Great Atlantic Acquires Nashwaak Lake Tungsten Property, Located Three Kilometers Northwest of Sisson Project Western New Brunswick

Globe and Mail

19-02-2025

Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to announce it has acquired 100% interest (through a purchase agreement) in the Nashwaak Lake Tungsten Property, located in western New Brunswick. The property is located approximately three kilometers northwest of the Sisson Project (tungsten and molybdenum project) of Northcliff Resources Ltd.
Tungsten mineralization is reported at the Nashwaak Lake Property including reported 0.443% tungsten (0.558% WO3) over 0.96 meters core length in a 2009 diamond drill hole and 2.03% tungsten (2.55% WO3) for a 2022 rock sample.
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The Nashwaak Lake Property consists of one mineral claim covering an area of approximately 222 hectares. Great Atlantic's management have compiled historical exploration information for the area of the property from Reports of Work on file with the New Brunswick Department of Natural Resources and Energy Development. These reports document soil and prospecting rock / drill core samples anomalous for tungsten within the area of the Nashwaak Lake Property. Reported highlights include:
Three 2009 rock samples (from glacial float) collected by Geodex Minerals Ltd. were reported to exceed 2,000 parts per million (ppm) tungsten with up to 2,140 ppm tungsten (0.214% W or 0.27% WO3) (Martin, 2010).
Two 2009 diamond drill holes by Geodex Minerals Ltd. were reported to intersect 3,064 ppm tungsten (0.306% W or 0.38% WO3) over 1.55 meters core length and 4,430 ppm tungsten (0.443% W or 0.55% WO3) over 0.96 meters core length (Martin, 2010). These near-surface intercepts are reported to be within altered granite.
A 2016 soil sample collected by Dave Stevens was reported to return a highly anomalous value of 214 ppm tungsten (Steven, 2016).
A 2017 rock sample collected by Dave Stevens was reported to return 8,030 ppm tungsten (0.803% W or 1.01% WO3) (Stevens, 2018). The Report of Work indicates this sample to have been collected from glacial float.
Great Atlantic recently obtained sample data for rock samples collected by the late Dave Stevens during 2022. A rock sample reported to have been collected from the area of the Nashwaak Lake Property returned 20,300 ppm tungsten (2.03% W or 2.55% WO3). Great Atlantic's management are assuming this sample was collected from glacial float.
The Sisson Project of Northcliff Resources Ltd. is located approximately three kilometers southeast of the Nashwaak Lake Property. The Sisson Project hosts the Sisson Tungsten - Molybdenum Deposit. Northcliff reported mineral reserves at the Sisson Deposit of 334.4 million tonnes of proven and probable reserves at 0.066% WO3 and 0.021% Mo and an NSR of $24.15 / tonne (January 2013 at $8.83 / tonne NSR cut-off). Readers are warned that mineralization at the Sison Project is not necessarily indicative of mineralization at the Nashwaak Lake Property.
Readers are warned that Great Atlantic has not verified tungsten soil anomalies or tungsten bearing rock samples at the Nashwaak Lake Property as stated in this report.
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
Investor Relations:
1-416-628-1560
[e-mail]
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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 mining 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 not 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.