VANCOUVER, British Columbia March 9, 2021 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it completed the first two drill holes of its maiden diamond drilling program at its Mascarene Property, located in southwest New Brunswick. The first hole intersected volcanic-hosted zinc mineralization (sphalerite) within an approximately 5-meter core length interval.
The program is being conducted in the east region of the property testing within a broad magnetic high trend (identified during a 2001 government airborne magnetic survey) and an area of anomalous rock samples. This zone of magnetic high anomalies extends through the entire Mascarene Property, including the east region where drilling is underway. Rock samples collected by Great Atlantic during 2020 in this area returned highly anomalous zinc values and anomalous copper and gold values.
The first hole (MA21-1) was drilled under gabbro dyke outcrops and local highly altered outcrops with anomalous gold and elevated copper, cobalt and / or nickel based on 2020 sampling. Three subcrop and outcrop grab samples collected during 2020 within 80 meters of this drill hole returned highly anomalous values for zinc (3810, 5800 and 7810 ppm zinc). The hole was drilled at a 45-degree dip to the northwest approximately perpendicular to the magnetic high trend for a length of 149.5 meters. Zinc mineralization (sphalerite) was intersected at approximately 131.8-137 meters, hosted in volcanic rocks. The sphalerite is concentrated along narrow layers / bands subparallel to foliation and as veinlets. This may represent a new zinc discovery or the extension of a reported zone with highly anomalous zinc intersected during 2007 drilling by Pershing Resources Inc. approximately 70 meters west of MA21-1.
The second hole completed (MA21-3) was collared approximately 210 meters south of MA21-1. MA21-3 was drilled within the magnetic high trend approximately under a felsic volcanic outcrop hosting copper mineralization. Samples collected during 2020 from this outcrop returned anomalous copper values of 583, 806 and 1100 ppm copper. MA21-3 was drilled at a 45-degree dip slightly northeast to a length of 98 meters. This hole did not intersect significant sulfide mineralization. Drill core from holes MA21-1 and MA21-3 is being geologically logged and sampled. Samples will be submitted to a certified laboratory for gold assay and multi-element analysis.
MA21-2 is currently underway approximately 70 meters west of the MA21-1, testing under the 2007 Pershing Resources drill hole. Two outcrop grab samples collected during 2020 in the area of MA21-2 returned highly anomalous values of 5800 ppm zinc (0.58% Zn) and 7810 ppm zinc (0.78% Zn).
Gold, silver, copper, nickel, cobalt and / or zinc mineralization is reported locally within and / or adjacent to the magnetic high trend which transects the property. This includes two mineral occurrences with historic workings (Oliver Cameron Mine and Wheal Louisiana Mine occurrences) and within a small quarry referred to as the North Pit. Great Atlantic’s management speculate this magnetic high trend to be associated with a buried mafic intrusion(s) and a possible target for mafic intrusive hosted copper-nickel-cobalt deposits. A 2020 rock sample collected from a rubble pile at the Wheal Louisiana workings returned 6.19% copper and 0.40 g/t gold (see Company News Release of March 3, 2021). Rubble samples collected during 2018 at the Oliver Cameron workings returned up to 5.02% copper and 2.0 g/t gold (see Company News Release of October 17, 2018).
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
“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.
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