InvestmentPitch Media Video Discusses Great Atlantic's Addition of 5,000 Hectares to Portfolio in Central Newfoundland Gold Belt, with Samples up to 17 g/t Gold - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - January 21, 2021) - Great Atlantic Resources (TSXV: GR) (FSE: PH02), which has been active in the central Newfoundland Gold Belt since 2016, continues to add to its property portfolio in the area. During 2020 the company was fortunate to stake another 5 mineral licences, totalling 5,025 hectares, when they became available.
Three licences border the company's Golden Promise Property, which hosts multiple gold bearing quartz veins and quartz vein systems, while 2 licences are located east of the Golden Promise Property. Anomalous gold in soil and/or rock samples is reported within and/or adjacent to these new mineral licences.
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The 1,525-hectare Lynx Pond Property, located approximately 12 kilometers to the east, was staked to cover the area of a reported high-grade gold bearing rock sample, reported gold soil geochemical anomalies with a pyrite-gold mineral occurrence reported in the southern region of the property. A 2004 quartz float sample from the central region of the property reportedly returned 17 g/t gold, 52 g/t silver, 1.74% copper and more than 1% antimony. A 2004 soil sample from the east region of the property reportedly returned an anomalous value of 0.083 parts per million gold.
The 500-hectare Coronation Lake Property, located approximately 14 kilometers to the southeast, was staked to cover reported gold soil geochemical anomalies and two gold-silver-molybdenum-copper mineral occurrences. Two gold-silver-molybdenum-copper mineral occurrences are reported within the property, the Coronation Lake South #1 and Coronation Lake South #2 occurrences. A 1975 diamond drill hole was reported to intersect near-surface intervals with anomalous gold including 0.86 g/t gold over a 0.91 meter core length.
A float sample from 1975 reportedly returned 0.51 g/t gold, 0.65% copper and 0.25% molybdenum. Three 2005 soil samples were reported to return highly anomalous values of 0.43 ppm gold, 0.152 ppm gold and 0.112 ppm gold.
The 1,125-hectare East Golden Promise Property, located adjacent to the eastern region of the Golden Promise Property, was staked to cover areas of reported gold bearing rock samples, including two float samples reported to return 0.40 and 0.41 g/t gold.
The 1,425-hecare West Golden Promise Property is located adjacent to the western region of the Golden Promise Property. Gold anomalies of up to 54 ppb gold were reported for 2005 humus samples within the property, with a 2005 soil sample collected within 100 meters of the eastern boundary of the property reportedly returning a highly anomalous value of 0.559 ppm gold.
The 450-hectare South Golden Promise Property is located adjacent to the south of the Golden Promise Property. The Gabbro Zone gold occurrence is located approximately 760 meters north of the property within the company's original Golden Promise Property, reportedly returned a highly anomalous value of 0.388 ppm gold from a 2008 soil sample just 113 meters north of the border of the new South Golden Promise Property.
The company's 5 new properties, along with its Golden Promise, Southwest Golden Promise and Golden Trust properties are all located within a region of recent significant gold discoveries. These properties are 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.
Viewers are warned that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization on Great Atlantic's properties in this region.
Great Atlantic, with a number of properties in the Atlantic provinces, is utilizing a Project Generation model, with a special focus on critical elements which are prominent in Atlantic Canada, such as Antimony, Tungsten and Gold.
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