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Great Atlantic Applies for 2700 Tonne Bulk Sample Permit Targeting a High Grade Area Within Its 119,900 Oz Resource Averaging 10.4 G/T Gold at Jaclyn Main Zone, 100% Owned Golden Promise Gold Property - Central Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - April 10, 2025) - GREAT ATLANTIC RESOURCES CORP. (TSXV: GR) (the "Company" or "Great Atlantic") is pleased to announce its wholly owned subsidiary, Golden Promise Mines Inc., has submitted a bulk sampling application to the Newfoundland and Labrador Department of Industry, Energy and Technology for its Golden Promise Gold Property, located in central Newfoundland.
The application is for extraction of a bulk sample at the gold bearing Jaclyn Main Zone (JMZ).
"With the recent $2.6-billion Equinox-Calibre deal (EQX & CXB) highlighting the strategic value of Newfoundland's gold assets, we are encouraged to be advancing our 22,000 HA Land Package in Great Atlantics wholly owned Sub , Golden Promise Mines Inc which is as close as 1 kilometre from Calibre's Valentine Gold Mine, 24000 HA Land Package putting us right next door to one of the region's largest and most active gold operations. As we move forward with the world's first innovative precision mining initiative being funded by Digital cluster Canada in conjunction with Novamera at the Jaclyn Main Zone, we believe Great Atlantic is well positioned to benefit from the increasing attention and consolidation activity in this high-grade gold district," states - Mr. Anderson, CEO & President.
Pending bulk sampling approval, extraction of the planned approximately 2700 tonne bulk sample at the JMZ is planned during the summer of 2025 by Golden Promise Mines Inc. with partner Novamera Inc. using a precision mining method, powered by Novamera's full suite of Surgical MiningTM technologies. The transformative new mining method leverages hardware, software, AI and ML paired with conventional drilling equipment to extract ore at a fraction of the cost of conventional mining methods. Three large diameter drill holes are planned to extract the bulk sample.
The planned bulk sampling work at the JMZ will be funded in part by co-investment from DIGITAL, Canada's Global Innovation Cluster for digital technologies, as part of a larger project that aims to support data-driven and digital solutions within the mining sector. The Link to the announcement can be found here.
Extraction of the bulk sample is planned in the west region of the JMZ. Golden Promise Mines Inc. completed eight drill holes during September - October of 2024 in the area of the planned bulk sample. All eight holes were drilled on the same northwest - southeast trend to intersect the steeply dipping, east to slightly northeast trending JMZ. The eight holes were designed to target the JMZ between surface and approximately 100 meters vertical depth. Seven of the holes intersected quartz veins with visible gold. Half core samples from these veins included (core length) (see Company news releases of November 19th, 2024, December 4th, 2024, January 8th, 2025, January 14th, 2025 and January 20th, 2025):
The 2024 drilling was conducted with partner Novamera Inc. Two additional close-spaced drill holes (9th and 10th 2024 drill holes) were completed during December of 2024 in this area of the JMZ. The 9th and 10th drill holes included the use of Novamera's proprietary Guidance Tool, providing increased data and resource knowledge to define the shape, geometry and continuity of the vein. These two steep holes were drilled approximately down - dip of the JMZ and are located in the area of the planned 2025 bulk sample. The Guidance Tool collects data within a 3-4 meter radius of the borehole to create a high-resolution 3D orebody model, which is then used to calculate the optimal drill trajectory for Surgical MiningTM. A third down-dip hole is planned at this site later this month.
Great Atlantic reported a National Instrument 43-101 compliant inferred resource estimate during late 2018 for the JMZ of 357,500 tonnes at 10.4 g/t gold (119,900 ounces of gold - uncapped) (see Company News Release of December 6, 2018; and Sedar-filed National Instrument 43-101 Technical Report on the Golden Promise Property, Central Newfoundland (revised), dated December 4, 2018 by Mr. Greg Z. Mosher, M.Sc. App., P.Geo., and Mr. Larry Pilgrim, B.Sc., P.Geo.).
Golden Promise Mines Inc. Gold Properties - Central Newfoundland
The Golden Promise Property is the largest and most advanced of six central Newfoundland gold properties owned by Golden Promise Mines Inc. and located within the Exploits Subzone of the Newfoundland Dunnage Zone. One of these properties (Golden Trust) is located within one kilometer of the Valentine Gold Mine of Calibre Mining Corp. which is also located within the Exploits Subzone. Readers are warned that mineralization at the Valentine Gold Mine is not necessarily indicative of mineralization at the Golden Promise Property or any of the other central Newfoundland gold properties of Golden Promise Mines Inc.
David Martin, P.Geo., (New Brunswick and Newfoundland and Labrador), a Qualified Person as defined by NI 43-101 and VP Exploration for Great Atlantic, is responsible for the technical information contained in this News Release.
On Behalf of the board of directors
"Christopher R. Anderson" Mr. Christopher R. Anderson President CEO Director 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp. 888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
