VANCOUVER, British Columbia, April 05, 2022 (GLOBE NEWSWIRE) -- Great Atlantic Resources (TSXV:GR) (FSE:PH02) has started a prospecting and rock geochemical sampling program at its Mascarene Property, located in southwest New Brunswick. The copper, cobalt, nickel, zinc and gold 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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Rock sampling is currently being conducted in the area of the Wheal Louisiana copper-nickel-cobalt occurrence, in an area where previous Great Atlantic rock sampling also confirmed gold mineralization. Two shafts were sunk at the Wheal Louisiana occurrence in the 1850s with other historic pits existing in this area.
Limited sampling by Great Atlantic during 2020 confirmed copper and gold mineralization 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 grams per tonne gold and an anomalous value of 107 ppm cobalt. Two quartz vein rubble samples returned anomalous values of up to 0.86% copper and up to 0.19 grams per tonne gold.
A small inactive quarry also exists in the area of the Wheal Louisiana occurrence with sulfide, including chalcopyrite, bearing quartz veins in bedrock and quartz vein rubble. Great Atlantic is conducting additional rock sampling in this area.
Prospecting and rock geochemical sampling are also planned during 2022 at other target areas within the Mascarene Property including areas where the company has confirmed gold, copper and zinc mineralization in rubble adjacent to historic workings.
Great Atlantic recently completed a five-hole diamond drilling program in the area of the Wheal Louisiana occurrence with chalcopyrite bearing veins being intersected. Quartz and/or carbonate veins with chalcopyrite (+/- pyrite and pyrrhotite) were intersected in four drill holes. The drill core from that program is currently being logged and sampled.
A broad northeast trending zone of magnetic high anomalies, identified during a 2001 government airborne magnetic survey, transects the entire Mascarene Property. 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. The current prospecting and rock sampling is and will be conducted within and adjacent to this magnetic high trend.
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 $0.22. 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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