VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) -- Great Atlantic Resources (TSXV:GR) (FSE:PH02) has completed 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. The program was conducted within the southern region of the Mascarene Property at the Wheal Louisiana mineral occurrence.
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The 2022 winter drilling program, which consisted of five close-spaced drill holes (MA-22-5 to MA-22-9) totalling 787 meters, tested 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 was completed. 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.
Quartz and/or carbonate veins with chalcopyrite (+/- pyrite and pyrrhotite) were intersected in four drill holes. The more prominent of these include a near-surface veined zone intersected at 2.6 to 6.5 metres in MA-22-9 and a veined zone intersected at 144.4 to 145.7 meters in MA-22-5 with local semi-massive chalcopyrite. Mineralized veins with chalcopyrite were also intersected in drill holes MA-22-6 and MA-22-7. Veins with pyrite and/or pyrrhotite were intersected locally in drill hole MA-22-8. These intervals will be sampled with samples to be submitted to a certified and independent laboratory for gold assay and multi-element analysis (including copper, nickel and cobalt).
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 plans additional rock geochemical sampling in this area during 2022.
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 $0.23. 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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