The exploration program at the 100% owned Golden Trust Property in central Newfoundland has been initiated by Great Atlantic Resources Corp., through its wholly owned subsidiary, Golden Promise Mines Inc. This property is situated just 1 km north of the Valentine Gold Mine owned by Calibre Mining Corp. The focus of this program is on prospecting and rock-soil geochemical sampling, targeting areas identified with gold soil anomalies from previous exploration programs conducted in 2020 and 2022.
The 2024 program aims to expand prospecting and sampling activities to areas that have not been previously explored by the company. The primary objective is to define target areas for future gold exploration and to identify potential sources of gold soil anomalies within the property. The Golden Trust Property, spanning 2,400 hectares, is relatively under-explored, with no reports of diamond drilling within the area.
This region is located within the potential Victoria Lake Supergroup, known for hosting various epigenetic gold and volcanogenic massive sulfide occurrences. Moreover, it is situated within the Exploits Subzone of the Dunnage Zone, east of a significant collisional boundary and suture zone. Past government till samples in 2008 returned elevated to anomalous gold values in different regions of the property.
The soil samples from 2020 and 2022 were analyzed by Eastern Analytical Ltd., with results showing promising gold values. Great Atlantic Resources Corp. remains independent of the analysis company. This exploration program is supervised by a Qualified Person to ensure compliance with industry standards. David Martin, P.Geo., is the VP Exploration for Great Atlantic and is responsible for the technical information in this news release.
Great Atlantic Resources Corp. is a Canadian exploration company with a strong focus on Atlantic Canada’s rich mineral assets. Their business model relies on a Project Generation approach, prioritizing key elements found in the region, such as gold, copper, zinc, nickel, cobalt, antimony, and tungsten. The company continues to pursue its goals in exploration activities, while acknowledging the inherent risks associated with such endeavors.
This news release may contain forward-looking statements about the company’s future exploration plans and activities. While based on reasonable assumptions, actual outcomes may differ from those anticipated due to various factors such as exploration successes, financial availability, and overall market conditions. The TSX Venture Exchange neither supports nor vouches for the information presented in this release.
