Great Atlantic Receives Diamond Drilling and Trenching Approvals for New Target Area at Its 100% Owned Golden Promise Gold Property - Central Newfoundland

VANCOUVER, BC / ACCESSWIRE / December 12, 2023 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the "Company" or "Great Atlantic"), is pleased to announce it has received approval from the government of Newfound and Labrador for additional diamond drilling and trenching at its flagship Golden Promise Gold Property located in the central Newfoundland. The approval is for five drill holes and three trenches within the southern region of the property in an area of gold soil geochemical anomalies. Great Atlantic has not conducted any such diamond drilling or trenching to date in this relatively underexplored area of the Golden Promise Property.

Foto: Accesswire

The area of approved diamond drilling and trenching is within the southwest region of the Golden Promise Property within Mineral Licence 036105M. This target area is located approximately 3.5 to 4.0 kilometers northeast of Linda / Snow White gold bearing quartz vein system. This is an area of gold soil geochemical anomalies identified by the Company during the 2018 and 2020 exploration programs (see Company News Releases of September 27, 2018, and November 20, 2022). This zone of gold soil anomalies has an apparent length of at least 500 meters with an apparent width of approximately 90-200 meters (defined by four soil sample lines) with 22 of 28 samples within the zone returning anomalous gold values of 5 parts per billion (ppb) and higher (up to 77 ppb Au). The five planned drill holes and three planned trenches will test different parts of this zone of gold soil anomalies. The planned drilling will be approximately 1500-2000 meters.

Foto: Accesswire

The Golden Promise Property hosts gold bearing quartz veins in various regions of the property including the Jaclyn Zone quartz vein systems, Shawn's Shot vein, Otter Brook occurrence, Linda / Snow White quartz vein system and the Gabbro occurrence.

Foto: Accesswire

The Golden Promise Property is located within the Exploits Subzone of the Newfoundland Dunnage Zone. Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp. (TSX.MOZ) at the Valentine Gold Project, Sokoman Minerals Corp. (TSXV.SIC) at the Moosehead Gold Project and New Found Gold Corp. (TSXV.NFG) at the Queensway Project. Readers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization at Great Atlantic's Golden Promise Property.