VANCOUVER, British Columbia – January 27, 2021 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has identified gold soil geochemical anomalies at its 100% owned Golden Trust Project. The property is located within central Newfoundland, its southern boundary one kilometre north of the Valentine Gold Property of Marathon Gold Corp. (TSXV.MOZ).
David Martin, VP Exploration for Great Atlantic, states:
“We are very encouraged by our initial exploration program on the Golden Trust Gold Property. The proportion of soil samples anomalous for gold is significant with anomalous samples concentrated in a few areas representing targets for 2021 exploration. A northeast trending fault is also reported in this region of the property, representing a favourable structure for gold mineralization.”
The 2020 reconnaissance soil sampling program was conducted within the northern region of the Golden Trust Property. Twenty-three samples (approximately 18% of the samples) returned anomalous values of 6-52 ppb gold of which eleven samples (approximately 9% of samples) returned 11-52 ppb gold and 4 samples exceeded 20 ppb gold (24-52 ppb Au). The gold anomalies occur as single sample anomalies and as clusters of anomalous samples. Highlights include:
- Sixteen of 50 samples (approx. 32%) along an approximate 1.3-kilometer section of a soil line returned 6-26 ppb gold with 6 samples returning 11-26 ppb gold. A northeast trending fault is reported in this region.
- Three of six samples along an approximate 130-meter section of a soil line returned gold values of 14, 19 and 52 ppb.
- Scattered additional gold anomalies up to 28 ppb gold.
Key points for the Golden Trust Property include:
- Southern boundary is located 1 km north of the Valentine Gold Project of Marathon Gold Corp. The property is approximately 44 km southwest of Great Atlantic’s Golden Promise Property and approximately 31 km southwest of the Duck Pond VMS deposit.
- Within the prospective Victoria Lake Supergroup which hosts numerous epigenetic gold & volcanogenic massive sulfide occurrences (including the Duck Pond base metal/precious metal deposit).
- Within the Exploits Subzone of the Dunnage Zone and east of a major (Appalachian-scale) collisional boundary, and suture zone.
- Government till samples (2008) returned elevated to anomalous values for gold in various regions of the Golden Trust Property.
- The property, totalling 2,400 hectares, occurs within an under-explored area of the Newfoundland central gold belt.
The 2020 soil samples were analyzed by Eastern Analytical Ltd. The soil samples were dried and sieved to -80 mesh. Subsamples of the sieved portions were analyzed for gold by fire assay – atomic absorption (AA) and for 34 elements by four acid – ICP-OES. Great Atlantic is independent of Eastern Analytical Ltd.
Readers are warned that mineralization at the Valentine Gold Project, Golden Promise Property, Duck Pond Deposit and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization within the Golden Trust Property.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson “Always be positive, strive for solutions, and never give up”
President CEO Director
604-488-3900 – Dir
Please call 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4