Great Atlantic has Completed the Final Option Payment on its 100% Owned South Quarry Tungsten Property, Newfoundland
FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – February 20, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has made the final option payment for its South Quarry Tungsten Property, located in east-central Newfoundland. The property hosts tungsten mineralization in multiple areas, including high grade veins. Multiple grab samples collected by Great Atlantic in 2015 exceeded 5% WO3 (W% x 1.26 = WO3%) (News Release of November 19, 2015).
Tungsten Bearing Pegmatite Veins at South Quarry
Tungsten bearing pegmatite veins occur in the northern region of the property including at a quarry referred to as the South Quarry and an adjacent smaller quarry. Great Atlantic confirmed high grade tungsten mineralization (scheelite) in veins in rubble and bedrock at these quarries during 2015 (News Release of November 19, 2015). Eleven rubble grab samples exceeded 5% WO3 (W % x 1.26 equals WO3%). A 20 cm long channel sample along a 15cm wide vein in the small quarry returned 2.96% WO3 while a grab sample from a 0.25 meter wide vein in the South Quarry returned 11.94% WO3. A qualified person verified this sample data. The qualified person supervised the 2015 sampling and verified the sample data. The samples (and lab-inserted blank, duplicate and standard samples) were analyzed at ALS Minerals in Sudbury, Ontario (ALS Minerals is independent of Great Atlantic Resources). Tungsten analysis was by lithium metaborate fusion followed by acid dissolution and ICP-MS analysis with some samples re-analyzed by XRF.
Scheelite – bearing vein cutting metasediment rubble
Tungsten mineralization is reported in the southern region of the property, reported in narrow (<1m) calc-silicate horizons (source: Newfoundland and Labrador Dept. of Natural Resources Mineral Assessment Reports). A qualified person has not verified this mineralization.
Great Atlantic is planning work in 2018, to be focused in the area of the South Quarry and adjacent small quarry. Additional sampling of veins is planned to provide data on tungsten grade and distribution of tungsten bearing veins. The company will apply for diamond drilling and stripping permits for this area. Pending results of this work, the company is considering metallurgical studies including ore sorting technologies. The company is also planning diamond drilling further north of these quarries where 2016 trenching exposed tungsten bearing veins. The Company has received a permit to drill five holes in this area.
The South Quarry Property covers an area of 3,600 hectares. Access to the property is excellent with a paved road transecting the property.
Christopher R. Anderson, President, stated “ Mr. Martin and Myself were an integral part of the initial Management team that advanced the Sisson Tungsten-Molybdenum Project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry Tungsten Property, although early stage, has the ear marks of being a significant asset for the company. Currently Great Atlantic has two Joint Venture partners and we would be happy to welcome a third to assist in advancing the South Quarry Tungsten Project.”
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.
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.
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
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.
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