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Great Atlantic completed second hole Fall 2020 Phase 2 drill program at its Golden Promise Property

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Hole GP20-147, completed at the Jaclyn North Zone, approximately 50 meters east of GP20-146, tested the continuation of gold bearing veins along its projected strike to the east.

Additional Information:

Company: Great Atlantic Resources
Website: http://www.GreatAtlanticResources.com
Stock Symbol: TSXV: GR
Date Published: Nov 24, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Great Atlantic Resources has completed the second hole of the Fall 2020 Phase 2 diamond drilling program at its Golden Promise Gold Property.

The Golden Promise Gold Property, located within the Exploits Subzone of the central Newfoundland gold belt, hosts multiple gold bearing quartz veins.

Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold at its Valentine Gold Project, Sokoman Minerals at its Moosehead Gold Project and New Found Gold at its Queensway Project.

Viewers are cautioned that mineralization at nearby projects are not necessarily indicative of mineralization on the Golden Promise Property.

Hole GP20-147, completed at the Jaclyn North Zone, approximately 50 meters east of GP20-146, tested the continuation of gold bearing veins along its projected strike to the east.

The drill is being moved approximately 150 meters east to the site of drill hole GP20-148 to further test the continuation of the Jaclyn North Zone vein system and test an area of numerous quartz vein boulders.

Boulder grab sample assays for 2017 samples within the area of planned drill hole GP20-148 included 163.9, 208.5 and 332.6 grams per tonne gold.

Visible gold was noted in a quartz boulder in this area during November prospecting.

GP20-147 intersected quartz veins up to 2.7 meters of core length and quartz veined intervals containing sulfide mineralization, extending the Jaclyn North Zone vein system approximately 100 meters further east.

Individual vein intersections in GP20-146, the first drill hole of the 2020 program, are up to 0.9-meters core length with visible gold in one 5-centimeter vein

Both holes intersected quartz veins with sulfide mineralization.

The Jaclyn Zone hosts five gold bearing quartz veins systems, being the Jaclyn Main, Jaclyn North, Jaclyn South, Jaclyn East and Jaclyn West Zones.

Assays are pending for these first two holes.

The company received a permit for 25 drill holes at the Jaclyn Zone which will be split between the Fall 2020 Phase 2 program and the 2021 Phase 3 drill program.

Great Atlantic recently confirmed a zone of gold soil geochemical anomalies in the southwest region of its Golden Promise Gold Property approximately 4 kilometers northeast of the Linda/Snow White gold bearing quartz vein system, where gold soil geochemical anomalies were initially identified during 2018 reconnaissance sampling.

The 2020 soil sampling further confirmed this zone of gold soil anomalies, which the company refers to as Gold Soil Anomaly 1.

The combined 2018 and 2020 soil samples identify an apparent north - south zone of gold soil anomalies being at least 500 meters long with an apparent width of approximately 90 to 200 meters.

22 of 28 samples within this anomalous zone returned anomalous values for gold of 5 parts per billion and greater, with half the samples within this anomalous zone returning 10 parts per billion and greater for gold while six samples returned 31 to 77 parts per billion gold.

Sampling to date indicates the anomalous zone to be open to the north and may continue to the southeast.

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 $0.65.

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 Megan Edwards for Investmentpitch Media