Golden Promise Gold Property Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / April 9, 2024 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the "Company" or "Great Atlantic") is pleased to announce it has received additional analytical results for rock samples it collected at the Golden Promise Gold Property, located in Central Newfoundland. The property is 100% owned by Great Atlantic's wholly owned subsidiary, Golden Promise Mines Inc. ("GPM") a gold development company which wholly owns several projects in Central Newfoundland.
Glacial float and outcrop samples from a target area in the southwest region of the property returned anomalous vanadium values (two samples exceeded 1,000 parts per million (ppm)(> 0.1% V)) and anomalous gold values (up to 97 parts per billion (ppb)). One sample from this area also yielded anomalous copper, nickel and molybdenum values.
Great Atlantic conducted prospecting and rock geochemical sampling during the summer of 2023 at a new target area in the southwest region of the Golden Promise Property. The area was chosen due to reported bedrock geology which is favourable to host gold mineralization. The work was conducted near the reported contact of the Stanley Waters Formation and the Lawrence Harbour Formation, both part of the Victoria Lake Supergroup (Rogers et al., 2005). Gold bearing quartz veins elsewhere within the Golden Promise Properrty occur near the contact of these two formations. This 2023 work area is approximately 1.5 kilometers south of the gold bearing Linda / Snow White gold bearing quartz vein system.
Five rock grab samples collected within a small approximately 17 meters by 15 meters area in this southwest region returned anomalous gold and vanadium values. Four of these samples were collected from outcrop while one sample was collected from glacial float. All consist of dark shale with pyrite and +/- quartz veining. Two samples (float and outcrop) yielded anomalous values of 94 and 97 ppb gold (highest values) with both exceeding the upper analytical limit of 1,000 ppm vanadium (>0.1% V). Three other outcrop samples from this area yielded anomalous gold values of 54-86 ppb gold and anomalous vanadium values of 583-771 ppm. The float sample also yielded anomalous values of 398 ppm copper, 306 ppm nickel and 108 ppm molybdenum. Great Atlantic plans to re-submit the two samples exceeding 1,000 ppm vanadium for additional analysis to determine the actual vanadium content.
GPM is planning additional work during the 2024 field season within the southwest region of the Golden Promise Property with work to be focused in the area of the 2023 anomalous samples and elsewhere near the reported contacts of the Stanley Waters and Lawrence Harbour formations. Prospecting, rock - soil geochemical sampling and geophysical surveys are planned.
The Golden Promise Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. The property is located approximately 50 kilometers northeast of the Valentine Gold Mine of Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) which is also located within the Exploits Subzone. Readers are warned that mineralization at the Valentine Gold Mine is not necessarily indicative of mineralization at the Golden Promise Property.
The 2023 rock samples referred to in this news release were analyzed for gold (fire assay - AA) and for 34 elements (four acid digestion and ICP-OES analysis) by Eastern Analytical Ltd, which is independent of Great Atlantic. The 2023 exploration program at the Golden Promise Property was managed and supervised by a Qualified Person.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 - Office
Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company 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 currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
