Gold Terra Expands High-Grade MP-Ryan Zone with 31.89 g/t Au over 3 metres including 69.4 g/t Au over 1 metre, Northbelt Mispickel area, Yellowknife, NWT
8 June 2022
June 7, 2022, Vancouver, B.C. – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTC QX: YGTFF) (“Gold Terra” or the “Company”) today announced assay results for three (3) additional drill holes, GTCM22-004, 008 and 014 designed to expand high grade mineralization in the Mispickel area. Drilling continues to extend gold mineralization in the new high-grade MP-Ryan Zone, a second zone situated west of the main Mispickel area that has the potential to add ounces to the original Mispickel zone, with both zones near surface. To date, the Company has released 8 holes out of the 19-hole winter program which totals 6011 metres.
Significant intersections for the three holes in the MP-Ryan Zone include:
- GTWL22-014- intersected 31.89 g/t gold (Au) over 3 metres including 69.4 g/t Au over 1 metre
- GTWL22-004 – intersected 7.63 g/t gold over 3 meters, including a visible gold-bearing vein which returned 22.5 g/t Au over 1 meter
- GTWL22-008 - intersected 4.17 g/t Au over 6 meters, including 11.35 g/t Au over 1 meter, and including 11.8 g/t Au over 1 meter
Chairman and CEO, Gerald Panneton, commented, “These high-grade drill results indicate that the MP-Ryan Zone is developing into a new high-grade gold zone approximately 100 to 150m west of the main Mispickel area. This additional high-grade gold zone is a great indication of a larger system than previously thought in this area and opens up the whole area for other significant high-grade discoveries. The Mispickel area will be part of our updated NI 43-101 resource scheduled to be announced in Q4 of this year. The Mispickel area is situated 20 kilometres north of Yellowknife and complements our flagship Con Mine Property where we are currently drilling at depth along the Campbell Shear south of the Con.”
This drilling program of 19 holes totaling 6,011 metres was part of a small winter program in the northern part of the Company’s Yellowknife City Gold Project. At least ten (10) holes have intersected visible gold (VG) in a wide sheared vertical structure currently extended over a minimum strike length of at least 450 metres. Assays are pending for all the remaining 11 holes.
The Company’s 2022 primary drilling program remains focused on testing the continuity of the mineralized zones within the Campbell shear south of the former Con Mine with the objective of adding high-grade ounces to the current 1.2 Moz inferred resources (see March 31, 2021 Technical Report). Following closure of the winter program, the company is continuing its drilling on the Campbell shear structure south of the former Con Mine which produced 6.1 Moz (1938-2003).
Hole GTWL22-004 intersected a zone of moderately sheared silty bedding with argillitic intervals hosting increased mineralization and veining. Visible gold is present in a small (4 cm) quartz vein from 57-60 metres returning 7.63 g/t Au over 3 metres, including a visible gold-bearing vein which returned 22.5 g/t Au over 1 metre.
A second zone from 84.5-93.5 metres also returned anomalous gold values with 0.96 g/t Au over 9 metres, including 2.47 g/t Au over 1.5 metres, and 4.27 g/t Au over 1 metre.
VG in hole GTWL22-004 is shown in the following Figure 2 and all pictures can be found on the Company website at www.goldterracorp.com.
GTWL22-008 was drilled on the same northing as hole GTWL22-004 and was designed to intersect the Footwall, Main, and Hanging Wall Zones. Anomalous gold was intersected in all three zones.
- Footwall zone - The hole intersected broad zones of anomalous gold mineralization from 44 to 98 metres containing 4.17 g/t Au over 6 metres, and including 11.35 g/t Au over 1 metre and 11.8 g/t Au over 1 metre. The Footwall Zone contains sub-centimeter smoky laminated quartz veins with spotty chlorite along vein selvages with a halo of medium grained arsenopyrite in the host rock adjacent to veining. There were three grains of gold in smoky quartz ranging from matchhead to pinhead at 78.3 metres.
- Main Zone – The hole intersected 0.37 g/t Au over 18 metres from 109-127 metres with similar veining and mineralization to the Footwall Zone.
- Hanging Wall Zone - An interval of pale to smoky grey quartz veining with minor fine and needle to coarse arsenopyrite ± pyrrhotite in the pressure shadows was encountered from 324-333 metres. This includes 0.74 g/t Au over 9 metres, including 1.75 g/t Au over 3 metres from 326-329 metres.
GTWL22-014 - The Hole was drilled to expand on the newly discovered zone from hole GTWL22-007 (May 5, 2022 press release). This hole is approximately 30 metres along-strike to the south from hole 007. The hole intersected zones of strong mineralization and quartz veining, similar to what is observed in Mispickel proper.
- An intersection of smoky veining from 43-46 metres contains a large pale to smoky quartz vein with multiple grains of visible gold along small fractures in the vein. The vein is mineralized with arsenopyrite, pyrite ± sphalerite and contains small sections of patchy chlorite. This intersection grades 31.89 g/t Au over 3 metres, including 69.4 g/t Au over 1 metre.
- An intersection from 81-89 metres that contains 15% dark smoky grey quartz veining with pyrrhotite, pyrite, and arsenopyrite mineralization grades 1.15 g/t Au over 8 metres, including 2.54 g/t Au over 3 metres.
- A zone from 138-140 metres with narrow quartz veins and minor arsenopyrite in argillitic rocks grades 1.79 g/t Au over 2 metres.
Drilling in the new MP-Ryan Zone is extending the zone along a 500-metre-high grade trend which remains open in all directions. During the winter 2022 program 6,011 metres have been drilled in 19 holes. Logging and sampling are ongoing, with completion of sample shipments expected by the end of June. The location of drill holes in the MP-Ryan Zone are shown in the following Figure 5.
2022 Drill Program
The Company intends to drill approximately 40,000 metres in 2022 with the objective 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.
The 2022 drill program is well underway with two rigs drilling the Campbell Shear south of the former high-grade Con Mine, with one deep drill rig targeting the Campbell Shear at a depth of approximately 1000 metres below surface and at a 200-metre spacing. A second drill rig is allocated to test the Campbell shear, north of Yellorex zone which was not part of the original agreement with Newmont (September 2020) but is now part of the updated agreement (November 2021) covering all Newmont claims and leases over the former Con Mine area.
See complete release here.