Great Atlantic intersects drills two high-grade gold veins at Golden Promise, Newfoundland

Great Atlantic Resources Corp. [GR-TSXV; PH0-FSE] received assays for the second drill hole (GP-21-150) of the 2021 diamond drilling program at its Golden Promise gold property in Newfoundland. The drill hole, completed at the Jaclyn main zone, intersected two high-grade quartz veins with visible gold, returning 75.5 g/t gold over 0.35-metre core length and 20.1 g/t gold over 0.50-metre core length. The Golden Promise property is located within the central Newfoundland gold belt.

GP-21-150 was drilled within the west region of the Jaclyn main zone (JMZ). It is an infill drill hole, the second hole of the summer 2021 eight-hole drilling program. GP-21-150 was drilled between two 2019 drill holes (GP-19-138 and GP-19-143B), both of which intersected high-grade gold mineralization in separate veins.

The gold assays confirm two high-grade quartz veins intersected by this hole. A 0.50-metre core length sample (30 to 30.50 metres) containing a quartz vein with visible gold returned 20.13 g/t gold. A 0.35-metre core length sample (76.20 to 76.55 metres) being part of a quartz vein with visible gold returned 75.58 g/t gold. Company management interprets both veins to be part of the JMZ vein system.

The summer 2021 drilling at the Jaclyn zone was part of the phase 2 drilling at this zone. Eight drill holes were completed during summer drilling, five at the JMZ and three 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 first five holes completed during 2021 were at the JMZ (GP-21-149 to GP-21-153) with visible gold intersected in quartz veins in four of these holes (assays are pending for core samples from holes GP-21-151 to GP-21-153).

Additional drilling is planned for the Jaclyn zone in 2022. The company continued the drill hole numbering system from previous drilling programs. Drill hole GP-21-149 intersected a vein with high-grade gold (238.4 g/t gold over 0.40-metre core length as reported in the company’s news release of November 9, 2021).

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).