Great Atlantic Resources defines gold zone at Keymet, New Brunswick

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Great Atlantic Resources Corp. [GR-TSXV; PHO2-FSE] reported analytical results for soil samples collected during 2022 at its precious metal/base metal property in northeast New Brunswick.

The analytical results (along with 2021 soil sample results) define a zone of gold soil anomalies approximately 200 metres by 200 to 500 metres, of which 39 of 44 samples (88% of samples) from this zone returned anomalous values of 0.005 to 0.067 part per million gold (five to 67 parts per billion), establishing a priority target area. This anomalous zone is open to the west.

The 2022 soil geochemical survey (66 samples) was conducted within the west-central region of the Keymet property in the area of the 2021 soil geochemical survey, which identified a new zone of gold soil anomalies in an underexplored region of the property. The 2021 and 2022 sampling were conducted along six northwest-southeast-trending lines. The objective of the 2022 soil sampling was to further define gold anomalies.

Twenty-six samples returned anomalous values of 0.005 to 0.049 ppm gold (44% of samples analyzed for gold), with 12 samples returning 0.012 to 0.049 ppm gold (20% of samples analyzed for gold).

The majority of anomalous 2022 samples are from the western 2022 sample line with 14 of 17 samples along an approximately 430-metre-long section returning anomalous values of 0.005 to 0.049 ppm gold. These results and results from the two adjacent 2021 sample lines define an anomalous zone of approximately 200 metres by 200 to 500 metres, being open to the west.

Of the 44 2021 and 2022 samples within this zone, 39 samples (88%) returned anomalous gold values in the 0.005 to 0.067 ppm range and 19 samples (43%) returned 0.011 to 0.067 ppm gold. Great Atlantic management views this zone as a priority target and is planning additional soil sampling and geophysical surveys to define trenching and diamond drilling sites in this area. The company’s management has found no reports of diamond drilling within the area of these gold soil anomalies.

Three rock samples collected during 2022 within the west-central region of the claim, west of the area of 2021/2022 soil sampling, returned 0.631 g/t gold, 0.984 g/t gold and 1.835 g/t gold. These samples from glacial float and outcrop were collected approximately 350 metres west of the area of 2021/2022 soil sampling.

Company management believes the area of the 2021/2022 gold soil anomalies extending west to the area of 2022 gold-bearing rock samples 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. Gold deposits occur approximately 4.5 to 5 km southwest of this survey area and west of the Keymet property close to this geological contact. These deposits are referred to as the West Gabbro zone, the South gold zone and the 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.

The Keymet property is host to the historic Keymet mine, which 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. The historic Keymet mine is located within the northwest region of the property. Much of the previous work by Great Atlantic has been focused on the area northwest of the historic Keymet mine. The company has located gold-bearing float and gold-bearing bedrock and polymetallic veins containing high-grade zinc, copper and silver in this region.

Access to the Keymet property is excellent with paved roads transecting the property, including a provincial highway. The property covers an area of approximately 3,400 hectares and is 100% owned by the company.

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