11 January 2022
VANCOUVER, BC / ACCESSWIRE / January 11, 2022 / Gold Terra Resource Corp. (TSXV:YGT) (FRA:TX0) (OTCQX:YGTFF) ("Gold Terra" or the "Company") is pleased to announce positive assay results for drill hole GTCM21-022 drilled as part of the 2021 drilling program on the Yellorex Zone at the Con Mine Property ("Con Mine Option"), recently optioned from Newmont Canada FN Holdings ULC and Miramar Northern Mining Ltd., both wholly owned subsidiaries of Newmont Corporation. Drill hole GTCM21-022 intersected two (2) exceptional zones of 19.74g/t gold ("Au") over 5.44 metres at 273.34 metres down the hole (includes only one assay above 30 g/t Au, or 43.2 g/t over 1 metre), and a second wider zone of 4.16 g/t Au over 11.23 metres including 10.12 g/t over 3.73 metres at 251.77 metres. These two high-grade intersections extend the gold-bearing zone by more than 50 metres along strike, to the north-east limit of the Yellorex Zone. Assays are pending for the last four holes, GTCM21-023 to 026 (see Figure 3).
Chairman and CEO, Gerald Panneton, commented, "The assay results from hole GTCM21-022 confirm our geological model of high-grade mineralized zones within the Campbell Shear. With our 2021 drilling program, all holes were designed to test the Yellorex Zone along strike and at depth and the results have successfully extended the strike length and depth extension. We are confident that our upcoming 2022 drill program will continue to define continuity of the mineralized zones at depth and along strike, and in new unexplored areas at depth and between the Yellorex deposit and the former Con Mine. The Campbell shear target is proving success in delineating more quality high-grade ounces and confirming good high-grade continuity."
Investor Update Webinar
Please join Gerald Panneton, Chairman & Chief Executive Officer on Jan 12, 2022, at 02:00 PM Eastern Time (US and Canada) for an update on the 2021 drilling results, the upcoming 2022 drilling, and the corporate changes at Gold Terra. Please register at the following link:
Drilling Results
Most of the high-grade zones intersected in holes GTCM21-003, GTCM21-005, GTCM21-014 and GTCM21-020 occur along an axis as shown in cross-section Figure 2. Hole GTCM21-022 was drilled about 50 metres north of that central axis and extends the high-grade mineralized zone to the north. The hole intersected a wide sericite alteration zone which includes several pyrite and arsenopyrite stringers. The high-grade gold intersections are concentrated into two specific zones which consist of thick smoky quartz veins with arsenopyrite, pyrite and minor stibnite and sphalerite.
A complete table of drill intersections for hole GTCM21-022 is shown in Table 1:
Table 1: GTCM21-022 intersections
The 2021 drill program of 26 holes totaling 12,687 metres was completed on December 18th targeting the Campbell Shear over a strike length of 3 kilometres immediately south of the former Con Mine (1938-2003). The Campbell shear target and gold mineralization were intersected in all the holes of the 2021 program illustrating the continuity of the structure and identifying typical gold zoning similar to the former Con Mine gold mineralization.
Drilling is expected to resume on/or close to January 10th, 2022, with one drill which can reach depths down to 1,500 metres, followed by a second drill around January 20th. The Company intends to drill approximately 40,000 metres in 2022, subject to success and subsequent financing. The objective of the drilling is to delineate a high-grade gold mineral resource to add to the Company's current 1.2 million inferred ounces (See the technical report, titled "Technical Report on the 2021 Updated Mineral Resource Estimates, Northbelt Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" with an effective date of March 14, 2021, which can be found on the Company's website at https://www.goldterracorp.com and on SEDAR at www.sedar.com) and ultimately advance towards an economic study.
Click here for complete release with tables and figures.