Great Atlantic Resources Advances to Bulk Sample Using Novamera’s Surgical Mining Technologies at Jaclyn Main Zone at its 100% Owned Golden Promise Property — Newfoundland

Vancouver, British Columbia March 4, 2024 – Great Atlantic Resources (“GR” or the “Company”) (TSX.GR), is pleased to announce that its wholly owned subsidiary, Golden Promise Mines Inc. (“GPM”), a gold development company which wholly owns several projects in Central Newfoundland is planning a bulk sample at the Jaclyn Main Zone deposit (the “Project”) for Q4 2024 in partnership with Novamera Inc. (“Novamera”).

The Project contains a NI 43-101 compliant mineral resource estimate of 119,900 inferred ounces at 10.4 grams per tonne (“g/t”) gold (See Company news release dated December 6, 2018).

To extract the approximately 2,700 tonne bulk sample, GR will use a precision mining method,powered by Novamera’s proprietary Surgical Mining technologies. The bulk sample will provide mining and metallurgical data to inform future economic and technical studies to advance the Project to a production decision. The sample is being funded in part by co-investment from DIGITAL, Canada’s Global Innovation Cluster for digital technologies, as part of a larger project that aims to support data-driven and digital solutions within the mining sector. Link to the announcement can be found here https://www.digitalsupercluster.ca/projects/data-driven-surgical-mining/

Benefits of Surgical Mining

Surgical Mining is an economic option for bringing steeply dipping narrow vein deposits into production, like the Jaclyn Main Zone. The innovative solution is a lower capex and faster path to production, while also radically reducing environmental and social impact. Given the minimal upfront development costs, Surgical Mining enables junior mining companies to get into production and generate cash flow, offering a second source of cash and relying less on the capital markets to fund strategic plans. In addition, the time to permits can be reduced because of the small footprint and scale of the operation.

“Situated in one of Newfoundland’s most prolific gold belts, we’re eager to advance our bulk sample program at the Jaclyn Main Zone, pioneering the use of this innovative and transformative mining technology in Canada,” said Chris Anderson, CEO of Great Atlantic Resources. “We’re excited to partner with Novamera to showcase the potential of low-impact mining in our country.”

“We’re excited to be working with Great Atlantic to demonstrate the potential for Surgical Mining to unlock new mining opportunities. The Bulk Sample in partnership with Great Atlantic will be key to showing how Surgical Mining can economically support the increased production of minerals and metals and meet growing global demand, quickly and sustainably,” says Dustin Angelo, Novamera CEO.

2019 drill core of quartz veins with visible gold  — Jaclyn Main Zone, Golden Promise Property

Jaclyn Main Zone

The Jaclyn Main Zone (or the Project) is part of the Golden Promise Gold Property (the “Property”) owned by GR’s subsidiary GPM. The Property is located within the central Newfoundland gold belt, near the town of Badger. Multiple gold bearing quartz veins/quartz vein systems and zones of gold bearing quartz boulders are reported within the Property. One such quartz vein system is the Jaclyn Main Zone. GAR reported a 43-101 compliant mineral resource estimate for the Project during December 2018 (119,900 ounces gold, Inferred resource). Multiple 2017 GAR quartz samples from different regions of the Property exceeded 1 ounce per tonne gold. Diamond drilling in 2019 and 2021 tested a section of the Project, with high grade gold intersected in multiple holes, including core length intersections of:

• 35 g/t gold / 2.04 meters
• 80 g/t gold / 2.70 meters
• 07 g/t gold / 0.55 meters
• 30 g/t gold / 25.25 meters
• 85 g/t gold / 0.75 meters

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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

For more information, please contact Christopher Anderson, CEO, at office@greatatlanticresources.com.

About Novamera

Novamera has developed Surgical Mining technologies that pinpoint, map, navigate and extract high value narrow vein deposits. Novamera’s precision drilling products integrate into conventional drilling equipment, enabling mining companies to quickly and sustainably mine various metal and mineral deposits that are otherwise uneconomic due to size, geometry, and orientation. The process has large scale environmental and social impacts to support ESG targets and improve social licence, requiring a small footprint with no blasting, the solution produces 95% less waste, 44% less GHG emissions and 99% less water discharge. To date, the company successfully completed three projects and has plans for additional projects this year.

Cautionary Statements 

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.

David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), 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
President CEO Director

604-488-3900 – Office

Investor Relations:
1-416-628-1560  
IR@GreatAtlanticResources.com

 

 

 

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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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.

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