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    GR   CA3900873025

GREAT ATLANTIC RESOURCES CORP.

(GR)
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Great Atlantic Resources : Receives Drilling Permit for the Otter Brook Gold Showing Located in its 100% Owned Golden Promise Gold Property, Central Newfoundland

09/01/2021 | 11:02am EDT

VANCOUVER - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the 'Company' or 'Great Atlantic') is pleased to announce it has received a permit from the Newfoundland and Labrador government for diamond drilling at its Golden Promise Gold Property specifically at the Otter Brook gold showing.

The permit is for a maximum of 12 drill holes at the Otter Brook gold showing which is located within the east region of the property. The Company is planning to mobilize a diamond drill to this area this month. The Golden Promise Property is located within the central Newfoundland gold belt.

Great Atlantic confirmed gold mineralization at the Otter Brook gold showing with rock samples returning up to 5.75 grams / tonne (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.

Contact:

Christopher R Anderson

Tel: 604-488-3900

Email: GreatAtlanticResources.com

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

Stocks mentioned in the article
ChangeLast1st jan.
GREAT ATLANTIC RESOURCES CORP. -5.88% 0.32 Delayed Quote.-59.49%
NEW FOUND GOLD CORP. 1.15% 10.57 Delayed Quote.156.27%
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Financials
Sales 2021 - - -
Net income 2021 -2,26 M -1,82 M -1,82 M
Net cash 2021 1,24 M 1,00 M 1,00 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 7,88 M 6,37 M 6,35 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 60,8%
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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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