Inomin, Sumitomo partner up on British Columbia nickel project
Sumitomo will have the right to earn up to an 80% interest in the project by spending at least C$8 million on exploration.
Great Atlantic Resources (TSXV:GR) is moving closer to owning 100% interest in three properties in New Brunswick, on Canada’s Atlantic Coast.
This week, the Vancouver-based miner made its 2020 option payments to vendors of the Kagoot Brook cobalt property, Glenelg vanadium property and Mascarene polymetallic property.
Kagoot Brook is located in north-central New Brunswick, 85 kilometres southwest of Bathurst along the southwest margin of the Bathurst Mining Camp. The option agreement was signed in 2018 and, since then, the company has expanded the property to the current approximate 4,233 hectare area.
Besides the properties it is now optining, Great Atlantic already owns the Keymet, Porcupine, Mount Raymond and McDougall Road projects in New Brunswick
According to Great Atlantic, Kagoot Brook covers reported cobalt stream silt geochemical anomalies, some highly anomalous (up to 6,000 ppm cobalt or 0.6% cobalt).
Glenelg, on the other hand, was optioned in 2019 and, since then, it has been expanded to the current approximate 3,500-hectare area.
The property hosts vanadium and titanium mineralization, occurring within the Bocabec Gabbro Complex. Great Atlantic reports that a 2018 outcrop grab sample collected from a magnetic layer in the Bocabec Gabbro Complex returned 0.188% vanadium (0.33% V2O5), 10.3% TiO2 and 25.71% iron.
The Mascarene project is located in southwest New Brunswick and was optioned in 2018. Since then, Great Atlantic has expanded the property to the current approximate 2,080-hectare area.
“The Mascarene property is reported to contain multiple mineral occurrences with cobalt, copper, nickel, zinc, lead, gold and / or silver, some with historic workings dating back to the 1800s,” the miner said in a media statement.
“The company verified zinc-lead-silver and gold-copper-nickel-cobalt mineralization in rubble near historic workings at two reported mineral occurrences during 2018.”
