VANCOUVER, British Columbia – October 17, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analytical results for rock and soil samples collected during the 2018 program at its Mascarene Property in southwest New Brunswick. Highlights from 2018 sampling in areas of historic workings include:
- Rubble grab samples return 12.65 and 12.30% zinc.
- Rubble grab samples return up to 2.01 grams / tonne (g/t) gold, 5.02% copper, 0.22% nickel and 0.14% cobalt.
- Zinc soil anomalies up to 855 parts per million (ppm).
Prospector Dave Stevens with zinc bearing rubble is area of historic Mascarene workings
The Mascarene Property is reported to contain multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and / or silver. Historic pits / shafts are reported in multiple regions of the property dating back to the 1800s (New Brunswick. 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.
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. Sulfide mineralization was noted in both vein and host rock material, some samples interpreted to be volcanic rocks. Soil samples were also collected in the west region of the property in the area of historic workings. This sampling program was conducted by a Qualified Person. Highlights of the sampling include:
West Region – area of historic Simpson Mine:
- Three rubble grab samples return:
12.35% Zn, 4.34% lead and 41 grams / tonne (g/t) silver;
12.60% zinc; and 1.10% zinc
- Zinc soil anomalies of 507, 751 and 855 ppm zinc.
East Region – area of historic Oliver and Oliver Cameron Mines:
- Seven rubble grab samples return 1.84 – 5.02% copper.
- Rubble grab samples return up to 2.01 g/t gold, 0.22% nickel and 0.14% cobalt.
Historic shallow pit at Mascarene Property (west region)
The 2018 soil samples were analyzed for gold by Fire Assay – Atomic Absorption (AA) and for 33 elements by four acid Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES). The 2018 rock samples were analyzed for gold by Fire Assay-AA and for cobalt, copper, nickel, lead, zinc and silver by four acid ICP-AES.
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 reported to exceed 1% copper (up to 7.73% Cu reported) while also reported to return up to 0.52% cobalt, 0.38% nickel and 4.67 g/t gold. Two historic rubble samples reported at the near-by historic Oliver shaft were reported to return 15.6% copper and 0.993 g/t gold; and 17.5% copper and 21.8 g/t gold.
Copper (chalcopyrite) and gold 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.
Readers are warned that historic data referred to in this News Release have not been verified by a qualified person.
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.
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:
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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
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