Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] reported gold assays for drill core samples from its fall, 2021, diamond drilling program at the Otter Brook gold showing, located in the east region of its 100%-owned Golden Promise gold property located within the central Newfoundland gold belt.
The gold assays were for the first nine holes of the 12-hole program. Samples from four holes exceeded 1 g/t gold including 4.95 g/t gold over 0.50 metres core length in drill hole OB-21-9. Samples from other holes returned anomalous gold values. Based on depths and locations of intersected gold bearing intervals, Company management are interpreting at least four gold bearing veins/structures at/near this showing.
The drilling program at the Otter Brook gold showing consisted of 12 holes (1,651 meters), testing the Otter Brook gold showing down-dip and along its projected strike. Gold assays have been received for the first nine holes (OB-21-1 to OB-21-9), including the following intercepts: 1.201 g/t gold over 0.30 metres, 0.475 g/t gold over 0.38 metres, 0.943 g/t gold over 0.90 metres, 2.393 g/t gold over 0.34 metres, 0.762 g/t gold over 0.30 metres, 1.147 g/t gold over 0.57 metres and 4.949 g/t gold over 0.50 metres.
Of note, A 0.48-metre core length sample containing a quartz-carbonate-pyrite vein from drill hole OB-21-7 returned an anomalous value of 0.245 g/t gold. The area immediately south of this hole has not been drilled.
Gold assays are pending for drill core samples from the final three holes (OB-21-10 to OB-21-12).
Drill core from the 2021 program was logged and sampled by Great Atlantic personnel at a secure facility in central Newfoundland. The drilling intercepts reported in this news release are core lengths and not true widths.
Great Atlantic collected gold-bearing rock samples during 2020 at the Otter Brook gold showing from outcrop, subcrop and float. Eight of 11 rock samples collected during 2020 at this showing returned gold values in the 0.719 – 5.758 g/t range. An outcrop grab sample returned the highest value of 5.758 g/t gold.
The Golden Promise Property 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. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. MOZ-TSX] at the Valentine Gold Project, Sokoman Minerals Corp. [SIC-TSXV] at the Moosehead Gold Project and New Found Gold Corp. [NFG-TSXV] at the Queensway Project.