17 April 2024
Vancouver, BC –April 17, 2024 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce that deep drill hole GTCM24-056, which started in early February targeting the Campbell Shear (past production of 5.1 Moz @ 16 g/t) at depth below the Con Mine workings, has intersected the Con Shear from 1366-1405 metres, a secondary shear structure with a past production of 1 Moz at 20 g/t gold (refer to the Oct. 21, 2022 Technical Report). In addition, the hole has uncovered new gold mineralization ranging up to 13.90 g/t Au over 0.60 metres in the hanging wall granite host of the Con shear at multiple downhole depths (478.30 to 546 metres & at 748 metres).
The Con shear Deposit is located approximately one km west in the hanging wall of the main Campbell shear target on the Con Mine Option Property (CMO). Hole GTCM24-056 is currently at approximately 1,481 metres and progressing well towards the Campbell Shear target, expected at approximately downhole depth of 2700 metres. The CMO Property is under option from subsidiaries of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property Option agreement, as reported in the Company's news release dated November 22, 2021.
Chairman and CEO, Gerald Panneton, commented, "Hole GTCM24-056 is now progressing well on its way to intersecting our prime target, the Campbell Shear, which produced 5.1 million ounces of gold at an average grade of 16 g/t. The Con shear intersection and the gold bearing quartz veining in the granite higher up in GTCM24-056 confirm the untested endowment of gold in this hanging wall area. The under-explored Campbell Shear and subsidiary shear zones such as the Con shear illustrate the large potential to find multiple gold deposits in gold camps such as Timmins, Red Lake, Cadillac/Larder Lake and Val d’Or, and as in these most prolific and highest-grade gold camps, that component is what attracted Gold Terra to explore this highly potential area.”
Con Shear Intersection
Hole GTCM24-056 has intersected the Con Shear from 1366-1405 metres. The Con Shear intersection is notably marked by intense silicification of mafic volcanic and intermediate intrusive rocks. A large quartz vein is present along the intermediate intrusive-mafic volcanic contact and numerous white to smoky grey quartz veins with pyrite mineralization exist within the strongly silicified and sheared zone. The shearing over the interval is intermittent but strong when present.