VANCOUVER, British Columbia, APRIL 1 2021 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received gold assays for prospecting rock samples and drill core samples from its Golden Promise Property, located within the central Newfoundland gold belt. All three drill holes from the 2020 program intersected gold bearing veins, extending the Jaclyn North Zone (JNZ) quartz vein system approximately 260 meters east of historic drilling.
Rock samples were collected during late 2020 from quartz float boulders east of the JNZ. This quartz boulder field is at least 300 meters long and 25-75 meters wide. Three quartz float samples from this boulder field returned 157.5, 26.7 and 17.4 grams / tonne (g/t) gold while seven float samples returned 1.49 to 6.72 g/t gold. The JNZ is part of the Jaclyn Zone, located in the north region of the property.
The drill core samples were collected from three drill holes completed during the 2020 fall diamond drilling program. Drill holes GP20-146, GP20-147 and GP20-148 tested the extension of the JNZ along its projected strike. Drill hole GP20-148, the eastern-most of the three drill holes, also tested the quartz boulder field discussed in the preceding paragraph. A 0.37-meter core length drill core sample from GP20-148 returned 3.88 g/t gold.
Thirty-eight rock samples were collected throughout the northeast-southwest trending quartz boulder field. Visible gold is present in two samples (430367 and 430398). The samples were assayed by Eastern Analytical Ltd. by the Total Pulp Metallics method. Ten quartz vein float samples exceeded 1 g/t gold, while 21 samples returned anomalous values of 13 – 543 parts per billion (ppb) gold (weighted average of +150 mesh and -150 mesh fraction fire assays). Samples exceeding 1 g/t gold are listed in the table below. Blank and gold standard samples were assayed for gold by Eastern Analytical.
Highlights of drill core samples from holes GP20-146, GP20-147 and GP20-148 are listed in the following table (core length):
The drill core samples were also assayed by Eastern Analytical Ltd using the Total Pulp Metallics method. The gold assays in the preceding table are weighted averages of +150 mesh and -150 mesh fraction fire assays. Blank and standard samples were inserted with the drill core sample submission to Eastern Analytical, which is independent from Great Atlantic. A Qualified Person supervised the 2020 exploration program.
Additional drill holes are planned east of the JNZ including the area of the quartz boulder field as the Company resumes Phase 2 drilling, scheduled to start this quarter . Drilling is also planned for the Jaclyn Main Zone (JMZ).
The Jaclyn Zone hosts five gold bearing quartz veins systems, including the JNZ, JMZ, Jaclyn East Zone and the Jaclyn West Zone.
The Golden Promise Property hosts multiple gold bearing quartz veins and is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization on the Golden Promise 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