Great Atlantic drills 57.1 g/t gold over 0.65 metres at Golden Promise, Newfoundland

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Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] reported gold assays for drill core samples from the fifth drill hole (GP-21-153) of the 2021 diamond drilling program at its 100%-optioned Golden Promise gold property, located within the central Newfoundland gold belt. The hole was drilled at the Jaclyn main zone, located in the northern region of the property. The hole intersected near-surface gold-bearing quartz veins with visible gold. Intercepts include 57.1 g/t gold over a 0.65-metre core length and 6.26 g/t gold over 4.65 metres core length.

Quartz veins in hole GP-21-153 with visible gold returned 6.26 g/t gold over 4.65 metres core length. Hole GP-21-153 was drilled within the west region of the Jaclyn main zone (JMZ) which is part of the Jaclyn zone. The Jaclyn zone contains multiple gold-bearing quartz vein systems. The western part of the JMZ gold-bearing quartz vein system is reported to strike slightly northeast and dip steeply to the southeast.

Drill hole GP-21-153 tested an area of multiple gold-bearing veins within the JMZ. It was collared approximately nine m northwest of 2019 drill hole GP-19-140. Drill hole GP-19-140 (drilled at a 75˚dip slightly northwest) intersected multiple gold-bearing quartz veins within a 25.2-metre core length interval with a weighted average of 2.3 g/t gold over a 25.2-metre core length. GP-21-153 was drilled at an approximate 82˚dip slightly northwest to intersect the gold-bearing vein system vertically above the vein intercepts in hole GP-19-140.

GP-21-153 intersected multiple quartz veins, including veins with high-grade gold. A quartz vein intersected at 44-44.65 metres contains visible gold. A zone of predominantly quartz veining was intersected at 66.90-74.49 metres with visible gold in three veins.

The 2021 drilling program consisted of eight drill holes (848 total metres) at the Jaclyn Zone. Five holes (GP-21-149 to GP-51-153) were completed at the JMZ while three holes (GP-21-154 to GP-21-156) were completed at the Jaclyn North Zone. 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 the projected strike east of historic drilling. The company continued the drill hole numbering system from previous drilling programs. Drill core from each hole was geologically logged and core samples were cut at the Company’s secure facility in central Newfoundland.

Great Atlantic previously reported gold assays for drill holes GP-21-149 to GP-21-152 and holes GP-21-154 to GP-21-156. High grade gold was intersected in quartz veins in four of these holes. Intercepts (core length) for these drill 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). GP-21-151 returned 56.8 g/t gold over 0.75 metres (including visible gold). GP-21-156 returned 30.6 g/t gold over 0.41 metres (including visible gold).

Additional drilling is planned at the Jaclyn Zone during 2022. 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 the interval of multiple gold bearing veins in GP-19-140. averaging 2.30 g/t gold over 25.25 meters (see the Company’s news releases February 3, 12 and 19, 2020).

More information is required to estimate true thickness of these vein intercepts. 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 oz gold uncapped).

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