Gold Terra Announces Phase 2 Drilling Program on High-Grade Yellorex Gold Zone, Campbell Shear South of Con Mine, Northwest Territories
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Gold Terra Announces Phase 2 Drilling Program on High-Grade Yellorex Gold Zone, Campbell Shear
South of Con Mine, Northwest Territories
June 29, 2021, Vancouver, B.C. – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTC QX: YGTFF)
(“Gold Terra” or the “Company” ) is pleased to announce that the Company’s fully funded 10,000 metre
Phase 2 drilling program is scheduled to start on or around July14th, 2021. The drilling will test the
Campbell Shear at the Yellorex zone where significant high-grade gold zones were intersected during the
Phase 1 drilling program (14.09 g/t Au over 4.65 metres ) (see April 6, 2021 press release). The Yellorex
zone is located immediately south of the Con Mines on property optioned from Newmont Ventures
Limited and Miramar Northern Mining Limited (the "Newmont Option") and adjacent to the Yellowknife
City Gold Project ("YCG"), NWT. The objective of the drilling is to delineate a potential gold mineral
resource to add to the Company’s current 1.2 million inferred ounces (see March 16, 2021 press release)
and ultimately bring the mineral resource towards the next stages of advanced planning.
President and CEO David Suda commented, “The Phase 1 drilling results have given us confidence that we
can delineate additional high -grade ounces at Yellorex and expand our current resource of 1.2 million
ounces of gold. Our Phase 2 drilling program will further test the depth and strike extension of the Yellorex
Zone and build on our previous successes.”
Yellorex Drilling Target
The Phase 2 drilling program will concentrate on the Yellorex Zone and South Con Mine area with a 50 to
100 metre drill spacing along strike and down dip (see Figure 1).
Figure 1: Phase 2 drilling at Yellorex Zone.
Compilation work has shown that the strong sericite alteration and quartz veined gold system is dipping
to the west and steeply plunging to the south with an interpreted plunge length of more than 1.5
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kilometres. The Phase 2 drilling program will follow this plunge to test the continuity of the high-grade
gold lenses at depth and along strike (see Figure 2).
Figure 2. Longitudinal section showing Phase 2 drilling target area in Yellorex zone.
The technical information contained in this news release has been reviewed and approved by Joseph
Campbell, Chief Operating Officer, a Qualified Person as defined in National Instrument 43-101 - Standards
of Disclosure for Mineral Projects.
About Gold Terra’s Yellowknife City Gold Project
The YCG project encompasses 800 sq. km 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 kilometres 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.
The YCG lies on the prolific Yellowknife greenston e belt, covering nearly 70 kilomet res of strike length
along the main mineralized shear system that host 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.
Visit our website at www.goldterracorp.com.
For more information, please contact:
David Suda, President and CEO
Phone: 604-928-3101 | Toll-Free: 1-855-737-2684
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Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward -looking
information" within the meaning of applicable securities legislation (" forward-looking information ").
Generally, this forward-looking information can, but not always, be identified by use of forward -looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "schedule d",
"estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of
such words and phrases or statements that certain actions, events, conditions or results "will", "may",
"could", "would", "might" or "will be t aken", "occur" or "be achieved" or the negative connotations
thereof.
All statements other than statements of historical fact may be forward -looking information. Forward -
looking information is necessarily based on estimates and assumptions that are inhere ntly subject to
known and unknown risks, uncertainties and other factors that may cause the actual results, level of
activity, performance, or achievements of the Company to be materially different from those expressed
or implied by such forward-looking information. In particular, this news release contains forward-looking
information regarding the current drilling on the Campbell Shear on the Newmont Option potentially
adding high grade ounces to the Company’s current YCG mineral resource, future planned drilling on the
Newmont Option area and the Company's objective of re-establishing Yellowknife as one of the premier
gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual results
and future events could differ materially from those anticipated in this forward -looking information as a
result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and
annual information form available under the Company's profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to
differ materially from those contained in forward -looking information, there m ay be other factors that
cause results not to be as anticipated, estimated or intended. The forward-looking information contained
in this news release is based on information available to the Company as of the date of this news release.
There can be no ass urance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. All of the forward -looking
information contained in this news release is qualified by these cautio nary statements. Readers are
cautioned not to place undue reliance on forward -looking information due to the inherent uncertainty
thereof. Except as required under applicable securities legislation and regulations applicable to the
Company, the Company doe s not intend, and does not assume any obligation, to update this forward -
looking information.