Agoracom Blog Home

Posts Tagged ‘# AtlanticCanada’

Great Atlantic $GR.ca Begins Diamond Drilling Program at Keymet Precious – Base Metal Property Bathurst, New Brunswick

Posted by AGORACOM at 4:35 AM on Monday, October 2nd, 2017
https://s3.amazonaws.com/s3.agoracom.com/public/companies/logos/564603/hub/GREATATLANTIC_LOGO_TESTER-e1480712241913.jpg
  • Keymet Precious – Base Metal Property hosts multiple gold, silver, zinc, lead and copper occurrences.
  • Drill holes will test continuation of mineralized veins intersected by Great Atlantic during 2015
  • Drilling will also target a gold bearing zone exposed during 2015 exploration program
VANCOUVER, BC / ACCESSWIRE / October 2, 2017 / GREAT ATLANTIC RESOURCES CORP. (TSX-V: GR) (the “Company” or “Great Atlantic”) is pleased to announce it has begun a diamond drilling program at its Keymet Precious – Base Metal Property, located in northeast New Brunswick. The Keymet property, located approximately 20 kilometres northwest of Bathurst, hosts multiple gold, silver, zinc, lead and copper occurrences. Drilling is being conducted in the northwest region of the property, northwest of the historic Keymet Mine which is situated on the property. Drill holes will test continuation of zinc, copper and silver bearing veins intersected by Great Atlantic during 2015 diamond drilling (16.7% zinc, 1.1% copper and 152 grams per tonne silver over 1.8-meter core length and 8.7% zinc over 4.28-meter core length) and the continuation of a gold bearing zone discovered by Great Atlantic during 2015 trenching (1.1 g/t gold over 4.9 meters in channel samples).

To view a map of the location of the Base Metal Property in New Brunswick, please click on the following link:

https://ww4.fscwire.com/sites/default/files/NR/1096/19931_greatatlantimage1.png

Multiple base metal and silver bearing vein occurrences are reported in this region, including the past producing Keymet Mine which operated during the 1950s. Gold bearing boulders and gold bearing bedrock in trenches have been discovered by Great Atlantic in this area. Great Atlantic drilled two holes in 2015 (Ky-15-3 and Ky-15-4), approximately 1.4 kilometers north west of the historic Keymet Mine in an area referred to as the Elmtree 12 occurrence. The 2015 holes intersected base metal and silver bearing veins and a gold bearing interval. Drilling will test the continuation of this base and precious metal mineralization.

 

Both Ky-15-3 and Ky-15-4 were drilled from the same set-up to the northeast approximately under a mineralized vein exposed in a previous 2015 trench. Ky-15-3 was drilled at a 45-degree angle and intersected sphalerite – rich veins at 60.80 – 62.60 metres (returning 16.68% zinc, 1.11% copper and 152.0 g/t silver over a 1.80 metre core length). Ky-15-4 was drilled at a 60-degree dip on the same azimuth to intersect the veins deeper. Multiple sphalerite bearing veins were intersected in this hole at 90.07 – 94.35 metres (returning 8.68% zinc and 44.8 g/t silver over 4.28 metre core length), approximately 35 metres vertically under the main vein intersected in Ky-15-3. Hole Ky-15-3 also intersected a gold bearing interval, with a sample at 30.10 – 32.20 meters (2.1-meter core length) returning 3.28 g/t gold. The true width of these initial 2015 drill intersections is unknown at this time.

 

Drill holes are planned on either side of holes Ky-15-3 and Ky-15-4 to test the continuation of the zinc, copper and silver bearing veins along strike and to test the continuation of the gold bearing zone intersected in Ky-15-3.

 

Historic Keymet Mine (1950s)

 

To view the Historic Keymet Mine, please click on the following link:

 

https://ww4.fscwire.com/sites/default/files/NR/1096/19931_greatatlantimage2.jpg

 

To view an image of the Keymet Base, please click on the following link:

 

https://ww4.fscwire.com/sites/default/files/NR/1096/19931_greatatlantimage3.png

 

 

Drilling will also be conducted at a gold bearing zone exposed in a 2015 trench southwest of holes Ky-15-3 and Ky-15-4. Channel samples from a zone of altered sediments returned 1.11 g/t gold over a 4.9 metre total length. The channel samples were orientated east-west parallel to the trench direction. The orientation of this gold bearing zone has not been determined. This zone is approximately 80 metres southwest of the collars of holes Ky-15-3 and Ky-15-4. The Company had previously discovered gold bearing silicified sedimentary boulders in this area during 2011 and 2012 programs (boulder samples returned up to 51 grams per tonne Au).

 

To view an image of the following, please click on the below link:

https://ww4.fscwire.com/sites/default/files/NR/1096/19931_greatatlantimage4.jpg

Zinc (sphalerite) – bearing carbonate vein in Ky-15-4

 

The Elmtree 12 base metal and silver bearing vein occurrence is located approximately 1.4 kilometres northwest of the Keymet Mine. Closed-spaced 1980s diamond drill holes (Brunswick Mining and Smelting and Aurtec Inc.) intersected near-surface mineralized veins in this area. A 0.88 metre core length interval from a 1981 drill hole was reported to grade 7.72% Cu, 11.36% Zn and 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 a 50 metre vertical depth. Great Atlantic 2015 trenches and drill holes Ky-15-3 and Ky-15-4 are in the vicinity of these 1980s drill holes.

 

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.

 

To view an image of the following, please click on the below link:

 

https://ww4.fscwire.com/sites/default/files/NR/1096/19931_greatatlantimage5.jpg

 

Zinc, copper and silver bearing vein in 2015

 

Trench at Elmtree 12 Vein Occurrence

 

The Company is also pleased to announce it has arranged a non-brokered private placement of 2,777,777 million flow through units at a price of $0.18 cents per unit for gross proceeds of $500,000. Each Flow-Through Unit consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one (non) transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 60 months from the date of issue, one additional non-flow-through common share of the Issuer at an exercise price of Cdn$0.22 per share. The term of the warrants may be accelerated in the event that the issuer’s shares trade at or above a price of $0.35 cents per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties may sell securities of the Company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings. A finder’s fee may be paid to eligible finders in accordance to the TSX-V policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders’ fees are both subject to approval by the TSX-V.

 

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.

 

On Behalf of the board of directors

 

“Lorne Mann”

 

604-488-3900
[email protected]

Great Atlantic Rock Samples Return up to 5.8 oz. / ton Gold Golden Promise Property in Central Newfoundland

Posted by AGORACOM at 10:58 AM on Monday, August 28th, 2017

Image result for Great Atlantic GR

  • Six gold bearing quartz vein zones are located in the central region, “The JaclynZone”
  • Sampling program confirmed gold mineralization outcrop in four quartz vein “Outcrops”
  • Samples from three different areas exceeded 1 oz. / ton gold

VANCOUVER, BC / August 28, 2017 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received gold analytical results for rock samples collected during May and June at its Golden Promise Gold Property in central Newfoundland. Rock samples were collected in multiple areas within the property, being the initial work in a budgeted 2017 exploration program on the property. The rock sampling program confirmed gold mineralization in quartz vein boulders or outcrop in four areas. Four quartz vein samples from three different areas exceeded 1 oz. / ton gold (34.2857 grams / tonne or g/t Au), including a boulder sample returning a high value of 200 g/t Au (5.8 oz. / ton Au). Trenching has since been completed in one of these areas referred to as the Jaclyn North Zone with analyses pending for rock samples. The Golden Promise Gold Property has been expanded to the current approximate 16,500 hectares.

 

To view a map of the mining area, please click on the following link:

https://www.accesswire.com/uploads/82817_greatatlimage1.png

The Golden Promise Property hosts multiple gold-bearing quartz veins and gold-bearing float boulders. The majority of historic work is reported at the Jaclyn Main Zone in the northern region of the property. A National Instrument (NI) 43-101 compliant inferred resource of 921,000 tonnes at an average grade of 3.02 g/t Au (89,500 ounces contained gold) was reported in 2008 for the Jaclyn Main Zone. Gold recovery from a 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 g/t Au. The average tails grade for the sample was reported to be 1.12 g/t Au. A “back-calculated head grade of 5.59 g/t Au” was reported for the bulk sample. The Jaclyn Main Zone has been reportedly traced for a strike length of approximately 800 meters (northeast to east striking) through trenching and diamond drilling to approximately 420 meters vertical depth.

 

To veiw a Statlite map of the mining area, please click on the following link:

https://www.accesswire.com/uploads/82817_greatatlimage2.png

The May – June rock sampling program was focused in the central to northern regions of the property and included samples at the Jaclyn North Zone, Jaclyn West (Christopher) Zone, Shawn’s Shot vein and Branden float occurrence. The samples were submitted to ALS Minerals for gold and multi-element analysis. The most significant analytical results are listed in Table 1 (gold values are Screen Metallic Fire Assay gold analyses (total combined analyses of screen undersize and screen oversize fractions)).

 

Sample No.

Au (grams/tonne)

Au (oz./ton)

Float Boulder / Outcrop

Grab / Chip

Zone

GP-R-17-30

200

5.833

Quartz Vein Float

Grab

Branden Float Occurrence
GP-R-17-33

57.2

1.668

Quartz Vein Float

Grab

Branden Float Occurrence
GP-R-17-200

0.54

0.016

Quartz Vein Outcrop

Grab

Jaclyn West (Christopher)
GP-R-17-203

48.2

1.406

Quartz Vein Outcrop

Chip (0.32m)

Shawn’s Shot
GP-R-17-206

6.11

0.178

Quartz Vein Float

Grab

Jaclyn North
GP-R-17-207

1.63

0.048

Quartz Vein Float

Grab

Jaclyn North
GP-R-17-208

70.9

2.068

Quartz Vein Float

Grab

Jaclyn North

Table 1: May – June Golden Promise Rock Samples (grams / tonne Au /34.2857 = oz. / ton Au)

 

Samples GP-R-17-30 and GP-R-17-33 are 1.38 kilogram and 0.88 kilogram grab samples collected from two angular quartz vein boulders at the Branden float occurrence, located in the northeast region of the property, approximately 8.5 kilometers northeast of the Jaclyn Main Zone. Visible gold was identified in both boulders. Reported historic boulder sample assays for this area include 62.6, 72.1 and 80.0 g/t Au.

 

To view an image of Sample GP-R-17-30, please click on the following link:

https://www.accesswire.com/uploads/82817_greatatlimage3.jpg

A portion of sample GP-R-17-30 with visible gold (sample returned 200 g/t Au or 5.8 oz./ ton Au).

 

Samples GP-R-206, 207 and 208 are 1.51, 1.50 and 1.36 kilogram grab samples of quartz vein boulders in the Jaclyn North Zone, located in the northern region of the property. The Jaclyn North Zone is reported approximately 250 meters north of the Jaclyn Main Zone. The three samples were collected east of historic drill holes at this zone. These samples are also in the vicinity of recently completed trenches.

 

To view an image of sample GP-R-17-208, please click on the following link:

https://www.accesswire.com/uploads/82817_greatatlimage4.jpg

A portion of sample GP-R-17-208 (sample returned 70.9 g/t Au or 2.0 oz./ton Au)

The northeast striking Jaclyn North Zone has been reportedly traced for approximately 450 meters and locally to a vertical depth of 175 meters (13 diamond drill holes). The zone is reported to contain 3 quartz veined sub-zones. Reported historic drill hole intersections include:

 

  • GP03-32: 12.13 g/t Au / 0.35m & 12.30 g/t Au / 0.30m
  • GP07-76 (Upper Sub-zone): 11.28 g/t Au / 0.30m
  • GP06-51 (Middle Sub-zone): 5.24 g/t Au / 1.70
  • GP06-47 (Lower Sub-zone): 15.23 g/t Au / 0.30m

 

Sample GP-R-17-203 is a 0.94 kilogram, 0.32 metre chip sample across the Shawn’s Shot quartz vein. The Shawn’s Shot vein is reported in the central region of the property, approximately 7.5 km southwest of the Jaclyn Main Zone. This quartz vein is reported to be 0.35 metres wide, striking slightly southeast in an outcrop along a river. Historic grab samples of this vein were reported to return up to 100.5 g/t Au.

 

Sample GP-R-17-200 is a 1.30 kilogram outcrop grab sample from the Jaclyn West (Christopher) Zone in the northern region of the property. This sample was collected from a historic trench. The Jaclyn West Zone is reported approximately 450 meters southwest of the Jaclyn Main Zone. It is reported to have a known strike length of 35 meters and 2 metre composite vein width. A historic grab sample of a vein sub crop was reported to return 3.8 g/t Au.

 

To view an image of a sample site, please click on the following link:

https://www.accesswire.com/uploads/82817_greatatlimage5.jpg