Focused ON Exploring Atlantic Canada Tsx.v: GR Fra: PH02 Great Atlantic Conducts 2022 Exploration Programs at Six 100% Owned GOLD Properties IN Central Newfoundland
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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
FRA: PH02
GREAT ATLANTIC CONDUCTS 2022 EXPLORATION PROGRAMS
AT SIX 100% OWNED GOLD PROPERTIES IN CENTRAL NEWFOUNDLAND
VANCOUVER, British Columbia , September 21, 2022 – GREAT ATLANTIC
RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is p leased to
announce it is currently conducting gold exploration consisting of prospecting and rock
geochemical sampling at six properties in central Newfoundland adjacent to and in close
proximity to the Company’s flagship Golden Promise Gold Property. The mineral licences occur
east, west, south, and southwest of the Golden Promise Property. Anomalous gold in soil and /
or rock samples is reported within and / or adjacent to these mineral properties.
The six properties currently being explored are the Southwest Golden Promise, South Golden
Promise, West Golden Promise, East Golden Promise, Lynx and Coronation. All except the
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Southwest Golden Promise Property consist of one mineral licence each. The Southwest Golden
Promise Property consists of two mineral licences. The 2022 program s include prospecting and
rock geochemical sampling in target areas within the six properties. The Company is also
conducting exploration further southwest of these properties at the Golden Trust Property (see
Company news release of September 8, 2022)
Company management have identified target areas within these six properties based on its
previous work, reported mineral occurrences (Newfoundland and Labrador Department of
Industry, Energy and Technology, Mineral Occurrence Database) and / or Assessment Reports
on file with the Newfoundland and Labrador Department of Industry, Energy and Technology.
The Southwest Golden Promise Property consisting of Licences 026930M and 030870M (1,750
hectares) is located adjacent to the southwest region of the Golden Promise Property. Initial
2019 prospecting by Great Atlantic located gold bearing quartz vein rubble (possible subcrop).
A sample from multiple piec es of quartz vein rubble at one location returned 3.14 grams /
tonne (g/t) gold identifying a target area (see Company news release of May 7, 2020).
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The Lynx Property - Licence 031209M (1,525 hectares) is located approximately 12 kilometers
east of the n orthern region of the Golden Promise Property. The property cover s the area of a
reported high-grade gold bearing rock sample , reported gold soil geochemical anomalies and a
reported pyrite-gold mineral occurrence. Reported historic highlights include:
• A 2004 quartz float sample from the central region of the property was reported to
return 17 g/t gold, 52 g/t silver , 1.74% copper and >1% antimony (Copeland and
Newport, 2005).
• The Lynx Pond pyrite -gold mineral occurrence is reported in the southern region of
the property.
The Coronation Property - Licence 031208M (500 hectares) is located approximately 14
kilometers east of the southern region of the Golden Promise Property. The property cover s
reported gold soil geochemical anomalies and two reported gold-silver-molybdenum-copper
mineral occurrences. Reported historic highlights include:
• Two gold-silver-molybdenum-copper mineral occurrences are reported within the
property, the Coronation Lake South #1 and Coronation Lake South #2 occurrences.
• A 1975 diamond drill hole was reported to intersect 0. 025 ounce / ton gold over 3 feet
core length (Dimmell, 1975).
• A 1975 float sample was reported to return 0.65% copper, 0.25% molybdenum and
0.015 ounce / ton gold (Dimmell, 1975).
• Three 2005 soil samples were reported to return highly anomalous values of 0.43 parts
per million ( ppm) gold, 0.152 ppm gold and 0.112 ppm gold (Copeland and Newport,
2005).
The East Golden Promise – Licence 031210M
(1,125 hectares) s located adjacent to the east
region of the Golden Promise Property. The
property covers areas of reported gold bearing
rock samples. These include two float samples
reported to return 0.40 and 0.41 g/t gold
(Copeland and Newport, 2005).
The West Golden Promise Property - Licence
031549M (1,425 hectares) is located adjacent to
the west ern region of the Golden Promise
Property. A 2005 soil sample collected within
100 meters of the east boundary of the property
was reported to return a highly anomalous
value of 0.559 ppm gold (Sparkes, 2006).
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The South Golden Promise Property - Licence 031552M (450 hectares) is located adjacent to
the south region of the Golden Promise Property. A 2008 soil sample reported approximately
113 meters north of the property (in the Company’s Golden Promise Property) was reported to
return a highly anomalous value of 0.388 ppm gold (Morgan, 2008).
The Company’s central Newfoundland gold properties are located within the Exploits Subzone
of the Newfoundland Dunnage Zone. Recent significant gold discoveries within the Exploits
Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project,
Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold
Corp. (TSXV.NFG) at the Queensw ay Project. Readers are warned that mineralization at the
Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily
indicative of mineralization on Great Atlantic’s gold properties in this region.
David Martin, P.Geo. (New Brunswick and Newfoundland and Labrador) , a Qualified Person as
defined by NI 43 -101 and VP Exploration for Great Atlantic, is responsible for the technical
information contained in this News Release.
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com
About Great Atlantic Resources Corp.: 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 Atla ntic 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, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
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This press release includes certain statements that may be deemed “forward -looking statements”.
All statements in this release, other than statements of historical facts, that address future
exploration drilling, exploration activities and events or developments that the Company expects,
are forward looking statements. Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ materially from
those in forward -looking statements. Factors that could cause actual results to differ materially
from those in forward -looking statements include exploitation and exploration successes,
continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adeq uacy or accuracy
of this release.
Great Atlantic Resource Corp.
888 Dunsmuir Street - Suite 888,
Vancouver, B.C., V6C 3K4