VANCOUVER, British Columbia – June 28, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has conducted preliminary work at its Mascarene Cobalt-Copper-Nickel-Gold Property, locating historic workings and collecting rock and soil samples for multi-element analysis. The Mascarene Property is located in southwest New Brunswick. Great Atlantic entered into an option agreement early in 2018 to acquire 100-per-cent interest in the property (News Release of February 13, 2018). Historic rock rubble samples from historic workings include reported values of up to 17.5% copper, 0.52% cobalt, 0.38% nickel and 21.8 g/t gold.
Historic shaft at Mascarene Property (east region)
The Mascarene Property is reported to contain multiple copper +/- nickel, cobalt, gold occurrences with historic pits / shafts dating back to the 1800s (N.B. Dept. of Energy and Resource Development Mineral Assessment Reports and Mineral Occurrence Database files). Sulfide bearing veins are reported at some of these sites. Mafic intrusive (gabbro) is reported at some sites. Magnetic geophysics anomalies occur at the property, some over 5 kilometers long. Great Atlantic is targeting these anomalies as potential sources of mafic intrusive hosted copper-cobalt-nickel mineralization.
Great Atlantic recently located historic shallow pits and shafts in the eastern and western regions of the Mascarene Property. These included workings in the reported locations of the historic Oliver and Oliver-Cameron Mines (east region of the property) and the reported location of the historic Simpson Mine (west region of the property). The company collected rock samples of sulfide bearing rubble adjacent to these workings and sulfide bearing float. Sulfide mineralization was noted in both vein and host rock material. A small number of soil samples were also collected in the area of the workings in the west region of the property. The rock and soil samples have been submitted for multi-element analysis, which will include cobalt, nickel, copper, zinc, gold and silver. Analyses are pending for these samples. The June 2018 sampling program was conducted by a Qualified Person.
Zinc (Sphalerite) bearing rubble at historic Mascarene workings (west region)
Historic shallow pit at Mascarene Property (west region)
Historic grab samples (2004-2012) from the property are reported to contain significant levels of copper, cobalt, nickel and / or gold (source: N.B. Dept. of Energy and Resource Development Mineral Assessment Reports). These include samples from the mine dump adjacent to the historic Oliver Cameron shaft, of which at least 13 samples are reported to exceed 1% Cu (up to 7.73% Cu reported) while also reported to return up to 0.52% Co, 0.38% Ni and 4.67 g/t Au. Two historic rubble samples reported at the near-by historic Oliver shaft were reported to return 15.6% Cu and 0.993 g/t Au; and 17.5% Cu and 21.8 g/t Au. The June 2018 sampling program by Great Atlantic included the areas of the historic Oliver and Oliver Cameron workings.
Copper (chalcopyrite) bearing quartz vein rubble Mascarene historic workings
A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic anomalies within the property. Great Atlantic management speculate these anomalies to be associated to a buried mafic intrusion(s). David Martin, VP Exploration for Great Atlantic states “the magnetic anomalies are a target 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.” Of note the Mascarene property is located approximately 30 km southeast of the St. Stephen Ni-Cu-Co Property, with reported mineralization in both gabbro, metasediment and at the contact of gabbro and metasediments (source: ABE Resources Inc. website). Readers are warned that mineralization at the St. Stephen Ni-Co-Co Property is not necessarily indicative of the mineralization on the Great Atlantic’s Mascarene Property.
Source: N.B. Dept. of Energy and Resource Development Assessment Report No. 477530 (Stevens, 2013)
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 or in close proximity to the property.
Readers are warned that historic data referred to in this News Release have not been verified by a qualified person. The Company has collected sulfide bearing samples in areas of historic workings under the supervision of a qualified person. The Company has submitted samples from these areas for multi-element analysis including cobalt, nickel, copper, zinc, gold and silver.
David Martin, P.Geo., a Qualified Persons as defined by NI 43-101, is responsible for the technical information contained in this News Release. Mr. Martin is the VP Exploration for Great Atlantic Resources Corp.
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
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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.
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Great Atlantic Resource Corp
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