VANCOUVER, BC / ACCESSWIRE / September 23, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the “Company” or “Great Atlantic”) is pleased to announce it has recently located tungsten mineralization in a new target area at its 100% owned South Quarry Tungsten Property, located in east-central Newfoundland. The tungsten mineralization occurs in quartz-dominant veins in bedrock at a historic trench / stripped area. This site is within the northern region of the property and northeast of the quarry referred to as the South Quarry. The Company has also expanded the property from 1,350 to 1,925 hectares.
Tungsten bearing pegmatite veins occur in the northern region of the property including the South Quarry and an adjacent smaller quarry. Great Atlantic confirmed high-grade tungsten mineralization (scheelite) in veins in rubble and bedrock at the two quarries during 2015 (News Release of November 19, 2015), including:
Eleven rubble grab samples exceeded 5% WO3 (W% x 1.26 equals WO3%).
A 20-centimeter long channel sample along a 15-centimeter wide vein 2.96% WO3.
A grab sample from a 25-centimeter wide vein in the South Quarry returned 11.94% WO3.
Historic trench / stripped area with tungsten-bearing quartz-dominant veins
The 2019 program focused on the central – northern regions of the South Quarry Property, exploring for new zones of tungsten mineralization. The program consists of focused prospecting and rock geochemical sampling and ground magnetic and electromagnetic geophysical surveys. Tungsten mineralization (scheelite) was located during the program within a new target area in the northern region of the property. Scheelite-bearing quartz-dominant veins were located within bedrock at a historic trench / stripped area in this new target area. Bedrock grab samples were collected from this site which will be submitted to a certified laboratory for tungsten analysis. The program was supervised by a Qualified Person.
A qualified person verified the 2015 sample data. The qualified person supervised the 2015 sampling. The 2015 samples (and lab-inserted blank, duplicate and standard samples) were analyzed at ALS Canada Ltd. (ALS Canada Ltd. is independent of Great Atlantic Resources). Tungsten analysis was by lithium borate fusion followed by ICP-MS analysis with some samples re-analyzed by XRF.
Tungsten bearing pegmatite veins at South Quarry
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.
Christopher R. Anderson, President, CEO. and Director, stated “Mr. Martin and Myself were an integral part of the initial Management team that advanced the Sisson Tungsten-Molybdenum Project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry Tungsten Property, although early stage, has the ear marks of being a significant asset for the company.”
The South Quarry Property was recently expanded to the current area of 1,925 hectares. Access to the property is excellent with a paved road transecting the property.
The Company has granted 225,000 stock options at an exercise price of 41 cents to its directors, officers, employees and consultants. The options are exercisable for five years, and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the company. The stock options are not transferable and will be subject to a four-month hold period from the date of grant and any applicable regulatory acceptance.
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
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.
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