2023-11-30 07:28:40
VANCOUVER, BC / ACCESSWIRE / November 30, 2023 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has completed the 2023 exploration program consisting of prospecting and rock geochemical sampling at its Glenelg Vanadium – Gold – Antimony Property, located in southwest New Brunswick. Twenty-four rock samples were collected in multiple target areas including a 21-kilogram bedrock chip sample from an antimony bearing vein that was initially discovered in 2022. Analyses have been received for seven of the 2023 rock samples of which the highlight is a bedrock grab sample which returned 0.501 grams / tonne (G/T) gold. The Glenelg Property is located immediately south of the Clarence Stream Project of Galway Metals Inc. (GWM).
Vein material with stibnite (antimony sulfide) – 2022 vein discovery at the Glenelg Property
The 2023 program was conducted locally within the southern and northern regions of the Glenelg Property. The focus of the work was exploration for gold, antimony and vanadium mineralization. Twenty-four rock samples were collected from outcrop, subcrop and glacially transported float. Twenty-three samples were submitted to ALS Canada Ltd. for gold and multi-element analysis.
Analyses have been received for seven rock samples collected during 2023, all from the south-central region of the property in the reported area of the Johnson Lake gold-silver mineral occurrence (New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence Database, Reference Number 1304). Sample 9192-23-7, a grab sample from an altered (including silicification) and pyrite bearing outcrop, returned 0.501 G/T gold and an anomalous antimony value of 135 parts per million. This is the first gold bearing outcrop identified by Great Atlantic in this target area. These samples were analyses for gold by Fire Assay – Atomic Absorption Spectroscopy (AAS) and for 34 elements by four acid digestion and Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES). Gold and multi-element analyses are pending for 16 rock samples collected during the 2023 program.
2022 quartz – carbonate – antimony (stibnite) vein discovery
A large chip sample (approximately 21 kilograms) collected during 2023 from a quartz – carbonate – stibnite (antimony sulfide) vein has not been submitted for analysis as of the date of this news release. This vein was discovered during 2022 within the southern region of the Glenelg Property. The vein occurs in a highway-cut bedrock exposure and occurs within a fault zone. Massive stibnite occurs locally within the vein at the exposure. The vein strikes northwest and is steeply dipping. The initial 2022 grab sample (1.83 kilograms) from the vein returned 23.4% antimony (see Company news release of August 16th, 2022). The vein / fault is 0.6 meters wide where the initial 2022 grab sample and the larger 2023 chip sample were collected.
The initial 2022 sample was analyzed by XRF (following lithium borate fusion) by ALS Canada Ltd. Great Atlantic plans to submit the 2023 chip sample during 2023 to a certified, independent laboratory for gold and multi-element (including antimony). This is a relatively underexplored area with no drilling reported in the area of this antimony occurrence.
Vanadium mineralization was confirmed by the Company during initial 2018 work in the southeast region of the Glenelg Property. A 2018 grab sample collected by the Company from a magnetic layer in the Bocabec Gabbro Complex returned 0.188% vanadium (0.33% V2O5), 10.3% TiO2 and 25.71% iron (see Company new release of May 6th, 2019). This sample was analyzed by ALS Canada Ltd. by lithium borate fusion and XRF finish.
Part of the northern boundary of the Glenelg Property borders the Clarence Stream Project of Galway Metals Inc. Galway reported a NI 43-101 resource estimate for the project during 2022, reporting total Indicated resources of 12,396,000 tonnes at 2.31 g/t gold (contained 922,000 ounces of gold and 9,605 tonnes of antimony) and total Inferred resources of 15,963,000 tonnes at 2.60 g/t gold (contained 1,334,000 ounces of gold and 2,145 tonnes of antimony).
Readers are warned that mineralization at the Clarence Stream Project ise not necessarily indicative of mineralization within the Glenelg Property.
The 2018, 2022, 2023 sampling discussed in this news release were supervised 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
This email address is being protected from spambots. You need JavaScript enabled to view it.
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