MINING REFINING

Gold Terra resumes deep drilling program to expand gold resource

Mon Sep 18 2023

Gold Terra Resource Corp (TSX-V:YGT, OTCQX:YGTFF) said it has resumed its deep drilling program on the Con Mine property, marking a significant step forward in its quest to expand its gold resource.

The drilling program was briefly halted due to a Yellowknife wildfire evacuation order, but with the order lifted and the safety of the team ensured, operations are back on track.

The focal point of the 2023 drilling program is to extend the September 2022 initial Mineral Resource Estimate (MRE) which reported 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between the surface and a depth of 400 meters below surface along a two-kilometer stretch of the Campbell Shear zone.

"We are very pleased for the safe return of everyone in Yellowknife, as well as our geological team and drilling contractor,” CEO Gerald Panneton said in a statement.

“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 two to three weeks with assays to follow."

The Campbell shear zone has historically yielded 5.1 million ounces of gold with an average grade of 16 g/t during the operation of the Con Mine from 1938 to 2003.

The program's objective is to reach the down-plunge extension of the Campbell Shear zone at depths beneath the Con Mine deposit, which holds historical significance as a prolific gold producer.

The Con Mine property is controlled by Gold Terra through an option agreement with subsidiaries of Newmont Corporation.

Source: https://www.proactiveinvestors.com/