VANCOUVER, British Columbia, Feb. 23, 2022 (GLOBE NEWSWIRE) -- Great Atlantic Resources (TSXV:GR) (FSE:PH02) has started a diamond drilling program at its copper, cobalt, nickel, zinc and gold Mascarene Property, located in southwest New Brunswick. The Mascarene Property, which covers an area of approximately 2,080 hectares, is located approximately 6 kilometers southwest of the town of Saint George.
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The current drilling program is being conducted within the southern region of the Mascarene Property at the Wheal Louisiana mineral occurrence, which includes two shafts from the 1850s. Other historic pits and sulfide bearing quartz veins occur in this target area.
The drilling program, scheduled at 4 holes totalling 600 meters, will test areas of reported copper soil anomalies and historic pits adjacent to a broad northeast trending zone of magnetic high anomalies identified during a 2001 government airborne magnetic survey. This zone of magnetic high anomalies extends through the entire Mascarene Property, including the southern region where drilling is underway. Great Atlantic’s management speculates 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.
Limited sampling by Great Atlantic during 2020 confirmed anomalous copper and gold in rubble adjacent to a shaft and a near-by pit in this target area. A rubble sample of mafic rock returned 6.19% copper, 0.404 g/t gold and an anomalous value of 107 ppm cobalt. Two quartz vein rubble samples returned anomalous values for copper up to 0.86% and gold up to 0.19 g/t.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
The shares are trading at $0.235. For more information, please visit the company’s website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900. For Investor Relations contact Andrew Job at 416-628-1560 or IR@GreatAtlanticResources.com.
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