Great Atlantic qualifies for funding to explore gold project in Newfoundland
Great Atlantic Resources (TSXV:GR) announced that it has qualified for some funding through the Junior Exploration Assistance Program sponsored by the Newfoundland and Labrador government, in Canada’s Atlantic region.
In a press release, Great Atlantic said the funding would allow its field team to continue exploring high-priority targets within its Golden Promise property, located within the central Newfoundland gold belt.
Great Atlantic says that gold-bearing quartz veins are reported in multiple areas on the property
According to the Vancouver-based miner, the objective of its current prospecting and geochemical sampling campaign is to further define trenching and drilling targets in areas that show gold-bearing quartz vein float or bedrock, and gold soil anomalies, which were identified between 2017 and 2018.
Golden Promise lies along the north-northwestern fringe of the Victoria Lake Supergroup, a volcano-sedimentary terrain. Great Atlantic reports that the northwestern margin of the property occurs proximal to a major collisional boundary and suture zone known as the Red Indian Line, where recent significant gold discoveries include those of Sokoman Minerals (TSXV.SIC) at the Moosehead gold project and Marathon Gold (TSXV.MOZ) at the Valentine Lake gold camp.
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