Gold Terra announces its drilling program for summer 2020 -targeting high-grade gold mineralization at its Yellowknife City Gold Project, NWT
21 July 2020
News Release: VANCOUVER, BC / ACCESSWIRE / July 21, 2020 / Gold Terra Resource Corp. (TSXV:YGT)(OTC PINK:TRXXF) (FRA:TX0) ("Gold Terra" or the "Company) is pleased to announce its plan to start a fully-funded 10,000 metre drilling program in mid-August 2020, testing high-grade gold targets at its wholly-owned Yellowknife City Gold project ("YCG") in the Northwest Territories.
The first phase of drilling will focus on the high-grade Crestaurum gold deposit (Link to location map), which is accessible all year around by road, with the objective of expanding the current NI 43-101 inferred mineral resource estimate of 735,000 ounces of gold for the YCG project (Refer to news release dated November 4, 2019). Following completion of this drilling, the Company will start drilling targets on the high-grade Campbell Shear, which extends on the Company's property both north and south of the former Con and Giants, which have produced over 14 million ounces of gold (Refer to news release dated June 2, 2020).
David Suda, President and CEO, stated, "We are on the cusp of a turning point for 2020 drilling as we now turn our focus on drilling the high-grade Crestaurum deposit and the high-grade Campbell Shear structure. We are confident in the potential to expand the Crestaurum deposit along strike and at depth and very excited about the potential of a discovery along the Campbell Shear structure."
In this first phase, the Company plans to drill seven (7) holes totaling 3,700 metres over a strike length of more than 1 kilometre to test the depth extension of the Crestaurum deposit to 400 metres below surface, approximately 200 metres below the current resource limit, and to test the Daigle fault offset (Link to long section). Additional holes will be added subject to the success of this ongoing program.
The Crestarum deposit extends for a strike length of 1.5 kilometres. Significant high-grade gold intercepts above the 200 metre level from prior drilling programs included: 62.9 g/t over 5 metres (DDH85-150), 20.7 g/t over 5 metres (DDH85-187), and 10.2 g/t Au over 7 metres (TCR15-003).
The technical information contained in this news release has been approved by Joseph Campbell who is a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Gold Terra's Yellowknife City Gold Project
The YCG project encompasses 790 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople.
The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.