Great Atlantic Resumes 2024 Diamond Drilling Program at Jaclyn Main Zone, 100% Owned Golden Promise Gold Property - Central Newfoundland
Great Atlantic Resumes 2024 Diamond Drilling
Program at Jaclyn Main Zone, 100% Owned
Golden Promise Gold Property - Central
Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - December 10, 2024) -
GREAT ATLANTIC
RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic")
is pleased to announce its
wholly owned subsidiary, Golden Promise Mines Inc., has resumed the 2024 diamond drilling program at
its Golden Promise Gold Property,
partnering with Novamera Inc.
The property is located in central
Newfoundland.
Novamera crew on site - 2024 JMZ Drill Program
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This drill phase will utilize Novamera's proprietary Guidance Tool. The fully funded 2024 drill
program is being conducted at the gold bearing Jaclyn Main Zone (JMZ) in the area of a planned
bulk sample.
Eight drill holes were completed previously during the 2024 drill program.
Diamon Drilling Rig at JMZ, Golden Promise Gold Property
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Diamond drilling is currently underway with three additional holes planned. Novamera's
proprietary Guidance Tool will be used in each hole to provide increased data and orebody
knowledge to define the vein's shape, geometry, and continuity.
The 2024 diamond drill program is
being conducted in the west region of the JMZ in the area of a planned bulk sample, which is also fully
funded.
Eight drill holes (GP-24-157 to GP-24-164) have been completed to date during 2024
, seven of which
intersected quartz veins with visible gold. Analytical results for drill core samples received to
date for three holes have confirmed high grade gold including the following intercepts
(core
length) (see Company News Releases of November 19 and December 4, 2024):
GP-24-157: 34.47 - 35.00 meters (0.53 meters): 34.87 grams / tonne (g/t) gold
GP-24-158: 45.35 - 45.99 meters (0.64 meters): 12.96 g/t gold
GP-24-160: 52.19 - 52.43 meters (0.24 meters): 14.76 g/t gold
and
78.95 - 79.52 meters (0.57 meters): 19.12 g/t gold
Whereas the first eight holes of the 2024 drill program were drilled to crosscut the steeply dipping, east
to slightly northeast trending JMZ,
the three remaining, close-spaced 2024 holes will be steep holes
being drilled approximately down-dip of the JMZ quartz vein(s) in the area of the planned bulk
sample. This drill phase is being managed by Novamera Inc.
Novamera's proprietary Guidance Tool will be used in these three steep down-dip drill holes to
collect subsurface data to define the geometry of the JMZ vein (s). The Guidance Tool collects
data within a 3-4 meter radius of the borehole to create a high-resolution 3D orebody model,
which is then used to calculate the optimal drill trajectory for Surgical Mining
TM
.
Visible Gold in quartz vein (GP-24-160)
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The 2024 diamond drilling and subsequent planned bulk sample work at the JMZ is being
funded in part by co-investment from DIGITAL, Canada's Global Innovation Cluster for digital
technologies, as part of a larger project that aims to support data-driven and digital solutions
within the mining sector.
The link to the announcement can be found
here
.
The planned approximately 2700 tonne bulk sample at the JMZ is to be extracted after diamond
drilling and bulk sampling approval using a precision mining method, powered by Novamera's
full suite of Surgical Mining
TM
technologies. The transformative new mining method leverages
hardware, software, AI and ML paired with conventional drilling equipment to extract ore at a
fraction of the cost of conventional mining methods.
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)
(see Company News Release of December 6, 2018; and Sedar-filed National Instrument
43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated
December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo.).
The Golden Promise Property is the largest and most advanced of seven central Newfoundland gold
properties owned by Golden Promise Mines Inc. and located within the Exploits Subzone of the
Newfoundland Dunnage Zone.
One of these 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 Golden Promise Property or any of the other central
Newfoundland gold properties of Golden Promise Mines Inc.
Golden Promise Mines Inc. Gold Properties - Central Newfoundland
(Golden Promise and Adjacent Properties)
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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
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.
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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