Great Atlantic Begins Trenching and Diamond Drilling Program Pilley’s Island Base Metal – Precious Metal Property, North-Central Newfoundland
Vancouver, British Columbia (FSCwire) - Great Atlantic Resources Corp. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it is conducting a trenching program and preparing for diamond drilling at its Pilley’s Island Base Metal – Precious Metal Property, located in north-central Newfoundland.
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A four hole, 800m diamond drill program is planned as immediate follow up to the trenching. Drilling will target the Bull Road Showing and area, the Hole 42 area, and possibly the Fragmental Zone depending on trenching results, as well as a newly discovered mineralized alteration zone. Further trenching on the property may add drill targets.
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The exploration is being jointly operated with option partner Unity Resources. The property hosts an historic copper mine along with several zinc, lead, copper (+ / - gold, silver) occurrences. One target of the current trenching program is the Bull Road showing. Historic trench samples at Bull Road include 12.4% zinc and 3.8% copper over 4.6m. An historic drill hole at this showing was reported to intersect 22.7% zinc and 4.4% lead over 0.65m core length within an intersection of 7.75m grading 0.66% Cu, 0.51% Pb, 3.41% Zn, 11.7 g/t Ag and 0.10 g/t Au. Another zone, the Fragmental Zone, which has only been encountered in 4 drill holes but never exposed at surface, will be trenched in an effort to obtain better control on strike and dip and style. The best intersection in the Fragmental Zone graded 1.40% Cu, 0.76% Pb, 7.32% Zn and 22 g/t Ag over 5.5m.
The Pilley’s Island Property hosts an historic mine with reported historic estimated reserves of 1.159 million tonnes grading 1.23% Cu or 627,373 tons at 2.34% Cu and 0.01 oz./ton Au. This volcanogenic massive sulphide deposit is analogous to Kuroko/Buchans style mineralization. The Property also hosts other base metal – precious metals occurrences. These include the Bull Road Showing with reported historic trench assays of 12.4% Zn, 3.8% Cu, 0.9% Pb, 22 g/t Ag over 4.6m and a reported drill hole intersection of 22.7% Zn, 4.4% Pb, 0.107% Cu and 32 g/T Ag over a 0.65m core length. Another showing is the Fragmental Zone with a reported drill intersection of 7.3% Zn, 1.4% cu, 0.7% Pb, 20 g/t Ag over 5.5m core length. An attempt to expose the surface expression of the zone will be conducted during the program. Another massive sulphide intersection from a reported vertical diamond drill hole (Hole 42) was reported to return 12.45% Zn, 5.5% Pb, 0.94% Cu and 0.102 oz./ton Au over 2.5m core length. The current program includes trenching to re-open and re-evaluate the historic Bull Road Showing. This historic showing consists of a volcanic slump breccia hosting clasts from 1 centimetre to up to a metre diameter of massive sulphide in a polylithic matrix that includes sphalerite, galena, chalcopyrite and pyrite. Current trenching on the Bull Road Showing has exposed bedrock with massive sulphide blocks of over 1 metre maximum dimension composed mainly of fine grained sphalerite and lesser galena with chalcopyrite and bornite bands as well as other blocks of massive pyrite with chalcopyrite/bornite, sphalerite and galena with a quartz gangue matrix. Trenching will continue along the length of the zone as well as on other targets in the area.
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The Pilley’s Island Property consists of 7 adjoining licences covering a total are of 875 hectares. Access to the property is excellent with paved roads transecting the property.
Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.
Paul Delaney, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
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
“Chris Anderson ”
Christopher R Anderson
President
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
www.GreatAtlanticResources.com
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/greatatlant10192017.pdf
Source: Great Atlantic Resources Corp. (TSX Venture:GR)
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