Great Atlantic Expands Its Pilley's Island Base Metal/Precious Metal Property in Newfoundland to 4,600 Hectares and Receives Drill Permit for New Brunswick Property - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 23, 2018) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has expanded its Pilley's Island Base Metal — Precious Metal Property. Through staking, the property, located in north-central Newfoundland, was expanded by more than four times its previous size, from 875 hectares to the current 4,600 hectares, and now covers more that 95% of Pilley's Island
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Results for channel samples collected in the southeastern region of the trench, within an approximate 22 metre section, included 15.4% zinc, 6.6% lead, 4.66% copper, 111.5 grams per tonne silver and 1.008 grams per tonne gold over 1.05 metres from sample #2.
The limited grab sampling extended into the northwest region of the trench, where samples of trench bedrock returned up to 40.8% zinc, 5.5% lead, 8.38% copper, 148.1 grams per tonne silver and 2.2 grams per tonne gold, within an approximate 100 metre long section.
Initial rock grab samples released on November 16th, included one sample returning 27.5% zinc, 20.0% lead, 5.78% copper and 63.4 grams per tonne silver.
| Channel and Grab Samples from Bull Road Trench | |||||||||
| Sample # | Channel/ Grab | Length (metres) | Orientation (degrees) | Trench Location | Gold (gpt) | Copper % | Lead % | Zinc % | Silver (gpt) |
| 1256001 | Channel | 0.95 | 045 | 23m SE | 0.613 | 2.83 | 0.73 | 3.95 | 62.2 |
| 1256002 | Channel | 1.05 | 035 | 25.5m SE | 1.008 | 4.66 | 6.60 | 15.40 | 111.5 |
| 1256003 | Channel | 0.70 | 010 | 15m SE | 0.449 | 2.97 | 0.10 | 17.30 | 31.2 |
| 1256004 | Channel | 1.00 | 045 | 13.2m SE | 0.274 | 2.37 | 0.10 | 0.61 | 19.3 |
| 1256011 | O/C Grab | 70m NW | 1.366 | 6.08 | 4.69 | 40.80 | 22.5 | ||
| 1256012 | O/C Grab | 6m NW | 1.421 | 8.38 | 1.30 | 32.60 | 148.1 | ||
| 1256014 | O/C Grab | 2.5m SE | 0.325 | 4.22 | 5.50 | 36.40 | 59.9 | ||
| 254514 | O/C Grab | 5.78 | 20.00 | 27.50 | 63.4 | ||||
The primary purpose of the recent claim staking was to allow for planned regional exploration over a broad area north of the Bull Road Showing and the historic Pilley's Island Mine. Great Atlantic is planning a diamond drilling program for 2018 at the Bull Road showing and additional channel sampling at the bull Road Trench.
The property hosts an historic copper mine with several zinc, lead, copper, gold and silver occurrences, and reported historic estimated reserves of 1,159,000 tonnes grading 1.23% copper, or 627,373 tons at 2.34% copper and 0.01 ounces per ton gold.
Over in Central New Brunswick, the company received a diamond drilling permit for up to 10 holes for its Porcupine Base Metal — Precious Metal — Rare Earth Element Property. The Porcupine Property occurs within the Miramichi terrane in the famous Bathurst Camp, which hosts numerous VMS deposits.
Many of these deposits were mined, including the historic Heath Steele mine, located approximately 40 kilometres northeast of the Porcupine Property. The drilling, planned for the spring of 2018, will focus on an area where lead, zinc, copper and silver mineralization occurs in both boulders and bedrock in the central region of the Porcupine Property.
Great Atlantic discovered a mineralized zone in the Line 4W Trench in this region during 2012, where a one meter channel sample zone returned 5.48% zinc and 1.08% lead. At the Line 3W Trench, located 50 metres east, one grab sample returned 20.7% lead, 6.89% zinc, 2.04% copper and 122 grams per tonne silver.
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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