Great Atlantic Resources announces Share for Debt Financing for CARD Technology -South Quarry Tungsten Property __________________________________________________________________________________ A PROJECT GENERATOR - FOCUSED ON ANTIMONY, TUNGSTEN AND GOLD
__________________________________________________________________________________ A PROJECT GENERATOR - FOCUSED ON ANTIMONY, TUNGSTEN AND GOLD (TSXV : GR)
VANCOUVER, British Columbia – April 16, 2013 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce that it is proceeding with a share for debt filing to pay accumulated service fees of $50,000. Approximately 1,000,000 shares in the capital stock of the Company will be issued to pay the recently completed CARDS survey (Computer Aided Resource Detection System) technology, employed to further define potential Tungsten exploration targets on the South Quarry property in Newfoundland. This technology was developed by DIAGNOS Inc. (“DIAGNOS”) (TSX Venture: ADK), a leader in the use of artificial intelligence and advanced knowledge-extraction techniques. The shares issued for stock will be subject to a four month hold period and Great Atlantic management will retain voting rights over the issued stock. This share for debt agreement is subject to TSX-V approval.
The South Quarry Tungsten showing is located in a rock quarry on the east side of the Baie d’Espoir Highway, approximately 7 km south of Berry Hill Pond, Central Newfoundland. This showing consists of a swarm of scheelite-bearing veins covering an area of at least 200 by 300 meters. Where veins have been exposed by stripping, a 200 meter long cross section of the vein swarm revealed veins up to 1.5 m wide and grading 0.3 to 0.4 % WO3. Associated with this occurrence is the stratiform Camp Ten tungsten showing where bedded scheelite occurs within limestone and calcareous sandstone horizons that dip toward the possible source of the mineralization – the Middle Ridge Granite.
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
“Chris Anderson”
Christopher R Anderson, CEO – President 604 488-3900
Read about Great Atlantic Resources Corp.: http://greatatlanticresources.com/corporate-overview/
Read Disclaimer: http://greatatlanticresources.com/legal-disclaimer/
Facebook: http://facebook.com/GreatAtlanticResources | Twitter: @GreatAtlRes |
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4