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Great Atlantic Resources Corp (3)
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Shares Issued 6,572,464
Close 2019-12-13 C$ 0.50
Recent Sedar Documents

Great Atlantic completes Mascarene exploration program

2019-12-20 09:20 ET - News Release

Mr. Mr. Christopher Anderson reports

GREAT ATLANTIC COMPLETED 2019 WORK PROGRAM MASCARENE PROPERTY

Great Atlantic Resources Corp. has completed the 2019 exploration program at its Mascarene property, located in southwest New Brunswick. The program consisted of prospecting and soil/rock geochemical sampling. The Mascarene property is reported to contain multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and/or silver, some with historic workings. Initial 2019 rock samples from the west region of the property returned anomalous values including 0.16 per cent zinc, 0.15 per cent copper and 394 parts per million vanadium (0.07 per cent V2O5). Soil samples returned anomalous zinc values (up to 587 ppm Zn). More recent rock samples will be submitted for analysis.

Previous 2018 Great Atlantic rock samples from Mascarene include (news release of Oct. 17, 2018):

  • 12.6 per cent and 12.35 per cent zinc, 4.34 per cent lead and 41 grams per tonne silver (rubble samples at historic Simpson workings);
  • 5.02 per cent copper and 2.0 g/t gold (rubble samples at historic Oliver-Oliver Cameron workings).

Historic pits/shafts are reported in multiple regions of the property dating back to the 1800s (New Brunswick Department of Natural Resources and Energy Development mineral assessment reports and mineral occurrence database files). Sulphide-bearing veins are reported at some of these sites. Great Atlantic located historic shallow pits and shafts in the east and west regions of the Mascarene property during 2018.

A portion of the 2019 program was focused in the area of the historic Simpson mine workings in the west region of the property, following up on results from the 2018 program. Sample highlights from the 2018 program in this area included 12.6 and 12.35 per cent zinc, 4.34 per cent lead and 41 g/t silver for rock samples and up to 855 ppm zinc for soil samples (news release of Oct. 17, 2018). Samples collected in this area during 2019 also returned anomalous values including 0.15 per cent copper, 0.16 per cent zinc and 0.08 per cent lead for rock samples (float and rubble) and up to 587 ppm zinc and 161 ppm lead for soil samples. Of note, a rock grab sample from a mafic intrusive outcrop in this area returned 394 ppm vanadium (0.07 per cent V2O5). These initial 2019 rock and soil samples were analyzed by ALS Canada Ltd. for gold by fire assay-atomic absorption (AA) and for 33 elements by four-acid inductively coupled plasma-atomic emission spectroscopy (ICP-AES).

More recent 2019 program work focused on the northeast and east regions of the property with additional rock samples collected. These samples will also be submitted to ALS Canada Ltd. for gold and multielement analysis. ALS Canada Ltd. is independent of Great Atlantic Resources. The 2019 program was managed and conducted by a qualified person.

Historic grab samples (2004 to 2012) from the property are reported to contain significant levels of copper, cobalt, nickel and/or gold (source: N.B. Department of Natural Resources and Energy Development mineral assessment reports). These include samples from the mine dump adjacent to the historic Oliver Cameron shaft reported to exceed 1 per cent copper (up to 7.73 per cent Cu reported) while also reported to return up to 0.52 per cent cobalt, 0.38 per cent nickel and 4.67 g/t gold. Two historic rubble samples reported at the nearby historic Oliver shaft were reported to return 15.6 per cent copper and 0.993 g/t gold; and 17.5 per cent copper and 21.8 g/t gold.

A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic anomalies within the property. Great Atlantic management speculate these anomalies to be associated to a buried mafic intrusion(s). David Martin, vice-president of exploration for Great Atlantic, states: "The magnetic anomalies are a target for mafic intrusive-hosted copper-nickel-cobalt deposits. Reported shallow vein-type mineralization at historic workings over magnetic anomalies may be indicative of deeper mafic intrusive-hosted copper-cobalt-nickel mineralized bodies."

Readers are warned that historic data referred to in this news release have not been verified by a qualified person.

The Mascarene property covers an area of approximately 2,080 hectares. The property is located approximately six kilometres southwest of the town of Saint George. Access is excellent with paved provincial roads transecting the property and within close proximity of the property.

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 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.

We seek Safe Harbor.

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