25 October 2023
Vancouver, BC –Oct. 25, 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce that drill hole GTCM23-055 has successfully intersected over 60 metres of the gold-bearing Campbell Shear from a downhole depth of 2,075 to 2,135 metres. The hole was shutdown at a final downhole depth of 2,228 metres from surface. The hole was designed to test for gold mineralization below the Con Mine underground workings on the Con Mine Option (CMO) Property. The CMO Property is under option from subsidiaries of Newmont Corporation and is 100% 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.
Within the 60 metre Campbell Shear (CS) intersection, approximately 30 metres of the CS (see Figure 1) within the footwall of the structure displays strong shear fabric, sericite alteration, prominent quartz veining (see Figure 2) and typical 1 to 5% sulphide mineralization including pyrite, pyrrhotite, and traces of sphalerite, stibnite and arsenopyrite. A mineralized laminated quartz vein (see Figure 3) at 2,116 metres contains fine specks of visible gold (see Figure 4). Samples from the zone have been submitted for laboratory analysis and results are pending.
Chairman and CEO, Gerald Panneton, commented, "We are excited to have achieved our 1st objective on the extension of the high-grade gold bearing Campbell Shear in hole GTCM23-055, some 200 metres below the existing Con Mine underground workings. It is a major technical success to delineate a 30-metre intersection of prominent quartz veining and sulphide mineralization as well as the presence of visible gold. On comparing our intersection with historic intersections in the closest underground drilling, such as in historical hole 7940, we see major similarities to the current intersection some 250 metres above. This is indicative of the continuation of gold mineralization within the shear below the former Con Mine where 5.1 million ounces of gold was produced at an average grade of 16 g/t. We will be now stepping up from our master/parent hole to add more intersections within a radius of 50 to 100 metres laterally and eventually up-dip from our successful first intersection.”
The Quick Log of the CS section in hole GTCM23-055 is as follows with core photos shown in Figures 2,3 and 4 further below: