Great Atlantic Makes Final Option Payment on its 100% Owned South Quarry Tungsten Property in Newfoundland - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2018) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has made the final option payment on its South Quarry Tungsten Property, where multiple grab samples in 2015 exceeded 5% tungsten oxide (WO3). The property, located in east-central Newfoundland, with a paved road transecting the property, covers an area of 3,600 hectares.
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Significant tungsten mineralization is reported in multiple areas within the South Quarry Property, including high grade veins. Tungsten bearing pegmatite veins occur in the northern region of the property including at a quarry referred to as the South Quarry and an adjacent smaller quarry.
Great Atlantic confirmed high-grade tungsten mineralization in veins in rubble and bedrock at these quarries during 2015. Eleven rubble grab samples exceeded 5% tungsten oxide WO3.
A 20 centimetre long channel sample along a 15 centimetre wide vein in the small quarry returned 2.96% tungsten oxide, while a grab sample from a 0.25 meter wide vein in the South Quarry returned 11.94% tungsten oxide, which was verified by a qualified person. Tungsten analysis was by lithium metaborate fusion followed by acid dissolution and ICP-MS analysis with some samples re-analyzed by XRF.
Work planned for 2018 will focus in the area of the South Quarry and adjacent small quarry, with the company applying for diamond drilling and stripping permits for this area. Additional sampling of veins is planned to provide data on tungsten grade and distribution of tungsten bearing veins. Pending results of this work, the company is considering metallurgical studies including ore sorting technologies.
The company is also planning diamond drilling further north of these quarries where 2016 trenching exposed tungsten bearing veins, and has received a permit to drill five holes in this area. Although tungsten mineralization was reported in the southern region of the property in Newfoundland and Labrador Department of Natural Resources Mineral Assessment Reports, this has not been verified by a qualified person.
Christopher R. Anderson, President and CEO, stated: "Mr. Martin and Myself were an integral part of the initial Management team that advanced the Sisson Tungsten-Molybdenum Project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. We understand the tungsten market and feel that the South Quarry Tungsten Property, although early stage, has the ear marks of being a significant asset for the company. Currently Great Atlantic has two Joint Venture partners and we would be happy to welcome a third to assist in advancing the South Quarry Tungsten Project."
This is just one of several projects keeping Great Atlantic active.
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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