Vancouver, British Columbia--(Newsfile Corp. - November 17, 2017) - Great Atlantic Resources (TSXV: GR) (FSE: PH01) together with its option partner Unity Resources, has released analytical results from rock samples collected during a recent trenching program, in preparation for a planned diamond drilling program at its Pilley's Island Property in late November.
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Pilley's Island Base Metal — Precious Metal Property, located in north-central Newfoundland, consists of 7 adjoining licenses covering a total area of 875 hectares, with excellent paved roads transecting the property.
Rock grab samples collected from the trenches returned up to 20.0% lead, 27.5% zinc, 8.36% Copper and 63.4 grams per tonne silver.
|Rock Grab Samples from Selected Styles of Mineralization|
|254513||8.36||0.01||0.14||15.5||---||High copper massive sulphide clast|
|254514||5.78||20.00||27.50||63.4||0.30||Zinc-lead rich massive sulphide clast|
|254515||0.48||0.01||0.05||4.7||---||Massive Py-Quartz clast|
|254517||2.02||6.50||16.40||41.7||---||Massive sulphide clast|
The recent trenching program included re-opening and re-evaluating the historic Bull Road Showing. The property is a volcanogenic massive sulphide deposit analogous to Kuroko/Buchans style mineralization.
The property hosts an historic copper mine with several zinc, lead, copper, gold and silver occurrences, and reported historic estimated reserves of 1,159,000 tonnes grading 1.23% copper, or 627,373 tons at 2.34% copper and 0.01 ounce per ton gold.
One area of recent trenching was the Bull Road Showing, where previous historic work included trenching and drilling with 7 holes sunk on the showing. Trenching along the trace of the Bull Road Showing exposed mineralization over a length of 130 metres with a width varying between 1 — 7 metres.
The Bull Road Showing is a polylithic slump breccia of volcanogenic massive sulphide mineralization containing massive sulphide clasts up to and greater than a metre in length.
Reported historic trench samples at Bull Road showing included 12.42% zinc, 3.87% copper, 0.95% lead, and 0.71 ounces per ton silver over 4.6 metres. One historic drill hole at this showing reportedly intersected 22.2% zinc and 4.4% lead, 0.1% copper, and 0.96 ounces per ton silver over 0.65 metres of core, within an intersection of 7.85 metres grading 3.41% zinc, 0.51% lead, 0.66% copper, 0.34 ounces per ton silver.
|Historic Trench Samples and Drill Intercepts|
|Zinc %||Lead %||Copper %||Silver (opt)|
|Trench Sample||12.42||0.95||3.87||0.71||4.6 metres|
|Historic Drill Hole||3.41||0.51||0.66||0.34||7.85 metres|
The shares are trading at $0.115 and with 37.1 million shares outstanding, the company is capitalized at $4.3 million.
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 [email protected]
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