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Great Atlantic's Option Partner Plans Further Drilling at the Kagoot Brook Cobalt - Manganese - Base Metals Project in New Brunswick

29.01.2019  |  Accesswire

VANCOUVER, January 29, 2019 - Great Atlantic Resources Corp. (TSX.V: GR) (the "Company" or "Great Atlantic") is pleased to announce its Optionee Explorex Resources Inc. plans to conduct a comprehensive exploration program, at the Kagoot Brook Co-Mn-Base Metals project in New Brunswick, consisting of a detailed geophysical survey followed by a 2,000m drill program.

Historical work at Kagoot Brook has delineated two drainages, two kilometres apart, that exhibit a series of remarkably anomalous cobalt values up to 6,000 ppm* in the silts (see Explorex news releases dated May 31 and February 14, 2018).

Recent follow-up stream silt sampling programs performed by Explorex revealed:

(i) a significant concentration of and a strong relationship of cobalt with manganese and associated base metals (nickel, copper, lead and zinc);
(ii) the relative percentage of the cobalt to manganese indicates a favourable high cobalt tenor (i.e. grade component); and
(iii) a distinct upstream cut-off of the cobalt mineralization (see Explorex news release dated November 5, 2018).

The project area is blanketed by a thin till cover with little or no outcrop and the in-stream silt grade cut-offs are interpreted to closely reflect the southern contact of the underlying mineralized horizon. The grade cut-offs align well with stratigraphy adding confidence to the >2 km inferred potential length of mineralization along the geological trend.

Explorex took advantage of a window of opportunity and completed two holes for a total 500 metres prior to the Christmas break. This initial two-hole drill program was limited in scope and designed to drill along one transect across the target stratigraphy within the 4 x 1 kilometre target area. The processing of the core is complete and results should be available mid to late February.

The planned exploration program will consist of comprehensive geophysical coverage of the target area followed by a 2,000m drill program.

*Note: The stream silt samples reported in this release are solely designed to show the presence or absence of mineralization and to characterize the mineralization. Silt samples are by definition selective and not intended to provide nor should be construed as a representative indication of grade or mineralization at the projects.

Technical Information in this news release has been reviewed by David Martin, P Geo., a Qualified Person as that term is defined in NI 43-101.

Option agreement

The Kagoot Brook property is 100 per cent owned by Great Atlantic Resources and is subject to an underlying agreement with Explorex Resources Inc. Explorex Resources is acquiring up to a 75-per-cent interest in the project (please see Great Atlantic Resources’ news release dated Feb. 14, 2018).

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, Cobalt, Antimony, Zinc, 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:
Please call 604-488-3900

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

SOURCE: Great Atlantic Resources Corp.


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