VANCOUVER, British Columbia, February 4, 2021 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has signed a diamond drilling contract with Rally Drilling Services for a February drilling program at its Mascarene Property, located in southwest New Brunswick. The program is planned for the east region of the property testing within a broad magnetic high trend. Copper, cobalt, nickel and gold mineralization is reported in this region of the Mascarene Property.
A 2001 government airborne magnetic survey identified magnetic high anomalies within the Mascarene Property including a broad northeast trending zone of magnetic high anomalies which extends through the east region of the property. Gold, copper, nickel and cobalt mineralization is reported locally within this magnetic trend including two mineral occurrences with historic workings (Oliver Cameron and Wheal Louisiana) and within a small quarry referred to as the North Pit. Historic rock samples from the area of the North Pit are reported up to 0.45% copper, up to 0.31% cobalt and up to 0.30% nickel. Some historic samples from this pit are also reported to be anomalous for gold.
Great Atlantic management speculate these magnetic high anomalies to be associated with a buried mafic intrusion(s). David Martin, VP Exploration for Great Atlantic states “the magnetic anomalies are targets for mafic intrusive hosted copper-nickel-cobalt deposits. Reported shallow vein-type mineralization at historic workings over or near magnetic anomalies may be indicative of deeper mafic intrusive hosted copper-cobalt-nickel mineralized bodies.”
The February drilling will be conducted in the area of the North Pit testing one part of the broad magnetic trend. Some rock samples collected by Great Atlantic during 2020 in the area of the planned drilling returned anomalous values for copper and gold. Assays are pending for rock samples collected during the Company’s December 2020 trenching program in this area. The drilling program will be a minimum 600 meters with at least 3 holes planned.
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.
Readers are warned that historic data for the North Pit referred to in this News Release have not been verified by a qualified person.
David Martin, P.Geo., 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 “Always be positive, strive for solutions, and never give up”
President CEO Director
604-488-3900 – Dir
Please call 604-488-3900
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, Antimony, Tungsten and Gold.