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$GR.ca Great Atlantic Commissions National Instrument 43-101 Technical Report on Golden Promise Gold Property – Central Newfoundland Gold Belt $ANX.ca $MOZ.ca $LAB.ca

Posted by AGORACOM-Eric at 8:58 AM on Tuesday, October 30th, 2018

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  • Summaries of historic work and work by Great Atlantic within the property.
  • 43-101 – compliant mineral resource estimates for the Jaclyn Main Zone which will also include data from 2010 work (27 diamond drill holes) which was completed after the previous 2008 historic mineral resource estimates.

 

VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / October 30, 2018 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has commissioned Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Larry Pilgrim, B.Sc., P.Geo. to complete a National Instrument 43-101 Technical Report on the Company’s Golden Promise Gold Property, located in the central Newfoundland gold belt. The report will include the following:

  • Summaries of historic work and work by Great Atlantic within the property.
  • 43-101 – compliant mineral resource estimates for the Jaclyn Main Zone which will also include data from 2010 work (27 diamond drill holes) which was completed after the previous 2008 historic mineral resource estimates.
  • Make recommendations for future work.

The Property hosts multiple gold bearing quartz veins and is located in a region of recent significant gold discoveries. The Golden Promise Property is located approximately 40 kilometers west-southwest of the Moosehead Project of Sokoman Iron Corp. (TSXV.SIC) and approximately 55 kilometers northeast of the Valentine Lake Gold Camp of Marathon Gold Corp. (TSXV.MOZ) High grade gold is reported in quartz veins and quartz vein boulders within the Golden Promise Property.

Gold bearing quartz veins are reported in multiple areas of the Golden Promise Property, including at least 5 gold bearing quartz vein systems reported in one zone referred to as the Jaclyn Zone, located in the northern half of the Property. Much of the reported historical exploration at the Property has been focused on the Jaclyn Zone with gold bearing vein systems reported at the Jaclyn Main, Jaclyn East, Jaclyn West, Jaclyn North and Jaclyn South Sub-zones.

Gold Bearing Jaclyn West (Christopher) Vein

Most historic work was conducted at the Jaclyn Main Zone. Reported diamond drilling gold (Au) intercepts (core length and estimated true thickness in meters) at the Jaclyn Main Zone include:

  • GP02-01: 16.57 g/t Au over 2.55m core length (1.64 m estimated true thickness)
  • GP02-09: 7.05 g/t Au over 4.90 m core length (2.22 m estimated true thickness)
  • GP06-52: 93.71 g/t Au over 1.40 m core length (1.25 m estimated true thickness)
  • GP07-91: 141.21 g/t Au over 0.45 m core length (0.33 m estimated true thickness)
  • GP07-92: 10.41 g/t Au over 4.70 m core length (1.60 m estimated true thickness)

Gold recovery from a reported 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 g/t gold. The average tails grade for the sample was reported to be 1.12 g/t gold. A “back-calculated head grade of 5.59 g/t gold” was reported for the bulk sample.

Quartz float samples collected by the Company during 2017 in one target area (referred to as the Branden Zone) in the northern region of the Property returned 57.2 and 200 grams / tonne (g/t) gold (News Release of August 28, 2017). A 0.32 meter long chip sample collected across the Shawn’s Shot Vein by the Company in 2017 returned 48.2 g/t gold (news Release of August 28, 2017).

Significant recent gold discoveries in the central Newfoundland gold belt include that of Sokaman Iron Corp. and Marathon Gold Corp. Sokoman Iron Corp. recently announced a high grade gold discovery on its Moosehead Property, located approximately 40 kilometers east-northeast of the Golden Promise Property. The discovery was made during the 2018 diamond drilling program. A drill intersection of 44.96 g/t gold over 11.90 meter core length was reported including a 1.35 meter core length quartz vein intersection of 385.85 g/t gold (Sokoman Iron Corp. News Release of July 24, 2018). The Valentine Lake Gold Camp of Marathon Gold Corp. is located approximately 55 kilometers southwest of the Golden Promise Property. As reported on Marathon’s website, the Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totalling 2,137,100 oz. of gold at 1.99 g/t and inferred resources totalling 1,104,800 oz. of gold at 1.99 g/t.

Readers are warned that mineralization at the Moosehead Property and Valentine Lake Gold Camp is not necessarily indicative of mineralization on the Golden Promise Property.

Readers are warned that historical records for the Golden Promise Property referred to in this News Release have been examined but not verified by a Qualified Person. Further work is required to verify that historical records referred to in this News Release are accurate.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.

On Behalf of the board of directors

“Christopher R Anderson

Mr. Christopher R Anderson ” Always be positive, strive for solutions, and never give up ”
President CEO Director
604-488-3900
[email protected]

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