VANCOUVER, British Columbia - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the 'Company' or 'Great Atlantic') is pleased to announce it has applied for a diamond drilling permit through its wholly owned subsidiary, Golden Promise Mines Inc., for its Golden Promise Gold Property, located in central Newfoundland.
The application is for nine drill holes at the Jaclyn Main Zone which hosts gold bearing quartz veins, including high grade gold mineralization. These guidance imaging holes are targeting the area of our fully funded planned bulk sample
'The opportunity to complete a fully funded bulk sample at the Jaclyn Main Zone using non-dilutive capital is a major milestone for the company. I would strongly encourage investors to look at the consortium working with Great Atlantic to complete this task. Taking a hands-on approach, I have traveled to the Netherlands to meet with the innovative Dutch Drilling team. After reviewing their previous engineering feats, the modifications made to the Bore Drill process that will be utilized for this project have only solidified my confidence in our potential success. This confidence extends not only to completing a bulk sample but also to advancing the balance of our current resource and the known and unknown high-grade gold veins within the complex of our property, which is located next to CXB.v, a soon to be proven producer within the Exploits Subzone,' states Anderson, CEO Great Atlantic Resources.
The objective of the guidance imaging diamond drilling is to further define gold bearing quartz veins in one specific area of the Company's resource where the bulk sample is planned with its partner Novamera Inc. Extraction of the bulk sample will utilize a precision mining method powered by Novamera's proprietary Surgical Mining technologies (Novamera Website). The partners are currently finalizing the bulk sample program application and anticipating final approval by end of summer. Once permitting is approved, which is expected in the next few months, execution will be implemented. The program is fully funded with an anticipated spend in the ground of $4,000,000.00, which is being provided through the consortium with Digital (https://www.digitalsupercluster.ca/projects/data-driven-surgical-mining).
These guidance imaging drill holes will be initiated within the west region of the Jaclyn Main Zone targeting gold bearing veins to approximately 100 meters vertical depth.
Great Atlantic confirmed high-grade gold in quartz veins in the west region of the Jaclyn Main Zone during 2019 and 2021 diamond drilling programs, including near surface intercepts (core length) of 113.07 grams / tonne (g/t) gold over 0.55 meters and 61.35 g/t gold over 2.04 meters that are located within the area of the Company's current resource.
The planned bulk sample at the Jaclyn Main Zone will be approximately 2,700 tonnes, to be extracted using a precision mining method, powered by Novamera's proprietary Surgical Mining technologies. The program at the Jaclyn Main Zone is being 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 at https://www.digitalsupercluster.ca/projects/data-driven-surgical-mining.
Great Atlantic 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) (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.). The reported inferred mineral resource estimate for the Jaclyn Main Zone is as follows:
The Golden Promise Gold Property is the largest and most advanced of eight 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. (TSX: CXB; OTCQX: CXBMF) 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.
Contact:
Mr. Christopher R. Anderson
President CEO Director
Tel: 604-488-3900
Email: IR@GreatAtlanticResources.com
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.
CALIBRE MINING CORP. 
