VANCOUVER, British Columbia – August 16 2022 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has made a new antimony discovery at its Glenelg Vanadium – Gold – Antimony Property, located in southwest New Brunswick. A bedrock grab sample weighing 1.83 kilograms (4.03 pounds) from a newly discovered quartz – carbonate – stibnite vein returned a high-grade value of 23.4% antimony. The vein contains massive stibnite. Rock samples from another area of the Glenelg Property returned anomalous gold and antimony values. The Glenelg Property is located immediately south of the Clarence Stream Project of Galway Metals Inc. (TSXV.GWM).
The quartz – carbonate – stibnite vein was discovered during 2022 prospecting within the southern region of the Glenelg Property. The vein occurs in a highway-cut bedrock exposure. Massive stibnite (antimony sulfide) occurs locally within the vein at the exposure. The vein strikes northwest and is steeply dipping. The vein is 0.6 meters wide where the 1.83-kilogram grab sample was collected. The recent analytical results confirm high grade antimony in the sample. The grab sample returned 23.4% antimony and anomalous values of 2,040 ppm lead and 1,555 ppm zinc. The loss on ignition for the sample was 6.90 %. This is a relatively underexplored area with no drilling reported in the area of the antimony occurrence.
The Company also received gold assays and multi-element analyses for rock samples collected from another area within the Glenelg Property. The samples were float samples from the area of the Johnson Lake gold-silver occurrence (New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence Database), also located in the southern region of the Glenelg Property. Three float samples of siliceous and / or silicified rock with sulfides and +/- quartz veins returned anomalous value of 522 ppm antimony; 0.174 grams / tonne (g/t) gold and 227 ppm antimony; and 0.163 g/t gold.
The 2022 prospecting and rock geochemical sampling at the Glenelg Property was / is being supervised by a Qualified Person. The Company is currently conducting prospecting and geochemical sampling within the property. The rock samples reported previously in this news release were assayed for gold and analyzed for 33 elements (including antimony, copper, lead, zinc and silver) by ALS Canada Ltd. Gold assays were by fire assay – AA while multi-element analysis was by four acid – ICP-AES. The high-grade antimony sample was also analyzed by XRF (following lithium borate fusion) after initial analyses of the sample by ICP-AES exceeded 10,000 ppm (>1%) and 50,000 ppm (>5%) antimony. ALS Canada Ltd., a certified laboratory, is independent of Great Atlantic.
Through a review of historical information, the Company has identified target areas for gold exploration within the property with historic rock samples from at least four areas reported to exceed 1 g/t gold (including a sample reported to return 14 g/t gold). This mineralization has not been verified by a Qualified Person.
A 2018 grab sample collected by the Company from a magnetic layer in the Bocabec Gabbro Complex returned 0.188% vanadium (0.33% V2O5), 10.3% TiO2 and 25.71% iron (see Company new release of May 6, 2019). This sample was collected by a Qualified Person within the southeast region of the Glenelg Property. This sample was analyzed by ALS Canada Ltd. by lithium borate fusion and XRF finish.
Part of the northern boundary of the Glenelg Property borders the Clarence Stream Project of Galway Metals Inc. Galway reported a NI 43-101 resource estimate for the project this year, reporting total Indicated resources of 12,396,000 tonnes at 2.31 g/t gold (contained 922,000 ounces of gold and 9,605 tonnes of antimony) and total Inferred resources of 15,963,000 tonnes at 2.60 g/t gold (contained 1,334,000 ounces of gold and 2,145 tonnes of antimony).
The Glenelg Property is located within southwest New Brunswick approximately 17 kilometers east of the town of St. Stephen and approximately 15 kilometers northwest of the Company’s Mascarene Property which hosts multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and / or silver.
Readers are warned that mineralization at the Clarence Stream Project and the Company’s Mascarene Property are not necessarily indicative of mineralization within the Glenelg 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