Great Atlantic discovers new gold zone at Keymet, New Brunswick
Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] 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, 3,400-hectare Keymet base metal/precious metal project, 24 km north-northwest of Bathurst, northern New Brunswick. The drilling program, consisting of 10 holes (2,061 metres) tested numerous targets in the northwest region of the property.
Highlights include a new gold discovery (Debler Zone) in drill hole Ky-21-25 that included 3.17 g/t gold over 0.70 metres core length and polymetallic veins in hole Ky-21-27 (Elmtree 12 Zone) including 7.02% ZnEq (zinc equivalent) over 0.92 metres core length.
| Gold assays and multi-element analyses were received for drill core samples from holes Ky-21-23 to Ky-21-27 which tested areas of polymetallic veins, areas of gold mineralization and / or electromagnetic geophysical anomalies. The hole numbering was continued from that of previous Great Atlantic drill programs at the Keymet property. Intersections (core length) from these holes include hole Ky-21-23 that returned 0.33 metres of 3.81% ZnEq. Hole Ky-21-25 returned 0.63 metres of 1.53 g/t gold, 0.70 metres of 3.17 g/t gold and 0.40 metres of 2.73% ZnEq. |
Drill hole Ky-21-23 tested the area immediately east of a historic shaft at the Elmtree Silver Mine mineral occurrence. The shaft at this occurrence is reported to have been sunk during the late 1800s. Ky-21-23 was drilled approximately south at an approximate 50Ëš dip testing the area immediately east of the shaft. The hole intersected a narrow interval with sulfide-carbonate-chlorite veins cutting altered meta-sediments. A 0.33-metre core length sample (49.53-49.86 metres) through this interval returned 1.78% zinc, 2.09% lead, 2,400 ppm copper (0.24% Cu) and 17.9 ppm (g/t) silver or 3.81% zinc equivalent. A 2015 Great Atlantic drill hole (Ky-15-1) was drilled from the same site, but to the southwest under the shaft. Ky-15-1 intersected a narrow interval of sulfide bearing veins of which a 0.51-metre core length sample returned 9.53% zinc, 9.01% lead, 0.48% copper and 66 g/t silver 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. It was drilled approximately east at an approximate 50Ëš dip. A 0.31-metre core length sample with sulfide stringers/clusters returned anomalous values of 1,740 ppm zinc, 1,520 ppm lead, 344 ppm copper and 3.6 g/t silver.
Drill hole K-21-25 tested a gold-bearing outcrop. A 2015 grab sample collected by Great Atlantic from the outcrop returned 1.14 g/t gold. The hole was drilled southwest at an approximate 60Ëšdip, approximately under the outcrop. This is the first drill hole by Great Atlantic in this target. The hole intersected two gold-bearing intervals representing new discoveries with the following intercepts (core length); namely, 31.60-32.23 metres (0.63 metres) and 1.53 g/t gold, being approximately under the gold-bearing outcrop. Also, between 74.25-74.95 metres (0.70 metres), the hole returned 3.17 g/t gold.
Of note, three samples covering the interval of 71.43-74.25 metres (2.82 metres core length) all returned anomalous values for gold, with a weighted average of 0.25 g/t gold.
A 0.40-metre core length sample (123.00-123.40 metres) in Ky-21-25 with sulfide bearing veins returned 1.08% zinc, 2.29% lead, 687 ppm copper (0.0687% Cu) and 12.8 g/t silver or 2.73% zinc equivalent. This represents a new polymetallic vein discovery.
Drill hole Ky-21-26 tested an area of polymetallic veins and gold-bearing bedrock discovered by the company during 2015 and 2017. The hole was collared approximately 30 metres north of a 2017 drill hole (Ky-17-8) that intersected 18.8% zinc, 3.55% copper, 1.16% lead and 576 g/t silver over 1.27 metres core length, or 38.1% ZnEq, and a 2015 trench from which channel samples graded 1.11 g/t gold over 4.9 metres cumulative length. Hole Ky-21-26 was drilled approximately west at an approximate 50Ëš dip. A 1.40-metre core length interval returned anomalous gold values, averaging 0.12 g/t gold.
Drill hole Ky-21-27 is a definition hole at the Elmtree 12 polymetallic vein system. It was drilled slightly northeast at a 70Ëš dip, testing slightly deeper in the southern part of the Elmtree 12 polymetallic vein system. The company drilled numerous holes during 2015-2018 within this vein system, intersecting veins containing high-grade zinc, copper and/or silver. Ky-21-27 intersected the Elmtree 12 vein system (sulfide being veins with pyrite, sphalerite, galena and chalcopyrite). A 0.92-metre core length sample (102.64-103.56 meters) through this interval returned 3.50% zinc, 3.26% lead, 3,610 ppm copper (0.361% Cu) 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.
Assays are pending for drill holes Ky-21-28 to Ky-21-32. The historic Keymet Base Metal-Silver Mine (1950s) burnt down and was never recapitalized.