Great Atlantic Resources Corp. Announces its Kagoot Brook COBALT Property Available for Option
VANCOUVER, Nov. 29, 2022 - Great Atlantic Resources Corp. (TSXV.GR) (the "Company" or "Great Atlantic") is pleased to announce it Kagoot Brook Cobalt Property has become available for Option. The Kagoot Brook Property, a 4,233-hectare mineral claim area located in the Bathurst mining camp, New Brunswick, Canada. Great Atlantic retains a 100% interest in the cobalt/ nickel project. Great Atlantic completed prospecting and rock geochemical sampling during October at the Kagoot Brook Property. Analytical results are pending for the rock samples. Highly anomalous cobalt in stream and spring sediment / silt samples are reported within the central region of the property (up to 6,000 ppm cobalt reported). The Kagoot Brook Property covers reported historical cobalt stream and spring sediment / silt geochemical anomalies, with some samples reported from two streams (tributaries of Kagoot Brook) reported to be highly anomalous, including:
- Cobalt stream and spring sediment anomalies were reported by the New Brunswick Department of Natural Resources in the early 1980s with five samples reported to return highly anomalous values of 801, 1259, 1261, 1297 and 1316 parts per million (ppm) cobalt (Davies, 1982).
- Cobalt stream silt anomalies were reported by Brunswick Mining and Smelting Corp. in the mid-1980s in the same area including multiple samples reported to exceed 1,000 ppm cobalt including samples reported to return 3,800 and 6,000 ppm cobalt (Brown, 1985).
- Stream silt sampling during 2018 by Explorex Resources Inc. also confirmed highly anomalous cobalt values with nine samples reported to exceed 1,000 ppm cobalt (up to 3,190 ppm cobalt (Kemp, 2019).
The source of the cobalt geochemical anomalies has not been identified.
Chargeability anomalies and resistivity low geophysical anomalies were reported within the Kagoot Brook Property during 2012 and 2013 Induced Polarization (IP) and resistivity geophysical surveys (Vickers, 2012 and Vickers, 2013).
Great Atlantic conducted prospecting and rock geochemical sampling during October 2022 within the central region of the Kagoot Brook Property in the general area of the reported cobalt stream and spring sediment / silt geochemical anomalies. A total of 14 rock samples were collected. Great Atlantic will submit the samples to an independent, certified laboratory for multi-element analysis (including cobalt) and gold assay.
Recharge Resources the original optionee has returned the Kagoot Cobalt Property to Great Atlantic, we wish them the best of luck with their future endeavors.
Readers are warned that historical cobalt analytical results stated in this news release have not been verified by a Qualified Person.
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.
SOURCE: Great Atlantic Resources Corp.
