylithic slump breccia of volcanogenic massive sulphide mineralization containing massive sulphide clasts up to greater than a metre in length.

 

Rock grab samples taken from selected styles of mineralization during the current program are presented in the table below.

 

Massive sulfide mineralization at Bull Road Trench.

To view the graphic in its original size, please click here

 

Massive sulfide mineralization at Bull Road Trench

To view the graphic in its original size, please click here

 

Massive sulfide mineralization at Bull Road Trench

To view the graphic in its original size, please click here

 

Bull Road Trench

To view the graphic in its original size, please click here

 

The Bull Road showing will be targeted during the upcoming diamond drill program.

 

The Pilley’s Island Property hosts an historic mine with reported historic estimated reserves of 1.159 million tonnes grading 1.23% Cu or 627,373 tons at 2.34% Cu and 0.01 oz./ton Au. This volcanogenic massive sulphide deposit is analogous to Kuroko/Buchans style mineralization. The Property also hosts other base metal – precious metals occurrences including the Bull Road showing and Fragmental Zone.

 

The Pilley’s Island Property consists of 7 adjoining licences covering a total are of 875 hectares. Access to and infrastructure at the property is excellent. The property is serviced with power mains and government maintained roads and is within 2 km of tide water. The property is located within a mining friendly district.

$GR.ca Great Atlantic Drills Keymet Base Metal Project, Newfoundland

Posted by AGORACOM-Eric at 9:00 AM on Wednesday, October 18th, 2017

  • Keymet is a past producing Pollymetallic property
  • Hole Ky-17-6 included 50M of arsenopyrite which has traditionally carried gold at Keymet
  • Pollymetallic mines are the most sought after Base Metal projects due to presence of multiple ore types

Vancouver, British Columbia (FSCwire)GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed a diamond drilling program at its Keymet Precious – Base Metal Property, located near Bathurst, northeast New Brunswick. The Keymet property hosts multiple gold, silver, zinc, lead and / or copper occurrences and the Keymet deposit, site of the historic Keymet Mine. The drilling program (5 holes totalling 679 meters) was conducted in the northwest region of the property, northwest of the historic Keymet Mine.

 

“We are very encourage at this year’s drill program and are enthusiastically awaiting all the results but particularly interested in the unexpected arsenopyrite within a 50 meter core length interval in hole Ky-17-6, traditionally arsenopyrite has carried Gold on this property.  As well we want to say a special thanks to Don and the guys at Orbit Garant Drilling, excellent job “Says: Christopher R Anderson CEO

 

To view the graphic in its original size, please click here

 

The program tested the continuation of zinc, copper and silver bearing veins and a gold mineralization intersected by Great Atlantic during 2015 diamond drilling and trenching programs. All five holes intersected veins hosting base metal sulfides while three holes also intersected arsenopyrite mineralization. Gold mineralization on the property is associated with arsenopyrite.  The Company is conducting systematic sampling of mineralized drill core from the recent program.

 

Gold bearing boulders (samples up to 51 grams / tonne (g/t) Au) and gold bearing bedrock in trenches and drill core have been discovered by Great Atlantic in the northwest region of the property. Great Atlantic drilled two holes in 2015 at one site in this region (Ky-15-3 and Ky-15-4), approximately 1.4 kilometers of the historic Keymet Mine, in an area referred to as the Elmtree 12 occurrence. Both 2015 holes intersected base metal and silver bearing veins (including 16.68% zinc, 1.11% copper and 152.0 g/t silver over 1.80 metre core length in Ky-15-3 and 8.68% zinc and 44.8 g/t silver Ag over 4.28 metre core length in Ky-15-4). Hole Ky-15-3 also intersected a gold bearing interval (3.28 g/t Au over 2.1 meter core length). The true width of these initial 2015 drill intersections is unknown at this time. The recent drilling tested the continuation of this base metal and precious metal mineralization.

 

To view the graphic in its original size, please click here

 

Each of the 2017 drill holes intersected veins with copper, lead and zinc sulfide mineralization. Arsenopyrite mineralization has been observed in three of these holes. Gold mineralization in boulders and bedrock in this area is associated with arsenopyrite.

 

Holes Ky-17-5, 6, 7 and 9 of the recent program were drilled in the same area as 2015 holes Ky-15-3 and 4. Each of these four holes intersected base metal bearing veins. Company management are interpreting the main veins to be within a steep dipping to vertical vein system to strike approximately north – south, with all Great Atlantic drill intersections to date being within an approximately 70 meter strike length and shallow (above 100 meter vertical depth).  Hole Ky-17-6 intersected local arsenopyrite within an approximate 50 meter core length interval appearing to be east to northeast of the main base metal bearing vein zone.  Holes Ky-17-5 and 7 also intersected local arsenopyrite.

 

To view the graphic in its original size, please click here

 

To view the graphic in its original size, please click here

Veins containing copper, zinc and lead sulfide mineralization in hole Ky-17-07

 

To view the graphic in its original size, please click here

Vein containing copper and zinc sulfide mineralization in hole Ky-17-05.

 

To view the graphic in its original size, please click here

Vein containing zinc and lead sulfide mineralization in hole Ky-17-8

 

Hole Ky-17-8, located approximately 80 meters southwest of holes Ky-17-5, 6 and 7, tested the down-dip extension of a gold bearing zone discovered by the Company in a 2015 trench (channel samples returning 1.1 g/t Au over 4.9 meters). The gold bearing zone in the trench is characterized by minor arsenopyrite in metasediments and increased quartz veining. A fault zone is also exposed in the trench hosting base metal and silver mineralization (2015 grab sample returned 8.99% lead, 1.76% zinc, 0.80% copper and 237 g/t silver). Arsenopyrite is not apparent in Ky-17-8 drill core. However quartz veining was intersected under the trench gold zone. The hole also intersected veins with base metal sulfides approximately vertically under the trench fault zone.

 

Closed-spaced 1980s diamond drill holes (Brunswick Mining and Smelting and Aurtec Inc.) in the area of holes Ky-15-3, 4, Ky-17-5, 6, 7 and 9 intersected near-surface mineralized veins (Elmtree 12 vein occurrence). A 0.88 metre core length interval from a 1981 drill hole was reported to grade 7.72% Cu, 11.36% Zn an 13.6 ounces per ton Ag. A 1.22 metre core length sample from a near-by 1989 drill hole was reported to assay 16.4% Cu, 10.11% Zn and 31.0 ounces per ton Ag. The true width of these intersections is unknown. These drill intersections are within 50 metre vertical depth. Great Atlantic personnel found loose casing in this area during 2015. It is uncertain which historic hole this represents.

 

Access to the property is excellent with paved roads transecting the property, including a provincial highway. The property covers an area of approximately 3,400 hectares.

 

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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 assays referred to in this News Release are accurate.

 

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

 

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, Antimony, Tungsten and Gold.