Great Atlantic Expands Land Package at Its West Gore Antimony Mine
(via Thenewswire.ca)
VANCOUVER, British Columbia - November 23, 2012 - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce it has signed an Option Agreement with a private prospector to acquire the Rawdon Hills Antimony (Sb) / Gold (Au) property. The property is located 45 kilometres north-east of Halifax comprising 570 acres adjacent to the Company's West Gore Antimony property. The property lies within a geologically active setting which hosts the Rawdon shear zone with fault-shear activity evident in previous aeromagnetics.
The Rawdon Hills property lies between past producing Au and Sb mines and near port facilities. The historic West Gore mine, recently acquired by Great Atlantic, is located two kilometres due north with past production between 70 and 80,000 tons of ore averaging 4.1% Sb and 0.1 opt (3gpt) Au being milled. Concentrates were shipped from the mine to Swansea, Wales. It is estimated that approximately 8,645 tons of antimony concentrate and about 3,000 tons of antimony including 6,995 oz of gold was produced between the period of 1883 and 1917.
Two historic gold producers are located in the immediate vicinity of the Rawdon Hills/West Gore properties. The Center Rawdon mine is located 2 kilometers to the SW of the Rawdon Hills project area and the East Rawdon mines approximately 5 kilometers to the SE. Together these mines produced 13,501 oz. Au from 14,788 tons of feed at an average grade of 0.91 oz/ton (31.92 g/t) from both concordant veins and fissure veins. The fissure veins are parallel to the antimony/gold veins which cross the Rawdon Hills/West Gore project area.
Another historical producer from the 1890's, the Central Rawdon Mine is located approximately two kilometres southwest of the Rawdon Hills property. Production from this mine was approximately 7,000 ounces at an average grade of 1.2 ounces per ton.
Readers are warned that "historical records" referred to in this release have been examined but not verified by a "Qualified Person". Further work is required to verify that the historical assays referred to in this release are accurate.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
The Deal
Under the terms of the letter of intent, GR, as operator, can acquire a 100% undivided interest by making cash option payments of $35,000 over two years and issue 150,000 shares upon TSX approval. Required expenditures for exploration and development are $65,000 over a three year period.
About Great Atlantic Resources Inc.:
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. Recently New Brunswick was announced as the number one mining region in the world. Great Atlantic has assembled the A-team of explorers in the region with decades of experience and known track records for discoveries. Currently the company is propelling forward under a project generation model with a focus on Antimony, Tungsten and Gold.
On Behalf of the board of directors
"Chris Anderson"
Christopher R Anderson,
CEO - President 604 488-3900
Read about Great Atlantic Resources Corp.: http://greatatlanticresources.com/corporate-overview/
Read Disclaimer: http://greatatlanticresources.com/legal-disclaimer/
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