FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR FRA: PH02 Great Atlantic Completes 2022 Exploration Program On Its 100% Owned South Quarry Tungsten Property Newfoundland
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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
FRA: PH02
Great Atlantic Completes 2022 Exploration Program On Its
100% Owned South Quarry
Tungsten Property
Newfoundland
VANCOUVER, British Columbia – November 10 th, 20 22 – GREAT ATLANTIC
RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to
announce it has completed the 2022 exploration program at its 10 0% owned South Quarry
Tungsten Property, located in east -central Newfoundland. The Company’s 2022 exploration
program consisted of prospecting and rock geochemical sampling coupled with soil geochemical
sampling, which focused on exploration for tungsten and gold mineralization both at and adjacent
to areas of known tungsten mineralization and tungsten soil geochemical anomalies. The South
Quarry Property consists of seven licences with a total area of 2,950 hectares.
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The 2022 exploration program of the South Quarry Property was focused on the central as well as
northern and southern regions of the property. Exploration of the property in 2022 was guided by
results from previous exploration seasons coupled with multiple regional geophysics datasets
available for the area surrounding the property. One of these targets in the northern region of the
property is based on soil geochemical sampling by the Company during 2015, during which two
samples returned anomalous tungsten values of 234 and 402 ppm. During the 2015 field season,
Great Atlantic confirmed high-grade tungsten mineralization in the northern region of the property
within scheelite-bearing pegmatite veins including eleven grab samples from one of the quarries
that exceeded 5% WO 3 as well as grab sample from a 25 -centimetre wide vein that yielded
11.94% WO3. Tungsten-bearing pegmatite veins were also confirmed by Great Atlantic elsewhere
in the northern region during in subsequent exploration programs (see news releases on the Great
Atlantic website for results of previous work at the South Quarry Property).
The South Quarry Property hosts high grade tungsten mineralization at two adjacent quarries,
being confirmed by Great Atlantic during the 2015 exploration program.
A total of 56 rock samples as well as 58 soil samples were collected at the South Quarry Property
during the 2022 exploration program. The rock samples collected during the 2022 program were
submitted to Eastern Analytical Ltd. and ALS Canada Ltd, for gold assay and multi -element
analysis. The soil samples collected during the 2022 exploration program were submitted to ALS
Canada Ltd. for gold assay and multi -element analysis. The analytical results for both the rock
and soil samples are pending.
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The rocks reported to underlie the South Quarry Property belong to the Baie d’Espoir Group, which
is a member of the Exploits Subzone of the Newfoundland Dunnage Zone. The South Quarry
Property is located within the eastern region of the Exploits Subzone . A number of new gold
discoveries have been recently made within the Exploits Subzone. These discoveries include the
Valentine Gold Project (Marathon Gold Corp., TSX.MOZ), the Queensway Project (New Found
Gold Corp., TSX -V.NFG), the Kingsway Project (Labrador Gold Corp., TSX -V.LAB), the
Moosehead Gold Project (Sokoman Minerals Corp., TSX-V.SIC) and at Great Atlantic’s Golden
Promise Property. Readers are cautioned that mineralization at these gold discoveries is not
necessarily indicative of mineralization at the South Quarry Property.
Several geologic and geochemical characteristics of the rocks within the South Quarry Property
coupled with the presence of reported gold-bearing mineral occurrences within five kilometers
northwest of the South Quarry Property ( Newfoundland and Labrador Department of Industry,
Energy and Technology) have led the company to increasingly focus on exploration for gold
mineralization at the propert y. Readers are cautioned that gold mineralization reported near the
northwest region of the South Quarry Property is not necessarily indicative of mineralization at
the South Quarry Property.
A qualified person verified the 2015 sample data stated in this news release and supervised the
2015 sampling. The 2015 samples (and lab -inserted blank, duplicate and standard samples) were
analyzed at ALS Canada Ltd. (ALS Canada is independent of Great Atlantic Resources). Tungsten
analysis was by lithium metaborate fusion followed by acid dissolution and ICP-MS analysis with
some samples re-analyzed by XRF.
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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 m ining 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.
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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 no t
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