Gold Terra is Starting a Second Deep Drill Hole below the High-Grade Campbell Shear Gold Deposit, Con Mine Option Property, NWT
7 February 2024
VANCOUVER, BC / ACCESSWIRE / February 7, 2024 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company") announces the start of a second deep drill hole to continue establishing the extension of high-grade gold mineralization in the Campbell Shear (CS) below the Con Mine underground workings on the Con Mine Option (CMO). 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.
Deep Drilling Update
Our first deep drill hole, GTCM23-055, was a success in confirming gold mineralization 200 metres below existing underground workings and extending the CS with a typical gold intersection of 12.73 g/t Au over 1.7 metres. While the drilling operator was completing a lateral wedge from this master hole targeting the CS some 75 metres north of the first intersection, the drilling operator made a mistake with setting up a second wedge, and the hole had to be abandoned. As a result, it was decided to start a second deeper hole approximately 600 metres below the Robertson shaft (1,900 metres below surface), to test a larger area for gold mineralization in the CS as shown in Figure 1 below. The second deep drill hole is estimated to intersect the CS, some 600 metres below the underground workings, which will allow the company a bigger area to add multiple wedges, and intersections of the CS.
Chairman and CEO, Gerald Panneton, commented, "After successfully confirming the extension of the high-grade Campbell Shear zone 200 metres vertically below the Robertson shaft with hole GTCM23-055, we are moving the drill to a new location for a second deep hole. We look forward to completing another successful deep drill hole to intersect both the Con Shear which produced 1 Moz @ 20 g/t Au as well as our primary target, the Campbell Shear (CS) which produced 5.1 million ounces of gold at an average grade of 16 g/t from the Con Mine."
Figure 1 - Section showing Campbell Shear intersection: (section is looking approx. north)