Gold Terra Intersects 12.93 g/t Gold over 1.7 Metres in the Campbell Shear 200 metres below the Con Deposit, Con Mine Option Property, NWT
15 November 2023
Vancouver, BC –Nov. 15, 2023 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce that assay results including 12.93 g/t Au over 1.7 metres in drill hole GTCM23-055 confirm the extension of high-grade gold mineralization in the Campbell Shear (CS) 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.
Chairman and CEO, Gerald Panneton, commented; “The results from drill hole GTCM23-055 have confirmed our interpretation and given us great confidence to find additional high-grade ounces at depth typical of the CS as:
- This is a 100% technical success in extending the Campbell Shear at depth,
- High grade gold has been intersected with the presence of quartz veining and alteration,
- This may be a narrow intersection, but typical of the CS structure variance in width and grade,
- This opens the entire 1-kilometre strike length with a potential for more ounces with more drilling at depth near the current bottom of the Robertson shaft (-1900 metres),
- Drilling is continuing with a lateral wedge from the Master hole targeting the CS some 75 metres north of the first intersection,
- More wedges are to be done from this Master hole in the coming months. “
The Campbell Shear was successfully intersected from a downhole depth of 2,075 to 2,137.5 metres for a total of 62.5 metres. This intersection demonstrates the continuity of this major structure below the deepest mining operations with the presence of a substantial shear structure with impressive widths (See figures 1 and 2). Approximately 30 metres of the CS within the footwall of the structure is moderately to strongly sheared and contains intermittent zones of prominent smoky quartz veining and pyrite, pyrrhotite, sphalerite, arsenopyrite, and stibnite mineralization, and most importantly high-grade gold.
A quartz vein at 2,116 metres contained fine specks of visible gold.
Assay highlights include 2.93 g/t Au over 8.2m from 2,115.8 to 2,124m, including 12.93 g/t Au over 1.7m from 2,115.8 to 2,117.5m and, including 30 (uncut) g/t Au over 0.5 metres from 2117 to 2117.5 metres.