Canadian company Great Atlantic Resources (TSXV:GR) has acquired the Glenelg vanadium property in southwest New Brunswick.
As quoted from the press release:
Recent bedrock grab samples from the property from a layered intrusion returned significant levels of vanadium and titanium. Historic grab bedrock samples are reported to return significant levels for gold, cobalt and bismuth. The property is located approximately 5 kilometers southeast of the Clarence Stream Gold Project of Galway Metals Inc.
The Glenelg property has seen little exploration. Company management cannot find evidence of historical drilling within the property. The property is reported to be underlain by the Silurian Bocabec Gabbro Complex (gabbro, minor granodiorite, diorite and granite).
Polymetallic veins were discovered within the property during 2006 and 2013 by one of the option partners. A grab sample collected during 2006 was reported to return 2.6 grams per tonne (g/t) gold and 0.65 percent cobalt. Another grab sample was reported to return greater than 1 percent copper and 0.15 percent cobalt. A 2013 grab sample from a sulfide vein was reported to return 14 g/t gold, 1.28 percent bismuth and 0.12percent cobalt.
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