Great Atlantic Resources starts 2024 exploration at Golden Promise, Newfoundland
Great Atlantic Resources Corp.’s [TSXV-GR; FSE-PHO2] wholly owned subsidiary, Golden Promise Mines Inc., has begun the 2024 exploration program at its Golden Promise gold property, located in the central Newfoundland gold belt. Exploration is under way and planned for multiple target areas to define trenching and diamond drilling targets.
Prospecting and rock/soil geochemical sampling are currently under way in two target areas within the southern region of the Golden Promise property. Geophysics surveys are also planned this month in these target areas.
One area of current prospecting and rock-soil geochemical sampling is within the southwest region of the property in an area of gold soil geochemical anomalies and rock samples anomalous for gold as identified by Great Atlantic during 2018 to 2023 programs.
This area of anomalous samples is approximately 4.5 km northeast of the gold-bearing Linda/Snow White quartz vein system. A number of anomalous gold values have been obtained from 2018-2023 rock and soil samples within this area including rock samples that yielded 1.04 g/t gold (collected in 2018), 0.57 g/t gold (collected in 2020) and 0.44 g/t gold (collected in 2023) and soil samples yielding up to 77 parts per billion (ppb) gold. Great Atlantic has received approval for diamond drilling (up to five drill holes) and excavator trenching (up to three trenches) for the area of these anomalous samples.
Prospecting, and rock-soil geochemical sampling is also underway in the southern region of the property approximately 1 km northeast of the Gabbro Zone gold occurrence. The work in being conducted in an area of reported magnetic and electromagnetic anomalies. Historic gold soil anomalies are reported in this target area although Great Atlantic has not verified such gold soil anomalies to date.
Great Atlantic has approval for up to five excavator trenches within this target area. Great Atlantic confirmed gold mineralization at the Gabbro Zone Gold Occurrence during 2019 including grab samples of quartz veins cutting gabbro returning 0.80 g/t and 1.11 g/t gold.
Golden Promise Mines is planning prospecting, rock-soil geochemical samples and geophysical surveys during 2024 is other target areas within the Golden Promise Mines Inc.
The Golden Promise Property hosts gold-bearing quartz veins in various regions of the property including the Jaclyn Zone, Shawn’s Shot vein, Otter Brook showing, Linda/Snow White quartz vein system and the Gabbro Zone occurrence.
Great Atlantic reported a NI 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold uncapped).
The Golden Promise property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. The Golden Promise Mine Properties begin 1 km north of the Valentine Gold Mine of Calibre Mining Corp. [TSX-CXB; OTCQX-CXBMF] which is also located within the Exploits Subzone.
Great Atlantic Resources is focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is utilizing a Project Generation model, with a focus on gold, copper, zinc, nickel, cobalt, antimony and tungsten.