Great Atlantic Receives Diamond Drilling Permit and Expands Porcupine Base Metal – Precious Metal – REE Property Central New Brunswick
Great Atlantic Receives Diamond Drilling Permit and Expands Porcupine Base Metal - Precious Metal - REE Property Central New Brunswick
VANCOUVER, British Columbia - January 19, 2018 - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the Company or Great Atlantic) is pleased to announce it has received a diamond drilling permit for its Porcupine Base Metal - Precious Metal - Rare Earth Element (REE) Property, located in central New Brunswick. The drilling permit is for up to 10 holes. Drilling is planned in the spring of 2018, the focus being an area of zinc, lead, copper and silver mineralization. Additional mineral claims have been staked, expanding the Porcupine Property of the north to cover an area of reported lead mineralization associated with Ordovician volcanic rocks.
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The Porcupine Property occurs within the Miramichi terrane which trends northeast-southwest through New Brunswick. The Miramichi terrane hosts numerous volcanogenic massive sulfide deposits in northeast New Brunswick in the famous Bathurst Camp. Many of these deposits were mined, including the historic Heath Steele mine, located approximately 40km northeast of the Porcupine Property. Volcanic rocks are reported locally within the Porcupine Property.
Lead, zinc, copper and silver mineralization occurs in both boulders and bedrock in the central region of the Porcupine Property. Great Atlantic Resources Corp. discovered a mineralized zone in a trench (Line 4W Trench) in this region during 2012. A one meter channel sample across this zone returned 5.48% zinc and 1.08% lead. This zone was reported to be within sheared volcanic rocks. A qualified person has not verified this data as the sample location is no longer evident in the trench. A qualified person has verified lead, zinc and copper sulfide mineralization in stringers / veins in altered and sheared volcanic rocks within this approximately 25m long east-west trench. Great Atlantic collected grab samples of mineralized boulders during 2012 from another trench (Line 3W Trench), located 50 metres east of the Line 4W Trench. One grab sample returned 20.7% lead, 6.89% zinc, 2.04% copper and 122 grams / tonne (g/t) silver. A qualified person has not verified these boulders / data as the trench has been reclaimed. The 2012 trench samples and lab inserted blank, duplicate and standard samples were analyzed by Activation Laboratories Ltd. (Ancaster, Ontario) by Instrumental Neutron Activation Analysis (INAA) and Four Acid Inductively Coupled Plasma - Optical Emission Spectrometry (ICP-OES). (Activation Laboratories is independent of Great Atlantic Resources Corp. and option Partner Fort St. James Nickel Corp.).
Planned diamond drilling in 2018 will focus on the central region of the property in the area of the Line 3W and Line 4W Trenches including the area in the reported up-ice direction.
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2012 Line 4W Trench (channel sample of 5.48% Zn & 1.08% Pb / 1m)
Lead and zinc sulfide mineralization in Line 4W Trench
Soil geochemical anomalies are reported locally in the southern region of the property including cobalt, lead, tungsten and REE anomalies. A qualified person has verified the soil geochemical data. A qualified person managed the 2015 soil geochemical survey and verified associated data including sample locations and analytical data. The 2015 soil samples (and lab inserted blank, standard and duplicate samples) were analyzed by ALS Minerals in Sudbury, Ontario by Fire Assay - Atomic Absorption (AA) for gold and for 33 elements by four acid - Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES). The sources of these anomalies have not been located. The Company is planning additional work in this region during 2018 to establish drill targets. ALS Minerals is independent of Great Atlantic Resources Corp. and Fort St. James Nickel Corp.
The Porcupine Property has been recently expanded further north through staking of additional claims. The new claims cover an area of reported lead sulfide mineralization (galena), reported to occur at the contact of Ordovician felsic volcanic rocks and interbedded sedimentary rocks (source: New Brunswick Department of Energy and Resource Development Mineral Occurrence Database). A qualified person has not verified this reported mineralization due to winter conditions. The property currently covers an area of approximately 2,830 hectares.
The Porcupine Property is located in central New Brunswick approximately 50 kilometres west of the city of Miramichi. Access is excellent with logging roads transecting the property.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release. Mr. Martin is the VP Exploration for Great Atlantic Resources Corp.
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. 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 number one 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.
On Behalf of the board of directors
Christopher R Anderson
Mr. Christopher R Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 - Dir
This press release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
Firma: Great Atlantic Resources Corp.
Ansprechpartner: Stadt: Wien
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