VANCOUVER, British Columbia, MARCH 30, 2021 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed the fourth and final drill hole (MA21-4) of its maiden diamond drilling program at its Mascarene Property, located in southwest New Brunswick. This hole was drilled into an untested magnetic high anomaly in the east region of the property. It was drilled at an 80-degree dip and deeper (hole length of 315 meters) relative to the first three holes. MA21-4 intersected local narrow veins containing sulfide mineralization (including copper sulfides) and intervals with magnetite mineralization. Drill core from all four holes is currently being sampled.
The maiden diamond drilling program was conducted in the east region of the property testing within and adjacent to a broad magnetic high trend (identified during a 2001 government airborne magnetic geophysical survey) and an area of anomalous rock samples. Rock samples collected by Great Atlantic during 2020 in this area returned highly anomalous zinc values (including outcrop grab samples returning 5800 ppm and 7810 ppm zinc) and anomalous copper and gold values. The four drill holes, MA20-1 to MA20-4, totaled 717 meters. The drilling program was supervised by a Qualified Person.
Drill core from program is being geologically logged and selectively sampled under the supervision of a Qualified Person. Sampling will include select sulfide bearing veins, a 5.2-meter core length interval in hole MA20-1 with zinc mineralization (sphalerite) and select intervals with magnetite mineralization. Samples will be submitted to a certified laboratory for gold assay and multi-element analysis.
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 / or being close to 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.
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