Great Atlantic (TSXV:GR) (FSE:PH02) begins 2022 exploration program at its 100% owned Golden trust Property in Central Newfoundland. The Golden Trust property is located within the prospective Victoria Lake Supergroup, which hosts numerous epigenetic gold and volcanogenic massive sulphide occurrences, including the Duck Pond base metal/precious metal deposit.
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Great Atlantic Resources (TSXV:GR) (FSE:PH02) has begun its 2022 exploration program at its 100% owned Golden Trust Project, located within central Newfoundland.
The Golden Trust property is located within the prospective Victoria Lake Supergroup, which hosts numerous epigenetic gold and volcanogenic massive sulphide occurrences, including the Duck Pond base metal/precious metal deposit.
Although Golden Trust is located within the Exploits Subzone of the Dunnage Zone and east of the major Appalachian-scale collisional boundary and suture zone, management cautions that mineralization at the Valentine Gold Project, Duck Pond Deposit, Great Atlantic’s Golden Promise Property and elsewhere within the Exploits Subzone, is not necessarily indicative of mineralization within the Golden Trust Property.
The 2,400-hectare Golden Trust Property, which occurs within an under-explored area of the Newfoundland central gold belt, is one of the company’s eight properties, which cover a total area of 25,700 hectares within the central Newfoundland gold belt.
It is located 1.5 kilometers north of Marathon Gold’s Valentine Gold Project, and approximately 44 kilometers southwest of the company’s Golden Promise Property.
During the last quarter of 2018, Great Atlantic reported a NI 43-101 compliant inferred resource estimate of 357,000 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped at the Jaclyn Main Zone of the Golden Promise Property.
23 of the 125 samples collected in 2020, or approximately 18%, returned anomalous values of 6-52 ppb gold of which 11 samples, or approximately 9%, returned 11 to 52 ppb gold with 4 samples exceeding 20 ppb gold.
The gold anomalies identified by 2020 sampling occur as single sample anomalies and as clusters of anomalous samples.
16 of 50 samples along an approximate 1.3-kilometer section of a soil line returned 6 to 26 ppb Au with 6 samples returning 11 to 26 ppb Au.
3 of six samples along an approximate 130-meter section of a soil line returned gold values of 14, 19 and 52 ppb.
Additional scattered gold anomalies returned up to 28 ppb gold.
The 2022 program, focusing within the northern region of the property in areas of gold soil geochemical anomalies and the southern region of the property, will consist of prospecting and rock geochemical sampling and soil geochemical sampling to further define gold soil geochemical anomalies and identify target areas for geophysical surveys and trenching and diamond drilling.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
The shares are trading at $0.07.
For more information, please visit the company’s website www.GreatAtlanticResources.com, contact Christopher R. Anderson, President & CEO, at 604-488-3900.
For Investor Relations call 416-628-1560 or email IR@GreatAtlanticResources.com.
