VANCOUVER, British Columbia – July 8, 2020 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”)is pleased to announce it has begun the 2020 exploration program at its Mascarene Property, located in southwest New Brunswick. The Company is currently conducting prospecting and soil / rock geochemical sampling in the east region of the property in an area of reported gold, copper, cobalt and nickel mineralization and historic shafts. This work includes the area of the Oliver – Oliver Cameron historic workings where Great Atlantic 2018 mine dump rock samples returned up to 2.0 g/t gold and 5.0% copper.
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). Sulfide bearing veins are reported at some of these sites. Great Atlantic located historic shallow pits and shafts in the east and west regions of the Mascarene Property during 2018. Historic shafts are located within the east region of the property at the Oliver and Oliver-Cameron workings. Great Atlantic is currently conducting prospecting and rock / soil geochemical sampling in the area of the Oliver and Oliver Cameron workings and the area of a small quarry referred to in historic reports as the North Pit (located approximately 700 – 800 meters northeast of the Oliver Cameron workings). Reported rock sample highlights within this target area include:
- 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).
- Historic 2004 and 2011 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.
A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic anomalies within the property including a broad magnetic anomaly or anomalies extending through the area of the Oliver and Oliver Cameron workings and 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.”
Readers are warned that historic data for the North Pit referred to in this News Release have not been verified by a qualified person.
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
Mr. Christopher R. Anderson “Always be positive, strive for solutions, and never give up”
President CEO Director
604-488-3900 – Dir
Investor Relations:
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