Vancouver, British Columbia (FSCwire) - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has expanded the Pilley’s Island Base Metal – Precious Metal Property by means of claim staking. The property was expanded by more than four times the previous size from 875 hectares to the current 4,600 hectares. The Pilley’s Island Property now covers over 95% of Pilley’s island, located in north-central Newfoundland. Recent samples collected by the Company at a 2017 trench returned significant results for copper, lead, zinc, silver and gold including trench a bedrock channel sample returning 15.40% Zn, 6.60% Pb, 4.66% Cu, 111.5 g/t Ag and 1.0 g/t Au over 1.05 meter length and grab samples returning up to 40.8% Zn, 20.0% Pb, 8.38% Cu, 148.1 g/t Ag and 2.2 g/t Au (News Releases of November 16 and December 14, 2017).

 

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The focus of Great Atlantic’s work to date on the property has been the Bull Road showing, located in the southern region of Pilley’s Island. A trench was excavated in 2017 at this showing exposing sulfide mineralization over a northwest-southeast length of 130m with a width varying between 1-7m. The Bull Road Showing is a polylithic slump breccia of volcanogenic massive sulphide mineralization containing massive sulphide clasts up to greater than a metre in length. Sample results from this trench are reported in Company News Releases of November 16 and December 14, 2017. Bull Road Trench sample highlights include:

 

• 1.05 meter channel sample: 15.40% Zn, 6.60% Pb, 4.66% Cu, 111.5 g/t Ag and 1.008 g/t Au.

 

• 0.70 meter channel sample: 17.30% Zn, 0.10% Pb, 2.97% Cu, 31.2 g/t Ag and 0.449 g/t Au.

 

• 0.95 meter channel sample: 3.95% Zn, 0.73% Pb, 2.83% Cu, 62.2 g/t Ag and 0.613 g/t Au.

 

• 1.00 meter channel sample: 2.96% Zn, 0.03% Pb, 3.27% Cu, 30.4 g/t Ag and 0.563 g/t Au

 

• Outcrop grab sample: 40.8% Zn, 4.69% Pb, 6.08% Cu, 22.5 g/t Ag and 1.366 g/t Au.

 

• Outcrop grab sample: 32.60% Zn, 1.30% Pb, 8.38% Cu, 148.1 g/t Ag and 1.421 g/t Au

 

• Outcrop grab sample: 36.40% Zn, 5.50% Pb, 4.22% Cu, 59.9 g/t Ag and 0.325 g/t Au

 

• Outcrop grab sample: 27.5% Zn, 20.0% Pb, 5.78% Cu, 63.4 g/t Ag and 0.314 g/t Au

 

The samples were analyzed at Eastern Analytical in Springdale Newfoundland (gold by Fire Assay – atomic absorption (AA); and copper, lead, zinc and silver by multi-acid digestion and AA). The channels samples were collected across selected clasts at generally right angles to the long dimension of the clasts.  The 2017 Bull Road trench sample data was verified by qualified persons who managed the sampling program and verified sample data.

 

The primary purpose of the Company’s recent claim staking at Pilley’s Island 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. Additional channel sampling is planned for 2018 at the Bull Road Trench.

 

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Bull Road Trench

 

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Massive sulfide mineralization at Bull Road Trench.

 

 

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Massive sulfide mineralization at Bull Road Trench

 

The Pilley’s Island Property hosts the historic Pilley’s Island Mine, which operated during the 1890s and early 1900s. The Newfoundland and Labrador Department of Natural Resources reports historic estimated proven reserves of 1.159 million tonnes grading 1.23% Cu (referencing Grimley, 1968 as the source) or 627,373 tons at 2.34% Cu (referencing Walker, 1976 as the source ) in their Mineral Occurrence Database. David Martin, VP Exploration for Great Atlantic, states “These historical estimates of reserves are not reliable. The historical estimates are only relevant to the extent of identifying an area on the property for research and possible future exploration. The key assumptions, parameters, and methods used to prepare the historical estimates are not known.  A qualified person has not done sufficient work to classify the historical estimates as current resources or current reserves. A qualified person would need to complete sufficient work following CIM Best Practice Guidelines to upgrade or verify the historical estimates as current mineral resources or mineral reserves. This would almost certainly require additional exploration in the way of diamond drilling, trenching and / or underground work and corresponding sampling all of which must follow CIM Exploration Best Practice Guidelines.” Great Atlantic is not treating the historical estimates for the historic Pilley’s Island Mine as current mineral resources or mineral reserves.

 

Access to and infrastructure at the Pilley’s Island Property is excellent. The property is serviced with power mains and government maintained roads and is within 2 km of tide water. The property is located within a mining friendly district.

 

Readers are warned that historical data on the historic Pilley’s Island Mine referred to in this News Release have not been verified by a qualified person. A qualified person has not verified this data as the Company’s focus since acquiring the property in 2017 has been the Bull Road showing.

 

David Martin, P.Geo., a Qualified Persons as defined by NI 43-101, is responsible for the technical information contained in this News Release. Mr. Martin is the VP Exploration for Great Atlantic Resources Corp.

 

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

 

On Behalf of the board of directors

 

“Christopher R Anderson”

 

Mr. Christopher R Anderson "Always be positive, strive for solutions, and never give up "

President CEO Director

604-488-3900 – Dir

 

Investor Relations:

Kaye Wynn Consulting Inc.: 604-558-2630, Toll Free –888-280-8128

E-mail: info@kayewynn.com

 

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Great Atlantic Resource Corp

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/greatatlantic01222018.pdf

Source: Great Atlantic Resources Corp. (TSX Venture:GR, FWB:PH01)

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