VANCOUVER, British Columbia – January 27, 2020 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”)is pleased to announce it has received analytical results for rock samples collected during 2019 at the Gabbro Gold Occurrence within its Golden Promise Gold Property, located in the central Newfoundland gold belt. Three 2019 samples returned low-grade gold values up to 1.11 grams per tonne (g/t) gold, including:
2019 bedrock grab samples from quartz veins cutting gabbro at historic trench returned0.80 and 1.11 g/t gold.
2019 rubble sample of gabbro with pyrite at historic trench returned 0.47 g/t gold.
The Gabbro Gold Occurrence is located within the southern region of the Golden Promise Property, being one of multiple gold-bearing zones on the Property. The most advanced of the zones is the Jacklyn Zone in the northern region of the Property (assays pending from 2019 diamond drilling program at Jaclyn Main Zone).
During the 2019 program, Great Atlantic personnel located a large trench at the reported site of the Gabbro Gold Occurrence and collected bedrock grab and rubble grab samples, including samples containing quartz veins. Two bedrock grab samples within this trench from quartz veins cutting gabbro returned 0.80 g/t gold and 1.11 g/t gold. Another grab sample from rubble of pyrite-bearing gabbro returned 0.47 g/t gold. The sampling was supervised by a Qualified Person. The samples were assayed for gold at ALS Canada Ltd. using the Metallic Screening method. ALS Canada Ltd. is independent of Great Atlantic.
Historic outcrop grab sample of gabbro with quartz veins at the Gabbro Gold Occurrence, collected during 2005 and 2006 were reported to return 10.04 g/t gold and 9.145 g/t gold. Two historic trenches were reported to be excavated at this occurrence during 2009 with samples anomalous in gold reported.
The Golden Promise Gold 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 Red Indian Line (RIL). The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries in this region of the Exploits Subzone include those of Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and Marathon Gold Corp. (TSXV.MOZ) at the Valentine Gold Project.
Readers are warned that mineralization at the Moosehead Property and Valentine Gold Project is not necessarily indicative of mineralization on the Golden Promise Property.
Readers are warned that historical records of high-grade gold at the Gabbro Gold Occurrences referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required at the Gabbro Gold Occurrence to verify that historical records referred to in this News Release are accurate.
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
Mr. Christopher R. Anderson
“Always be positive, strive for solutions, and never give up”
President CEO Director
604-488-3900 – Dir
Investor Relations: 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