Posted by AGORACOM
at 12:20 PM on Friday, March 1st, 2019
Acquired the Golden Trust Property through staking
1 kilometer north of the Valentine Lake Gold Camp of Marathon Gold Corp.
Golden Trust Property covers an area of 2,400 hectares in a relatively under-explored area of the central Newfoundland gold belt
VANCOUVER, BC / ACCESSWIRE / March 1, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the “Company” or “Great Atlantic”) is pleased to announce it has acquired, through staking, the Golden Trust Property, located in the central Newfoundland gold belt and 1 kilometer north of the Valentine Lake Gold Camp of Marathon Gold Corp. has acquired, through staking, the Golden Trust Property (TSXV:MOZ). The Golden Trust Property covers an area of 2,400 hectares in a relatively under-explored area of the central Newfoundland gold belt. Key points for the Golden Trust Property include:
Located
1 km north of the Valentine Lake Gold Camp of Marathon Gold Corp.,
approximately 44 km southwest of Great Atlantic’s Golden Promise
Property and approximately 31 km southwest of the Duck Pond VMS deposit.
Within
the prospective Victoria Lake Supergroup which hosts numerous
epigenetic gold & volcanogenic massive sulfide occurrences
(including Duck Pond VMS deposit).
Within
the Exploits Subzone of the Dunnage Zone and east of the Red Indian
Line (RIL), a major (Appalachian-scale) collisional boundary, and suture
zone.
Government till samples (2008) returned elevated to anomalous values for gold in various regions of the Golden Trust Property.
The
Golden Trust Property occurs within an under-explored area of the
Newfoundland central gold belt. Company management have been unable to
locate any reports of historic diamond drilling within the property.
Till geochemical sampling conducted by the Newfoundland Department of
Natural Resources in 2008 included a small number of wide-spaced samples
within the Golden Trust Property. Samples from various regions of the
property returned elevated to anomalous values for gold including in the
5-9 parts per billion range.
The southern boundary of the
property is located 1 kilometer north of the northeast region of the
Valentine Lake Gold Camp of Marathon Gold Corp. (TSXV:MOZ).
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 totaling 2,691,400 oz. of
gold at 1.85 g/t gold and inferred resources totalling 1,531,600 oz. of
gold at 1.77 g/t. The Golden Trust Property is located approximately 44
kilometers southwest of Great Atlantic’s Golden Promise Gold Property
which hosts multiple gold bearing quartz vein systems.
The
Company’s Golden Trust and Golden Promise Properties and the Valentine
Lake Gold Camp of Marathon Gold Corp. all occur within the Exploits
Subzone of the Dunnage Zone. The Red Indian Line (RIL), a major
(Appalachian-scale) collisional boundary, and suture zone, forms the
western boundary of the Exploits Subzone.
The Golden Trust
Property occurs within the Victoria Lake Supergroup (VLSG), a
volcano-sedimentary terrane within the Exploits Subzone. The VLSG hosts
numerous volcanogenic massive sulfide (VMS) and epigenetic gold
occurrences. The most significant of the VMS deposits within the VLSG is
the Duck Pond deposit (zinc, lead, copper, silver and gold), located
approximately 31 kilometers northeast of the Golden Trust Property.
Readers
are warned that mineralization at the Valentine Lake Gold Camp, Golden
Promise Property, Duck Pond Deposit and elsewhere within the Exploits
Subzone and VLSG is not necessarily indicative of mineralization within
the Golden Trust Property.
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.
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.
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 – Dir
