Great Atlantic Resources Corp (TSX-V:GR) told investors it has received the results from the third hole of last year's diamond drilling program at the flagship Golden Promise asset in Newfoundland’s gold belt, which showed "multiple near-surface gold-bearing intervals".
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.
Three samples from the hole exceeded 5 grams per ton (g/t) gold. One sample showed an intercept of 0.40 meters (m) core length quartz vein sample from 47.6m depth, showing visible gold of 101.4 g/t.
Another sample showed 0.75m at 56.8 g/t gold from 47.25m depth. The hole was drilled, at an approximate 50-degree dip to the northwest, to a depth of 116m.
READ: Great Atlantic Resources shares exploration progress at its flagship Golden Promise property in Newfoundland gold belt
During last year's drilling, five holes were drilled at the JMZ and three holes at the Jaclyn North Zone (JNZ).
Great Atlantic confirmed high-grade gold at the JMZ during its initial 2019 drilling, including near-surface intercepts of 113.07 g/t gold over 0.55m, 61.35 g/t gold over 2.04m, and 15.8 g/t gold over 2.70m
In late 2018, the company unveiled an NI 43-101 compliant inferred resource for JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold - uncapped).
Great Atlantic Resources is exploring assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world.
It has a project generator model and has a special focus on critical elements - antimony, tungsten and gold. Its central Newfoundland gold properties are near recent significant gold discoveries, including Marathon Gold’s Valentine project's Sokoman Minerals (TSX-V:SIC) (Sokoman Minerals (TSX-V:SIC)) Moosehead project and New Found Gold’s Queensway project.
Contact the author at giles@proactiveinvestors.com