Great Atlantic drills 56.855 g/t gold over 0.75 metres at Golden Promise, Newfoundland

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Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] received analytical results for the third drill hole (GP-21-151) of the 2021 diamond drilling program at its 100%-optioned Golden Promise gold property in Newfoundland. The drill hole, completed at the Jaclyn Main Zone, intersected multiple near-surface gold-bearing intervals including a quartz veined interval with high-grade gold, returning 56.8 g/t gold over 0.75 metres core length. The Golden Promise property is located within the central Newfoundland gold belt.

GP-21-151 was drilled within the west region of the Jaclyn Main Zone (JMZ) in an area of high-grade quartz veins as intersected by Great Atlantic during the 2019 and 2021 drilling programs. GP-21-151 is a definition drill hole, the third hole of the 2021 8-hole drilling program at the Jaclyn Zone. It was drilled between two 2019 drill holes, GP-19-142B and GP-19-144, of which GP-19-144 intersected high-grade gold in a quartz vein (61.35 g/t gold over 2.04 metres core length). GP-21-151 was drilled at an approximate 50-degree dip to the northwest (approximately 350 degrees relative to True North) to further define multiple gold bearing veins in this part of the JMZ. It was drilled to a length of 116 metres.

Drill core from GP-21-151 was geologically logged and core samples were cut at the Company’s secure facility in central Newfoundland. The gold assays confirm multiple gol-metre core length quartz vein sample with visible gold returned 101.4 g/t gold. Significant intercepts (core length) for GP-21-151 include 0.35 metres of 5.160 g/t gold and 0.75 metres of 56.855 g/t gold, including 0.35 metres of 5.940 g/t gold and 0.40 metres of 101.406 g/t gold.

The summer 2021 drilling at the Jaclyn Zone was part of the Phase 2 drilling at this zone. Eight drill holes were completed during the drilling, five holes (GP-21-149 to GP-21-153) at the JMZ and three holes (GP-21-154 to GP-21-156) at the Jaclyn North Zone (JNZ). The objective of drilling at the JMZ was to further define the zone and provide information for an updated resource estimate of the JMZ. The objective of drilling at the JNZ was to further test the gold bearing quartz vein system along projected strike east of historic drilling. The Company continued the drill hole numbering system from previous drilling programs.

In addition to gold assays received for GP-21-151 samples, assays were previously received for core samples from GP-21-149 and GP-21-150, both intersecting high-grade gold in quartz veins. Intercepts (core length) for both holes include:GP-21-149: 238.4 g/t gold over 0.40 metres (including visible gold). GP-21-150 returned 20.13 g/t gold over 0.50 metres and 75.58 g/t gold over 0.35 metres (including visible gold in both veins).The summer 2021 drilling at the Jaclyn Zone was part of the Phase 2 drilling at this zone. Eight drill holes were completed during the drilling, five holes (GP-21-149 to GP-21-153) at the JMZ and three holes (GP-21-154 to GP-21-156) at the Jaclyn North Zone (JNZ). The objective of drilling at the JMZ was to further define the zone and provide information for an updated resource estimate of the JMZ. The objective of drilling at the JNZ was to further test the gold bearing quartz vein system along projected strike east of historic drilling. The Company continued the drill hole numbering system from previous drilling programs.

Great Atlantic reported a NI 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).

The company confirmed high-grade gold at the JMZ during its initial 2019 drilling, including near-surface intercepts (core length) of 113.07 g/t gold over 0.55 metres, 61.35 g/t gold over 2.04 metres and 15.8 g/t gold over 2.70 metres, plus an interval of multiple gold bearing veins in GP-19-140 averaging 2.30 g/t gold over 25.25 metres.

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.

 


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