Vancouver, British Columbia--(Newsfile Corp. - September 26, 2024) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to announce it has received analytical results for the first five 2024 rock samples collected at its 100% owned Pilley's Island Base Metal - Precious Metal Property, located in north-central Newfoundland.
Semi-massive to massive sulfides in outcrop (4.36% zinc in outcrop grab sample)
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Four samples (outcrop and subcrop) from one site in the northern region of the property contain semi-massive to massive sulfide mineralization. These samples yielded anomalous - highly anomalous values for gold, silver, copper, lead and zinc including up to 1.32 grams / tonne (g/t) gold, 4.36% zinc, 0.61% lead and 6499 parts per million (ppm) copper. This is a new target area for Great Atlantic.
The semi-massive and massive sulfides occur in lenses or fragments in an outcrop within the northern region of the property near the reported location of the Fragmental Zone zinc - lead - copper mineral occurrence (Newfoundland and Labrador Department of Industry, Energy and Technology, Mineral Occurrence Database System). The sulfide mineralization consists mainly of pyrite. Galena (lead sulfide) was observed by field personnel in a few samples. The lenses or fragments with semi-massive to massive sulfides in the outcrop were measured by Great Atlantic personnel up to approximately 0.7 meters long by up to 0.3 meters wide.
The five rock samples returned the following results for gold, silver, copper, lead and zinc:
| Sample | Outcrop / | Au | Ag | Cu | Pb | Pb | Zn | Zn |
| Number | Subcrop | G/T | G/T | ppm | ppm | % | ppm | % |
| 23895-24-01 | Outcrop | 0.713 | 11.5 | 1346 | >2200 | 0.24 | >2200 | 1.25 |
| 23895-24-02 | Outcrop | 0.916 | 19.6 | 5965 | >2200 | 0.32 | >2200 | 0.55 |
| 23895-24-03 | Outcrop | 0.464 | 5.6 | 1680 | 1168 | >2200 | 4.36 | |
| 23895-24-04 | Outcrop | 0.062 | 0.5 | 219 | 159 | 452 | ||
| 23895-24-05 | Subcrop | 1.325 | 14.2 | 6499 | >2200 | 0.61 | >2200 | 3.11 |
The focus of the 2024 program at Pilley's Island is exploration for base metal and precious metal bearing volcanogenic massive sulfide (VMS) deposits. VMS deposits are reported at the property, including the historic Pilley's Island Mine (which operated during the 1890s and early 1900s) and the Bull Road showing zinc - lead - copper - silver - antimony mineral occurrence, both located within the northern region of the property (Newfoundland and Labrador Department of Industry, Energy and Technology, Mineral Occurrence Database System).
Samples 23895-24-01 to 23895-24-05 were collected approximately 150-200 meters northwest of the Company's 2017 samples at the Bull Road Showing mineral occurrence. Great Atlantic collected samples containing high grade zinc plus lead, copper, silver and gold mineralization during 2017 within a trench at the Bull Road Showing including a 1.05 meters long channel sample returning 15.40% zinc, 6.60% lead, 4.66% copper, 111.5 g/t silver and 1.005 g/t gold and outcrop grab samples returning up to 40.8% zinc, 20.0% lead, 8.38% copper, 148.1 g/t silver and 2.27 g/t gold (see Company news releases of November 16 and December 14, 2017).
The current and previous exploration programs at the Company's Pilley's Island Property are / were managed by a Qualified Person. The 2017 and 2024 rock samples referred to in this news release were analyzed at Eastern Analytical Ltd. The 2024 samples were analyzed for gold by fire assay - atomic absorption (AA) and analyzed for 34 elements by four acid digestion - ICP-OES with re-analysis of some samples for silver, lead and zinc by multi-acid digestion and AA analysis. The 2017 Bull Road showing samples referred to in this news release were analyzed for gold by fire assay - AA; and copper, lead, zinc and silver by multi-acid digestion and AA analysis. Eastern Analytical Ltd. is independent of Great Atlantic.
Newfoundland principal tectonic divisions map
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The Pilley's Island covers an area of 1,375 hectares. Access to the property is excellent with government-maintained roads.
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:
1-416-628-1560
IR@GreatAtlanticResources.com
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224553
SOURCE: Great Atlantic Resources Corp.
