VANCOUVER, BC / ACCESSWIRE / September 8, 2022 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has begun the 2022 exploration program at its 100% owned Golden Trust Project, located within central Newfoundland and 1.5 kilometers north of the Valentine Gold Project of Marathon Gold Corp (MOZ).
The program is focusing on areas of gold soil anomalies identified during the 2020 exploration program. Twenty-three of the 125 reconnaissance soil samples collected during 2020 within the property returned anomalous gold values (Company news release of January 27, 2021).
The 2022 program is being focused within the northern region of the property in areas of gold soil geochemical anomalies and the southern region of the property. The program consists of prospecting and rock geochemical sampling and soil geochemical sampling to further define gold soil geochemical anomalies and identify target areas for geophysical surveys and trenching and diamond drilling.
Twenty-three of the 2020 samples (approximately 18% of the samples) returned anomalous values of 6-52 parts per billion (ppb) gold of which eleven samples (approximately 9% of the samples) returned 11-52 ppb gold and 4 samples exceeded 20 ppb gold (24-52 ppb Au). The gold anomalies as identified by 2020 sampling occur as single sample anomalies and as clusters of anomalous samples. Highlights include:
- Sixteen of 50 samples (approx. 32% of the samples) along an approximate 1.3-kilometer section of a soil line returned 6-26 ppb gold with 6 samples returning 11-26 ppb gold.
- Three of six samples along an approximate 130-meter section of a soil line returned gold values of 14, 19 and 52 ppb.
- Scattered additional gold anomalies up to 28 ppb gold.
The 2020 soil samples were analyzed by Eastern Analytical Ltd. The soil samples were dried and sieved to -80 mesh. Subsamples of the sieved portions were analyzed for gold by fire assay - atomic absorption (AA) and for 34 elements by four acid - ICP-OES. Great Atlantic is independent of Eastern Analytical Ltd.
The Golden Trust Property is located 1.5 kilometers north of the Valentine Gold Project of Marathon Gold Corp. and approximately 44 km southwest of Great Atlantic's Golden Promise Property. The Golden Trust Property is located within the prospective Victoria Lake Supergroup which hosts numerous epigenetic gold & volcanogenic massive sulfide occurrences (including the Duck Pond base metal/precious metal deposit) and within the Exploits Subzone of the Dunnage Zone and east of a major (Appalachian-scale) collisional boundary, and suture zone.
Readers are warned that mineralization at the Valentine Gold Project, Golden Promise Property, Duck Pond Deposit and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization within the Golden Trust Property.
The property, totalling 2,400 hectares, occurs within an under-explored area of the Newfoundland central gold belt.
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 Resource Corp.
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https://www.accesswire.com/715137/Great-Atlantic-Begins-2022-Exploration-Program-at-Its-100-Onwed-Golden-Trust-Property-Central-Newfoundland
