Exploration Program Begins at East Golden Promise Gold Property
VANCOUVER, British Columbia – August 15, 2024 (Investorideas.com Newswire) GREAT ATLANTIC RESOURCES CORP. (TSXV:GR; FRA: PH02) (the “Company” or “Great Atlantic”) is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has started the 2024 exploration program at its East Golden Promise Gold Property in central Newfoundland.
The work is targeting a new area where gold soil anomalies and anomalous levels of gold in rock samples were identified during previous work conducted in 2021-2022.
The current program includes prospecting and rock/soil geochemical sampling in a new target area in the east region of the property. Previous soil samples collected in 2022 showed anomalous gold values, with some samples returning values of 10 parts per billion (ppb) and higher, including 71 ppb gold and 137 ppb gold.
Insight:
The focus on this new target area suggests a potential for significant mineralization in this region, further emphasizing the exploration potential of the East Golden Promise Gold Property.
Rock Sampling and Geochemical Analysis
Prospecting and rock geochemical sampling are also underway in the east region of the property. Rock samples collected in 2022 revealed anomalous gold values up to 0.084 parts per million gold (84 ppb Au) from loose rock near bedrock, with previous samples from 2021 returning values up to 123 ppb gold.
2024 Exploration Objectives
The primary objective of the 2024 program is to delineate the extent of the gold anomalies and identify potential trenching targets. While no diamond drill holes or trenches have been reported yet, the focus on sampling and prospecting indicates a systematic approach to exploration.
Regional Context
The East Golden Promise Property is part of Golden Promise Mines Inc.’s portfolio of central Newfoundland gold properties located within the Exploits Subzone of the Newfoundland Dunnage Zone. The proximity of one of these properties to the Valentine Gold Mine of Calibre Mining Corp. highlights the strategic positioning of Golden Promise Mines Inc. within a known mineralization belt.
David Martin, P.Geo., VP Exploration for Great Atlantic, is overseeing the technical aspects of the exploration program, ensuring compliance with industry standards and regulations.
On Behalf of the board of directors
“Christopher R Anderson“
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com
About Great Atlantic Resources Corp.:
Great Atlantic Resources Corp. is a Canadian exploration company focused on mineral assets in Atlantic Canada, specializing in gold, copper, zinc, nickel, cobalt, antimony, and tungsten.
The Company’s forward-looking approach and emphasis on critical mineral elements underscore its commitment to exploring and developing resources in Atlantic Canada.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp.
888 Dunsmuir Street – Suite 888, Vancouver, B.C., V6C 3K4
Disclaimer/Disclosure: This news release contains forward-looking statements that reflect the Company’s exploration activities and expectations. Actual results may vary due to various factors, including exploration success, financing availability, and market conditions.
Investment Potential:
The systematic exploration approach and identification of gold anomalies in the East Golden Promise Property indicate a high potential for significant mineral resource discovery. Investors interested in gold exploration opportunities in Atlantic Canada may find Great Atlantic Resources Corp. a promising investment option.
Keep an eye on the Company’s progress and exploration results as they could have a positive impact on its stock performance in the future.
Overall, the Company’s focus on critical mineral elements and its strategic positioning in mineral-rich regions of Atlantic Canada bode well for its long-term growth and success in the mining sector.
