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InvestmentPitch Media Video Discusses Great Atlantic's Mobilization of a Diamond Drill to the Otter Brook Region of its Golden Promise Gold Property, in the Central Newfoundland Gold Belt - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2021) - Great Atlantic Resources ...
About this update from Great Atlantic Resources Corp.
[{"type":"text","content":"InvestmentPitch Media Video Discusses Great Atlantic's Mobilization of a Diamond Drill to the Otter Brook Region of its Golden Promise Gold Property, in the Central Newfoundland Gold Belt - Video Available on Investmentpitch.comVancouver, British Columbia--(Newsfile Corp. - September 22, 2021) - Great Atlantic Resources (TSXV: GR) (FSE: PH02) is currently mobilizing a diamond drill to the Otter Brook region of its Golden Promise Gold Property. Otter Brook is located within the company's 100% owned Golden Promise Property, which is 1 of the company's 8 properties within the central Newfoundland gold belt, which cover a total area of 25,700 hectares.For more information, please view the InvestmentPitch Media \"video\" which provides additional information about this news and the company. 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/video/1_jcvdre38/Great-Atlantic-is-currently-mobilizing-a-diamond-drill-to-the-Otter-Brook-region-of-its-Golden-Promise-Gold-Property-in-the-central-Newfoundland-gold-beltThe drilling permit, for up to 12 holes, will test under the Otter Brook gold showing and along its projected strike, with drilling scheduled to begin later this week. Eight of 11 rock samples, from float, subcrop and outcrop, collected by the company during 2020, returned gold values in the 0.719 - 5.758 g/t range, with the highest value coming from an outcrop grab sample.In 2018, the company reported a NI 43-101 compliant inferred resource estimate of 357,000 tonnes at 10.4 grams per tonne gold for 119,000 ounces uncapped at the nearby the Jaclyn Main Zone. Because part of the vein is near surface, the resource estimate was constrained by a conceptual open pit to demonstrate reasonable prospects of eventual economic extraction. Generic mining costs of US$2.50 per tonne and processing costs of US$25.00 per tonne were used together with a gold price of US$1,300 per ounce. All resources were classified as inferred because of the relatively wide spacing of drill holes through most of the zone.The Golden Promise Property, located within the Exploits Subzone of the Newfoundland Dunnage Zone, is within a region of recent significant gold discoveries. Within the Exploits Subzone, the property lies along the north-n...