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    GR   CA3900873025

GREAT ATLANTIC RESOURCES CORP.

(GR)
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Great Atlantic Resources Corp. Completes Additional Ten Drill Holes on Its 100% Owned Golden Promise Gold Property Central Newfoundland

11/03/2021 | 08:06am EST

GREAT ATLANTIC RESOURCES CORP. announced it has completed the first ten holes (1,418 meters) 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. at the Valentine Gold Project, Sokoman Minerals Corp. at the Moosehead Gold Project and New Found Gold Corp. 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.


© S&P Capital IQ 2021
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Financials
Sales 2021 - - -
Net income 2021 -2,26 M -1,81 M -1,81 M
Net cash 2021 1,24 M 0,99 M 0,99 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 6,78 M 5,42 M 5,42 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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