Great Atlantic Optionee Completes Silt Sampling At Kagoot Brook Cobalt Project Awaiting Magnetometer And VLF-EM Results Before Initiating Drill Program.
Great Atlantic Commissions National Instrument 43-101 Technical Report on Golden Promise Gold Property Central Newfoundland Gold Belt
October 30, 2018
Great Atlantic Board Adopts Advance Notice Policy
November 6, 2018Great Atlantic Optionee Completes Silt Sampling At Kagoot Brook Cobalt Project Awaiting Magnetometer And VLF-EM Results Before Initiating Drill Program.
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FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – November 5, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSX.v: GR) (the “Company” or “Great Atlantic”) announces its optionee Explorex Resources Inc: (EX:TSXv) has completed silt sampling at the Kagoot Brook Cobalt project. Historical work at Kagoot Brook delineated two drainages, two kilometres apart, that exhibit remarkably high cobalt values up to 6,000 ppm* in the silts (see Company news releases dated May 31 and February 14, 2018).
An initial steam silt sampling program conducted this summer corroborated the existence and intensity of the cobalt mineralization. The silt sample results also revealed a significant concentration of and a strong relationship of cobalt with manganese and associated base metals (nickel, copper, lead and zinc).
The observed suite of elements and local geological units supports a ferromanganese marine environment indicating a strong affinity and trap for cobalt and base metals; a setting similar to the well-known ferromanganese stratiform mineralizing models around the world.
The recent follow-up stream silt sampling program designed with tightly spaced sample stations was successful in framing the upstream cobalt grade cut-off that is interpreted to be coincident with the contact of the underlying mineralized horizon. The grade cut-offs align well with stratigraphy adding confidence to the stratiform model and length of mineralization along the geological trend.
In addition, the latest results maintain:
- The amount of manganese and iron in the cobalt enriched silts, upwards to 6.2% and 28.3% respectively, indicates a prevalent source with size potential; and
- The relative percentage of the manganese to cobalt indicates a favourable high cobalt tenor (i.e. grade component).
To further define the underlying stratigraphy and delineate the drill target, the Company awaits the results from a detailed magnetometer and very low frequency electromagnetic (“VLF-EM”) survey performed at Kagoot Brook.
Once these additional surveys have been completed and integrated with the historical work, a drill program is planned.
No drilling has ever been conducted and no source of the historic geochemical anomalies is known on the property.
*Note: The stream silt samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Silt samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the projects.
Technical information in this news release has been reviewed by David Martin, PGeo, a qualified person as that term is defined in National Instrument 43-101.
Option agreement
The Kagoot Brook property is 100 per cent owned by Great Atlantic and is subject to an underlying agreement with Explorex Resources Inc. Explorex is acquiring up to a 75-per-cent interest in the project. (See news release dated Feb. 14, 2018.)
About Great Atlantic Resources Corp.: Great Atlantic Resources 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 No. 1 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, cobalt, zinc, 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
604-488-3900 – Dir
Investor Relations:
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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.