On October 2, 2024, Great Atlantic Resources Corp. (TSXV: GR) announced that its subsidiary, Golden Promise Mines Inc., has successfully completed the fourth and fifth holes of the diamond drilling program at the Golden Promise Gold Property in central Newfoundland. The diamond drilling program, fully funded, has identified quartz veins with visible gold in holes GP-24-160 and GP-24-161. The company plans to drill a total of eleven holes in 2024.
Both holes were drilled in the west region of the gold-bearing Jaclyn Main Zone (JMZ) where a bulk sample is planned. Drill hole GP-24-160 intersected two quartz veins with visible gold, while hole GP-24-161 also encountered two quartz veins with visible gold. The drilling program aims to target gold-bearing veins up to 100 meters in vertical depth.
Partnership with Novamera Inc. is enabling the implementation of Novamera’s Guidance Technology to enhance data collection and resource understanding. The project is also supported by DIGITAL, Canada’s Global Innovation Cluster for digital technologies. The drilling program, along with the planned bulk sampling, aims to optimize ore extraction using Novamera’s Surgical Mining technologies.
Previously in 2018, Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate for the JMZ. The company is focused on developing mineral assets in Atlantic Canada and known for its critical elements such as Gold, Copper, Zinc, Nickel, Cobalt, Antimony, and Tungsten.
The company emphasized that forward-looking statements are based on reasonable assumptions but are not guarantees of future performance, as results may vary based on factors like exploration successes, financing availability, and economic conditions.
Neither the TSX Venture Exchange nor its Regulation Services Provider has endorsed the accuracy of this release. For more information, please refer to the original press release by Great Atlantic Resources Corp. at https://www.newsfilecorp.com/release/225275.
