Great Atlantic outlines gold-in-soil anomaly at Keymet, New Brunswick
Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] identified a new zone of gold soil anomalies at its 100%-owned, 3,400-hectare Keymet precious metal/base metal property, located 24 km north-northwest of Bathurst, northeastern New Brunswick. The zone covers an area of approximately 850 by 500 metres, being open in all directions. Approximately 66% of the 2021 soil samples within the zone returned anomalous gold values of 0.005 – 0.067 parts per million (ppm), or grams/tonne.
The 2021 soil geochemical sampling was conducted within the central region of the Keymet Property. The survey area is relatively underexplored. However, company management believe this area has potential to host gold deposits given its location along the reported northeast-southwest contact between Ordovician – Early Silurian Fournier Group rocks and Silurian Chaleurs Group rocks. Three gold deposits (West Gabbro Zone, South Gold Zone and Discovery Zone) occur approximately 4.5-5 km southwest of this survey area close to this geological contact in the adjacent Elmtree property.
The soil geochemical sampling was conducted along four northwest-southeast traverses within an area of approximately 850 metres long by approximately 600 metres wide with a total of 91 samples collected. The sample spacing along the traverse was generally approximately 25 metres.
Sixty of the 91 soil samples returned anomalous gold values of 0.005 ppm and higher. One or more samples from each of the four traverses exceeded 0.010 ppm gold with 12 samples returning 0.011 – 0.067 ppm gold. Of note, 5 of 7 consecutive samples along an approximately 150-metre section of one traverse returned gold values of 0.014 – 0.067 ppm gold defining a priority target in the opinion of company management.
Of note, one of these samples returned an anomalous value of 1,160 ppm zinc. This zone of gold soil anomalies is open to the east and west of the survey area and open to the south and / or north of the 2021 survey lines. Company management have found no reports of diamond drilling within this anomalous zone.
Great Atlantic conducted a brief prospecting program in this central region of the property during 2021. An outcrop grab sample collected in this region during 2021 returned 0.564 g/t gold. This sample was collected approximately 450 metres west of the 2021 soil geochemical survey area indicating a potentially larger target area than that defined by the soil geochemical survey. This rock sample were also assayed for gold.
The Keymet property was host to the historic Keymet Mine which operated during the mid-1950s. Production was terminated in 1956 due to a fire. Reported production at the Keymet Mine 1954-1956 was 59,000 tonnes averaging 2.59% zinc, 2.44% lead, 0.25% copper and 33.94 g/t silver. Much of the previous work by Great Atlantic has been focused on the area northwest of the Keymet Mine. The company has located gold-bearing float and gold-bearing bedrock and polymetallic veins containing high-grade zinc, copper and silver this this region. The company recently completed a 10-hole diamond drilling program in this region of which assays are pending.
Access to the Keymet property is excellent with paved roads transecting the property, including a provincial highway.