Great Atlantic Resources Corp (TSX-V:GR) announced it had identified a new gold soil anomaly at its Keymet project in New Brunswick.
According to the junior resource company, the zone covers an area of approximately 850 metres by 500 metres and is open in all directions.
Around two-thirds of the soil samples taken from within the zone this year returned anomalous gold values of 0.005 to 0.067 parts per million (ppm).
READ: Great Atlantic Resources intersects high-grade quartz veins and visible gold at its Golden Promise project in Newfoundland
The Keymet property contains the historic Keymet Mine, which operated during the mid-1950s and produced lead, zinc, copper and silver. The mine produced around 59,000 tonnes averaging 2.59% zinc, 2.44% lead, 0.25% copper and 33.94 grams per ton (g/t) silver.
The soil geochemical sampling was conducted along four northwest-southeast traverses and a total of 91 samples were collected. The sample spacing along the traverse was generally approximately 25 metres.
The current survey area is relatively unexplored, but Great Atlantic told shareholders that it believes the area potentially hosts gold deposits along the reported northeast-southwest contact.
Three gold deposits – West Gabbro Zone, South Gold Zone and Discovery Zone – occur nearly 4.5 to 5 kilometers southwest of the survey area close to this geological contact in the adjacent Elmtree property, according to Great Atlantic.
The company recently completed a 10-hole diamond drilling program at Keymet, with analytical results pending.
Vancouver-based Great Atlantic is a project generator focused on Atlantic Canada.
Contact Angela at angela@proactiveinvestors.com
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