Gold Terra drills 8 g/t gold over 11 metres at Con mine, Northwest Territories

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Gold Terra Resource Corp. [YGT-TSXV; YGTFF-OTCQX; TX0-FSE] has started its summer drilling program, as well as released the remaining assay results on the Campbell shear winter drilling program designed to test the Campbell shear along strike south of the former producing Con mine and at depths of approximately 1,000 metres at 200-metre drill spacing. The YCG project encompasses 800 km2 of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. High-grade gold mineralization was intersected in multiple targeted zones as per the results below, which include new assay results for hole GTCM22-039, an initial hole drilled at Yellorex North.

Highlight from 2022 winter drilling includes 8 g/t gold over 11.00 metres in drill hole GTCM22-040 in the Tellorex Zone. GTCM22-039 returned 3.31 g/t gold over 6.00 metres in the Yellorex North Zone. GTCN22-037 returned 1.60 g/t gold over 14.57 metres in the Y-88 Zone. GTCM22-029 returned3.61 g/t gold over 4.55 g/t gold in the Con Shear Zone.

Chairman and CEO, Gerald Panneton, commented, “The 2022 winter drilling program results along the southern extension of the Campbell Shear shows multiple mineralized zones which demonstrate great potential for additional ounces on the Con Option Property. We have now completed 22,491 meters of drilling on the Campbell Shear since September 2020 and as we are working on a mineral resource update for early Q4 2022, the Campbell Shear remains our focus and the best target on our properties.”

Drilling on the Campbell Shear will continue this summer to follow-up on the winter program’s positive results. Drilling will continue to test the Y-88 Zone with 50-metre spaced wedges drilled from hole GTCM22-037, which intersected strong alteration and gold mineralization indicative of proximity to high-grade lodes. The planned wedges off GTCM22-037 are designed to test both strike and dip extensions of those lodes. The summer drilling program commenced in mid-July, 2022. Compilation of assay results from the drilling indicate possible mineralized trends that will be tested further in the summer drilling program.

Fifteen diamond drill holes were completed for a total of 8,327.96 metres between January 20 and May 13, 2022. Four gold targets were tested: Yellorex Main (6 holes), Yellorex North (1 hole), Campbell Shear/Con Shear (6 holes), and Y-88 Zone (2 holes) which tested the Campbell Shear at a depth below 1,000 metres where historic drill hole Y-88 intersected high-grade gold mineralization.

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 YCG 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 prolific Campbell shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option claims immediately south of the past producing Con Mine (1938-2003).


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