Vancouver, British Columbia--(Newsfile Corp. - September 10, 2024) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has begun the 2024 exploration program at its 100% owned Golden Trust Property, located within central Newfoundland and 1 km north of the Valentine Gold Mine of Calibre Mining Corp. (TSX: CXB).
Gold Soil Anomalies: 2020 & 2022 Reconnaissance Sampling
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The 2024 program at Golden Trust consists of prospecting and rock - soil geochemical sampling. Work is planned in areas not previously explored by the Company and in areas of gold soil anomalies identified by the Company during 2020 and 2022 exploration programs.
Great Atlantic identified gold soil geochemical anomalies during 2020 and 2022 reconnaissance level soil sampling programs in multiple areas within the northern region of the Golden Trust Property. Analytical high values for these samples included 52 parts per billion (ppb) gold and 72 ppb gold, both samples within an approximately 350 meters long target area in the northwest region of the property (see Company news releases of January 27, 2021, and February 17, 2023).
The 2024 program will include prospecting and rock - soil geochemical sampling in the northern region of the property, the objectives to further define target areas for future gold exploration and locate sources of gold soil anomalies in this region of the property; and reconnaissance level prospecting and rock geochemical sampling +/- soil geochemical sampling to identify target areas in other regions of the property.
Great Atlantic Resources / Golden Promise Mines Inc. Central Newfoundland Gold Properties
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The Golden Trust Property (2,400 hectares) is relatively under-explored. Great Atlantic management have not found any reports of diamond drilling within the property.
Key points for the Golden Trust Property include:
Located 1 km north of the Valentine Gold Mine of Calibre Mining Corp. and approximately 44 km southwest of Great Atlantic's flagship Golden Promise Property.
Located within the prospective Victoria Lake Supergroup which hosts numerous epigenetic gold & volcanogenic massive sulfide occurrences
Located within the Exploits Subzone of the Dunnage Zone and east of a major (Appalachian-scale) collisional boundary, and suture zone.
Government till samples (2008) returned elevated to anomalous values for gold in various regions of the Golden Trust Property.
Readers are warned that mineralization at the Valentine Gold Mine and Golden Promise Property and elsewhere within the Exploits Subzone is not necessarily indicative of mineralization within the Golden Trust Property.
The 2020 and 2022 soil samples referred to in this news release were analyzed by Eastern Analytical Ltd. The samples 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 2020 and 2022 exploration programs at Golden Trust were supervised by a Qualified Peron.
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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222747
SOURCE: Great Atlantic Resources Corp.
