Mr. Christopher Anderson reports
GREAT ATLANTIC COMPLETES DIAMOND DRILLING PROGRAM GLENELG VANADIUM PROPERTY - SOUTHWEST NEW BRUNSWICK
Great Atlantic Resources Corp. has completed the phase 1 diamond drilling program on its Glenelg vanadium property, located in southwestern New Brunswick. The program consisted of three holes (308 total metres) which tested magnetic geophysical anomalies within the Bocabec gabbro complex. The program was stopped prematurely. A target area with vanadium-titanium-bearing outcrops could not be accessed during the program due to very wet fall conditions. The program was partially financed through the New Brunswick Junior Mining Assistance Program (NBJMAP).
The 2019 phase 1 drilling program was conducted in the southeast region of the Glenelg property within the Bocabec gabbro complex. The program tested magnetic geophysical anomalies. Such magnetic anomalies are interpreted by company management to be targets for vanadium and titanium bearing magnetite-rich layers within the complex.
Glenelg property 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 pentoxide (V2O5) and 27.5 per cent titanium oxide (TiO2);
- Historic bedrock grab samples of 14 grams per tonne gold, 1.28 per cent bismuth and 0.65 per cent cobalt.
Company bedrock grab samples and reported historic bedrock grab samples from the southeast region of the property returned significant levels of vanadium and titanium. A 2018 grab sample collected by the company in this region 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 by a qualified person. This sample was analyzed by ALS Canada Ltd. by X-ray fluorescence 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 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. The area of these outcrops could not be accessed during the 2018 drilling program due wet fall conditions.
The drill core has been transported to a secure facility for processing. Drill core samples will be submitted to a certified, independent laboratory for multielement analysis including vanadium, titanium and iron.
Polymetallic veins are reported within the Glenelg property. A grab sample collected during 2006 was reported to return 2.6 grams per tonne (g/t) 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. These samples have not been verified by a qualified person.
The company acquired the Glenelg property earlier in 2019 and subsequently expanded the property threefold to the current area of approximately 3,500 hectares (company news releases of May 6 and Sept. 30, 2019) to cover a broader area of the Siluran Bocabec gabbro complex (intrusive complex including gabbro, granodiorite, diorite and granite) with multiple reported magnetic anomalies and three gold occurrences.
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 southwestern New Brunswick approximately 20 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 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, exploration, for Great Atlantic, is responsible for the technical information contained in this news release.
bout 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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