Reports > Great
Despite the fact
that the Canadian Province of New Brunswick is not as
well known in mining circles as several more famous
regions, the prestigious Fraser Institute rankings of
mining jurisdictions for 2011-2012 named that province
as the single most favorable jurisdiction for mining in
the world. Nova Scotia, Newfoundland and Labrador also
placed in the top twenty rankings.
One Canadian junior mining company, Great Atlantic
Resources Corp. has accumulated a portfolio of
projects within these provinces and is sufficiently
impressed with the Canadian Atlantic region to have
officially changed their name during June, 2012 to Great
Atlantic Resources Corp. The name change is also
consistent with company president Christopher Anderson’s
personal goals for the company, expressed in the phrase,
“Boots and hammers on the ground in Atlantic Canada.”
It was your correspondent’s privilege to accompany Great
Atlantic’s management and geologic team on a journalist
and analyst tour of their various New Brunswick projects
during late June, 2012.
Great Atlantic’s four most important projects are
Elm Tree Minerals Inc. can earn up to
a 70% interest in the property following certain cash
and share payments as well as meeting funding
requirements to advance the property, plus an additional
10% interest upon completion of a bankable feasibility
The Keymet Property consists
of 162 mineral claims comprising 6,480 acres
located in the famed Bathurst Region of New
Brunswick and has had a lengthy mining history.
The Keymet vein was first
discovered in 1882. After favorable assays were
returned from grab samples, a 20-meter shaft was
sunk around 1909 and a drift was put in along
No further development was
recorded until 1947-52 when the vein was traced
by widely-spaced drilling over a distance of
2,400 feet from the shaft, leading to a
The mine entered a period of active
production from 1954 to 1956, processing a total of
56,000 tons of ore grading 0.25% copper, 2.44% lead,
2.59% zinc and just below one ounce per ton silver
before a fire destroyed the mine buildings. During the
productive life of the mine, a shaft was constructed
down to the 366-meter level. When we visited the mine
site, all that remained was a body of crushed rock and
the previous shaft had been blocked off.
An exploration program has been
developed to explore two distinct types of
mineralization which are found in the northern areas of
the claims. These include the known
lead-zinc-copper-silver veins associated with past
production and the newly discovered disseminated
gold-silver showings associated with chloritic
alteration and silicification. Grab samples taken from
the past production ore dump ran 549 grams per tonne (gpt)
Ag, 2.35% Cu, 33.90% Pb and 22.90% Zn.
Working in cooperation with Elm Tree Minerals, company
geologists have identified specific drill targets and an
11-hole drill program covering 2,050 meters has been
proposed for late summer 2012 to test various targets
within the two zones. In addition, there are several
areas on the main claim block where outcrops of up to 3
gpt Au are known to exist and the company plans
trenching and sampling programs to identify new drill
Mining within the Bathurst Mining Camp has been
extensive with the largest project being the Bathurst
No. 12 Mine, which finally shut down during the past two
years due to exhaustion of mineable reserves. However,
to Great Atlantic’s benefit, extensive infrastructure
remains available within the region and, for purposes of
research, the Province of New Brunswick has also
maintained extensive bodies of core recovered during
past regional mining efforts.
Earth Element and Base Metal Property, New Brunswick
Explorex Resources Inc. can earn up
to a 70% interest in the property following certain cash
and share payments as well as incurring specified
exploration expenditures, plus they may earn an
additional 15% upon
completion of a bankable
interest in Porcupine was triggered by
significant rare earth element (REE) anomalies
that were collected on the property. Extensive
exploration work was conducted in 2011 including
prospecting, Induced Polarization (IP) surveys
and a 971 sample soil geochemical survey.
Based on this work, company
geologists were able to identify strong,
coincident east-west trending Cu, Pb, Zn
anomalies and spatially distinct rare earth
element (REE) anomalies. Access to the Porcupine
Property is excellent with roads leading
directly into the project and area
infrastructure is very supportive of mining
Explorex commissioned a “NI 43-101
Technical Report: Evaluation of the Porcupine Property
inCentral New Brunswick: CU, Pb, Zn, Ag and Rare Earth
Elements” in December, 2011. The Report confirmed “...an
enhanced chargeability horizon and spatially distinct
REE anomalies...Some of the REE anomalies are near
foliated granite, and are found within a linear
north-trending zone between two resistivity highs that
could represent a fault.”
The report’s author, Rudolph Stea, recommended a
two-phase program of exploration at Porcupine including
bedrock mapping, trenching and sampling. The company is
presently conducting an initial mapping and prospecting
program over the property.
REE’s themselves have garnered a great deal of attention
over the past few years. They have become essential
components of many phases of “green technology,” being
particularly applicable to wind turbines. In addition,
REE’s are also essential for many military weaponry
programs, a consideration heightened by the fact that
China controls a near monopoly on the REE supply market,
and they have stated publicly they intend to limit
shipments of REE supplies in the near future, meaning
the discovery and eventual production of North American
sources could take on significant importance.
Property, New Brunswick
Great Atlantic has entered into an
option agreement with Portage Minerals Inc. to acquire a
50% interest in the 4,160-acre Otter Lake property and
the company owns 100% interest in an additional 2,400
acres acquired via staking, bringing the total
contiguous land position at Otter Lake to 6,560 acres.
Otter Lake is located 15 Km east of the Mt. Pleasant
zinc, indium, tungsten, molybdenum and bismuth deposit,
which is presently being readied for renewed production.
Four significant Au, Ag, W, Mo and Bi showings occur on
the property between the Pender Brook and Sawyer Brook
Fault Zones. These faults are within Silurian
metasediments and are bound by the northern flanks of
the Mt. Douglas and Magaguadavic granites. An extensive
trenching program is now underway with access provided
by a gravel road.
Specific goals of the current exploration program
include defining drill targets for the 2012 drilling
season and identifying several tungsten and gold targets
with a wide range of Au values up to 30 gpt throughout
the property. Five specific target areas have been
identified at Otter Lake including the Porphyry Zone,
Otter Lake, Jimmy Hill, Line 10-11W and the Shear Mine.
The Shear Mine target area is of particular interest
with a discovery history dating back to the 1860s.
Gold and Graphite Property, Nova Scotia
The company has entered into an
option agreement to acquire a 100% interest in the
former Big Beach property in return for defined cash and
share payments plus exploration expenditure commitments.
Christmas Island’s potential
involves both gold and graphite—a mineral of
particular recent interest. Graphite has many
industrial applications such as pencils, paints,
batteries, founding facings and dry lubricants,
but two uses have been the particular forces
behind the recent burst of interest in graphite.
First, most Chinese car manufacturers prefer
graphite for brake linings and brake shoes and,
given that the rate of manufacture of autos in
China has been growing rapidly in recent years,
this represents a substantial new demand.
Second, graphite has applications as an
ingredient in “graphene,” a material at the
leading edge of scientific research that could
revolutionize many industrial procedures.
The company was pleased to learn that it has been
classified as a mid-tier graphite explorer by Industrial
Alliance Securities Inc. in their recently published
Sector Overview of graphite explorers.
Great Atlantic recently commenced an exploration program
on the property to expand on known gold and graphite
showings and conduct the first systematic geological
exploration on the project to determine drill targets.
In addition to these properties, the
company also has several other early-stage manganese,
antimony and gold projects located in Atlantic Canada.
One of the reasons New Brunswick ranks at the top of the
Fraser Institute listings is the province is well aware
of the economic, social and job training aspects of
mining within the provincial economy and is truly
committed to the encouragement of mining enterprises.
Another group also aware of the advantages of mining is
the Eel Ground aboriginal Band, which invited the tour
members to enjoy an Atlantic lobster and salmon feast.
Tribal leaders made it clear they were aware of the
benefits that accompany successful mining ventures.
Atlantic Resources Corp.
888 Dunsmuir St Suite 888