Vancouver, British Columbia–(Newsfile Corp. – January 30, 2019) – Great Atlantic Resources (TSXV:GR) (FSE: PH01) has announced that Explorex Resources plans to conduct a comprehensive exploration program, at its Kagoot Brook cobalt-manganese base metals project in New Brunswick, consisting of a detailed geophysical survey followed by a 2,000 metre drill program.
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In May 2018, Explorex Resources (CSE:EX) optioned a 75% interest in Great Atlantic’s Kagoot Brook project, which consists of 7 claims covering 4,233 hectares, located approximately 85 kilometres southwest of Bathurst along the southwest margin of the famous Bathurst Mining Camp. Historical work at Kagoot Brook delineated two drainages, two kilometres apart, that exhibit a series of remarkably anomalous cobalt values up to 6,000 parts per million in the silts.
Recent follow-up stream silt sampling programs performed by Explorex revealed a significant concentration of and a strong relationship of cobalt with manganese and associated base metals including nickel, copper, lead and zinc as well as a distinct upstream cut-off of the cobalt mineralization. The relative percentage of the cobalt to manganese indicates a favourable high cobalt tenor, or grade component. The project area is blanketed by a thin till cover with little or no outcrop and the in-stream silt grade cut-offs are interpreted to closely reflect the southern contact of the underlying mineralized horizon. The grade cut-offs align well with stratigraphy adding confidence to the greater than 2 kilometre inferred potential length of mineralization along the geological trend.
Explorex took advantage of a window of opportunity and completed two holes for a total 500 metres prior to the Christmas break. This initial two-hole drill program was limited in scope and designed to drill along one transect across the target stratigraphy within the 4 x 1 kilometre target area. The processing of the core is complete and results should be available mid to late February.
In 1983, the New Brunswick Government, released stream sediment sampling results with anomalous responses which led to the staking of the Kagoot Brook claims by Brunswick Mining and Smelting. Brunswick Mining conducted extensive soil sampling commencing in 1984 and completed 4.6 kilometres of magnetic and 13.0 kilometres of VLF-EM geophysical surveys over the gridded area, as well as stream sediment silt samples. The VLF survey indicated 3 strong and 2 weak conductors within the property. The trends are oriented near east-west and delineate three areas of major interest. The soil samples returned favourable results from the three areas with a strong association between copper, silver and cobalt with the VLF conductors.
The Kagoot Brook property is 100% owned by Great Atlantic, subject to an underlying agreement with a prospecting syndicate. Great Atlantic is actively building its portfolio of projects utilizing a Project Generation model, with a special focus on the critical elements that are prominent in Atlantic Canada, such as zinc, cobalt antimony, tungsten and gold.
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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