Great Atlantic Resources (TSXV: GR) announced that its wholly owned subsidiary, Golden Promise Mines, obtained approval from the Newfoundland and Labrador government to conduct diamond drilling at the Golden Promise property. The approval permits up to thirty-three drill holes (approximately 8,000 metres) at the Jaclyn Zone. Golden Promise Mines owns six central Newfoundland and Labrador gold properties, and the Golden Promise property stands as the largest and most advanced.
The Golden Promise Mines property hosts multiple gold-bearing quartz veins and vein systems with high-grade gold. Between 2019 and 2024, company drilling revealed multiple drill intercepts that exceeded one ounce of gold per tonne.
The approval allows Golden Promise Mines to conduct diamond drilling (up to thirty-three drill holes) in several areas, including the gold-bearing Jaclyn Main Zone (JMZ), the gold-bearing Jaclyn North Zone (JNZ), a target area immediately north of the JMZ, and the area east-northeast of the JNZ. The company plans to initiate diamond drilling during 2025–2026 under this approval, which remains valid until April 4, 2027.
Golden Promise Mines intersected high-grade quartz veins at the JMZ during drilling programs carried out in 2019, 2021, and 2024. These efforts yielded numerous intercepts surpassing one ounce per tonne of gold. In late 2018, the company reported a National Instrument 43-101 compliant inferred resource estimate for the JMZ, totaling 357,500 tonnes at 10.4 g/t gold (119,900 inferred ounces of gold, uncapped).
The approval grants permission for drilling in the central to eastern regions of the JMZ, where previous diamond drilling has been limited. The planned drilling aims to expand the JMZ’s inferred resources. Once this drilling is complete, Great Atlantic intends to produce an updated NI 43-101 technical report and resource estimate.
More information is posted on www.GreatAtlanticResources.com.
