Vancouver, British Columbia--(Newsfile Corp. - July 14, 2025) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has received bulk sample approval from the Newfoundland and Labrador Department of Industry, Energy and Technology for its Golden Promise Gold Property, located in central Newfoundland.
World's First - Custom Designed Directional Head for Bore Drill
now in Newfoundland and headed to the Jacklyn Zone target area for deployment
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_258518_0170ce43a4f8fa7d_002full.jpg
The approval is for extraction of a bulk sample up to 1000 cubic meters (up to approximately 2,700 tonnes) at the gold bearing Jaclyn Main Zone (JMZ), with equipment being moved on site this month and the commencement the bulk Sample extraction with the first production hole to start first week of September.
"With the landmark $2.6-billion Equinox-Calibre transaction (EQX & CXB) underscoring the growing strategic significance of Newfoundland's gold assets, we are tremendously encouraged to finally be advancing our 22,000-hectare land package through Great Atlantic's wholly owned subsidiary, Golden Promise Mines Inc.
"Situated just 1 kilometre from Calibre's flagship Valentine Gold Mine, and adjacent to their 24,000-hectare land holdings, our project is ideally located in one of the most dynamic and high-potential gold regions in the country.
"With the support of Digital Technology Supercluster Canada and our innovative partnership with Novamera Inc., we are now moving forward with the world's first precision mining initiative at the Jaclyn Main Zone. This positions Great Atlantic at the forefront of innovation in mining - and as a key player in the next wave of consolidation and value creation in this prolific, high-grade gold district," stated Mr. Anderson, CEO & President.
Bore Drill Crew Cabin from the Netherlands
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_0170ce43a4f8fa7d_003full.jpg
Equipment Assembly being completed in NFLD for deployment to Jacklyn
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_258518_0170ce43a4f8fa7d_004full.jpg
Extraction of the bulk sample at the JMZ is planned this year by Golden Promise Mines Inc. with partner Novamera Inc. using a precision mining method, powered by Novamera's full suite of Surgical MiningTM technologies. The transformative new mining method leverages hardware, software, AI and ML paired with conventional drilling equipment to extract ore at a fraction of the cost of conventional mining methods. Three large diameter drill holes are planned to extract the bulk sample.
Bulk Sample Target Area - Golden Promise
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_0170ce43a4f8fa7d_005full.jpg
The planned bulk sampling work at the JMZ will be funded in part by co-investment from DIGITAL, Canada's Global Innovation Cluster for digital technologies, as part of a larger project that aims to support data-driven and digital solutions within the mining sector. The Link to the announcement can be found here.
The bulk sample extraction is planned in the west region of the JMZ. Golden Promise Mines Inc. completed eight diamond drill holes during September - October of 2024 in the area of the planned bulk sample. All eight holes were drilled on the same northwest - southeast trend to intersect the steeply dipping, east to slightly northeast trending JMZ. The eight holes were designed to target the JMZ between surface and approximately 100 meters vertical depth. Half core samples from these veins included (core length) (see Company news releases of November 19th, 2024, December 4th, 2024, January 8th, 2025, January 14th, 2025, and January 20th, 2025):
- GP-24-157: 34.47 - 35.00 meters (0.53 meters): 34.879 grams / tonne (g/t) gold
- GP-24-158: 45.35 - 45.99 meters (0.64 meters): 12.968 g/t gold
- GP-24-160: 78.95 - 79.52 meters (0.57 meters): 19.121 g/t gold
- GP-24-161: 82.56 - 83.00 meters (0.44 meters): 120.89 g/t gold
- GP-24-161: 91.80 - 93.47 meters (1.67 meters): 13.16 g/t gold
- GP-24-162: 109.25 - 109.69 meters (0.44 meters): 60.206 g/t gold
- GP-24-163: 37.00 - 37.80 meters (0.80 meters): 28.023 g/t gold
- GP-24-164: 54.53 - 55.35 meters (0.82 meters): 42.708 g/t gold
- GP-24-164 64.13 - 64.65 meters (0.52 meters): 39.180 g/t gold
Three additional close-spaced diamond drill holes were completed during December 2024 and April 2025 in this area of the JMZ, the program managed by Novamera Inc. The three drill holes included the use of Novamera's proprietary Guidance Tool, providing increased data and resource knowledge to define the shape, geometry and continuity of the vein(s). These three steep holes were drilled approximately down - dip of the JMZ and are located in the area of the planned 2025 bulk sample. The Guidance Tool collects data within a 3-4 meters radius of the borehole to create a high-resolution 3D orebody model, which is then used to calculate the optimal drill trajectory for Surgical MiningTM.
Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 inferred ounces of gold - uncapped) (see Company News Release of December 6, 2018; and Sedar-filed National Instrument 43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo.).
Golden Promise Mines Inc. Gold Properties - Central Newfoundland
(Golden Promise and Adjacent Properties)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_0170ce43a4f8fa7d_006full.jpg
The Golden Promise Property is the largest and most advanced of six central Newfoundland gold properties owned by Golden Promise Mines Inc. and located within the Exploits Subzone of the Newfoundland Dunnage Zone. One of these properties (Golden Trust) is located within one kilometer of the Valentine Gold Mine of Calibre Mining Corp. 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 or any of the other central Newfoundland gold properties of Golden Promise Mines Inc.
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, approved 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
Investor Relations:
1-416-628-1560
IR@GreatAtlanticResources.com
Never miss an update!
Follow Great Atlantic Resources Corp. on social media for project updates, photos, and much more.
LINKEDIN: https://ca.linkedin.com/company/greatatlanticresources
X: https://x.com/GreatAtlRes
FACEBOOK: https://www.facebook.com/GreatAtlanticResources
INSTAGRAM: https://www.instagram.com/greatatlanticresources/
YOUTUBE: https://www.youtube.com/@GreatAtlanticTV/
TIKTOK: https://www.tiktok.com/@greatatlanticresources
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_0170ce43a4f8fa7d_007full.jpg
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.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3027/258518_0170ce43a4f8fa7d_008full.jpg
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/258518
SOURCE: Great Atlantic Resources Corp.
