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Great Atlantic Resources Corp (3)
Symbol GR
Shares Issued 7,896,464
Close 2020-02-18 C$ 0.70
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Great Atlantic drills 2.04 m of 61.35 g/t Au in Nfld.

2020-02-19 10:53 ET - News Release

Mr. Christopher Anderson reports

GREAT ATLANTIC INTERSECTS 61.35 G/T GOLD OVER 2.04 METERS - GOLDEN PROMISE GOLD PROPERTY - CENTRAL NEWFOUNDLAND

Great Atlantic Resources Corp. has received analytical results for the fifth through 10th drill holes completed during the 2019 phase 1 diamond drilling program at its Golden Promise gold property, located within the central Newfoundland gold belt. The drilling program was conducted at the Jaclyn main zone (JMZ).

The analytical results received are for drill holes GP19-141, GP19-142 (stopped prematurely), GP19-142B, GP19-143, GP19-144 and GP19-145.

Highlights of gold assays include (core length):

  • GP19-143: 11.35 grams per tonne gold over 0.71 metre and 16.79 g/t gold over 0.45 m;
  • GP19-144: 61.35 g/t gold over 2.04 m;
  • GP19-145: 14.49 g/t gold over 1.52 m.

Drill hole GP19-141 tested the central and deeper part of the JMZ. Drill holes GP19-142 (stopped prematurely), GP19-142B, GP19-143, GP19-144 and GP19-145 tested the west half of the JMZ within the conceptual open-pit area.

Drill holes GP19-141, GP19-142, GP19-142B and GP19-144 were drilled at azimuths of approximately 335 to 340 and dips of 66 to 70 degrees to intersect the gold-bearing, northeast-east striking, southeast-dipping JMZ quartz vein system. Drill holes GP19-143 and GP19-145 were drilled at azimuths of approximately 300 degrees and dips of 50 to 62 degrees to intersect the JMZ vein system and possible cross veins. Drill hole GP19-142 was stopped prematurely at 16 m length and did not reach the planned target depth. Significant gold intersections for these drill holes as well as previously reported intersections for drill holes GP19-137 to GP19-140 (company news releases of Feb. 6 and 12, 2020) are displayed in the included table.

Hole No.  From (m)  To (m)  Length (m)  Au (g/t)

GP19-137     82.90   84.80        1.90     12.37
includes     82.90   83.60        0.70     11.09
includes     83.60   84.50        0.90      9.50
includes     84.50   84.80        0.30     24.00
GP19-138     18.50   19.05        0.55    113.07
GP19-138     47.10   47.37        0.27     93.96
GP19-139     97.50  100.20        2.70     15.70
includes     97.50   98.65        1.15      7.45
includes     99.40  100.20        0.80     42.35
GP16-140     51.80   77.05       25.25      2.30
includes     51.80   53.40        1.60     12.50
includes     57.48   58.16        0.68      3.06
includes     67.46   68.31        0.85     12.33
includes     70.15   71.05        0.90      8.68
includes     75.59   77.05        1.46     11.38
GP19-141    182.58  183.05        0.47      1.37
GP19-143     29.87   30.58        0.71     11.35
GP19-143     91.70   92.15        0.45     16.79
GP19-144     22.45   24.49        2.04     61.35
includes     22.45   22.88        0.43      1.55
includes     22.88   24.49       1.61*     77.32
GP19-145     38.10   39.62        1.52     14.49
includes     38.10   38.61        0.51      1.68
includes     38.61   39.62        1.01     20.96

* 31 per cent core loss between 22.88 to 
24.49 m.

The lengths reported in the table are core lengths and not true widths. Due to multiple gold-bearing quartz veins intersected in this part of the JMZ, possible different vein orientations and a slight reported change in the strike of the JMZ in this part of the zone, more information is required to estimate the true thickness of these vein intersections.

The 2019 phase I diamond drilling program consisted of 10 holes (including GP19-142, stopped prematurely) totalling 1,063 m. The drilling program primarily tested the west half of the JMZ within the conceptual pit-constrained area. Drill hole GP19-141 tested the deeper and central part of the JMZ. All holes were drilled to the northwest (300- to 340-degree azimuth) at dips of 50 to 80 degrees to intersect the JMZ. All nine holes that were drilled to planned depths intersected quartz veins with plus/minus sulphide mineralization. Visible gold is present within quartz veins intersected in holes GP-19-138, GP-19-139, GP-19-140 and GP-19-144. The hole numbering system used for the phase 1 drilling program was consistent with and continued from that used by previous explorers. The 2019 drilling program was managed by a qualified person.

The drill core samples were analyzed at Eastern Analytical Ltd. Samples of main quartz veins and quartz veined zones were analyzed by the total pulp metallics method. This involves crushing of the entire sample to minus 10 mesh and pulverizing to 95 per cent minus 150 mesh. The total sample is then weighed and screened 150 mesh. The plus 150 mesh fraction is fire assayed for gold and a 30-gram subsample of the minus 150 mesh fraction is fire assayed for gold. A calculated weighted average of total gold in the sample is reported as well (significant gold intersection values reported in this news release). Samples of metasediment with plus/minus quartz veins were assayed for gold by fire assay (30-gram subsamples) and analyzed for 34 elements (200-milligram subsamples totally dissolved in four acids and analyzed by inductively coupled plasma optical emission spectrometry). Eastern Analytical, a certified laboratory, is independent of Great Atlantic. Blank and standard samples were included in the sample submissions to Eastern Analytical. Duplicate analysis was conducted for some samples.

David Martin, PGeo, a qualified person as defined by National Instrument 43-101 and vice-president of exploration for Great Atlantic, is responsible for the technical information contained in this news release.

About Great Atlantic Resources Corp.

Great Atlantic 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 No. 1 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.

We seek Safe Harbor.

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