Vancouver, British Columbia--(Newsfile Corp. - February 14, 2018) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) has acquired the Mascarene Cobalt-Copper-Nickel-Gold Property in southwest New Brunswick. The property, located approximately 6 kilometres southwest of the town of Saint George, has excellent access with paved provincial roads transecting or in close proximity to the property.
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Great Atlantic can acquire 100-per-cent interest in the property by means of cash payments totalling $200,000 over 5 years, with the optionor retaining a 2% NSR royalty of which 1% may be purchased back from the optionor.
Through staking, Great Atlantic has expanded the property to approximately 2,080 hectares.
Historic rock rubble samples from historic workings include reported values of up to 17.5% copper, 0.52% cobalt, 0.38% nickel and 21.8 grams per tonne gold. The Mascarene Property is reported to contain multiple copper along with nickel, cobalt, gold occurrences with historic pits and shafts dating back to the 1800s. Sulfide bearing veins are reported at some of these sites.
A 2002 airborne magnetic survey conducted by the New Brunswick government identified magnetic anomalies within the property. Magnetic geophysics anomalies occur within the property, some over 5 kilometres long, which the company is targeting as potential sources of mafic intrusive hosted copper-cobalt-nickel mineralization.
David Martin, VP Exploration for Great Atlantic stated: "The magnetic anomalies are a target for mafic intrusive hosted copper-nickel-cobalt deposits. Reported shallow vein-type mineralization at historic workings over magnetic anomalies may be indicative of deeper mafic intrusive hosted copper-cobalt-nickel mineralized bodies."
Historic 2004, 2011 and 2012 grab samples from the property are reported to contain significant levels of copper, cobalt, nickel and/or gold. These include samples from the mine dump adjacent to the historic Oliver Cameron shaft, of which at least 13 samples are reported to exceed 1% copper, with up to 7.73% copper reported, while also returning up to 0.52% cobalt, 0.38% nickel and 4.67 grams per tonne gold.
Two rubble samples reported at the near-by historic Oliver shaft were reported to return 15.6% copper and 0.99 grams per tonne gold; and 17.5% copper and 21.8 grams per tonne gold. Grab samples from a pit in this east region were reported to return up to 0.45% copper, 0.31% cobalt and 0.30% nickel.
Samples from the area of the historic Wheal Louisiana workings in the southern region of the property were reported to return up to 3.44% copper and 4.79 grams per tonne gold, with anomalous amounts of up to 0.13% cobalt and up to 0.15% nickel reported.
Of note, the Mascarene property is located approximately 30 kilometres southeast of the St. Stephen nickel/copper/cobalt Property, however it has not been determined if they share the same mineralization.
Great Atlantic is also active on several other precious-base metal projects in New Brunswick and Newfoundland.
For more information, please visit the company's website www.greatatlanticresources.com. Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email info@kayewynn.com.
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