Gold Terra Begins 2022 Drilling Program on High-Grade Campbell Shear Extension South of the Past Producing Con Mine, NWT
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Gold Terra Begins 2022 Drilling Program
on High-Grade Campbell Shear Extension South of the Past Producing Con Mine, NWT
January 31, 2022, 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 2022 drilling program
commenced on January 20th to test the Campbell Shear south of the Con Mine Property which was
recently optioned from Newmont Canada FN Holdings ULC and Miramar Northern Mining Ltd., both
wholly owned subsidiaries of Newmont Corporation. The proposed 2022 drilling area is shown in Figure
1. Drilling will continue to test the down dip extension of the Yellorex Zone mineralization where recent
drill hole GTCM21-022 intersected two high-grade zones of 19.74g/t gold (“Au”) over 5.44 metres and a
second wider zone of 4.16 g/t Au over 11.23 metres including 10.12 g/t Au over 3.73 metres (see January
11, 2022 news release). Assays are currently pending for the last four holes of the 2021 drilling program,
GTCM21-023 to 026.
Chairman and CEO, Gerald Panneton, commented, “The 2022 drilling targeting the Campbell Shear is our
highest priority area to potentially add high grade ounces to our current YCG resource. The proposed 2022
drilling program will be targeting the deeper extension of the Campbell shear at depth of -1000 metres
below surface in the direct extension of the past producing Con Mine. A second drill will be added to the
program to continue the definition of the Yellorex zone on a 50 metre spacing.
Drilling Program Highlights
Figure 1 – Campbell Shear 2022 Drilling Program, Long Section (looking West)
The 2022 drilling program is a continuation of successful drilling that has defined gold mineralization in
the Campbell Shear. In 2021 the drill program completed 12,687 metres in 26 holes targeting the Campbell
Shear over a strike length of 3 kilometres immediately south of the former Con between surface and 400
metres below surface
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In November 2021, the Company announced a new agreement with Newmont that allows the Company
to earn 100% interest on the overall Con Mine property, which represent 100% access to explore the
Campbell Shear. The 2022 drill program will continue to target high -grade gold mineralization in the
Campbell Shear south of the Con Mine (See November 22, 2021 press release).
The Company intends to drill approximately 20,000 metres in the first half of 2022 and will be adding
more drilling as the program is successful. The objective of the drilling is to delineate a high -grade gold
mineral resource to add to the Company’s current 1.2 million inferred ounces (See the technical report,
titled "Technical Report on the 2021 Updated Mineral Resource Estimates, Northbelt Property,
Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" with an effective date of March
14, 2021, which can be found on the Company's website at https://www.goldterracorp.com and on
SEDAR at www.sedar.com) and ultimately advance towards an economic study.
Campbell Shear Structure
Figure 2 – Campbell Shear
At the former Con Mine, the Campbell Shear , shown in Figure 2, hosted 5.1 of the 6 million ounces
produced between 1938 -2005. The Campbell Shear zone is within secondary and tertiary structures
associated with a large district -scale structure, the Yellowknife River Fault Zone (“YRFZ”), that straddles
the YCG property over 67 km s of strike length on the southern and northern extensions. The YRFZ is
thought to be the extent equivalent of other prolific gold camps in the Abitibi, such as the Destor -
Porcupine and the Larder Lake -Cadillac Fault zones. The Campbell Shear zone and associated structures
such as the Con Shear are exceptional due to the high -grade nature of the lode deposits (approximately
20 g/t Au at the Con Shear, and 15 g/t at the Campbell Shear).
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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. 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).
The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres 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:
Gerald Panneton, Chairman and CEO
Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
Neither the TSX Venture Exchange nor its Regulation Serv ices 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 u se of forward-looking
terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled",
"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 taken", "occur" or "be achieved" or the negative connotations
thereof.
All statements other than statements of historical fact may be forwa rd-looking information. Forward -
looking information is necessarily based on estimates and assumptions that are inherently 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 th e Newmont Con Mine Option
potentially adding high grade ounces to the Company’s current YCG mineral resource, future planned
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drilling on the Con Mine 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 wo uld cause actual results to
differ materially from those contained in forward -looking information, there may 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 assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such stat ements. All of the forward -looking
information contained in this news release is qualified by these cautionary statements. Readers are
cautioned not to place undue reliance on forward -looking information due to the inherent uncertainty
thereof. Except as r equired under applicable securities legislation and regulations applicable to the
Company, the Company does not intend, and does not assume any obligation, to update this forward -
looking information.