VANCOUVER, British Columbia, February 22, 2022 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has commenced a diamond drilling program at its Mascarene Property, located in southern New Brunswick. The program is being conducted at the Wheal Louisiana mineral occurrence which includes historic shafts. Gold, copper, nickel and cobalt mineralization is reported at multiple locations in this area. A 2020 Great Atlantic rock sample from one rock dump returned 6.19% copper and 0.40 grams / tonne (g/t) gold.
The current drilling program is being conducted within the southern region of the Mascarene Property at the Wheal Louisiana mineral occurrence. Two shafts were sunk at this occurrence in the 1850s. Other historic pits exist in this area. Sulfide bearing quartz veins occur in this target area. Limited sampling by Great Atlantic during 2020 confirmed anomalous copper and gold 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, 0.404 g/t gold and an anomalous value of 107 ppm cobalt. Two quartz vein rubble samples returned anomalous values for copper (up to 0.86% Cu) and gold (up to 0.19 g/t gold).
The drilling program will test areas of reported copper soil anomalies and historic pits / shafts at the Wheal Louisiana adjacent to a broad northeast trending zone of magnetic high anomalies (identified during a 2001 government airborne magnetic survey). This zone of magnetic high anomalies extends through the entire Mascarene Property, including the southern region where drilling is underway. 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 drilling program is planned for 600 meters with 4 holes planned and is being supervised by a Qualified Person.
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 is independent of ALS Canada Limited.
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
IR @ GreatAtlanticResources.com
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.
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