27 February 2025
Vancouver, BC – February 27, 2025 – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTCQX: YGTFF) (“Gold Terra” or the “Company”) is pleased to report that the 2025 control drilling is progressing well on the Con Mine Option (CMO) Property. The first steel wedge hole GTCM25-056A, designed to target the prolific Campbell Shear (CS) from master hole GTCM24-056, was set at 1,950 metres downhole and has now reached approximately 2,162 metres depth in mafic volcanics. It is anticipated to intersect the CS at approximately 2,600 metres downhole and approximately 600 metres below the underground mine workings.
The objective of the 2025 wedge hole drilling program is to continue testing for high-grade gold in the CS (past production of 5.1 Moz @ 16 g/t, refer to the Oct. 21, 2022 Technical Report) on the Con Mine below the historic Con Mine underground workings. The CMO Property is under option from a subsidiary of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO Property Option agreement, as reported in the Company's news release dated November 22, 2021. The target is located downdip from the 5.1 Moz mined gold deposit plunging steeply to the south between elevation 1,900 metres (Robertson shaft depth) and 2,600 metres.
Chairman and CEO, Gerald Panneton, commented, "The wedge drilling is progressing well utilizing a very efficient and cost-effective way to assess the CS at depth. The objective of our first wedge hole is to intersect the CS and extend the high-grade gold potential at a vertical depth of 2,500-2,600 metres below surface, or approximately 600 metres below the current depth of the Robertson Shaft. Once we complete the first wedge, we will step up laterally 30-50 metres on each side of the first intersection. This target below the Robertson shaft has the potential for multi-million ounces as we are down plunge from a 5.1 Moz deposit @ 16 g/t Au mined historically at a rate of 1 Moz per 200 metres vertical on average.”