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InvestmentPitch Media Video Discusses Great Atlantic's Acquisition of the Southwestern Golden Promise Property in Central Newfoundland Gold Belt - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2019) -  Great Atlantic Resou...
About this update from Great Atlantic Resources Corp.
[{"type":"text","content":"InvestmentPitch Media Video Discusses Great Atlantic's Acquisition of the Southwestern Golden Promise Property in Central Newfoundland Gold Belt - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - February 21, 2019) -  Great Atlantic Resources (TSXV: GR) (FSE: PH01) has acquired, through staking, the Southwest Golden Promise Property, located in central Newfoundland. The 1,000-hectare property, centered approximately 4 kilometers west of the southern-most region of the Company's Golden Promise Property, covers gold soil anomalies up to 7.6 grams per tonne and reported gold-bearing quartz float up to 6.7 grams per tonne.InvestmentPitch Media has produced a \"video\" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter \"Great Atlantic\" in the search box.Cannot view this video? Visit:http://www.investmentpitch.com/The primary target within the Southwest Golden Promise Property is an approximately 260-meter long northeast-southwest trending zone of historic gold soil anomalies. Multiple 2008 soil samples within this trend are reported to have returned anomalous values for gold including eight samples in the 36 - 82 parts per billion gold range. Panned soil samples at two of three sites within this anomalous zone were reported to yield gold flakes.The Golden Promise Property remains the company's focus in the central Newfoundland gold belt. The Golden Promise Property hosts multiple gold bearing quartz veins, the most advanced being the Jaclyn Main Zone for which the company recently announced a mineral resource estimate.Using a weighted average cutoff of 1.1 grams per tonne resulted in a total Inferred Resource of 106,000 ounces capped and 119,900 ounces upcapped. All resources were classified as inferred because of the relatively wide spacing of drill holes through most of the zone. Generic mining costs of US$2.50 a tonne and processing costs of US$25.00 a tonne were used together with a gold price of US$1,300 per ounce. A gold bearing vein referred to as Linda /Snow White vein occurs in the southwest region of the Golden Promise Property, where reported historic surface samples included grab samples of 105 and 232 grams per tonne gold and a channel sample of 29.7 grams per tonne gold over 0.5 meters. The best reported historic drill hole in...