Great Atlantic Resources Corp. [GR-TSXV] is currently conducting gold exploration consisting of prospecting and rock geochemical sampling at six 100%-owned properties in central Newfoundland adjacent to and in close proximity to the company’s flagship Golden Promise Gold Property.
The mineral licenses occur east, west, south, and southwest of the Golden Promise Property. Anomalous gold in soil and/or rock samples is reported within and/or adjacent to these mineral properties.
The six properties currently being explored are the Southwest Golden Promise, South Golden Promise, West Golden Promise, East Golden Promise, Lynx and Coronation. All except the Southwest Golden Promise Property consist of one mineral licence each.
The Southwest Golden Promise Property consists of two mineral licences. The 2022 programs include prospecting and rock geochemical sampling in target areas within the six properties. The company is also conducting exploration further southwest of these properties at the Golden Trust Property.
Company management have identified target areas within these six properties based on its previous work, reported mineral occurrences.
The Southwest Golden Promise Property consisting of Licences 026930M and 030870M (1,750 hectares) is located adjacent to the southwest region of the Golden Promise Property. Initial 2019 prospecting by Great Atlantic located gold bearing quartz vein rubble (possible subcrop). A sample from multiple pieces of quartz vein rubble at one location returned 3.14 g/t gold identifying a target area.
The Lynx Property – Licence 031209M (1,525 hectares) is located approximately 12 ko east of the northern region of the Golden Promise Property. The property covers the area of a reported high-grade gold bearing rock sample, reported gold soil geochemical anomalies and a reported pyrite-gold mineral occurrence. Reported historic highlights include a 2004 quartz float sample from the central region of the property was reported to return 17 g/t gold, 52 g/t silver, 1.74% copper and >1% antimony.The Lynx Pond pyrite-gold mineral occurrence is reported in the southern region of the property.
The Coronation Property – Licence 031208M (500 hectares) is located approximately 14 km east of the southern region of the Golden Promise Property. The property covers reported gold soil geochemical anomalies and two reported gold-silver-molybdenum-copper mineral occurrences.
Reported historic highlights include two gold-silver-molybdenum-copper mineral occurrences are reported within the property, the Coronation Lake South #1 and Coronation Lake South #2 occurrences. A 1975 diamond drill hole was reported to intersect 0.025 oz/ton gold over 3 feet core length. A 1975 float sample was reported to return 0.65% copper, 0.25% molybdenum and 0.015 oz/ton gold. Three 2005 soil samples were reported to return highly anomalous values of 0.43 parts per million (ppm) gold, 0.152 ppm gold and 0.112 ppm gold.
The East Golden Promise – Licence 031210M (1,125 hectares) is located adjacent to the east region of the Golden Promise Property. The property covers areas of reported gold bearing rock samples. These include two float samples reported to return 0.40 and 0.41 g/t gold.
The West Golden Promise Property – Licence 031549M (1,425 hectares) is located adjacent to the western region of the Golden Promise Property. A 2005 soil sample collected within 100 meters of the east boundary of the property was reported to return a highly anomalous value of 0.559 ppm gold.
The South Golden Promise Property – Licence 031552M (450 hectares) is located adjacent to the south region of the Golden Promise Property. A 2008 soil sample reported approximately 113 meters north of the property (in the company’s Golden Promise Property) was reported to return a highly anomalous value of 0.388 ppm gold.
The company’s central Newfoundland gold properties are located within the Exploits Subzone of the Newfoundland Dunnage Zone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold at the Valentine Gold Project, Sokoman Minerals at the Moosehead Gold Project and New Found Gold at the Queensway Project.