Gold Terra posts assays of 8.2 g/t gold over 20.35 metres in Yellorex Area, Con Mine property, Yellowknife, Northwest Territories
Gold Terra Resource Corp. [TSXV: YGT; Frankfurt: TX0; OTCQB: YGTFF] reported assay results from the first seven holes of the 2026 Winter Drill Program at Con Mine property targeting the Yellorex zone immediately south of the past producing Campbell Shear (CS), historic Con Mine (1938-2003), Northwest Territories.
The current drilling program aims at confirming some historical holes to expand Gold Terra’s near surface 2022 Mineral Resource Estimate (MRE) on the Con Mine Option property. Assay results include drill hole GTY26-001 that intersected 8.20 g/t Au over 20.35 metres from 242.5 metres to 262.85 metres downhole, including 18.7 g/t over 6.8 metres starting at 254.75 metres
Under the Con Mine option (CMO) purchase agreement, the company has the right to acquire 100% of the CMO property from a subsidiary of Newmont Corp. Gold Terra’s option on the CMO with Newmont is until November 21, 2027.
Chairman and CEO, Gerald Panneton, commented, “With Gold Terra’s last MRE completed in 2022 based on a US$ 1,750/oz gold price, our winter drill program of 10,000 metres in the Yellorex area of the Campbell Shear (CS) will be looking to confirm and expand Gold Terra’s estimate of the near surface resource from surface to 500 metres below surface on the CMO property. This first batch of drill results confirm the potential continuity of the zone, as Gold Terra requires additional holes to seek more ounces in the indicated category. The Campbell Shear structure is our highest priority target as the Con Mine produced historically more than 5 million ounces of high-grade gold (16 g/t Au).”
All Yellorex drill holes intersected the Campbell Shear, characterized by quartz-ankerite and smoky quartz veining with strong sericite-dominated alteration, being one key parameter for gold mineralization in the CS. The main geological host is meta volcanic.
The Yellorex area drilling targets are where the company has already outlined a Mineral Resource Estimates (MRE) in 2022, and where there is potential for additional ounces to be added between surface and 700 metres depth. The drilling targets include the Yellorex Main Zone (YRX): Holes already drilled on 30-50 metre spacing in 2021-2022 account for more than 65% of the 2022 MRE calculated by Gold Terra.
Yellorex North (YRX-N) was drilled in 2023, and was not included in the Company’s 2022 MRE. C17 and the 3100′ level-part of the Campbell Shear south of the main mine workings, drilled historically from the 2300′ and 3100′ levels with some historic untested assays reported in the Campbell Shear.
The current 2026 winter program in the Yellorex area is progressing very well with two rigs having completed 23 holes and 8,000 metres to date.
SLR Consulting is progressing very well with Gold Terra’s updated MRE being aimed for completion in March 2026. The updated MRE will not include the 2026 drill program results but will seek to add the 103 North zone.
Drill holes were drilled at right angles to the structure hosting the mineralization and dip angles of holes were designed to intersect the zones as close to normal as possible. Zones reported here are interpreted to be approximately 90 percent true thickness.
The Yellowknife Project (YP) encompasses 836 km2 of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 km of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople.
Gold Terra is currently focusing its drilling on the Campbell Shear, where approximately 14 Moz of gold has been produced and most recently on the CMO property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).
The YP and CMO properties lie on the Yellowknife greenstone belt, covering nearly 70 km of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company’s exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the company’s objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.