Great Atlantic Resources Corp (TSX-V:GR) has released results from the first 10 rock samples collected this year at a new target area in the Keymet precious and base metal project in New Brunswick, which the company said included a new gold discovery in bedrock.
The sampling was carried out in a new target area in the west-central region of the property, within and surrounding where the company had identified a zone of gold soil anomalies last year.
This anomalous zone covers an area of around 850 meters (m) by 500m and is open in all directions.
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The samples were collected up to around 650m west of the zone of gold soil anomalies and five returned highly anomalous gold values, anomalous arsenic and plus or minus anomalous zinc. One outcrop sample showed 0.984 grams per ton (g/t) gold and 9,470 parts per million (ppm) arsenic. Another showed 0.344 g/t gold and 3,370 ppm arsenic.
"This new emerging gold target is now becoming a primary focus for the possibility of the next major discovery within our suit of properties in New Brunswick that Great Atlantic owns," said Chris Anderson, CEO of Great Atlantic, in a statement.
Great Atlantic said it believes the west-central region of the Keymet property has the potential to host gold deposits and is planning additional prospecting and rock geochemical sampling; soil geochemical sampling; geophysical surveys; and trenching or diamond drilling in the region next year.
The Keymet property is host to the historic Keymet mine (in the northwest of the property) which operated during the mid-1950s, producing lead, zinc, copper and silver. Production was terminated in 1956 due to a fire at the site.
Contact the writer at giles@proactiveinvestors.com