Great Atlantic Commences Trenching and Diamond Drill Program at Pilley's Island Base - Precious Metal Property in Newfoundland - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2017) - Great Atlantic Resources (TSXV: GR) (FSE: PH01), together with its option partner Unity Resources, is conducting a trenching program and preparing for diamond drilling at its Pilley's Island Property. Pilley's Island Base Metal - Precious Metal Property, located in north-central Newfoundland, consists of 7 adjoining licenses covering a total area of 875 hectares, with excellent paved roads transecting the property.
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The property is a volcanogenic massive sulphide deposit analogous to Kuroko/Buchans style mineralization. The property hosts an historic mine with reported historic estimated reserves of 1,159,000 tonnes grading 1.23% copper.
One target of the current trenching program is the Bull Road showing, where historic trench samples included 12.4% zinc, 3.8% copper, 0.9% lead, and 22 grams per tonne silver over 4.6 metres. An historic drill hole at this showing reportedly intersected 22.7% zinc and 4.4% lead over 0.65 metres of core, within an intersection of 7.75 metres grading 3.41% zinc, 0.51% lead, 0.66% copper, 11.7 grams per tonne silver, and 0.10 grams per tonne gold.
Another zone, the Fragmental Zone, had only been encountered in 4 drill holes, but never exposed at surface. The best intersection in the Fragmental Zone graded 1.40% copper, 0.76% lead, 7.32% zinc and 22 grams per tonne silver over 5.5 metres.
Another massive sulphide intersection from Hole 42, a reported vertical diamond drill hole, was reported to return 12.45% zinc, 5.5% lead, 0.94% copper and 0.102 ounces gold per ton over a 2.5 metre core length.
| Historic Trench Samples and Drill Intercepts | |||||||
| Zinc% | Lead% | Copper% | Silver(gpt) | Gold(gpt) | Gold(opt) | ||
| Trench Sample | 12.4 | 0.9 | 3.8 | 22 | 4.6 metres | ||
| Historic Drill Hole | 3.41 | 0.51 | 0.66 | 11.7 | 0.10 | 7.75 metres | |
| including | 22.7 | 4.4 | - | - | - | 0.65 metres | |
| Fragmental Zone | 7.32 | 0.76 | 1.40 | 22 | 5.5 metres | ||
| Hole 42 | 12.45 | 5.5 | 0.94 | 0.102 | 2.5 metres | ||
An attempt to expose the surface expression of the Fragmental Zone will be conducted during the program, with trenching in an effort to obtain better control on strike, dip, and style. A 4 hole, 800 metre drill program is planned as immediate follow up to the trenching.
Drilling will target the Bull Road showing and area, the Hole 42 area, and possibly the Fragmental Zone depending on the trenching results, as well as a newly discovered mineralized alteration zone. Further trenching may result in additional drill targets.
The shares are trading at $0.14 and with 33.7 million shares outstanding, the company is capitalized at $4.7 million.
For more information, please visit the company's website www.greatatlanticresources.com. Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email info@kayewynn.com.
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