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Great Atlantic updates activity by optionee on Kagoot Brook Cobalt property in New Brunswick

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In May 2018, Explorex Resources (CSE:EX) optioned a 75% interest in its Kagoot Brook cobalt 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.

Additional Information:

Company: Great Atlantic Resources’
Website: http://www.greatatlanticresources.com
Stock Symbol: TSXV: GR
Date Published: Sep 25, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Great Atlantic Resources’ optionee on its Kagoot Brook cobalt property in New Brunswick has released an update on its recent exploration program.

In May 2018, Explorex Resources optioned a 75% interest in its Kagoot Brook cobalt 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 remarkably high cobalt values up to 6,000 ppm in the silts.

The recent results from a complementary silt sampling program fully corroborated the existence and intensity of the cobalt mineralization and revealed a strong relationship and significant occurrence of manganese and base metals (nickel, copper, lead and zinc) with the cobalt mineralization.

The observed suite of elements and local geological units supports a ferromanganese marine environment indicating a strong affinity and trap for cobalt and base metals; a setting similar to the well-known ferromanganese stratiform mineralizing models around the world.

Management believes the amount of manganese and iron in the cobalt enriched silts, upwards to 4.1% and 26.7% respectively, indicates a prevalent source with size potential, and the relative percentage of the manganese to cobalt indicates a favourable high cobalt tenor, or grade component.

As a result, Explorex optionee has initiated a follow-up stream silt sampling program with tightly spaced sample stations to better frame the contact of the underlying target mineralized horizon.

In conjunction, a detailed magnetometer and very low frequency electromagnetic (“VLF-EM”) survey has been initiated to map the underlying stratigraphy to assist with the targeting.

Once these additional surveys have been completed and integrated with the historical work, a drill program is planned, the first on the property.

The Kagoot Brook property is 100% owned by Great Atlantic, subject to an underlying agreement with a prospecting syndicate.

Upon Explorex earning its 75% by incurring exploration expenses of $750,000 over a 4-year period, of which $100,000 is to be incurred in the 1st year, the two parties will enter into a joint venture.

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.

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.
The shares are trading at $0.05.

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 info@kayewynn.com

I’m Samantha Deutscher for Investmentpitch Media