18 September 2023
Vancouver, BC –Sept 18, 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce that the deep drilling program to test for gold mineralization on the Con Mine Option Property has resumed. Hole GTCM23-055 was stopped at 1,900 metres on the Yellowknife wildfire evacuation order. The hole is targeted to intersect the down plunge extension of the prolific Campbell Shear zone 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.
Chairman and CEO, Gerald Panneton, commented, "We are very pleased for the safe return of everyone in Yellowknife, as well as our geological team and drilling contractor. It has been a very difficult time for all residents of Yellowknife. We thank everyone that stayed behind to safeguard Yellowknife. As the deep drill hole has resumed, we expect the Campbell Shear to be intersected in the next 2 to 3 weeks with assays to follow.”
Watch the Latest Interview
BTV is featuring Gold Terra on the BNN Bloomberg Channel. Watch the latest interview with Chairman and CEO, Gerald Panneton at Gold Terra Resource Corp. on the strategy to discover gold on the Company’s vast landing holdings covering approximately 900 square kilometers in the Yellowknife gold belt.
The focus of the 2023 drilling program is to expand the September 2022 initial Mineral Resource Estimate (“MRE”) (see September 7, 2022, press release) of 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between surface and to a depth of 400 metres below surface along a 2-kilometre corridor of the Campbell Shear. Refer to the October 21, 2022 technical report, titled "Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" with an effective date of September 2, 2022, by Qualified Person, Allan Armitage, Ph. D., P. Geo., SGS Geological Services, which can be found on the Company's website at https://www.goldterracorp.com and on SEDAR at www.sedar.com.