Company
CVE:GR
Great Atlantic Resources Corp is a Canadian company exploring Atlantic Canada, which it says is resource-rich and sovereign risk-free. The company is advancing with a project generator model and is especially focused on the critical elements, which are prominent in Atlantic Canada, namely antimony, tungsten and gold. Its most advanced and highest priority project is the Golden Promise gold property, which sits in the central Newfoundland gold belt, where multiple gold bearing quartz veins/ quartz vein systems and zones of gold bearing quartz boulders have been reported. Great Atlantic reported a 43-101 resource estimate for the Jaclyn Main Zone (JMZ) in late 2018, showing an inferred resource of 119,000 gold ounces averaging 10.4 grams per ton (g/t). In the province of New Brunswick, the firm has the Kagoot Brook cobalt project, optioned to Explorex Resources, on the southwest margin of the Bathurst mining camp. Its other assets are Keymet, Mascarene, McDougall Road, Porcupine and Glenelg Vanadium.
56 stories · page 3 of 3
The company said drilling within the Jaclyn main zone intersected near-surface gold bearing quartz veins with visible gold
The explorer highlighted a new gold discovery at the Debler Zone in drill hole Ky-21-25, including 3.17 grams per ton gold over 0.70m core length, and polymetallic veins in hole Ky-21-27, including 7.02% zinc equivalent over 0.92 meters
The Atlantic Canada-focused resource company said that “multiple" gold bearing intervals occur based on these recent gold assays and previously reported gold assays
The company said rock sampling is currently being conducted in the area of the Wheal Louisiana copper- nickel-cobalt occurrence, where previous sampling also confirmed gold mineralization
The company said the objective of the drilling is to expand the Zone's Inferred gold resources
Five holes were drilled of which four holes intersected quartz and/or carbonate veins with copper mineralization (chalcopyrite)
Limited sampling by Great Atlantic in 2020 confirmed anomalous copper and gold in rubble and a sample returned 6.19% copper, 0.404 grams per ton (g/t) gold and an anomalous value of 107 parts per million (ppm) cobalt
The hole was one of an eight hole program at the Jaclyn Zone part of the property and was sunk in the west region of the Jaclyn Main Zone (JMZ) in an area of high-grade quartz veins
Assays from the two drill holes received have confirmed high grade gold in quartz veins in both holes, with intercepts of 238 grams per ton (g/t) gold over 0.40 metres in one and 75.5 g/t gold over 0.35 metres in another
Each flow-through unit consists of one share, which qualifies as a 'flow-through share' as defined in the Income Tax Act, and one share purchase warrant. Each whole warrant allows the bearer to buy one additional non-flow common share for C
The zone covers an area of approximately 850 metres by 500 metres and is open in all directions
Assay results from the company’s 2021 diamond drilling program included 75.5 g/t gold over 0.35 meters and 20.1 g/t gold over 0.50 meters
The company said that the net proceeds from the offering will be used for exploration expenses on the company's mineral properties in Atlantic Canada
FTJ has the right, for 30 days, to conduct due diligence on certain claims..
Multiple grab samples exceeded 200 parts per million lithium
