GTA Diversifies Its Exploration Program With the Acquisition of the Burnt Pond Zn-Cu Project in Central Newfoundland

BURLINGTON, ONTARIO--(Marketwired - May 27, 2015) - GTA Resources and Mining Inc. (TSX VENTURE:GTA) has acquired a 100% interest in the Burnt Pond Zn-Cu Property in central Newfoundland. The property consists of six separate claim licences (103 units), located in the Tally Pond volcanic belt which hosts Teck Resources Ltd's Duck Pond Mine and a number of other Cu-Zn-Ag-Au massive sulphide deposits.

The core claims were staked by GTA in March, 2015. Two other licences (47 claim units) were recently purchased from an arm's length vendor. The closing on the latter two licences is subject to regulatory approval. Burnt Pond allows GTA to diversify into a zinc-copper project, in a producing belt with excellent infrastructure and a mining friendly jurisdiction.

The Duck Pond Mine is classified as a VMS (volcanogenic massive sulphide) deposit and achieved commercial production in 2007 with an initial resource of 6 million tonnes grading approximately 3% Cu, 6% Zn, 60 g/t Ag and 0.9 g/t Au. The GTA claims are underlain by the same geological package of altered felsic volcanic rocks as are common to the Duck Pond Mine. The area has extensive geophysical and geochemical coverage and historic drilling by third parties was quite limited. A number of untested EM (electro-magnetic) targets, coincident with anomalous base metals (Zn, Cu, Pb, Au and Ag) in both rock and soils remain to be evaluated. Anomalous base metal values associated with the VMS style alteration, includes the Wim Showing (1.9% Zn, 1.5% Pb) and drill intersections of 1.0%Zn/2.9m.

Commented Wayne Reid, President and CEO of GTA "The Burnt Pond project represents an opportunity to piggy-back on 20 years of previous field work in a mine environment and to test targets and ideas defined during this time. The property is only 8 kms from the Duck Pond mine/mill complex and this type of deposit generally occurs in clusters along the volcanic trend. The existing targets can be easily advanced to a drill stage with the use of more modern technology. The zinc market appears ready for a strong rebound in both demand and pricing and this represents a low cost entry into this market, with no option commitments or future royalties."