August 15, 2024 9:00 AM EDT | Source: Great Atlantic Resources Corp.
Vancouver, British Columbia–(Newsfile Corp. – August 15, 2024) – Great Atlantic Resources Corp. (TSXV: GR) is pleased to announce that its wholly-owned subsidiary, Golden Promise Mines Inc., has initiated the 2024 exploration program at the East Golden Promise Gold Property situated in central Newfoundland, east of the Company’s flagship Golden Promise Gold Property.
The exploration work is centered on a new target area where Great Atlantic has identified gold soil anomalies and anomalous levels of gold in rock samples from previous work conducted in 2021-2022.
Exploration at the East Golden Promise Gold Property
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The current program includes prospecting and rock/soil geochemical sampling in a new target area within the East Golden Promise Property where soil samples will be collected based on gold soil anomalies noted in previous years. In 2022, fifteen soil samples were collected, with ten of them returning anomalous gold values of 10 parts per billion (ppb) and higher, including values of 71 ppb gold and 137 ppb gold (as reported in the Company news release of April 18, 2023). The soil samples were analyzed for gold by fire assay – AAS at Eastern Analytical Ltd.
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Rock geochemical sampling and prospecting are also underway in the east region of the property, focusing on the area with the identified gold soil anomalies. Previous rock samples collected in this area have returned anomalous gold values up to 84 ppb Au in 2022 and 123 ppb gold in 2021. The rock samples were analyzed for gold by fire assay – AAS by independent laboratories, and the objective of the 2024 program is to further delineate the gold anomalies and identify potential trenching targets.
The East Golden Promise Property is one of eight gold properties under Golden Promise Mines Inc. in central Newfoundland, located within the Exploits Subzone of the Newfoundland Dunnage Zone. The Company cautions readers that mineralization at the neighboring Valentine Gold Mine does not necessarily indicate similar mineralization at the East Golden Promise Property or other properties owned by Golden Promise Mines Inc.
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David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador) and VP Exploration for Great Atlantic, is the Qualified Person responsible for the technical information in this News Release.
On Behalf of the board of directors
“Christopher R Anderson“
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on mineral asset discovery and development in the resource-rich region of Atlantic Canada. The company follows a Project Generation model with a focus on critical elements such as Gold, Copper, Zinc, Nickel, Cobalt, Antimony, and Tungsten found in Atlantic Canada.
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This press release may contain forward-looking statements. While the Company believes these statements are based on reasonable assumptions, actual results may differ due to various factors including exploration successes, financing availability, and economic conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider 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/219978
