Great Atlantic Resources Corp (TSX-V:GR) said it has begun the 2022 prospecting and rock geochemical sampling program at its Golden Promise gold property in the central Newfoundland gold belt.
The explorer said work is already underway in the central and southern regions of the property to identify trenching and drilling targets.
The program will focus on target areas previously identified with gold soil geochemical anomalies and gold-bearing boulders and bedrock, as well as on new target areas based on favorable reported bedrock geology and previously reported airborne geophysics, the company added.
READ: Great Atlantic Resources says drilling at its Golden Promise project in Newfoundland shows additional high-grade gold at the Jaclyn main zone
Great Atlantic noted that Golden Promise hosts gold-bearing quartz veins in various regions of the property including the Jaclyn Zone, Shawn’s Shot vein, Otter Brook showing, Linda/Snow White quartz vein system and the Gabbro occurrence.
The company said it confirmed high-grade gold at the Jaclyn Main Zone during 2019 and 2021 drilling, including core length intercepts of 238 grams per tonne (g/t) over 0.4 meters (m), 113.07 g/t gold over 0.55m, 56.8 g/t gold over 0.75m and 61.35 g/t gold over 2.04m.
Additionally, it confirmed gold mineralization at the Otter Brook showing during 2020, including an outcrop grab sample returning 5.75 g/t gold, and intersected gold during its 2021 maiden drilling program at this showing, including 4.95 g/t gold over 0.5m.
It also confirmed high-grade quartz vein float at the Jaclyn North Zone during 2017 and 2020 prospecting and rock sampling, including samples returning 157.5, 163.9, 208.5 and 332.6 g/t gold, and intersected high-grade gold at this zone during 2021 drilling (30.6 g/t gold over 0.41m core length).
Great Atlantic said it reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the Jaclyn Main Zone of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold - uncapped).
The company noted that the Golden Promise property is situated in a region of recent significant gold discoveries and is located within the Exploits Subzone of the Newfoundland Dunnage Zone.
Within the Exploits Subzone, it said the property lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrane.
The northwestern margin of the property occurs proximal to, and, in part, contiguous with a major, Appalachian-scale collisional boundary, and suture zone, known as the RIL. The RIL forms the western boundary of the Exploits Subzone.
Recent significant gold discoveries within the Exploits Subzone include those of Marathon Gold Corp at the Valentine Gold Project, Sokoman Minerals Corp at the Moosehead Gold Project and New Found Gold Corp at the Queensway Project.
The company cautioned, however, that mineralization at the Valentine Gold Project, Moosehead Gold Project, and Queensway Project is not necessarily indicative of mineralization on the Golden Promise property.
Great Atlantic Resources is a Canadian explorer focused on the discovery and development of projects in Atlantic Canada.
Contact the author at stephen.gunnion@proactiveinvestors.com