VANCOUVER, British Columbia, August 9, 2022 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received gold assays and multi-element analyses for drill core samples from the 2022 drilling program at the Mascarene Property, located in southern New Brunswick. The program was conducted in the southern region of the property at a reported copper – nickel – cobalt occurrence.
The results confirm copper bearing veins and anomalous levels of gold, silver, cobalt and / or nickel adjacent to a prominent magnetic high trend. This includes a 0.40-meter core length sample in drill hole MA-22-5 which returned 6.74% copper, 0.627 grams / tonne (g/t) gold and 34.5 g/t silver.
Semi-massive sulfides in quartz vein in drill hole MA-22-5 (6.74% copper, 0.627 g/t gold and 34.5 g/t silver over 0.40 meters core length)
The 2022 drilling program consisted of five drill holes (MA-22-5 to MA-22-9) totalling 787 meters. The drilling was conducted within the southern region of the Mascarene Property at the Wheal Louisiana copper – nickel – cobalt mineral occurrence. The drilling program tested areas of reported copper soil geochemical anomalies and copper and gold bearing rubble near historic pits / shafts. This was the Great Atlantic’s maiden drill program for the southern region of the property.
Quartz and / or carbonate veins with chalcopyrite (+/- pyrite and pyrrhotite) were intersected in four drill holes (MA-22-5, MA-22-6, MA-22-7 and MA-22-9). Of note copper mineralization in hole MA-22-9 is within 10 meters of surface. Company management are interpreting the mineralized veins intersected in holes MA-22-5 and MA-22-9 as separate veins / vein systems. Significant intercepts (core length) are as follows:
Near-surface quartz – carbonate veined zone with sulfides in MA-22-9 (includes 2.07% copper over 0.98 meters core length)
The true widths of the vein intersections cannot be estimated at this time. Additional drilling is required to determine the orientation and true width of the mineralized veins.
The drilling program was conducted adjacent to a broad northeast trending zone of magnetic high anomalies (identified during a 2001 government airborne magnetic survey) which transects the entire Mascarene Property. Great Atlantic’s management speculate this magnetic high trend to be associated with a buried mafic intrusion(s) and a possible target for mafic intrusive hosted copper-nickel-cobalt deposits.
The 2022 drilling program was supervised by a Qualified Person. The drill hole numbering system continued from previous 2021 drilling by the Company on the Mascarene Property. The drill core was logged and sampled at a secure government-owned facility in southern New Brunswick. The drill core samples and inserted blank and standard samples were submitted to ALS Canada Ltd. for gold assay (fire assay – AA) and analyzed for 33 elements by four acid digestion and ICP-AES. ALS Canada Ltd., a certified laboratory, is independent of Great Atlantic.
Two shafts were sunk at the Wheal Louisiana occurrence in the 1850s. Other historic pits exist in this area. Limited sampling by Great Atlantic during 2020 confirmed copper and gold mineralization in rubble adjacent to a shaft and a near-by pit in this target area. A rubble sample of mafic rock returned 6.19% copper and 0.404 g/t gold. Two quartz vein rubble samples returned anomalous values for copper (up to 0.86% Cu) and gold (up to 0.19 g/t Au). The 2020 rock sampling program at the Wheal Louisiana occurrence was conducted by a Qualified Person. The rock samples were assayed for gold by fire assay – AA and analyzed for 33 elements by four acid digestion and ICP-AES analysis by ALS Canada Limited.
Great Atlantic has collected additional rock geochemical samples in this area during 2022 of which the analytical results are pending.
The Mascarene Property covers an area of approximately 2,080 hectares. The property is located approximately 6 kilometers southwest of the town of Saint George. Access is excellent with paved provincial roads transecting the property and within close proximity of the property.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
“Christopher R Anderson” Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888
Vancouver, B.C., V6C 3K4