Great Atlantic Begins 2024 Exploration Program at its 100% Owned East Golden Promise Gold Property - Central Newfoundland
Great Atlantic Begins 2024 Exploration
Program at its 100% Owned East Golden
Promise Gold Property - Central Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) -
GREAT ATLANTIC RESOURCES
CORP. (TSXV: GR) (the "Company" or "Great Atlantic")
is pleased to announce it's wholly owned
subsidiary, Golden Promise Mines Inc., has begun the 2024 exploration program at its East Golden
Promise Gold Property. The property is located within central Newfoundland, east of the Company's
flagship Golden Promise Gold Property.
The work is being conducted in a new target area in which Great Atlantic identified gold soil
anomalies and anomalous levels of gold in rock samples during 2021-2022 work.
Exploration at East Golden Promise Gold Property
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The current program consists of prospecting and rock / soil geochemical sampling, being focused in a
new target area in the east region of the East Golden Promise Property. Soil samples will be collected in
an area of gold soil anomalies identified during 2022. Fifteen soil samples were collected during 2022
along an east-west traverse approximately 300 meters long.
Ten of the 2022 soil samples returned
anomalous gold values of 10 parts per billion (ppb) and higher, including 71 ppb gold and 137
ppb gold (see Company news Release of April 18, 2023).
The 2022 soil samples were analyzed by
Eastern Analytical Ltd. for gold by fire assay – AAS.
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Prospecting and rock geochemical sampling are underway in the east region of the property. This
includes the area of the gold soil anomalies discussed in the preceding paragraph.
Rock samples
collected in this area during 2022 returned anomalous gold values up to 0.084 parts per million
gold (84 ppb Au) from loose rock near bedrock
(see Company news release of December 7,
2022) while a 2021 rock sample collected from glacial float in this area returned 123 ppb gold
.
The 2021 and 2022 rock samples were analyzed for gold by fire assay – AAS (2021 samples by
Eastern Analytical Ltd. and 2022 samples by ALS Canada Ltd.). Both Eastern Analytical Ltd. and ALS
Canada Ltd. are independent of Great Atlantic and Golden Promise Mines Inc.
The objective of the 2024 program is to determine the extent of the gold anomalies and identify
trenching targets.
No diamond drill holes or trenches are reported in this target area.
The East Golden Promise Property is one of eight central Newfoundland gold properties owned by
Golden Promise Mines Inc. and located within the Exploits Subzone of the Newfoundland Dunnage Zone.
One of these gold properties (Golden Trust) is located within one kilometer of the Valentine
Gold Mine of Calibre Mining Corp. which is also located within the Exploits Subzone.
Readers
are warned that mineralization at the Valentine Gold Mine is not necessarily indicative of mineralization
at the East Golden Promise Property or any of the other central Newfoundland gold properties of Golden
Promise Mines Inc.
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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:
1-416-628-1560
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 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,
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 adequacy or accuracy of this
release.
Great Atlantic Resource Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
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