Great Atlantic Resources Corp (TSX-V:GR) told investors it has completed this year's exploration program at its wholly-owned South Quarry Tungsten project in east-central Newfoundland and is awaiting lab results from rock and soil sampling.
The South Quarry property comprises seven licences over 2,950 hectares (Ha) and the fieldwork was focused on exploring for tungsten and gold mineralization at and near areas of known tungsten mineralization and tungsten soil geochemical anomalies.
"The 2022 exploration program of the South Quarry Property was focused on the central as well as northern and southern regions of the property," the company said in a statement.
Exploration was guided by the results from previous exploration seasons, coupled with multiple regional geophysics datasets available for the area surrounding the property, it added.
One of the targets in the northern region of the property was based on soil geochemical sampling by the firm during 2015, during which two samples returned anomalous tungsten values of 234 parts per million (ppm) and 402 ppm.
READ: Great Atlantic Resources kicks off 2022 exploration at six of its gold properties in Newfoundland
During the 2015 field season, Great Atlantic confirmed high-grade tungsten mineralization in the northern region of the property within veins, including 11 grab samples from one of the quarries that exceeded 5% tungsten trioxide (WO3) as well as a grab sample from a 25 centimetre (cm) wide vein that yielded 11.94% WO3.
In all, 56 rock samples and 58 soil samples were collected at the South Quarry Property during the 2022 exploration program.
Great Atlantic noted that the South Quarry property lies within the eastern region of the so-called Exploits Subzone, where a number of new gold discoveries have been recently made.
These include the Valentine gold project (Marathon Gold Corp), the Queensway project (New Found Gold Corp), the Moosehead gold project (Sokoman Minerals Corp) and at Great Atlantic's Golden Promise property.
But the company did caution that mineralization at these gold discoveries was "not necessarily" indicative of mineralization at its South Quarry property.
Great Atlantic Resources is a project generator with a special focus on critical elements prominent in Atlantic Canada: gold, copper, zinc, nickel, cobalt, antimony, and tungsten.
Contact the author at giles@proactiveinvestors.com