FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR FRA: PH02 Great Atlantic Drill Intersects 6.26 g/t Gold over 4.65 meters and 57.1 g/t Gold over 0.65 meters Jaclyn Main Zone Golden Promise Gold Project
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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
FRA: PH02
Great Atlantic Drill Intersects
6.26 g/t Gold over 4.65 meters and 57.1 g/t Gold over 0.65 meters
Jaclyn Main Zone
Golden Promise Gold Project
Central Newfoundland
VANCOUVER, British Columbia – May 1 6 2022 - GREAT ATLANTIC RESOURCES
CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has
received gold assays for drill core samples from the fifth drill hole (GP -21-153) of the 2021
diamond drilling program at its Golden Promise Gold Property, located within the central
Newfoundland gold belt. The hole was drilled at the Jaclyn Main Zone, located in the northern
region of the property. The hole intersected near-surface gold bearing quartz veins with visible
gold. Intercepts include 57.1 grams / tonne (g/t) gold over 0.65 meters core length and 6.26 g/t
gold over 4.65 meters core length.
Quartz Veins in GP-21-153 with Visible Gold (6.26 g/t gold over 4.65 meters core length)
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Hole GP-21-153 was drilled within the west region of the Jaclyn Main Zone (JMZ) which is part
of the Jaclyn Zone. The Jaclyn Zone contains multiple gold bearing quartz vein systems. The
western part of the JMZ gold bearing quartz vein system is reported to strike slightly northeast and
dip steeply to the southeast.
Drill hole GP-21-153 tested an area of multiple gold bearing veins within the JMZ. It was collared
approximately nine meters northwest of 2019 drill hole GP-19-140. Drill hole GP-19-140 (drilled
at a 75-degree dip slightly northwest) intersected multiple gold bearing quartz veins within a 25.2-
meter core length interval with a weighted average of 2.3 grams / tonne Au over 25.2 meters core
length (see the Company’s news release of February 12, 2020) . GP -21-153 was drilled at a n
approximate 82-degree dip slightly northwest to intersect the gold bearing vein system vertically
above the vein intercepts in hole GP-19-140.
GP-21-153 intersected multiple quartz veins, including veins with high grade gold. A quartz vein
intersected at 44.00-44.65 meters contains visible gold. A zone of predominantly quartz veining
was intersected at 66.90-74.49 meters with visible gold in three veins.
Significant intercepts (core length in meters) for GP-21-153 are listed in the following table:
From
(m) To (m) Length
(m) Au (g/t) Description
44.00 44.65 0.65 57.10 Quartz vein with visible gold and sulfides.
69.84 74.49 4.65 6.26
Quartz veins with visible gold and sulfides
and mudstone / greywacke host rock.
Including
69.84 70.76 0.92 19.26 Quartz vein with visible gold and sulfides.
70.76 71.48 0.72 0.45 Mudstone.
71.48 72.46 0.98 0.44
72.46 73.10 0.64 2.19 Quartz vein with visible gold and sulfides.
73.10 73.57 0.47 0.04 Greywacke.
73.57 74.49 0.92 10.03 Quartz vein with visible gold and sulfides.
The 2021 drilling program consisted of eight drill holes (848 total meters) at the Jaclyn Zone. Five
holes (GP-21-149 to GP-51-153) were completed at the JMZ while three holes (GP-21-154 to GP-
21-156) were completed at the J aclyn North Zone. The objective of drilling at the JMZ was to
further define the zone and provide information for an updated resource estimate of the JMZ. The
objective of drilling at the JNZ was to further test the gold bearing quartz vein system along the
projected strike east of historic drilling. The Company continued the drill hole numbering system
from previous drilling prog rams. Drill core from each hole was geologically logged and core
samples were cut at the Company’s secure facility in central Newfoundland.
Great Atlantic previously reported gold assays for drill holes GP-21-149 to GP-21-152 and holes
GP-21-154 to GP -21-156 (see the Company’s news releases of November 9 and December 3,
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2021, and February 14 and April 12, 2022). High grade gold was intersected in quartz veins in four
of these holes. Intercepts (core length) for these drill holes include:
• GP-21-149: 238.4 g/t gold over 0.40 meters (including visible gold).
• GP-21-150: 20.13 g/t gold over 0.50 meters and 75.58 g/t gold over 0.35 meters (including
visible gold in both veins).
• GP-21-151: 56.8 g/t gold over 0.75 meters (including visible gold).
• GP-21-156: 30.6 g/t gold over 0.41 meters (including visible gold).
Additional drilling is planned by the Company at the Jaclyn Zone during 2022.
The Company confirmed high -grade gold at the JMZ during its initial 2019 drillin g,
including near-surface intercepts (core length) of 113.07 g/t gold over 0.55 meters, 61.35 g/t
gold over 2.04 meters and 15.8 g/t gold over 2.70 meters plus the interval of multiple gold
bearing veins in GP -19-140 averaging 2.30 g/t gold over 25.25 meters (see the Company’s
news releases February 3, 12 and 19, 2020).
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The drilling intercepts (2019 and 2021 drill holes) reported in this news release are core lengths
and not true widths. Due to multiple reported quartz veins in th e west part of the J MZ, different
apparent vein orientations, and a slight reported change in the strike of the JMZ in this part of the
zone, more information is required to estimate the true thickness of these vein int ercepts. The
drilling programs were managed by a Qualified Person.
Great Atlantic reported a National Instrument 43 -101 compliant inferred resource estimate
during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold -
uncapped).
The drill core samples from the 2021 program were analyzed at Eastern Analytical Ltd. The
samples were assayed for gold by the Total Pulp Metallics method. This involves crushing of the
entire sample to -10 mesh and pulverizing to 95% -150 mesh. The total sample is then weighed
and screened 150 mesh. The +150 mesh fraction is fire assayed for gold, and a 30 gram sub-sample
of the -150 mesh fraction is fire assayed for gold. A calculated weighted average of total gold for
the sample is reported as well (the values reported in this news release for 2019 and 2021 drill core
samples). The samples were also analyzed for 34 elements (200-mg sub-samples totally dissolved
in four acids and analyzed by ICP -OES). Eastern Analytical Ltd., a certified laboratory, is
independent of Great Atlantic. Blank and standard samples were included in drill core sample
submissions to Eastern Analytical.
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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: Andrew Job 1-416-628-1560 IR @ GreatAtlanticResources.com
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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.
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 adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4