Great Atlantic Submits Rock Samples from South Quarry Tungsten Property in Newfoundland for Gold, Tungsten and Multi-Element Analysis- Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2017) -Great Atlantic Resources (TSXV: GR) (FSE: PH01) has completed a focused prospecting and rock sampling program at its South Quarry Tungsten Property. 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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The prospecting and rock sampling program was conducted in areas of tungsten soil geochemical anomalies, which were identified during the 2015 exploration program, in the northern and southern regions of the property. A gold soil anomaly was also identified in the northeast region during the 2015 survey.
Rock samples collected in multiple regions of the property have been submitted for gold, tungsten and multi-element analysis.
Significant tungsten mineralization is reported in at least three areas within the South Quarry Property. In the northern half of the property, tungsten mineralization, including tungsten bearing pegmatite veins, occurs in two close-spaced quarries.
Multiple grab samples collected by Great Atlantic in 2015 from bedrock and rubble in these quarries exceeded 1% tungsten oxide (WO3) with 12 grab samples exceeding 5% tungsten oxide (WO3).
Historical reports document exploration by Kidd Creek Mines during the 1980s in the area of these two quarries. Kidd Creek reported tungsten bearing (scheelite) veins in a stripped area at the approximate location of the smaller quarry. Kidd Creek reported that multiple vein channel samples from this trench exceeded 1% tungsten oxide (WO3), with 27 channel samples of veins from one part of the trench reportedly average 1.79% tungsten oxide. One Kidd Creek drill hole in the southern region reportedly intersected multiple tungsten mineralized horizons.
A 2016 trenching program by Great Atlantic exposed tungsten bearing veins in bedrock north to northeast of the two quarries, with a grab sample from a 0.13-metre wide vein returning 0.725 tungsten oxide. This area was also included in the current program.
Christopher R. Anderson, President and CEO, stated: "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 Great Atlantic's property portfolio. We are looking forward to advancing this project further, and are actively seeking partners and additional expertise to help us do so."
This is just one of several projects keeping Great Atlantic active. The company recently received diamond drill permits for its Keymet Precious-Base Metal property in New Brunswick, and its Golden Promise gold property in Newfoundland.
The shares are trading at $0.18 and with 33 million shares outstanding, the company is capitalized at $5.9 million.
For more information, please visit the company's website www.greatatlanticresources.com.
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 604-558-2630 or 888-280-8128, or email at info@kayewynn.com.
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