VANCOUVER, British Columbia, November 16 2020 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”)is pleased to announce it has intersected visible gold in the first hole of the Fall 2020 Phase 2 diamond drilling program at its Golden Promise Gold Property, located within the central Newfoundland gold belt.The first hole of the program (GP20-146) was completed at the Jaclyn North Zone, testing the continuation of gold bearing quartz veins along strike to the east. The drill hole intersected quartz veins / quartz veined intervals (+/- carbonate) with sulfide mineralization. Visible gold is evident in one quartz vein.
The Jaclyn North Zone (JNZ) is part of the Jaclyn Zone, being located within the northern region of the Golden Promise Property. The Jaclyn Zone hosts five gold bearing quartz veins systems, including the JNZ. The JNZ is reported to strike slightly northeast, being located approximately 250 meters north of the Jaclyn Main Zone. GP20-146 was collared approximately 50 meters east of the eastern-most historic JNZ drill hole. GP20-146 was drilled slightly southeast at a 50-degree dip to a length of a 140 Meters.
GP20-146 intersected quartz veins / quartz veined intervals (+/- carbonate) at various depths (individual vein intersections being up to approximately 0.9 meters core length) with pyrite, arsenopyrite and / or pyrrhotite, thereby extending the Jaclyn North Zone vein system approximately 50 meters east.The most prominent single vein was intersected at 75.7 -76.6 meters (0.9 meters core length). A zone of increased veining was intersected at 101.3 – 113.0 meters (11.7 meters core length). Visible gold was intersected within a 5-centimeter thick quartz – carbonate vein at 122.25 meters.
Drill core from GP20-146 has been geologically logged and sampled. Drill core samples along with inserted standard and blank samples were recently submitted to Eastern Analytical Ltd. in Springdale, NL for gold assay and multi-element analysis. Drill hole GP20-147 is currently underway approximately 50 meters east of GP20-146.
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
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