Great Atlantic Investigates Elevated Cobalt Soil Geochemical Anomaly on its Porcupine Property in the
Bathurst Camp New Brunswick
FOCUSED ON EXPLORING ATLANTIC CANADA
(TSXV : GR)
VANCOUVER, British Columbia – August 10, 2017 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it is conducting prospecting and rock sampling at its Porcupine Property, the focus being cobalt and lead soil geochemical anomalies in the central region of the property. The Porcupine Property is located in central New Brunswick.
Great Atlantic identified soil geochemical anomalies during 2015 and 2016 locally within the central region of the Porcupine Property. Three soil samples in the southwest corner of the survey area returned anomalous cobalt values of 50, 69 and 452 parts per million (ppm) ppm cobalt. This anomaly is open to the south and west. Multiple samples in the northern part of the survey area returned anomalous values for lead, including values of 362, 426, 437 and 504 ppm lead. The company is currently investigating both areas of soil geochemical anomalies, conducting focussed prospecting and rock sampling with the objective of identifying the source of these anomalies.
Lead, zinc and silver mineralization occurs in both boulders and bedrock in the northern region of the Porcupine Property. Great Atlantic discovered a mineralized zone in a trench in this northern region during 2012. A one meter channel sample across this zone returned 5.48% zinc and 1.08% lead. This zone was reported to be within sheared volcanic rocks. Great Atlantic collected grab samples of mineralized boulders during 2012 from another trench in this northern region. One sample returned 20.7% lead, 6.89% zinc, 2.04% copper and 122 ppm (grams / tonne) silver.
Access to the property is excellent with a dirt logging road passing through the central region of the property. The property is located approximately 50 kilometres southwest of the city of Miramichi. The property covers and area of approximately 1,270 hectares
Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
The Company also announces that Fort St James Nickel Corp. (FTJ.H) is continuing to evaluate properties in New Brunswick that are currently owned by Great Atlantic Resources Corp. with a view to negotiating the terms of a letter of intent with GR.V and, if applicable, a definitive agreement in order to complete the acquisition of mineral claims (the “Proposed Property Acquisition”).
Further details regarding the Proposed Property Acquisition will be provided in a news release, if and when the parties enter into a letter of intent and/or a definitive agreement.
The Proposed Property Acquisition is subject to, among other things, the completion of due diligence, completion of a National Instrument 43-101 technical report on the property, the execution of a mutually satisfactory definitive agreement and obtaining all necessary regulatory approvals, including the TSX Venture Exchange, if applicable.
On Behalf of the board of directors
About Great Atlantic Resources Corp.: Great Atlantic is a Canadian exploration company focused on the discovery and development of mineral assets in Atlantic Canada. The company 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: antimony, tungsten and gold.
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