Great Atlantic Invites Diamond Drilling Proposals for 2024 Fully Funded Jaclyn Main Zone Drilling at its 100% Owned Golden Promise Gold Property — Central Newfoundland

Corporate Update
June 12, 2024
Great Atlantic Resources Arranges $75,000 Private Placement
July 3, 2024

VANCOUVER, British Columbia June 25, 2024 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has invited diamond drilling proposals from multiple contractors for planned 2024 drilling at its 100% owned Golden Promise Gold Property, located in the central Newfoundland. Nine holes are planned for approximately 900 meters.

The fully funded drilling program will be conducted during August – September with partner Novamera Inc. at the gold-bearing Jaclyn Main Zone (JMZ). The drill program will include Novamera’s proprietary Guidance Technology, providing increased data and resource knowledge to define the shape, geometry and continuity of the vein. The drilling is planned for the area of a planned 2024-2025 bulk sample, also being fully funded.

The objective of the planned 2024 diamond drilling program is to further define gold bearing quartz veins in one part of the JMZ in preparation for extraction of the bulk sample. The nine diamond drill holes are planned within the west region of the JMZ targeting gold bearing veins to approximately 100 meters vertical depth. Golden Promise Mines Inc. submitted an application in late May to the Newfoundland and Labrador government for the diamond drilling. Pending approval, the drilling program is planned to begin during late August.

Great Atlantic confirmed high-grade gold in quartz veins in the west region of the Jaclyn Main Zone during 2019 and 2021 diamond drilling programs, including near surface high grade intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters and 61.35 g/t gold over 2.04 meters (see Company news releases for results of 2019 and 2021 diamond drilling programs).

The planned approximately 2700 tonne bulk sample at the JMZ is to be extracted after diamond drilling and bulk sampling approval using a precision mining method, powered by Novamera’s proprietary Surgical Mining technologies. The transformative new mining method leverages hardware, software, AI and ML paired with conventional drilling equipment to extract ore at a fraction of the cost of conventional mining methods.

The 2024 diamond drilling and subsequent bulk sample work at the JMZ 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. The Link to the announcement can be found here.

Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold – uncapped) (Company News Release of December 6, 2018; and Sedar-filed National Instrument 43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo.).

The Golden Promise Gold Property is the largest and most advanced of eight central Newfoundland gold properties owned by Golden Promise Mines Inc. and located within the Exploits Subzone of the Newfoundland Dunnage Zone. One of these properties (Golden Trust) is located within one kilometer of the Valentine Gold Mine of Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) which is also located within the Exploits Subzone. Readers are warned that mineralization at the Valentine Gold Mine is not necessarily indicative of mineralization at the Golden Promise Property or any of the other central Newfoundland gold properties of Golden Promise Mines Inc.

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:




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