Great Atlantic Commences Diamond Drilling Program Glenelg Vanadium Property Southwest New Brunswick
Great Atlantic Resources Corp. [GR:TSXV] announced today it has commenced the Phase 1 diamond drilling program on its Glenelg Vanadium Property, located in southwest New Brunswick. The program will test areas of vanadium and titanium bearing outcrop and magnetic geophysical anomalies. The program is partially funded through the New Brunswick Junior Mining Assistance Program (NBJMAP).
The drilling program is being conducted in the southeast region of the Glenelg Property within the Bocabec Gabbro Complex. Company and reported historic bedrock grab samples from this region of the Property returned significant levels of vanadium and titanium. Highlights include:
– Vanadium, titanium & iron mineralization in layered Bocabec Gabbro Complex.
– Company & historic bedrock grab samples of 0.33% & 0.42% V2O5 & 27.5% TiO2.
– Historic bedrock grab samples of 14 g/t Au, 1.28% Bi & 0.65% Co.
A 2018 grab sample collected by the Company in the area of the current Phase 1 drilling program from a magnetic layer in the Bocabec Gabbro Complex returned 0.188% vanadium (0.33% V2O5), 10.3% TiO2 and 25.71% iron. This sample was collected by a qualified person. This sample was analyzed by ALS Canada Ltd. by XRF Fusion.
Another 2018 bedrock grab sample from the same southeast region of the property was reported to return 0.234% vanadium (0.42% V2O5), 7.34% titanium (12.2%TiO2) and 28.8% iron. This sample was collected by one of the Company’s option partners for the property. A 2013 sample from this region was reported to return 16.5% titanium (27.5% TiO2). These samples have not been verified by a Qualified Person.
Polymetallic veins are reported within the Glenelg Property. A grab sample collected during 2006 was reported to return 2.6 grams per tonne (g/t) gold and 0.65% cobalt. A 2013 grab sample from a sulfide vein was reported to return 14 g/t gold, 1.28% bismuth and 0.12% cobalt. Both samples are reported within the southeast region of the property. These samples have not been verified by a Qualified Person.
The Company acquired the Glenelg Property earlier in 2019 and recently expanded the property threefold to the current area of approximately 3,500 hectares (Company News Releases of May 6 and September 30, 2019). The recent mineral claim staking by the Company significantly expanded the the Glenelg Proeprty to the west-northwest, covering additional ground reported to be underlain by the Silurian Bocabec Gabbro Complex (intrusive complex including gabbro, granodiorite, diorite and granite), areas of reported magnetic anomalies and three gold occurrences (as reported in the New Brunswick Department of Natural Resources and Energy Development Mineral Occurrence files). Such magnetic anomalies are interpreted by Company management to be targets for vanadium and titanium bearing magnetite-rich rich layers within the Complex. A reported 1990 bedrock grab sample of quartz-sulfide breccia from one of the gold occurrences was reported to return 1.33 g/t gold.
The Glenelg Property is located immediately south of the Clarence Stream Gold Project of Galway Metals Inc. (TSXV.GWM). A portion of the northern boundary of the Glenelg Property borders Galway’s Clarence Stream Gold Project. Galway reported a NI 43-101 resource estimate for the project during 2017, reporting total Measured plus Indicated resources of 6,178,000 tonnes at 1.96 g/t gold (390,000 ounces of gold) and total Inferred resources of 3,409,000 tonnes at 2.53 g/t gold (277,000 ounces of gold). Galway reported a new gold discovery at the Clarence Stream Gold Project earlier this year with one hole reported to intersect 7.3 g/t gold over 36.7 meters core length (Galway News Release of February 13, 2019).
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