Business
Great Atlantic Commences Diamond Drilling at Its Golden Promise Gold Property Central Newfoundland
VANCOUVER, BC / ACCESSWIRE / October 15, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the...
About this update from Great Atlantic Resources Corp.
[{"type":"text","content":"\nGreat Atlantic Commences Diamond Drilling at Its Golden Promise Gold Property Central NewfoundlandVANCOUVER, BC / ACCESSWIRE / October 15, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the \"Company\" or \"Great Atlantic\") is pleased to announce it plans initiate a Phase 1 diamond drill program at its Golden Promise Gold Property, located within the central Newfoundland gold belt. The diamond drill is scheduled to be mobilized to the property on October 18 for drilling at the Jaclyn Zone, which hosts multiple gold-bearing quartz vein systems.\"Great Atlantic has been building value, currently we have a 100% interest in multiple projects in Atlantic Canada. The Golden Promise Gold Property is a prime example of Value add, in Great Atlantic. We have completed a current 43-101 with a resource of over a 100,000 Oz Gold, as well as multiple exploration programs defining multiple new target areas to be drilled. We have watched as our neighbour Marthon Gold expand their resource to over 4, Million OZ Gold and become a 200 million dollar market cap company. It's our belief that Value investing will soon be on the radar of investors as the shift out of momentum investing continues,\" states Anderson CEO Great Atlantic Resources.The Phase 1 drilling program will be a minimum of 1,000 meters, focusing on the Jaclyn Main Zone (JMZ) with some holes testing the Jaclyn North Zone (JNZ).The program is expected to:Test the west half of JMZ within the conceptual pit-constrained area.Test the deeper central region of JMZ.Expand the JMZ resource.Test along projected strike east of JNZ in an area of high-grade quartz boulders (boulder samples of 163, 208 and 332 g/t gold - News Release of August 31, 2017).The Company reported a National Instrument 43-101mineral resource estimate for the JMZ in late 2018 (News Release of December 6, 2018; and Sedar-filed National Instrument 43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo.). The reported inferred mineral resource estimate for the JMZ is as follows:ResourceCutoff Au g/tAu Cap g/tAu Uncap g/tTonnesAu Ounces CappedAu Ounces UncappedTotal1.19.310.4357,500106,400119,900Pit-Constrained0.611.414.1157,30057,80071,200Underground1.57.57.6200,20048,60048,700Mineral R...