Great Atlantic Acquires Golden Trust Property 1 Km North of Valentine Lake Gold Camp of Marathon Gold Corp. in Central Newfoundland Gold Belt
VANCOUVER, March 1, 2019 - Great Atlantic Resources Corp. (TSXV:GR) (the "Company" or "Great Atlantic") is pleased to announce it has acquired, through staking, the Golden Trust Property, located in the central Newfoundland gold belt and 1 kilometer north of the Valentine Lake Gold Camp of Marathon Gold Corp. (TSXV:MOZ). The Golden Trust Property covers an area of 2,400 hectares in a relatively under-explored area of the central Newfoundland gold belt. Key points for the Golden Trust Property include:
- Located 1 km north of the Valentine Lake Gold Camp of Marathon Gold Corp., approximately 44 km southwest of Great Atlantic's Golden Promise Property and approximately 31 km southwest of the Duck Pond VMS deposit.
- Within the prospective Victoria Lake Supergroup which hosts numerous epigenetic gold & volcanogenic massive sulfide occurrences (including Duck Pond VMS deposit).
- Within the Exploits Subzone of the Dunnage Zone and east of the Red Indian Line (RIL), a major (Appalachian-scale) collisional boundary, and suture zone.
- Government till samples (2008) returned elevated to anomalous values for gold in various regions of the Golden Trust Property.
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The Golden Trust Property occurs within an under-explored area of the Newfoundland central gold belt. Company management have been unable to locate any reports of historic diamond drilling within the property. Till geochemical sampling conducted by the Newfoundland Department of Natural Resources in 2008 included a small number of wide-spaced samples within the Golden Trust Property. Samples from various regions of the property returned elevated to anomalous values for gold including in the 5-9 parts per billion range.
The southern boundary of the property is located 1 kilometer north of the northeast region of the Valentine Lake Gold Camp of Marathon Gold Corp. (TSXV:MOZ). As reported on Marathon's website, the Valentine Lake Gold Camp currently hosts four near-surface, mainly pit-shell constrained, deposits with measured and indicated resources totaling 2,691,400 oz. of gold at 1.85 g/t gold and inferred resources totalling 1,531,600 oz. of gold at 1.77 g/t. The Golden Trust Property is located approximately 44 kilometers southwest of Great Atlantic's Golden Promise Gold Property which hosts multiple gold bearing quartz vein systems.
The Company's Golden Trust and Golden Promise Properties and the Valentine Lake Gold Camp of Marathon Gold Corp. all occur within the Exploits Subzone of the Dunnage Zone. The Red Indian Line (RIL), a major (Appalachian-scale) collisional boundary, and suture zone, forms the western boundary of the Exploits Subzone.
The Golden Trust Property occurs within the Victoria Lake Supergroup (VLSG), a volcano-sedimentary terrane within the Exploits Subzone. The VLSG hosts numerous volcanogenic massive sulfide (VMS) and epigenetic gold occurrences. The most significant of the VMS deposits within the VLSG is the Duck Pond deposit (zinc, lead, copper, silver and gold), located approximately 31 kilometers northeast of the Golden Trust Property.
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Readers are warned that mineralization at the Valentine Lake Gold Camp, Golden Promise Property, Duck Pond Deposit and elsewhere within the Exploits Subzone and VLSG is not necessarily indicative of mineralization within the Golden Trust Property.
David Martin, P.Geo., 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.
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, Antimony, Tungsten and Gold.
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 – Dir
Please call 604-488-3900
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
SOURCE: Great Atlantic Resources Corp.
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