Great Atlantic Resources samples 1.83 g/t gold at Golden Promise, Newfoundland

Great Atlantic Resources Corp. [GR-TSXV] reported additional analytical results for 2022 rock samples collected at its Golden Promise gold property, located in the central Newfoundland gold belt.

A sample from a quartz float boulder from a new target area returned 1.83 g/t gold. The boulder was located during 2022 reconnaissance prospecting and rock geochemical sampling. Great Atlantic previously identified gold soil anomalies and a boulder anomalous for gold during 2020 in this area.

The new target area is located within the northern region of the Golden Promise Property approximately 2 km west of the western part of the Jaclyn Zone. The Jaclyn Zone hosts multiple gold-bearing veins / vein systems including the Jaclyn Main Zone for which the Company reported a NI 43-101 compliant inferred mineral resource (119,900 ounces of gold – uncapped) during late 2018).

The new target area was initially identified during 2020 reconnaissance prospecting and rock – soil geochemical sampling. A sample from a quartz vein float boulder returned an anomalous value 0.128 g/t gold while two close-spaced soil samples returned anomalous values of 44 parts per billion (ppb) gold and 10 ppb gold. The 2022 work in this area consisted of prospecting and rock geochemical sampling. Quartz vein float were identified at multiple locations in this target area of which a sample from one quartz vein float boulder returned 1.83 g/t gold. The quartz vein boulders located during 2020 and 2022 within this target area occur within an area of approximately 900 metres by 400 metres.

Great Atlantic is planning additional work during the 2023 field season within this target area consisting of additional prospecting and rock – soil geochemical sampling to further define this target and define trenching targets.

The Golden Promise property is located within a region of recent significant gold discoveries. The property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Within the Exploits Subzone, the property lies along the north-northwestern fringe of the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane. The northwestern margin of the Golden Promise Property occurs proximal to, and, in part, contiguous with a major (Appalachian-scale) collisional boundary, and suture zone, known as the RIL.

The RIL forms the western boundary of the Exploits Subzone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. at the Queensway Project.

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