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Great Atlantic Resources Corp (3)
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Close 2019-09-30 C$ 0.41
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Great Atlantic increases Glenelg holdings to 3,500 ha

2019-09-30 12:19 ET - News Release

Mr. Christopher Anderson reports


Great Atlantic Resources Corp. has expanded its Glenelg vanadium property by means of additional mineral claim staking. The property, located in southwest New Brunswick, has been approximately tripled in size to the current area of approximately 3,500 hectares. The property hosts vanadium and titanium mineralization, occurring within the Bocabec gabbro complex.

Company and reported historic bedrock grab samples from within the Glenelg property from the layered Bocabec gabbro complex returned significant levels of vanadium and titanium. Historic grab bedrock samples are reported to return significant levels for gold, cobalt and bismuth.

The recent mineral staking by the company significantly expanded the Glenelg property to the west-northwest, covering additional ground reported to be underlain by the Silurian Bocabec gabbro complex (intrusive complex including gabbro, granodiorite, diorite and granite), areas of reported magnetic anomalies and three gold occurrences (as reported within the New Brunswick Department of Energy and Resource Development mineral occurrence files). Such magnetic anomalies are interpreted by company management to be targets for vanadium-bearing and titanium-bearing magnetite-rich layers within the complex. A reported 1990 bedrock grab sample of quartz-sulphide breccia from one of the gold occurrences was reported to return 1.33 grams per tonne gold.

A 2018 grab sample collected by the company from a magnetic layer in the Bocabec gabbro complex returned 0.188 per cent vanadium (0.33 per cent vanadium oxide), 10.3 per cent titanium dioxide and 25.71 per cent iron. This sample was collected within the southeast region of the property, within the original mineral claims acquired by the company. It was collected by a qualified person. This sample was analyzed by ALS Canada Ltd. by XRF fusion.

Another 2018 bedrock grab sample from the same southeast region of the property was reported to return 0.234 per cent vanadium (0.42 per cent vanadium oxide), 7.34 per cent titanium (12.2 per cent titanium dioxide) and 28.8 per cent iron. This sample was collected by one of the company's option partners for the property. A 2013 sample from this region was reported to return 16.5 per cent titanium (27.5 per cent titanium dioxide). These samples have not been verified by a qualified person.

Polymetallic veins are reported within the Glenelg property. A grab sample collected during 2006 was reported to return 2.6 grams per tonne gold and 0.65 per cent cobalt. A 2013 grab sample from a sulphide vein was reported to return 14 grams per tonne gold, 1.28 per cent bismuth and 0.12 per cent cobalt. Both samples are reported within the southeast region of the property, within the original mineral claims acquired by the company. These samples have not been verified by a qualified person.

The Glenelg property has seen little exploration. Company management cannot find evidence of historical drilling within the property.

The Glenelg property is located immediately south of the Clarence Stream gold project of Galway Metals Inc. A portion of the northern boundary of the Glenelg property borders Galway's Clarence Stream gold project. Galway reported a National Instrument 43-101 resource estimate for the project during 2017, reporting total measured plus indicated resources of 6,178,000 tonnes at 1.96 grams per tonne gold (390,000 ounces of gold) and total inferred resources of 3,409,000 tonnes at 2.53 grams per tonne gold (277,000 ounces of gold). Galway reported a new gold discovery at the Clarence Stream gold project earlier this year, with one hole reported to intersect 7.3 grams per tonne gold over 36.7 metres of core length (Galway news release dated Feb. 13, 2019).

The Glenelg vanadium property is located within southwest New Brunswick, approximately 17 kilometres east of the town of St. Stephen and approximately 15 kilometres northwest of the company's Mascarene property, which hosts multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and/or silver.

Readers are warned that mineralization at the Clarence Stream gold project and the company's Mascarene property is not necessarily indicative of mineralization within the Glenelg vanadium property.

David Martin, PGeo, a qualified person as defined by NI 43-101, vice-president of exploration at Great Atlantic, is responsible for the technical information contained in this news release.

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, sovereign, risk-free realm of Atlantic Canada. Great Atlantic is currently surging forward and 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.

We seek Safe Harbor.

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