Initial Exploration Program Completed – Drill Targets Defined
FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – November 28, 2012 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce an update on the North Claim block of its Porcupine property, New Brunswick.
Silver and Base Metals – North Claim Block
The trenching program on the Porcupine North base metal and silver block has been completed and a mineralized zone has been exposed in the Line 4W trench. This zone is at the contact between felsic and mafic volcanics and occurs as a series of shear controlled stringers and veins of massive sphalerite with secondary galena varying between hairlines and 10 cm in width. The zone is cross cut by widely spaced chalcopyrite veinlets of less than 1 cm. The width of the exposed zone and the spacing of these veins within the zone is variable along strike. The maximum observed zone width is 4.5 meters and within a few meters along strike this narrows to 1.5 meters. The mineralization in the narrower portion is restricted to the larger veins themselves while in the wider portions, the mineralization is in the larger veins and in a network of interconnected stringers.
A total of three channel samples were taken from the shear zone and sent to Activation Laboratories, Ancaster, ON and the rocks were run by ICP/OES following a four acid digestion. (inductively coupled plasma/optical emission spectroscopy). The narrow portion of the shear zone returned 11.1g/t Ag, 0.16% Cu, 0.88% Pb and 1.88% Zn/1.4 meters. The wider portion of the zone, approximately 10 meters east along strike returned 7.86 g/t Ag, 0.23% Cu, 0.67% Pb, 0.75% Zn over 4.6 meters. Of note is that during the course of stripping this zone, abundant large boulders of sheared felsic volcanics were seen to occur at the contact of the till and the bedrock surface within a lodgement till phase. While these boulders are visually similar to those uncovered in the trenching, geochemically they are quite different – particularly in their Bismuth (Bi) content. The bedrock sampling showed the exposed zone to contain 10 – 20 ppm Bi whereas the “float” samples contain between 130 and 210 ppm Bi, indicating a similar but separate source for the float material. Assays of two of the Bi enriched boulders, announced in a news release on August 29, 2012, returned 122 g/t Ag, 2.40% Cu, 20.7% Pb, 6.89% Zn and 58.7 g/t Ag, 0.94% Cu, 6.69% Pb and 1.52% Zn. The occurrence of these mineralized boulders wedged into depressions in the bedrock surface initially led to the conclusion that the boulders were actually broken bedrock from the immediate area. When the exposure was washed and the till more closely examined, it became apparent that the more strongly mineralized float was carried by the ice from a location to the west.
A summary of the channel samples is listed below;
The original interpretation was that the soil geochemistry and the IP anomaly were coincident and that the displacement between the two anomalies was due to down slope migration of the mobile Zinc ions. At the initial trench location on Line 4W, the soils and IP were co-incident and the assumption was made that the two features were related which was subsequently determined to not be so. Further trenching along strike to the east has shown that the IP is due to abundant pyrite stringers within both the felsic and mafic volcanics. Analysis of this material has shown it to be depleted in both precious and base metals which is not the same mineralized feature as the base metals in the Line 4W trench. The base metals we see there are almost totally deficient in pyrite. The pyritic shear zone outlined by the IP anomaly trends at 114 degrees T, while the structure that controls the mineralization in the Line 4W trench clearly trends at 080 to 084 deg T. These are two different structures just happen to converge at the Line 4W location. The geochemical trend more closely represents the mineralized trend than does the IP trend.
Trenching data to date has identified adequate mineralization to warrant further trenching and follow-up diamond drilling in the near future. This work would be focussed on the up-ice (westerly) source are of the float boulders. The drilling would entail a series of six parallel holes, 150 meters in length, at a nominal spacing of 50 meters to cover this target area. Total cost for the drilling would be around $80,000 in normal conditions, and about $96,000 in winter conditions.
Patrick Forseille, P. Geo., a Qualified Person as defined by NI 43-101 is responsible for the technical information contained in this release.
About Great Atlantic Resources Corp:
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. Recently New Brunswick was announced as the number one mining region in the world. Great Atlantic has assembled the A-team of explorers in the region with decades of experience and known track records for discoveries. Currently the company is propelling forward under a project generation model with a focus on Antimony, Tungsten and Gold.
On Behalf of the board of directors
Christopher R Anderson,
CEO – President 604 488-3900
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