Samples Assay up to 25.2% WO3 – Tungsten

FOCUSED ON EXPLORING ATLANTIC CANADA

                               

 (TSXV : GR)

 (FRA: PH01)  (OTCBB: PRZCF)

VANCOUVER, British Columbia – November 19, 2015 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received analyses and assays for rock samples collected during the summer at its South Quarry Tungsten Project, located in east-central Newfoundland. The South Quarry Project covers an area of approximately 3160 hectares.

During the work program conducted in August 2015, 28 rock samples were collected from numerous blocks of rubble and bedrock in two close spaced quarries in the northern half of the project. These quarries include a small north quarry and a larger south quarry. Most of the samples were from veins consisting of quartz, mica, feldspar and scheelite. A small number of metasediment wall rock samples were also collected from both rubble and bedrock. Samples were grab samples as well as vein channel samples. A rock saw was also used to collect vein samples from blocks of rubble. The veins were upto 50 centimetres wide. The samples were collected at multiple locations at the two quarries. Great Atlantic submitted the samples to ALS Minerals for analysis and assay. The samples were initially analyzed for tungsten by Lithium Metaborate Fusion and Inductively Coupled Plasma – Mass Spectrometry (ICP-MS). Samples exceeding 10,000 parts per million (ppm) for tungsten were assayed for tungsten by X-Ray Fluorescence (XRF). The samples were also assayed for gold by Fire Assay - Atomic Absorption Spectroscopy (AAS) and analyzed for 51 elements by Aqua Regia, Inductively Coupled Plasma – Atomic Emission Spectroscopy (ICP-AES) / ICP-MS. Seventeen of the 28 rock samples assayed greater than 1% WO3 with 12 samples exceeding 5% WO3 (W % times 1.26 equals WO3 %).

16 samples were collected from the small north quarry. This quarry is approximately 60 metres long by approximately 20 metres wide. It is currently inactive and filled with water, therefore limiting access for sampling. The samples were of vein material from multiple pieces of rubble at the east and west ends of this small quarry and from vein and metasediment bedrock at the east end of this quarry.  The 16 samples and corresponding weights, tungsten analyses – assays and field descriptions are listed in the following table (vein samples may contain a small portion of adjacent metasediment wall rock):

Rock Samples from small north quarry -northern region of South Quarry Tungsten Project

(W% x 1.26 = WO3%)

Small North Quarry – northern region of South Quarry Tungsten Project

 

Scheelite – bearing vein cutting metasediment at small North Quarry

12 Samples were collected from the larger adjacent south quarry (also in the northern region of the Project). This larger quarry is approximately 140 metres south of the smaller north quarry. The larger south quarry is at least 200 metres long by up to approximately 100 metres wide. It is currently inactive and partly filled with water. At two locations along its south wall veins in bedrock were sampled. Other samples were of vein material and metasediment from multiple pieces of rubble mainly near the north wall. The 16 samples and corresponding weights, tungsten analyses – assays and field descriptions are listed in the following table (vein samples may contain a small portion of adjacent metasediment wall rock):

Main South Quarry – northern region of South Quarry Tungsten Project


 

Historical publically available reports document exploration in the area of these two quarries by Kidd Creek Mines during the 1980s (assessment reports on file with the Newfoundland and Labrador Department of Natural Resources). Kidd Creek reported scheelite bearing veins in a stripped area at the approximate location of the small north quarry. Kidd Creek reported multiple vein channel samples from this trench to exceed 1% WO3 (27 channel samples of veins from one part of the trench were reported to average 1.79% WO3). Kidd Creek assessment reports also document scheelite bearing veins in the main south quarry. 

David Martin, VP Exploration for Great Atlantic Resources Corp., stated “the samples collected in the areas of these two quarries are very significant in terms of apparent high tungsten content in veins and local scheelite bands in metasediment. This provides a basis for future Great Atlantic work including trenching / stripping and diamond drilling. The objective of future work is to confirm and establish scheelite content and crystal size in veins, vein spacing and vein thickness as well as confirming and defining zones where scheelite content is significant in metasediment. Pending a successful resource definition, potential tungsten ore sorting techniques should be investigated.”

Christopher R. Anderson, President and CEO., stated “ Both myself and  our VP of Exploration Dave Martin were intimately involved in the advancement and development of the Sisson  Project, another Tungsten asset in the Maritimes. The Sisson Project is now on its way to become a near term producer under the management of  HDI’s NorthCliff Resources NCF. We like talking Tungsten and understand the  market and feel that the South Quarry Tungsten project,  although early stage, has the ear marks of being a significant asset for Great Atlantic’s property portfolio. We are looking forward to advancing this project further, and will be actively seeking partners and additional expertise to help us do so.” 

Great Atlantic has the option to acquire 100% interest in the property, subject to a 3% NSR. Access to the property is excellent with a paved road transecting the property.

Readers are warned that public historical records referred to in this News Release have been examined but not verified by a Qualified Person as defined by NI 43-101. Further work is required by such a Qualified Person registered in Newfoundland and Labrador to verify that historical assays referred to in this News Release are accurate.David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

Further Great Atlantic Resources Corp. announces that is has closed the first tranche of the private placement announced on November 4, 2015. The first tranche is for a total of 1,400,000 flow through shares for gross proceeds of $70,000. The Company paid a cash commission of $2,500. The Company announces March 18, 2016 as the hold period expiry date for the first tranche.

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, Antimony, Tungsten and Gold.

On Behalf of the board of directors

“Lorne Mann”   Director

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.

Great Atlantic Resource Corp

888 Dunsmuir Street - Suite 888,  Vancouver, B.C., V6C 3K4    Tel:  604-488-3900604-488-3900