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    GR   CA3900873025


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Great Atlantic Completes Additional Ten Drill Holes on its 100% Owned Golden Promise Gold Property, Central Newfoundland

11/04/2021 | 09:13am EST

VANCOUVER - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the 'Company' or 'Great Atlantic') is pleased to announce it has completed the first ten holes of the 2021 diamond drilling program at the Otter Brook gold showing, located in the east region of its Golden Promise Gold Property.

The Golden Promise Property is located within the central Newfoundland gold belt.

Quartz and / or carbonate veins with semi-massive sulfides (pyrite +/- chalcopyrite) were intersected in four drill holes to date. Similar veins with lesser amounts of sulfide mineralization were intersected in all 10 holes to date. Drill core from the program is being logged and sampled by Great Atlantic personnel at a secure facility in central Newfoundland.

The drilling program is testing the Otter Brook gold showing down-dip and along its projected strike. Drilling is underway on the 11th drill hole and a 12th drill hole is planned for the current drilling program. Drill core samples were be submitted to a certified laboratory, being independent of Great Atlantic.

Great Atlantic collected gold bearing rock samples during 2020 at the Otter Brook gold showing from outcrop, subcrop and float. Eight of 11 rock samples collected during 2020 at this showing returned gold values in the 0.719 - 5.758 g/t range. An outcrop grab sample returned the highest value of 5.758 g/t gold.

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. (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 Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization on the golden Promise Property.


Mr. Christopher R. Anderson

Tel: 604-488-3900

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, Antimony, Tungsten and Gold.

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.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Sales 2021 - - -
Net income 2021 -2,26 M -1,80 M -1,80 M
Net cash 2021 1,24 M 0,98 M 0,98 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 6,64 M 5,30 M 5,27 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 67,4%
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Managers and Directors
Christopher Ross Anderson President, Chief Executive Officer & Director
Scott Kent Chief Financial Officer & Director
Allan J. Beaton Independent Director
Barry Brown Secretary
Dave Martin Senior Geologist
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