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Great Atlantic Resources (TSXV:GR) makes a $175,000 payment for its Golden Promise Gold Property

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The Golden Promise Gold Property, with a paved provincial highway transecting the property, is located in central Newfoundland in a region of recent significant gold discoveries.

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Additional Information:

Company: Great Atlantic Resources
Website: http://www.greatatlanticresources.com.
Stock Symbol: TSXV: GR
Date Published: Sep 14, 2018
Transcript: Available

Video Transcript:

I’m Erica James for Investmentpitch Media

Great Atlantic Resources has made a $125,000 cash payment for its Golden Promise Gold Property, along with a $50,000 share payment totalling 666,667 shares at $.075 per share.

The Golden Promise Gold Property, with a paved provincial highway transecting the property, is located in central Newfoundland in a region of recent significant gold discoveries.

It is located approximately 40 kilometers west-southwest of the Moosehead Project of Sokoman Iron Corp. (TSXV.SIC)

Sokoman recently announced a high grade gold discovery made during the 2018 diamond drilling program.

A drill intersection of 44.96 grams per tonne gold over a 11.90 meter core length was reported including a 1.35 meter core length quartz vein intersection of 385.85 grams per tonne gold

The Valentine Lake Gold Camp of Marathon Gold Corp. (TSXV.MOZ) is located approximately 55 kilometers to the southwest.

As reported on Marathon’s website, the Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained deposits, with measured and indicated resources totalling 2.1 million ounces of gold at 1.99 grams per tonne and inferred resources totalling 1.1 million ounces of gold at 1.99 grams per tonne.

Gold bearing quartz veins are reported in multiple areas of the Golden Promise Property, including at least 5 gold- bearing quartz vein systems reported in one zone referred to as the Jaclyn Zone.

The company recently completed exploration in other select areas, with assays pending for 2018 rock and soil samples.

Quartz float samples collected by the company during 2017 at the Branden Zone in the northern region of the Property returned 57.2 and 200 grams per tonne gold.

A 0.32 meter long chip sample collected in 2017 across the Shawn’s Shot Vein returned 48.2 grams per tonne.

Much of the reported historical exploration at the Golden Promise Property has been focused on the Jaclyn Zone in the northern half of the Property, with gold bearing vein systems reported at the Jaclyn Main, Jaclyn East, Jaclyn West, Jaclyn North and Jaclyn South Sub-zones.

Most historic work was conducted at the Jaclyn Main Zone with some of the reported diamond drilling gold intercepts shown in this table.

Gold recovery from a reported 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 grams per tonne gold.

The average tails grade for the sample was reported to be 1.12 grams per tonne gold.

A “back-calculated head grade of 5.59 grams per tonne gold” was reported for the bulk sample.

Viewers are warned that mineralization at the Moosehead Property and Valentine Lake Gold Camp are not necessarily indicative of mineralization on the Golden Promise Property, and that historical records for the Golden Promise Property have been examined but not verified by a Qualified Person.

The shares are trading at $0.055.

For more information, please visit the company’s website www.greatatlanticresources.com.

Investor Relations is handled by Kaye Wynn Consulting Inc. They can be reached at either 604-558-2630 or 888-280-8128, or email info@kayewynn.com.
I’m Erica James for Investmentpitch Media