Great Atlantic Resources Corp (TSX-V:GR) has announced plans to diamond drill the gold-bearing Jaclyn Main Zone (JMZ) at its flagship, 100%-owned Golden Promise gold property in Newfoundland.
The company said the objective of the drilling is to expand the Zone's Inferred resources by means of definition drilling along structurally important zones to the east and west of the JMZ.
Great Atlantic noted that 17 drill holes, totaling about 4700 meters (m), are planned during 2022 at the JMZ.
Following completion of the 2022 drill program, Great Atlantic said it plans to generate an updated National Instrument (NI) 43-101 technical report and resource estimate for the JMZ.
READ: Great Atlantic Resources completes diamond drilling program at its Mascarene property in New Brunswick
According to the company, a NI 43-101 compliant Inferred resource estimate for the JMZ, completed in 2018, showed 357,500 tonnes of 10.4 grams per tonne (g/t) gold, or 119,900 ounces of gold (uncapped).
The company said it plans to drill a minimum of four holes in the areas around the western extension of the JMZ, where favourable structural trends strongly suggest a westward continuity of this system of gold veins.
It added that a minimum of eight drill holes are planned to assess the continuity of the JMZ gold-bearing veins to the east and down dip, with expectations the number of drill holes within these targets will be expanded if warranted by the results.
As well, Great Atlantic noted that a secondary objective of the 2022 drilling program is to determine if any of the adjacent gold-bearing vein systems in the area surrounding the Jaclyn North Zone (JNZ) can yield results significant enough to warrant more extensive drilling programs in the future.
Three drill holes completed during 2020 in this area intersected gold-bearing quartz veins about 260m east of the previously known extent of the JNZ, the company said.
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.
Contact Sean at sean@proactiveinvestors.com