VANCOUVER, British Columbia – December 20, 2019 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed the 2019 exploration program at its Mascarene Property, located in southwest New Brunswick. The program consisted of prospecting and soil / rock geochemical sampling. The Mascarene Property is reported to contain multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and / or silver, some with historic workings. Initial 2019 rock samples from the west region of the property returned anomalous values including 0.16% zinc, 0.15% copper and 394 ppm vanadium (0.07% V2O5). Soil samples returned anomalous zinc values (up to 587 ppm Zn). More recent rock samples will be submitted for analysis.
Previous 2018 Great Atlantic rock samples from Mascarene include (News Release of October 17, 2018):
- 6% & 12.35% zinc, 4.34% lead & 41 g/t silver (rubble samples at historic Simpson workings).
- 02% copper & 2.0 g/t gold (rubble samples at historic Oliver – Oliver Cameron workings).
Historic pits / shafts are reported in multiple regions of the property dating back to the 1800s (New Brunswick. Dept. of Natural Resources and Energy Development Mineral Assessment Reports and Mineral Occurrence Database files). Sulfide bearing veins are reported at some of these sites. Great Atlantic located historic shallow pits and shafts in the east and west regions of the Mascarene Property during 2018.
A portion of the 2019 program was focused in the area of the historic Simpson Mine workings in the west region of the property, following up on results from the 2018 program. Sample highlights from the 2018 program in this area included 12.6 and 12.35% zinc, 4.34% lead and 41 g/t silver for rock samples and up to 855 ppm zinc for soil samples (News Release of October 17, 2018). Samples collected in this area during 2019 also returned anomalous values including 0.15% copper, 0.16% zinc and 0.08% lead for rock samples (float and rubble) and up to 587 ppm zinc and 161 ppm lead for soil samples. Of note, a rock grab sample from a mafic intrusive outcrop in this area returned 394 ppm vanadium (0.07% V2O5). These initial 2019 rock and soil samples were analyzed by ALS Canada Ltd. for gold by Fire Assay – Atomic Absorption (AA) and for 33 elements by four acid Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES).
Historic shallow pit at Mascarene Property (historic Simpson Mine workings)
More recent 2019 program work focused on the northeast and east regions of the property with additional rock samples collected. These samples will also be submitted to ALS Canada Ltd. for gold and multi-element analysis. ALS Canada Ltd. is independent of Great Atlantic Resources Corp. The 2019 program was managed and conducted by a Qualified Person.
Historic grab samples (2004-2012) from the property are reported to contain significant levels of copper, cobalt, nickel and / or gold (source: N.B. Dept. of Natural Resources and Energy Development Mineral Assessment Reports). These include samples from the mine dump adjacent to the historic Oliver Cameron shaft reported to exceed 1% copper (up to 7.73% Cu reported) while also reported to return up to 0.52% cobalt, 0.38% nickel and 4.67 g/t gold. Two historic rubble samples reported at the near-by historic Oliver shaft were reported to return 15.6% copper and 0.993 g/t gold; and 17.5% copper and 21.8 g/t gold.
A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic anomalies within the property. Great Atlantic management speculate these anomalies to be associated to a buried mafic intrusion(s). David Martin, VP Exploration for Great Atlantic states “the magnetic anomalies are a target for mafic intrusive hosted copper-nickel-cobalt deposits. Reported shallow vein-type mineralization at historic workings over magnetic anomalies may be indicative of deeper mafic intrusive hosted copper-cobalt-nickel mineralized bodies.”
Readers are warned that historic data referred to in this News Release have not been verified by a qualified person.
Source: N.B. Dept. of Natural Resources and Energy Development Assessment Report No. 477530 (Stevens, 2013)
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., 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
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.
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.