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    GR   CA3900873025


Delayed Bourse de Toronto  -  02:51 2022-06-29 pm EDT
0.0950 CAD   -5.00%
06/28Great Atlantic Resources Corp. Reports Earnings Results for the Full Year Ended February 28, 2022
06/28Great Atlantic Increases Financing to $816,500 and Submits for Closing
06/27Great Atlantic Resources Boosts Private Placement of Share Units to C$816,500
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Great Atlantic near Surface High Grade Gold in Quartz Vein 30.6 gt Gold over 0.41 Meters Drilling Program at the Jaclyn North Zone, Golden Promise, Central Newfoundland

04/13/2022 | 10:27am EDT

VANCOUVER - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the 'Company' or 'Great Atlantic') is pleased to announce it has received additional gold assays for the third drill hole and gold assays for the fourth hole (GP-21-152) and fifth to eighth holes of the 2021 diamond drilling program at its Golden Promise Gold Property.

Highlights from the recent gold assays include 4.02 grams / tonne (g/t) gold over 0.60 meters core length in GP-21-151 at the Jaclyn Main Zone and 30.6 g/t gold over 0.41 meters core length in GP-21-156 at the Jaclyn North Zone. Multiple gold bearing intervals occur in GP-21-151 based on these recent gold assays and previously reported gold assays. The Golden Promise Property is located within the central Newfoundland.

Drill hole GP-21-151 is a definition hole within the western area of the Jaclyn Main Zone (JMZ). Drill core gold assays confirm multiple gold bearing intervals in this hole. The recent gold assays include a 0.60-meter core length sample returning 4.02 g/t gold. The Company previously reported gold assays for initial drill samples from this hole including three drill core samples exceeding 5 g/t gold of which one 0.40-meter core length quartz vein sample with visible gold returned 101.4 g/t gold.

Gold assays were also received for drill core samples from drill holes GP-21-154 to GP-21-156, completed at the Jaclyn North Zone (JNZ). The holes were drilled east of historic pre-Great Atlantic drill holes to explore along the projected strike of the JNZ. Drill holes GP-21-154 and GP-21-155 both intersected near-surface quartz veined zones with anomalous gold. A 0.71-meter core length sample (20.41-21.12 meters) from a quartz veined zone in GP-21-154 returned an anomalous value of 0.142 g/t gold. A 0.56-meter core length sample (46.44-47.00 meters) from greywacke with quartz veins in GP-21-155 returned an anomalous value of 0.188 g/t gold.

Gold assays from drill hole GP-21-156 confirm near-surface anomalous and high-grade gold. A 0.74-meter core length sample (13.13-13.87 meters) returned 0.899 g/t gold. A 0.41-meter core length sample (22.11-22.52 meters) from a quartz vein with visible gold returned a high-grade assay of 30.6 g/t gold. Drill hole GP-21-156 was collared within a zone of abundant quartz vein float of which previous Great Atlantic float samples returned high grade gold values including four boulder samples exceeding 100 g/t gold. This northeast trending quartz boulder field is approximately 300 meters long.

Drill hole GP-20-148 was also drilled within the zone of gold bearing quartz vein boulders.

The 2021 drilling program consisted of eight drill holes (848 total meters) at the Jaclyn Zone, located in the northern region of the Golden Promise Property. Five holes (GP-21-149 to GP-51-153) were completed at the JMZ while three holes (GP-21-154 to GP-21-156) were completed at the JNZ. The objective of drilling at the JMZ was to further define the zone and provide information for an updated resource estimate of the JMZ. The objective of drilling at the JNZ was to further test the gold bearing quartz vein system along the projected strike east of historic drilling. The Company continued the drill hole numbering system from previous drilling programs. Drill core from each hole was geologically logged and core samples were cut at the Company's secure facility in central Newfoundland. Gold assays are still pending for drill core samples from hole GP-21-153.


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, 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.

(C) 2022 Electronic News Publishing, source ENP Newswire

06/28Great Atlantic Resources Corp. Reports Earnings Results for the Full Year Ended Februar..
06/28Great Atlantic Increases Financing to $816,500 and Submits for Closing
06/27Great Atlantic Resources Boosts Private Placement of Share Units to C$816,500
06/16GREAT ATLANTIC RESOURCES : Announces Financing
06/16Great Atlantic Resources Raising C$0.5 Million in a Private Placement of Share Units
06/16Great Atlantic Resources Corp. announced that it expects to receive CAD 0.5 million in ..
06/08Great Atlantic Prospecting and Rock Sampling Program Underway, 100% Owned Golden Promis..
06/07Great Atlantic Resources Corp. Announces It Has Begun the 2022 Prospecting and Rock Geo..
06/01Great Atlantic Maiden Drilling Program at Otter Brook Gold Showing Intersects 4.95 GT G..
06/01Great Atlantic Resources Releases Gold Assays for Drill Core Samples from Its Fall 2021..
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Sales 2021 - - -
Net income 2021 -2,26 M -1,76 M -1,76 M
Net cash 2021 1,24 M 0,96 M 0,96 M
P/E ratio 2021 -2,68x
Yield 2021 -
Capitalization 2,68 M 2,08 M 2,08 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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