Mr. Christopher Anderson reports
GREAT ATLANTIC RESOURCES LOCATES TUNGSTEN MINERALTION IN NEW TARGET AREA AND EXPANDS ITS 100% OWNED SOUTH QUARRY TUNGSTEN PROPERTY, CENTRAL. NEWFOUNDLAND
Great Atlantic Resources Corp. has recently located tungsten mineralization in a new target area at its 100-per-cent-owned South Quarry tungsten property, located in east-central Newfoundland. The tungsten mineralization occurs in quartz-dominant veins in bedrock at a historic trench/stripped area. This site is within the northern region of the property and northeast of the quarry referred to as the South quarry. The company has also expanded the property from 1,350 to 1,925 hectares.
Tungsten-bearing pegmatite veins occur in the northern region of the property including the South quarry and an adjacent smaller quarry. Great Atlantic confirmed high-grade tungsten mineralization (scheelite) in veins in rubble and bedrock at the two quarries during 2015 (news release of Nov. 19, 2015), including:
- Eleven rubble grab samples exceeded 5 per cent tungsten trioxide (W per cent multiplied by 1.26 equals WO3 per cent).
- A 20-centimetre-long channel sample along a 15-centimetre-wide vein returned 2.96 per cent WO3.
- A grab sample from a 25-centimetre-wide vein in the South Quarry returned 11.94 per cent WO3.
- Historic trench/stripped area with tungsten-bearing quartz-dominant veins.
The 2019 program focused on the central-northern regions of the South Quarry property, exploring for new zones of tungsten mineralization. The program consists of focused prospecting and rock geochemical sampling and ground magnetic and electromagnetic geophysical surveys. Tungsten mineralization (scheelite) was located during the program within a new target area in the northern region of the property. Scheelite-bearing quartz-dominant veins were located within bedrock at a historic trench/stripped area in this new target area. Bedrock grab samples were collected from this site which will be submitted to a certified laboratory for tungsten analysis. The program was supervised by a qualified person.
A qualified person verified the 2015 sample data. The qualified person supervised the 2015 sampling. The 2015 samples (and lab-inserted blank, duplicate and standard samples) were analyzed at ALS Canada Ltd. (ALS Canada is independent of Great Atlantic Resources). Tungsten analysis was by lithium borate fusion followed by ICP-MS analysis with some samples reanalyzed by XRF.
David Martin, PGeo, a qualified person as defined by National Instrument 43-101 and vice-president of exploration for Great Atlantic, is responsible for the technical information contained in this news release.
Christopher R. Anderson, president, chief executive officer and director, stated: "Mr. Martin and myself were an integral part of the initial management team that advanced the Sisson tungsten-molybdenum project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry tungsten property, although early stage, has the earmarks of being a significant asset for the company."
The South Quarry property was recently expanded to the current area of 1,925 hectares. Access to the property is excellent with a paved road transecting the property.
The company has granted 225,000 stock options at an exercise price of 41 cents to its directors, officers, employees and consultants. The options are exercisable for five years, and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the company. The stock options are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
About Great Atlantic Resources Corp.
Great Atlantic Resources 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 No. 1 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.
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