Great Atlantic Discovers Large New Gold Zone at Golden Promise Gold Project Central Newfoundland

Great Atlantic Discovers Large New Gold Zone at Golden Promise Gold Project Central Newfoundland
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VANCOUVER – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce it has received the first analytical results from the 2018 exploration program at its Golden Promise Gold Project, located approximately 55 kilometers northeast of the Valentine Lake Gold Camp of Marathon Gold Corporation (MOZ.v) and 40 Km west of Moose Head project of Sokoman Iron Corp (SIC.v), Central Newfoundland.

Highlights:

  • Soil sample assayed as high as 77 PPB Gold.
  • 570 Meter soil line, all samples anomalous for Gold.
  • Brand new target area, never been drilled.
  • Located four Km east from Linda – Snow White Vein multiple drill intercepts, including one of 19.5 G/t Gold over 1.15 meters.
  •  20 Km west from the Jacklyn Main Vein multiple drill intercepts, including one of 93.7 G/T Gold over 1.4 meters.

The results include anomalous gold in soil samples from a new target area in the southwest region of the Project. The majority of soil samples from two reconnaissance sample lines in this target area returned anomalous values for gold, including all 11 samples from one approximately 570 meter long line. The 2018 exploration program is ongoing with assays pending for additional soil and rock samples.  Great Atlantic recently completed a program of prospecting and rock – soil geochemical sampling at the Golden Promise Gold Project targeting multiple areas. Gold bearing quartz veins are reported within Project, including at least 4 gold bearing quartz vein systems reported in one zone referred to as the Jaclyn Zone located in the northern region of the Project; the Shawn’s Shot vein in the central region; and the gold bearing  Linda – Snow White vein system in the southwest region of the Project. High grade gold is reported at each of these veins – vein systems. Gold bearing boulders are reported at the Jaclyn Zone and at other locations in the project, including high grade boulders sampled by the Company during 2017 in the northern region of the project. The Company explored other select areas for additional gold bearing quartz veins. These include areas of gold bearing float identified by the Company in 2017, soil geochemical anomalies identified by the Company in 2017, and favourable areas based on reported bedrock geology and reported historical airborne geophysical data.

The first 2018 analytical results included numerous anomalous soil samples from one area in the southwest region of the project, confirming a new target area. The majority of samples from two northwest-trending reconnaissance soil lines in this new target area returned anomalous values for gold. Eight of nine soil samples along  an approximate 430 meter section from the northern most sample line returned anomalous values of 5 -77 parts per billion (ppb) gold with four samples in the 10 – 77 ppb range. The second soil line is located approximately 250 meters southwest of and parallel to the first soil line. All 11 samples along this approximately 570 meter long line returned anomalous values for gold in the 5-15 ppb gold range with five samples in the 11-15 ppb gold range.  A Qualified Person collected the samples and delivered the samples to Eastern Analytical in Springdale, Newfoundland. The gold analysis at Eastern Analytical was by Fire Assay – Atomic Absorption. Lab-inserted blank and standard samples were also analyzed. The Company is planning focussed prospecting in this new target area.

The newly discovered zone of gold soil anomalies is located approximately 4 kilometers northeast of the Linda – Snow White gold bearing vein system, also located in the southwest region of the Golden Promise Project. The Linda – Snow White gold bearing quartz vein system is reported to be up to 5 meters wide and exposed over a northeast-southwest strike length of 170 meters. Historic reported sampling of this vein system include a grab sample returning 232 grams / tonne (g/t) gold; best channel sample of 29.7 g/t gold over 0.5 meters across the vein; and best diamond drill core sample of 19.5 g/t gold over 1.15 meter core length.

The Company is continuing prospecting and rock – geochemical sampling at the Golden Promise Gold Project. Additional rock and soil samples have been submitted to Eastern Analytical for analysis. These include rock samples from outcrop and boulders containing quartz veining.

Much of the reported historical exploration at the Golden Promise Project has been focused on the Jaclyn Zone in the northern half of the project, with gold bearing vein systems reported at Jaclyn Main, Jaclyn East, Jaclyn West, Jaclyn North and Jaclyn South Sub-zones. Most historic work was conducted at the Jaclyn Main Zone. Reported diamond drilling intercepts (meters) at the Jaclyn Main Zone include:

  • GP02-01: 16.57 g/t Au over 2.55 m core length(1.64 m estimated true thickness)
  • GP02-09: 7.05 g/t Au over 4.90 m core length (2.22 m estimated true thickness)
  • GP06-52: 93.71 g/t Au over 1.40 m core length (1.25 m estimated true thickness)
  • GP07-91: 141.21 g/t Au over 0.45 m core length (0.33 m estimated true thickness)
  • GP07-92: 10.41 g/t Au over 4.70 m core length (1.60 m estimated true thickness)

Gold recovery from a reported 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 g/t Au. The average tails grade for the sample was reported to be 1.12 g/t Au. A “back-calculated head grade of 5.59 g/t Au” was reported for the bulk sample.

Access to the Golden Promise Gold Project is excellent with the Trans Canada Highway within 1 kilometer of the project, a paved provincial highway transecting the project and multiple gravel – dirt roads accessing various regions of the property.

Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic Resources, is responsible for the technical information contained in this News Release.

Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

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