Vancouver, British Columbia (FSCwire) - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) is pleased to announce it has commenced the 2018 exploration program, beginning at its Golden Promise Gold Property, located in central Newfoundland. The Company is also planning exploration during 2018 at other properties, including its South Quarry Tungsten and Pilley’s Island Precious – Base Metal Properties in Newfoundland and its Keymet Precious – Base Metal and Mascarence Cobalt – Copper – Nickel – Gold Properties in New Brunswick.

 

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The Company has commenced a program of prospecting and rock – soil geochemical sampling at the Golden Promise Gold Property targeting multiple areas. Gold- bearing quartz veins are reported in multiple areas of the Property, including at least 4 gold- bearing quartz vein systems reported in one zone referred to as the Jaclyn Zone.  The Company is currently exploring select areas for additional gold- bearing quartz veins. These include areas of gold- bearing float identified by the Company in 2017, soil geochemical anomalies identified by the Company in 2017, and favourable areas based on reported bedrock geology and reported historical airborne geophysical data. Quartz float samples collected by the Company during 2017 in one target area (referred to as the Branden Zone) in the northern region of the Property returned 57.2 and 200 grams / tonne (g/t) gold (News Release of August 28, 2017). The Company is exploring the southern region of the Property including areas peripheral to the Shawn’s Shot quartz vein. A 0.32 meter long chip sample collected across the vein by the Company in 2017 returned 48.2 g/t gold (news Release of August 28, 2017). The Golden Promise Property is located southwest of the town of Badger and approximately 55 kilometres northeast of the Valentine Lake Property of Marathon Gold Corp.

 

A portion of sample GP-R-17-30 with visible gold (sample returned 200 g/t Au – 5.8 oz./ton Au)

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Much of the reported historical exploration at the Golden Promise Property has been focused on the Jaclyn Zone in the northern half of the Property, with gold- bearing vein systems reported at Jaclyn Main, Jaclyn East, Jaclyn West, Jaclyn North and Jaclyn South Sub-zones. Most historic work was conducted at the Jaclyn Main Zone. Reported diamond drilling intercepts (meters) at the Jaclyn Main Zone include:

 

• GP02-01: 16.57 g/t Au over 2.55 m core length(1.64 m estimated true thickness)

 

• GP02-09: 7.05 g/t Au over 4.90 m core length (2.22 m estimated true thickness)

 

• GP06-52: 93.71 g/t Au over 1.40 m core length (1.25 m estimated true thickness)

 

• GP07-91: 141.21 g/t Au over 0.45 m core length (0.33 m estimated true thickness)

 

• GP07-92: 10.41 g/t Au over 4.70 m core length (1.60 m estimated true thickness)

 

Gold recovery from a reported 2,241 tonne bulk sample collected in 2010 at the Jaclyn Main Zone was reported to average 4.47 g/t Au. The average tails grade for the sample was reported to be 1.12 g/t Au. A “back-calculated head grade of 5.59 g/t Au” was reported for the bulk sample.

 

Jaclyn West (Christopher) Vein at historic trench

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Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.

 

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

 

About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.

 

On Behalf of the board of directors

 

“ Christopher R Anderson ”

 

Mr Christopher R Anderson  " Always be positive, strive for solutions, and never give up "

President CEO Director

604-488-3900 – Dir

 

Investor Relations:

Kaye Wynn Consulting Inc.: 604-558-2630, Toll Free –888-280-8128

E-mail: info@kayewynn.com

 

This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Great Atlantic Resource Corp

888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4

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Source: Great Atlantic Resources Corp. (TSX Venture:GR, FWB:PH01)

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