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Great Atlantic Resources Corp (3)
Symbol GR
Shares Issued 6,572,464
Close 2019-11-19 C$ 0.50
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Great Atlantic begins phase 1 drilling at Glenelg

2019-11-19 12:30 ET - News Release

Mr. Christopher Anderson reports

GREAT ATLANTIC COMMENCES DIAMOND DRILLING PROGRAM GLENELG VANADIUM PROPERTY SOUTHWEST NEW BRUNSWICK

Great Atlantic Resources Corp. has begun the phase 1 diamond drilling program on its Glenelg vanadium property, located in southwestern New Brunswick. The program will test areas of vanadium-bearing and titanium-bearing outcrop and magnetic geophysical anomalies. The program is partially funded through the New Brunswick Junior Mining Assistance Program (NBJMAP).

The drilling program is being conducted in the southeast region of the Glenelg property, within the Bocabec gabbro complex. Company and reported historic bedrock grab samples from this region of the property returned significant levels of vanadium and titanium. Highlights include:

  • 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 as well as 27.5 per cent titanium dioxide;
  • Historic bedrock grab samples of 14 grams per tonne gold, 1.28 per cent bismuth and 0.65 per cent cobalt.

A 2018 grab sample collected by the company in the area of the current phase 1 drilling program 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 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 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. 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 dated May 6, 2019, and Sept. 30, 2019). The recent mineral claim 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 in the New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence files). Such magnetic anomalies are interpreted by company management to be targets for vanadium-bearing/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.

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 southwestern New Brunswick, approximately 20 kilometres east 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. 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, 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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