6 June 2023
Vancouver, BC – June 6, 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to provide an update on the deep drilling program designed to test gold mineralization at depth below the Con Mine deposit (1938-2003), where 5.1 million ounces of gold was produced at an average grade of 16 g/t. The Con Mine Option (CMO) Property is under option from subsidiaries of Newmont Corporation and is acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property agreement, as reported in the Company's news release dated November 22, 2021.
Hole GTCM23-055 intersected 22.5 metres of the Con Shear starting at 858 metres with several visible gold (VG) specks reported during logging (See figures 2, 3 and photo 1). The Con shear was mined from 1938 until the 1960’s with the C1 shaft to a depth of 800 metres and produced 1 Moz @ 20 g/t gold. The deposit was thought to be cutoff by a Granite intrusive. The current hole has demonstrated that the Con Shear is open at depth and in all directions, therefore warranting further drilling to assess its excellent potential to add ounces on the CMO.
Hole GTCM23-055 is progressing well currently at a depth of 1,135 metres towards its primary target, the Campbell Shear, at a depth of 2,000 metres where very high-grade gold intersections have been reported in historic underground drill holes.
Chairman and CEO, Gerald Panneton, commented, "Intersecting the Con Shear is a big plus for our drilling program. We are excited about the Con Shear intersection as this mineralized zone has the potential to add additional ounces to our current mineral resource, and where we already have existing infrastructure at depth.”
An update on the CMO property deep drilling program will be presented by Chairman and CEO, Gerald Panneton at the John Tumazos Very Independent Research 2023 Virtual Conference virtually on Wednesday, June 7th at 9:45am EDT. The webcast may be accessed through the Company’s website at Upcoming Events | Gold Terra Resource Corp. (goldterracorp.com). The replay will be available within 24 hours after the presentation.
Webcast Link: Please register at: https://attendee.gotowebinar.com/register/5058770965778204758. After registering, you will receive a confirmation email containing information about joining the webinar.