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Great Atlantic Resources Corp (3)
Symbol GR
Shares Issued 6,572,464
Close 2020-01-24 C$ 0.70
Recent Sedar Documents

Great Atlantic grab samples up to 1.11 g/t Au at Golden

2020-01-27 09:18 ET - News Release

Mr. Christopher Anderson reports

GREAT ATLANTIC CONFIRMS GOLD MINERALIZATION GABBRO GOLD OCCURRENCE GOLDEN PROMISE GOLD PROPERTY CENTRAL NEWFOUNDLAND

Great Atlantic Resources Corp. 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 of up to 1.11 grams per tonne gold, including:

  • Two thousand nineteen bedrock grab samples from quartz veins cutting gabbro at a historic trench returned 0.8 gram per tonne and 1.11 grams per tonne gold.
  • A 2019 rubble sample of gabbro with pyrite at a historic trench returned 0.47 gram per tonne 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 a 2019 diamond drilling program at the Jacklyn 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 0.8 gram per tonne gold and 1.11 grams per tonne gold. Another grab sample from rubble of pyrite-bearing gabbro returned 0.47 gram per tonne 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 is independent of Great Atlantic.

Historic outcrop grab samples of gabbro with quartz veins at the gabbro gold occurrence, collected during 2005 and 2006, were reported to return 10.04 grams per tonne gold and 9.145 grams per tonne 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. at the Moosehead gold project and Marathon Gold Corp. 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, PGeo, a qualified person as defined by National Instrument 43-101, vice-president of exploration of Great Atlantic, is responsible for the technical information contained in this news release.

About Great Atlantic Resources Corp.

Great Atlantic Resources is a Canadian exploration company that is focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada.

We seek Safe Harbor.

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