Great Atlantic Resources Corp (TSX-V:GR) announced that it has established a wholly-owned subsidiary named Golden Promise Mines Inc into which it will be transferring all of its central Newfoundland gold properties, including the Golden Promise property, the Southwest Golden Promise property, the West Golden Promise property, the South Golden Promise property, the East Golden Promise property, the Coronation property, the Lynx property and the Golden Trust property.
The Canadian exploration company said the Golden Promise property is the most advanced, highest priority and largest (16,525 hectares) property, in which multiple gold bearing quartz veins/quartz vein systems and zones of gold bearing quartz boulders occur within the property.
Great Atlantic stated that past drilling at Golden Promise’s Jaclyn Main Zone (JMZ) intersected high-grade assays that included 2.3 grams per tonne (g/t) gold over 25.25 meters.
The company also noted that it confirmed gold soil geochemical anomalies in multiple areas within the northern region of the Golden Trust Property during 2020 and 2022, with initial reconnaissance soil sampling returning up to 52 parts per billion (ppb) gold.
Vancouver-based Great Atlantic Resources is a Canadian project generation company focused on the discovery and development of mineral assets in Atlantic Canada.
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