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    GR   CA3900873025


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Great Atlantic Resources : Begins Exploration Program Expanding Its Tungsten Focus To Include Gold 100% Owned South Quarry Tungsten Property Located in the Exploits Subzone Newfoundland

09/24/2021 | 08:30am EST

VANCOUVER - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (FRA: PH01) (the 'Company' or 'Great Atlantic') is pleased to announce it has begun the 2021 exploration program at its 100% owned 2,950 Hectare, South Quarry Tungsten Property, located in east-central Newfoundland.

The program will consist of prospecting and rock - soil geochemical sampling, exploring for tungsten and gold mineralization.

The Property hosts high grade tungsten mineralization from two quarries exceeding 1% WO3. The Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Recent significant gold discoveries are reported within the Exploits Subzone.

The 2021 program is focusing on the central - northern regions of the South Quarry Property, exploring for new zones of tungsten mineralization in high priority target areas identified by the Company during previous exploration programs. These include areas of anomalous tungsten in bedrock and / or in soil. One area of current focus is within the northeast region of the property where 2015 soil samples returned highly anomalous tungsten values of 234 and 402 ppm. Tungsten bearing pegmatite veins occur in the northern region of the property. Great Atlantic confirmed high-grade tungsten mineralization (scheelite) in veins in this area during 2015 (News Release of November 19, 2015). Eleven quarry rubble grab samples exceeded 5% WO3 (W % x 1.26 equals WO3%). A grab sample from a 25-centimeter wide vein returned 11.94% WO3.

The 2021 program will also evaluate certain areas for gold mineralization. The Property is underexplored with respect to gold. It is located within the eastern region of the Exploits Subzone. The Exploits Subzone hosts recently discovered gold discoveries, including those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization at the South Quarry Property.

Christopher R. Anderson, President, CEO. and Director, stated 'Mr. Martin and Myself were an integral part of the initial Management team that advanced the Sisson Tungsten-Molybdenum Project in New Brunswick, an advanced stage project currently operated by Northcliff Resources Ltd. 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 the company. We would be happy to welcome a Joint Venture partner to assist in advancing the South Quarry Tungsten Project.'


Mr. Christopher R. Anderson

Tel: 604-488-3900

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.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
GREAT ATLANTIC RESOURCES CORP. 0.00% 0.22 Delayed Quote.-12.00%
NEW FOUND GOLD CORP. 4.38% 8.11 Delayed Quote.-9.69%
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Sales 2021 - - -
Net income 2021 -2,26 M -1,80 M -1,80 M
Net cash 2021 1,24 M 0,98 M 0,98 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 6,21 M 4,92 M 4,94 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 67,4%
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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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