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Great Atlantic Applies for Two Additional Diamond Drilling Permits, Plans Drilling Early July At Its 100% Owned Golden Promise Gold Property Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / June 17, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the "C...
About this update from Great Atlantic Resources Corp.
[{"type":"text","content":"Great Atlantic Applies for Two Additional Diamond Drilling Permits, Plans Drilling Early July At Its 100% Owned Golden Promise Gold Property Central NewfoundlandVANCOUVER, BC / ACCESSWIRE / June 17, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the \"Company\" or \"Great Atlantic\") is pleased to announce it has applied for two additional diamond drilling permits for its Golden Promise Gold Property, located in the central Newfoundland gold belt. The applications are for up to 33 drill holes at the Jaclyn Zone and up to 12 drill holes at the Otter Brook showing. The Company is planning to resume drilling at the Jaclyn Zone in early July under its existing drilling permit.The Company reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold - uncapped). A 2020 outcrop grab sample from the Otter Brook showing returned 5.75 g/t gold.The drilling application for the Jaclyn Zone includes 15 drill holes at the Jaclyn Main Zone and 18 drill holes at the Jaclyn North Zone for approximately 5,000 meters. This includes in-fill drill holes within different part of the Jaclyn Main Zone, the objective to provide further definition of the zone and provide information for an updated resource calculation. Most of these holes are planned within the central to west region of the zone, testing above 200 meters vertical depth. Two holes are planned in the east part of the Jaclyn Main Zone to test the zone at 200-350 meters vertical depth. Great Atlantic confirmed high-grade gold at the Jaclyn Main Zone during 2019 drilling, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters and 61.35 g/t gold over 2.04 meters.The planned drilling at the Jaclyn North Zone will further test the area east of historic drill holes including the area of an approximate 300-meter long zone of gold-bearing quartz vein boulders. Three drill holes completed by the Company during 2020 in this area intersected gold bearing quartz veins and extended the Jaclyn North quartz vein system approximately 260 meters east of historic drilling. The Company collected gold bearing quartz boulder samples in this area during 2017 (including samples returning 163, 208 and 332 grams / tonne (g/t) gold) and 2020 (including samp...