6 April 2022
April 6, 2022, Vancouver, B.C. – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTC QX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce assay results for three (3) holes to test the Yellorex zone. Drill hole GTCM22-030 intersected 6.41/t gold over 26.50 metres including 9.05 g/t over 4.00 metres and including 10.66 g/t gold over 3.0 metres and including 14.15 g/t gold over 5.50 metres. The hole was drilled along strike on the Campbell Shear for metallurgical testing required for the Company’s upcoming updated resource estimate on the project. The Yellorex zone is situated on the Con Mine Property recently optioned from Newmont Canada FN Holdings ULC and Miramar Northern Mining Ltd., both wholly owned subsidiaries of Newmont Corporation (see November 22, 2021 press release). Holes GTCM22-027 and GTCM22-028 were drilled to test the Yellorex zone at depth of 400m below surface with GTCM22-028 intersecting 6.21g/t gold over 1.5 metres and GTCM22-027 intersecting 2.43 g/t gold over 1.0 metre.
Chairman and CEO, Gerald Panneton, commented, “The latest drilling on the Yellorex zone was completed in preparation for our updated mineral resource estimate by year-end as the core from Hole 30 will be used for metallurgical testing. Our updated mineral resource estimate is expected to add ounces from the Yellorex zone.”
The location of holes GTCM21-027,28 and 30 is shown in the following Figure 1:
Hole GTCM22-030 was drilled as an ‘off-angle’ hole obliquely to the strike of the Campbell Shear to confirm the interpreted geometry of the Yellorex deposit’s strike and plunge. The interpreted zone orientation was confirmed, and three high-grade lenses were intersected consisting of smoky quartz veins with arsenopyrite and pyrite with minor sphalerite and stibnite. The sericite alteration halo surrounding the high-grade lenses is intensive and extends from 237 to 587 metres along the hole. The recognition of an extensive alteration halo signature extending for more than 200 metres along strike around a high-grade mineralized zone is significant for the future exploration of the Campbell Shear. This will allow Gold Terra to test the shear at a larger (200-metre) spacing using the signature alteration halo as a tool to vector into high grade lenses such as Yellorex. The excellent intersection of 26.5 metres of ore typical of the Campbell shear in hole GTCM22-030 will provide more core volume for the metallurgical testing. The historical recovery of more than 5 million ounces of gold at the Con Mine averaged around 90% over the years it was in production.
Holes GTCM22-027 and GTCM22-028 tested the Yellorex deposit at depth and are believed to be off the main plunge of hole GTCM21-014 which intersected 5.22 g/t over 17.86 metres including 11.2 g/t gold over 4.57 metres (press release September 7, 2021). Both holes intersected the Campbell Shear at about 400 to 500 metres and minor mineralized zones consisting of arsenopyrite and pyrite stringers within a sericite alteration zone. Both holes intersected the alteration halo surrounding the Yellorex main deposit, which contains anomalous gold values in the 100ppb range over a width of approximately 100 metres. These holes are consistent with previous intersections just outside of the main high-grade plunge, typical of the Campbell shear zone.
A table of significant drill intersections for holes GTCM22-027, 028 and 030 are shown in Table 1:
See full release here for figures and tables.