Great Atlantic’s Newly Discovered Gold Bearing Outcrop with Float, Sampled over 30 Meters
Great Atlantic Announces Private Placement For Up To $500,000 With A Lead Order From Palisades Goldcorp
February 5, 2021Great Atlantic Closes $675,000 Financing with a Lead Order from Palisades Goldcorp.
February 25, 202190 % of Samples Highly Anomalous in Gold Up To 5.7 G/T Gold
Golden Promise Gold Property, 100% Owned In the Hottest Emerging Gold District In North America
VANCOUVER, British Columbia, February 18, 2021 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has received additional analytical results for 2020 rock samples collected at the Newly Discovered Gold Bearing Outcrop. The Otter Brook Gold Showing, is located within the east-central region of the Golden Promise Property.
Four rock grab samples from float boulders and outcrop
returned 1.44, 1.93, 2.92 and 3.53 grams per tonne (g/t) gold.
A previous 2020 rock sample from this showing returned
5.75 g/t gold (Company News Release of December 3, 2020).
The Otter Brook showing has not been drilled.
Eleven rock grab samples were collected during the 2020 program
from the Otter Brook showing, located in the east-central region of
the Golden Promise Property. The samples were collected during two
separate visits by Company prospectors over a 30 meter length.
A grab sample collected during the first visit from gabbro outcrop with quartz
veining and sulfide mineralization returned 5.75 g/t gold (Great Atlantic News
Release of December 3, 2020). Six rock samples were collected during the
second visit to the showing later in 2020, all returning significant levels of gold
in range of 0.78 to 3.53 g/t gold while also returning up to 0.30% copper.
These consisted of sulfide bearing quartz breccia and sulfide bearing mafic rock with quartz veining. Samples exceeded 0.5 g/t gold from 2020 sampling at the Otter Brook showing include (gold converted from parts per billion to g/t).
The 2020 prospecting rock samples were submitted to Eastern Analytical Ltd. for gold
and multi-element analysis. The samples were assayed for gold (Fire Assay – AA)
and analyzed for 34 elements by ICP-OES.
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
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