On October 11, 2024, Great Atlantic Resources Corp. (TSXV: GR) announced that its subsidiary, Golden Promise Mines Inc., has successfully completed the sixth hole of the 2024 diamond drilling program at the Golden Promise Gold Property in central Newfoundland. The drilling program is funded and aimed at exploring the west region of the gold-bearing Jaclyn Main Zone (JMZ), specifically targeting quartz veins.
The sixth hole, GP-24-162, discovered a quartz vein with visible gold, extending to a depth of 149.5 meters. This hole was strategically drilled slightly southeast of previous holes to test for the extension of the main quartz vein slightly deeper. Multiple drill holes from the program have revealed promising findings, with visible gold at various depths.
The drilling program at JMZ is a collaborative effort with Novamera Inc., utilizing their Guidance Technology to enhance data and resource knowledge for vein delineation. Furthermore, the drilling is part of a larger funded project supported by DIGITAL, aiming to enhance data-driven and digital solutions in the mining sector.
In addition to the drilling program, Great Atlantic Resources Corp. reported an inferred resource estimate for JMZ in late 2018, indicating significant gold potential. The Golden Promise Gold Property is part of a group of central Newfoundland properties owned by Golden Promise Mines Inc., strategically located within the Newfoundland Dunnage Zone.
Furthermore, the planned bulk sample extraction at the Golden Promise Property will utilize Novamera’s Surgical Mining technologies for precision mining at a reduced cost. The company aims to leverage these innovative methods to optimize ore extraction and resource utilization.
David Martin, P.Geo., a Qualified Person, and VP Exploration for Great Atlantic Resources Corp., is responsible for the technical information in this release. Christopher R. Anderson, President, CEO, and Director of the company, can be contacted for further information at the provided contact details.
Great Atlantic Resources Corp. is focused on exploring and developing mineral assets in Atlantic Canada, with a diverse portfolio of projects. The company is committed to advancing its projects with a focus on critical minerals such as gold, copper, zinc, and others found in Atlantic Canada.
Disclaimer: Forward-looking statements in this release are subject to inherent uncertainties and risks. Actual results may differ from those projected due to various factors, including exploration success, financing availability, and economic conditions. The TSX Venture Exchange does not endorse the content of this release.
For more information, please refer to the original press release available at the provided source link.
