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Great Atlantic reports rock samples up to 3.1 gpt gold from SW Golden Promise in Newfoundland

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Great Atlantic Resources has released results for rock samples collected during a brief prospecting and rock sampling program in the fall of 2019, at the Southwest Golden Promise Property, located in the Central Newfoundland gold belt.

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Additional Information:

Company: Great Atlantic Resources
Website: http://www.GreatAtlanticResources.com
Stock Symbol: TSXV: GR
Date Published: May 8, 2020
Transcript: Available

Video Transcript:

I’m Fiona Forbes for Investmentpitch Media

Great Atlantic Resources has released results for rock samples collected during a brief prospecting and rock sampling program in the fall of 2019, at the Southwest Golden Promise Property, located in the Central Newfoundland gold belt.

The Southwest Golden Promise Property is centered approximately 4 kilometers west of the southern-most region of the company's Golden Promise Property.

Eight rock grab samples were collected during the program from outcrop and float, including quartz vein material and sedimentary and volcanic rocks with pyrite and quartz veins.

A sample of multiple pieces of quartz vein rubble at one location returned 3.14 grams per tonne gold.

Five additional samples returned anomalous values for gold in the 8 to 32 parts per billion range.

The 2019 program was conducted in an area of reported gold soil anomalies and reported gold bearing quartz float samples.

Historic highlights from work conducted in 2008 and 2009 in this area include:

• In 2008, an approximately 260-meter long northeast-southwest gold soil anomalous trend included one reported sample of 7.6 grams per tonne gold.

• In 2009, quartz float samples returning 6.78 & 2.44 grams per tonne gold within an anomalous soil trend.

• Visible gold was reported in historic panned soil samples.

The Golden Promise Property which hosts multiple gold bearing quartz veins, the most advanced being the Jaclyn Main Zone, remains the company's primary focus in the central Newfoundland gold belt.

The Jaclyn Zone is located within the northern region of the Golden Promise Property and has been the focus of multiple diamond drilling programs during 2002-2010 and a bulk sample program at the Jaclyn Main Zone during 2010.

Five gold bearing quartz vein systems are reported at the Jaclyn Zone, being the Jaclyn Main Zone, Jaclyn North Zone, Jaclyn West Zone, Jaclyn South Zone and Jaclyn East Zone.

Both the Golden Promise and Southwest Golden Promise properties are located within the Exploits Subzone of the Newfoundland Dunnage Zone.

Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane.

The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the Red Indian Line.

The Red Indian Line forms the western boundary of the Exploits Subzone.

The Golden Promise Gold Property hosts multiple gold bearing quartz veins and is located within a region of recent significant gold discoveries.

Recent significant gold discoveries in this region of the Exploits Subzone include those of Sokoman Minerals Corp. at the Moosehead Gold Project 40 kilometers to the east, and Marathon Gold Corp. at the Valentine Lake Gold Camp 55 kilometers to the southwest.

Viewers are warned that mineralization at the Moosehead Property and Valentine Lake Gold Camp is not necessarily indicative of mineralization on the Golden Promise Property.

Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.

The shares are trading at $0.445.

For more information, please visit the company’s website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900 or email office@GreatAtlanticResources.com.

I’m Fiona Forbes for Investmentpitch Media