VANCOUVER, BC / ACCESSWIRE / December 8, 2023 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the "Company" or "Great Atlantic") is pleased to announce it has completed its 2023 program of prospecting and rock geochemical sampling at its Mascarene Property, located in southwest New Brunswick. The highlight of the program was the discovery of sulfide-bearing quartz veins in one area in the north-central region of the property. Rock samples have been collected and submitted for gold and multi-element analysis of which the analytical results are pending.
The 2023 prospecting and rock geochemical sampling program was conducted in the west and north-central regions of the Mascarene Property. The work in the north-central region was conducted southeast of the reported location of the Mascarene Gold mineral occurrence (New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence Database - Reference No. 1323). Great Atlantic has not confirmed this mineral occurrence. During the 2023 work, Great Atlantic located sulfide bearing quartz veins in outcrops at three locations within an area of approximately 200 meters by 50 meters. The quartz veins vary from approximately 0.2 meters to 1.3 meters wide and contain pyrite and / or chalcopyrite. Seven outcrop grab samples were collected from these quartz veins. Two other samples was collected in this area from quartz vein subcrop and from a glacially transported float with quartz veins. These nine samples have been submitted to ALS Canada Ltd. for gold and multi-element analysis.
The work in the west region of the property was conducted south-southwest of historic workings interpreted by Great Atlantic management to be associated with the reported Simpson Prospects mineral occurrence (New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence Database - Reference No. 604). Six rock samples were collected in this region, six being grab samples from outcrop and one sample collected from glacially tranported float. These include quartz vein samples with +/- pyrite and mafic volcanic samples with +/- pyrite and pyrrhotite, one of which is cut by a shear / fault zone. These six rock samples have been submitted to ALS Canada Ltd. for gold and multi-element analysis. Great Atlantic previously confirmed high-grade zinc mineralization in rubble at the Simpson Prospects workings with two 2018 rubble samples yielding 12.6% zinc and 12.3% zinc (see Company news release of October 17th , 2018).
A broad northeast trending zone of magnetic high anomalies (identified during a 2001 government airborne magnetic survey) transects the entire Mascarene Property. Great Atlantic's management speculate this magnetic high trend to be associated with a buried mafic intrusion (s) and a possible target for mafic intrusive hosted copper-nickel-cobalt deposits. The 2023 prospecting and rock sampling in the north-central region of the property was conducted adjacent to and west of this magnetic high trend. Great Atlantic had previously confirmed gold and copper mineralization on the west side of this magnetic high trend. A Company diamond drill hole completed during 2022 intersected 6.74% copper and 0.62 grams / tonne gold over 0.40 meters core length at the Wheal Louisiana occurrence (see Company news release of August 9th, 2022). Rubble samples collected by Great Atlantic during 2018 at the Oliver Cameron workings yielded up to 5.02% copper and up to 2.0 grams / tonne gold (see Company news release of October 17th, 2018).
The 2023 prospecting and rock geochemical sampling program at the Mascarene Property was supervised by a Qualified Person.
The Mascarene Property covers an area of approximately 2,080 hectares. The property is located approximately 6 kilometers southwest of the town of Saint George. Access is excellent with paved provincial roads transecting the property and within close proximity of the property.
The Mascarene Property covers an area of approximately 2,080 hectares. The property is located approximately 6 kilometers 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, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 - Office
Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com
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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
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
SOURCE: Great Atlantic Resources Corp.