InvestmentPitch Media Video Discusses Great Atlantic's Preliminary Work at the Mascarene Cobalt-Copper-Nickel-Gold Property in New Brunswick - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - June 29, 2018) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has conducted preliminary work at the Mascarene Cobalt-Copper-Nickel-Gold Property, locating historic workings and collecting rock and soil samples for multi-element analysis. The Mascarene Property, located approximately 6 kilometres southwest of the town of Saint George in New Brunswick, has excellent access with paved provincial roads transecting or in close proximity to the property. Through staking, Great Atlantic has expanded the property to approximately 2,080 hectares.
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Historic rock rubble samples from historic workings include reported values of up to 17.5% copper, 0.52% cobalt, 0.38% nickel and 21.8 grams per tonne gold.
Great Atlantic can acquire 100-per-cent interest in the property by means of cash payments totalling $200,000 over 5 years, with the optionor retaining a 2% NSR royalty of which 1% can be purchased.
A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic anomalies within the property, some over 5 kilometers long. Great Atlantic is targeting these anomalies as potential sources of mafic intrusive hosted copper-cobalt-nickel mineralization.
David Martin, VP Exploration for Great Atlantic stated: "The magnetic anomalies are a target for mafic intrusive hosted copper-nickel-cobalt deposits. Reported shallow vein-type mineralization at historic workings over magnetic anomalies may be indicative of deeper mafic intrusive hosted copper-cobalt-nickel mineralized bodies."
The Mascarene Property is reported to contain multiple copper along with nickel, cobalt, gold occurrences with historic pits and shafts dating back to the 1800s. Sulfide bearing veins and mafic intrusive (gabbro) have been reported at some of these sites.
Great Atlantic recently located historic shallow pits and shafts in the eastern and western regions of the Mascarene Property. These included workings in the reported locations of the historic Oliver and Oliver-Cameron Mines in the eastern region of the property and the reported location of the historic Simpson Mine in the western region of the property.
The company collected rock samples of sulfide bearing rubble adjacent to these workings and sulfide bearing float, with sulfide mineralization noted in both vein and host rock material. A small number of soil samples were also collected in the area of the workings in the west region of the property, which along with the rock samples have been submitted for multi-element analysis.
Historic 2004, 2011 and 2012 grab samples from the property are reported to contain significant levels of copper, cobalt, nickel and/or gold. These include samples from the mine dump adjacent to the historic Oliver Cameron shaft, of which at least 13 samples are reported to exceed 1% copper, with up to 7.73% copper reported, while also returning up to 0.52% cobalt, 0.38% nickel and 4.67 grams per tonne gold.
Two historic rubble samples reported at the near-by historic Oliver shaft were reported to return 15.6% copper and 0.99 grams per tonne gold; and 17.5% copper and 21.8 grams per tonne gold.
Of note, the Mascarene property is located approximately 30 kilometres southeast of the St. Stephen nickel/copper/cobalt Property, however it has not been determined if they share the same mineralization.
Great Atlantic is also active on several other precious-base metal projects in New Brunswick and Newfoundland.
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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