Great Atlantic Commences the Fourth Hole Expected to Be Minimum 300 m into Untested Magnetic Anomaly at Mascarene Copper, Cobalt, Nickel, Zinc, Gold Property
VANCOUVER, March 15, 2021 - Great Atlantic Resources Corp. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has completed the third drill hole and started a fourth hole during its maiden diamond drilling program at its Mascarene Property, located in southwest New Brunswick. The fourth hole is being drilled into an untested magnetic high anomaly in the east region of the property. The fourth hole will be deeper relative to the first three holes, being at least 300 meters in length. The drilling program is being conducted in the east region of the property testing within and adjacent to a broad magnetic high trend (identified during a 2001 government airborne magnetic geophysical survey) and an area of anomalous rock samples. Rock samples collected by Great Atlantic during 2020 in this area returned highly anomalous zinc values and anomalous copper and gold values.
Three holes (MA21-1 to MA21-3) have been completed during the current drilling program. A fourth drill hole has been started (MA21-4). This hole is testing a distinct magnetic high anomaly based on the 2001 government airborne geophysical survey. This hole is being drilled at a steep angle (80-degree dip) slightly southwest into the anomaly. This hole will be deep compared to the other holes completed, being at least 300 meters in length. This magnetic anomaly has never been tested by drilling.
The third hole completed (MA21-2) tested under a zinc bearing outcrop while also testing the continuation of a 5.2-meter core length zinc bearing zone intersected in drill hole MA21-1 (see Company News Release of March 9, 2021). Rock grab samples collected from the outcrop during 2020 returned highly anomalous values of 5800 ppm and 7810 ppm zinc. Of note MA21-2 was completed after drill hole MA21-3. Drill hole MA21-2 was drilled approximately 70 meters west of MA21-1. Only trace amounts of zinc mineralization were intersected in MA21-2. Local narrow veins with pyrite were intersected in this hole which will be sampled and analyzed. Drill core from the three holes completed to date is being geologically logged and sampled. Samples will be submitted to a certified laboratory for gold assay and multi-element analysis.
Gold, silver, copper, nickel, cobalt and / or zinc mineralization is reported locally within and / or adjacent to the magnetic high trend which transects the property. This includes two mineral occurrences with historic workings (Oliver Cameron Mine and Wheal Louisiana Mine occurrences) and within a small quarry referred to as the North Pit. 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. A 2020 rock sample collected from a rubble pile at the Wheal Louisiana workings returned 6.19% copper and 0.40 g/t gold (see Company News Release of March 3, 2021). Rubble samples collected during 2018 at the Oliver Cameron workings returned up to 5.02% copper and 2.0 g/t gold (see Company News Release of October 17, 2018).
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., 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 "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 - Dir
Investor Relations:
Please call 604-488-3900
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.
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 Resource Corp.
