Great Atlantic Resources Corp (TSX-V:GR) revealed that it has received impressive gold assays and multi-element analyses for drill core samples from its 2022 drilling program at its Mascarene property in southern New Brunswick.
The Vancouver-based exploration company said the program was conducted in the southern region of the Mascarene property at the Wheal Louisiana copper-nickel-cobalt mineral occurrence.
The drilling program tested areas of reported copper soil geochemical anomalies and copper and gold bearing rubble near historic pits/shafts. This was the company’s maiden drill program for the southern region of the property.
READ: Great Atlantic Resources begins 2022 exploration program at wholly-owned Pilley's Island property
According to Great Atlantic, the results confirm copper bearing veins and anomalous levels of gold, silver, cobalt, and nickel adjacent to a prominent magnetic high trend. The results include a 0.40-meter (m) core length sample in drill hole MA-22-5, which returned 6.74% copper, 0.627 grams per tonne (g/t) gold and 34.5 g/t silver.
Great Atlantic’s 2022 drilling program consisted of five drill holes (MA-22-5 to MA-22-9) totaling 787m. Quartz and/or carbonate veins with chalcopyrite (+/- pyrite and pyrrhotite) were intersected in four drill holes — MA-22-5, MA-22-6, MA-22-7 and MA-22-9.
Significantly, copper mineralization in hole MA-22-9 is within 10m of surface. Great Atlantic said its management team is interpreting the mineralized veins intersected in holes MA-22-5 and MA-22-9 as separate vein systems.
Investors can find comprehensive results for intercepts in a tabulated form here.
In a nutshell, Great Atlantic’s drilling program was conducted adjacent to a broad northeast trending zone of magnetic high anomalies, which were identified during a 2001 government airborne magnetic survey that transected the sprawling Mascarene property.
Great Atlantic's management believes the magnetic high trend to be potentially associated with a “buried mafic intrusion(s) and a possible target for mafic intrusive hosted copper-nickel-cobalt deposits.”
Meanwhile, the company said it has collected additional rock geochemical samples in the area and the results are pending.
The Mascarene property covers approximately 2,080 hectares and is located 6 kilometers southwest of the town of Saint George.
Great Atlantic is focused on the discovery and development of mineral assets in the resource-rich realm of Atlantic Canada, which is rated as one of the number one mining regions in the world.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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