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Great Atlantic Resources Corp (3)
Symbol GR
Shares Issued 6,151,411
Close 2019-10-03 C$ 0.40
Recent Sedar Documents

Great Atlantic receives $25,000 in funding from N.B.

2019-10-09 09:23 ET - News Release

Mr. Christopher Anderson reports

GREAT ATLANTIC RECEIVES $25,000 EXPLORATION GRANT FOR GLENELG VANADIUM PROPERTY - SOUTHWEST NEW BRUNSWICK

Great Atlantic Resources Corp. has been approved for funding in the amount of $25,000 from the New Brunswick Department of Energy and Resource Development for its 2019 exploration program on the Glenelg vanadium property, located in southwest New Brunswick. The grant is funded under the New Brunswick Junior Mining Assistance Program.

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:

  • Vanadium, titanium and iron mineralization in layered Bocabec gabbro complex;
  • Company and historic bedrock grab samples of 0.33 per cent and 0.42 per cent vanadium oxide, and 27.5 per cent titanium dioxide;
  • Historic bedrock grab samples of 14 grams per tonne Au, 1.28 per cent Bi and 0.65 per cent Co.

Great Atlantic is currently conducting exploration within the Glenelg property consisting of prospecting, rock geochemical sampling and geophysical surveying. The company is planning trenching and diamond drilling this fall at the property, the focus being exploration for vanadium and titanium within the Silurian Bocabec gabbro complex. The program will be partially financed by the $25,000 New Brunswick Junior Mining Assistance Program funding. Great Atlantic must incur at least $50,000 in total exploration expenditures during 2019 on the property to qualify for the New Brunswick Junior Mining Assistance Program funding.

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 V2O5), 10.3 per cent TiO2 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.

Layered Bocabec gabbro complex

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 V2O5), 7.34 per cent titanium (12.2 per cent TiO2) 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 TiO2). 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 g/t 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 company acquired the Glenelg property earlier in 2019 and recently expanded the property threefold to the current area of approximately 3,500 hectares (company news releases of May 6 and Sept. 30, 2019). The recent mineral staking by the company significantly expanded the Glenelg proeprty 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 and titanium bearing magnetite-rich layers within the compex. A reported 1990 bedrock grab sample of quartz-sulphide breccia from one of the gold occurrences was reported to return 1.33 g/t gold.

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 g/t gold (390,000 ounces of gold) and total inferred resources of 3,409,000 tonnes at 2.53 g/t 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 g/t gold over 36.7 m core length (Galway news release of Feb. 13, 2019).

The Glenelg vanadium property is located within southwest New Brunswick approximately 20 km east of the town of St. Stephen and approximately 15 km northwest of the company's Mascarene property which hosts multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and/or silver. The Glenelg vanadium property covers an area of approximately 1,185 hectares.

Readers are warned that mineralization at the Clarence Stream gold project and the company's Mascarene property are not necessarily indicative of mineralization within the Glenelg vanadium property. Readers are warned that historic data referred to in this news release have not been verified by a qualified person.

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

About Great Atlantic Resources Corp.

Great Atlantic 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.

We seek Safe Harbor.

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