VANCOUVER, British Columbia – December 15th, 2020 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has begun a trenching program at its Mascarene Property, located in southwest New Brunswick. The program is being conducted within the east region of the property testing areas of historically reported copper, cobalt and nickel mineralization within a broad magnetic high trend.
The December trenching program is being conducted in the area of two small quarries, one of which is referred to in historic reports 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. The north pit has since been backfilled. Trenching will be conducted adjacent to the North Pit.
Some rock samples collected during 2020 by Great Atlantic from the area of the second small quarry returned anomalous values for copper and gold. Trenching is planned adjacent to this quarry. Rock geochemical samples will be collected during the program.
Historic pits / shafts are reported in multiple regions of the Mascarene Property dating back to the 1800s (New Brunswick. Dept. of Natural Resources and Energy Development Mineral Assessment Reports and Mineral Occurrence Database files), of which Great Atlantic has located such workings in the south, west and east regions of the property. Sulfide bearing veins are reported at some of these sites. One such location of historic shafts in the east region of the property is at the Oliver and Oliver-Cameron workings, which are located approximately 700 – 800 meters southwest of the North Pit. Seven rock rubble samples collected by Great Atlantic during 2018 in the area of the Oliver and Oliver Cameron workings returned 1.84 – 5.02% copper and up to 2.01 grams per tonne (g/t) gold, up to 0.22% nickel and up to 0.14% cobalt (Company News Release of October 17, 2018).
A 2001 government airborne magnetic survey identified magnetic anomalies within the property including a broad magnetic high trend extending through the area of the Oliver and Oliver Cameron workings and the area of the North Pit. Great Atlantic management speculate these 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 magnetic anomalies may be indicative of deeper mafic intrusive hosted copper-cobalt-nickel mineralized bodies.”
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.
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