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    GR   CA3900873025


Delayed Bourse de Toronto  -  02:51 2022-06-29 pm EDT
0.0950 CAD   -5.00%
06/28Great Atlantic Resources Corp. Reports Earnings Results for the Full Year Ended February 28, 2022
06/28Great Atlantic Increases Financing to $816,500 and Submits for Closing
06/27Great Atlantic Resources Boosts Private Placement of Share Units to C$816,500
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Great Atlantic Resources : Begins 2022 Prospecting - Rock Geochemical Sampling at its Gold, Copper, Nickel, Cobalt, Zinc Mascarene Property, Southern New Brunswick

04/04/2022 | 09:27am EDT

VANCOUVER, BC / ACCESSWIRE / April 4, 2022 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has begun a prospecting and rock geochemical sampling program at its Mascarene Property, located in southern New Brunswick. Rock sampling is currently being conducted in the area of the Wheal Louisiana copper - nickel - cobalt occurrence. Previous Great Atlantic rock sampling in this area also confirmed gold mineralization.

Two shafts were sunk at the Wheal Louisiana occurrence in the 1850s. Other historic pits exist in this area. Limited sampling by Great Atlantic during 2020 confirmed copper and gold mineralization in rubble adjacent to a shaft and a near-by pit in this target area. A rubble sample of mafic rock returned 6.19% copper, 0.404 grams/tonne (g/t) gold and an anomalous value of 107 ppm cobalt. Two quartz vein rubble samples returned anomalous values for copper (up to 0.86% Cu) and gold (up to 0.19 g/t gold).

A small inactive quarry also exists in the area of the Wheal Louisiana occurrence with sulfide (including chalcopyrite) bearing quartz veins in bedrock and quartz vein rubble. Great Atlantic is conducting additional rock sampling in this area. Prospecting and rock geochemical sampling are also planned during 2022 at other target areas within the Mascarene Property including areas where the Company has confirmed gold, copper and zinc mineralization in rubble adjacent to historic workings (please see the Company's website for results of previous rock sampling at the Mascarene Property).

Quarry rubble with copper sulfide (chalcopyrite) in quartz veins

Great Atlantic recently completed a five-hole diamond drilling program in the area of the Wheal Louisiana occurrence with chalcopyrite bearing veins being intersected (Company news release of March 16, 2022). The drill core from that program is currently being logged and sampled.

A broad northeast trending zone of magnetic high anomalies (identified during a 2001 government airborne magnetic survey) transects the entire Mascarene Property. Great Atlantic's management speculate this magnetic high trend to be associated with a buried mafic intrusion(s) and a possible target for mafic intrusive hosted copper-nickel-cobalt deposits. The current prospecting and rock sampling is and will be conducted within and adjacent to this magnetic high trend.

The prospecting and rock sampling is being supervised by a Qualified Person. Rock samples will be submitted to a certified laboratory independent of Great Atlantic for gold assay and multi-element analysis (including copper, nickel, cobalt and zinc).

The Mascarene Property covers an area of approximately 2,080 hectares. The property is located approximately 6 kilometers southwest of the town of Saint George. Access is excellent with paved provincial roads transecting the property and within close proximity of the property.

David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

On Behalf of the board of directors
"Christopher R Anderson"

Mr. Christopher R. Anderson
President CEO Director
604-488-3900 - Office

Investor Relations:

Andrew Job

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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

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.

View source version on accesswire.com:


Great Atlantic Resources Corp. published this content on 04 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 April 2022 13:26:11 UTC.

© Publicnow 2022
06/28Great Atlantic Resources Corp. Reports Earnings Results for the Full Year Ended Februar..
06/28Great Atlantic Increases Financing to $816,500 and Submits for Closing
06/27Great Atlantic Resources Boosts Private Placement of Share Units to C$816,500
06/16GREAT ATLANTIC RESOURCES : Announces Financing
06/16Great Atlantic Resources Raising C$0.5 Million in a Private Placement of Share Units
06/16Great Atlantic Resources Corp. announced that it expects to receive CAD 0.5 million in ..
06/08Great Atlantic Prospecting and Rock Sampling Program Underway, 100% Owned Golden Promis..
06/07Great Atlantic Resources Corp. Announces It Has Begun the 2022 Prospecting and Rock Geo..
06/01Great Atlantic Maiden Drilling Program at Otter Brook Gold Showing Intersects 4.95 GT G..
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Sales 2021 - - -
Net income 2021 -2,26 M -1,76 M -1,76 M
Net cash 2021 1,24 M 0,96 M 0,96 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 2,68 M 2,08 M 2,08 M
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Managers and Directors
Christopher Ross Anderson President, Chief Executive Officer & Director
Scott Kent Chief Financial Officer & Director
Allan J. Beaton Independent Director
Barry Brown Secretary
Dave Martin Senior Geologist
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