Gold Terra Confirms High-Grade Intersection of 9.36 g/t Au over 3 Metres in Winter Program of Mispickel area, Yellowknife, NWT
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Gold Terra Confirms High-Grade Intersection of 9.36 g/t Au over 3 Metres in Winter Program of
Mispickel area, Yellowknife, NWT
August 25, 2022, Vancouver, B.C. – Gold Terra Resource Corp. (TSX -V: YGT; Frankfurt: TX0; OTC QX:
YGTFF) (“Gold Terra” or the “Company”) today announced final assay results for all 19 drill holes totaling
6,011 metres drilled in the Mispickel area, including a higher-grade re-run assay for hole GTWL22-004
with reported visible gold (VG) and assays results for the remaining eleven (11) holes of the program. The
2022 drilling program has successfully extended gold mineralization in the Mispickel area with the
addition of two new gold zones, MP-Ryan and Zone 14. Gold Terra plans to return to the area next winter
with more drilling to infill and extend the three high grade zones identified to date. The Mispickel area,
and multiple high grade zones are open in all directions.
Chairman and CEO, Gerald Panneton, commented, “The Mispickel area now has two additional new high-
grade gold zone s located north and west of the original main Mispickel area . The Mispickel area is
strategically situated 20 kilometres north of Yellowknife and complements our flagship Con Mine Option
Property where we are currently drilling at depth along the Campbell Shear south of the Con and on which
an updated mineral resource estimate will be provided in September.”
Figure 1: Location map of Northbelt deposits and Mispickel MP-Ryan Zone
Drilling Results
A summary of drill results for all 19 drill holes are shown in Table 1 below. New assay results are shown
for holes GTWL22-001, 009 to 013 and 015 to 019. Previously released holes include GTWL22-002-008
and 014 with one new updated re-run assay for GTWL22-004.
Highlights include hole GTWL22-017 which intersected 5.17 g/t Au over 3 metres from 320-323 metres
and an updated re-run assay result for hole GTWL22-004 which returned 9.36 g/t Au over 3 metres
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from 57-60 metres, including the sample containing the visible gold-bearing vein which graded 27.7
g/t Au over 1 metre.
Table 1 - Summary of Assay Intersections on Mispickel MP-Ryan Zone:
Hole (*previously
reported)
Comments Intervals
GTWL22-001 low grades Drilled on Drag Rust Zone 6km south of MP-Ryan
along strike of possibly the same structure
GTWL22-002* VG 20-24m: 19 g/t Au over 4m
GTWL22-003*
164-169m: 1.01 g/t Au over 5m
218-223m: 1.34 g/t Au over 5m
GTWL22-004* Sent for re-analysis
Best looking VG
Updated new results:
57-60m: 9.36 g/t Au over 3m, including the
sample containing the visible gold-bearing vein
which graded 27.7 g/t Au over 1m
84.5-86m with 1.5m of 2.47 g/t Au and,
91.5-92.5m with 1m of 4.27 g/t Au
* Previously reported in the June 7, 2022 press
release: 57-60m: 7.63 g/t Au over 3m, including the
sample containing the visible gold-bearing vein
which graded 22.5g/t Au over 1m
GTWL22-005*
63-65m: 3.86 g/t Au over 2m
GTWL22-006*
183-184m: 2.11 g/t Au over 1m
259-260m: 2.46 g/t Au over 1m
GTWL22-007* New zone, VG 102-109m: 3.59 g/t Au over 7m including 8.02 g/t
Au over 2m from 102-104m
147-151m: 1.65 g/t Au over 4m
310-311m: 1.90 g/t Au over 1m
GTWL22-008*
78-84m grades 4.17g/t Au over 6 m, including 78-
79m with 11.35g/t Au over 1 m and 83-84m with
11.8g/t Au over 1
0.74g/t Au over 9 m, including 1.75g/t Au over 3 m
from 326-329m.
GTWL22-009
71.5-74.5m: 1.25 g/t Au over 3 m
96-100m: 1.31 g/t Au over 4m
GTWL22-010 Deep hole, shows
weaker mineralization
within the structure
but still anomalous
gold at depth
312-315m: 0.98 g/t Au over 3 m
464-470m: 0.63 g/t Au over 6 m
473-477m: 0.80 g/t Au over 4 m Including 0.33 g/t
Au over 2 m
GTWL22-011
255-262m: 0.39 g/t Au over 7 m
GTWL22-012 Widespread
anomalous gold
nearby large vein
237-262m: 0.59 g/t Au over 25m including 237-
239m: 1.82 g/t Au over 2m; and 256-262m: 0.87
g/t Au over 6m
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GTWL22-013
56-67m: 1.38 g/t Au over 11m including 2.01 g/t Au
over 7m
GTWL22-014* New High grade VG
vein with pale colored
gold
43-46m: 31.89g/t Au over 3m, including 69.4g/t
Au over 1m
GTWL22-015 Large (3m) smokey
quartz vein
92-94m: 0.98 g/t Au over 2m
99-107m: 0.89 g/t Au over 8m
124-125m: 0.92 g/t Au over 2m
220-223m: 0.77 g/t Au over 3m
GTWL22-016 Good intersections 39-42m: 1.26 g/t Au over 3m within 11m of 0.65
g/t Au
GTWL22-017 Good intersection at
320-323m
51-53m: 1.29 g/t Au over 3m
158-161m: 1.06 g/t Au over 3m
320-323m: 5.17 g/t Au over 3m
GTWL22-018 Encouraging veining
and mineralization
88.9-95.1m: 1.66 g/t Au over 6.2m
278.75-279.25m: 2.48 g/t Au over 0.50m
GTWL22-019 VG, evidence of zone
at depth
179.5-183.5m: 4m of 2.88 g/t Au including 2.1m of
5.23 g/t Au from 181.5-183.6m
The location of drill holes in the Mispickel MP-Ryan area are shown in the following Figure 2.
`
Figure 2: Location of drill holes and high-grade zones in Mispickel area
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Geological Summary
The Mispickel area is a broad, steeply easterly dipping shear zone upwards of 200 metres wide. The host
lithology of the Mispickel shear is interbedded argillite and siltstone for majority of the system (Footwall
and Main Zone) and medium grained greywacke on the western end (Zone 14) and to the north.
Within this shear corridor, MP Ryan , Main, and Footwall zones contain smoky quartz veining with
arsenopyrite, pyrite, pyrrhotite, ± sphalerite mineralization, in addition to visible gold mineralization.
Quartz veins, which appear to be sub-vertical, range from sub-cm boudinaged veins to >1m smoky veins
with coarse arsenopyrite mineralization. Alteration in the Main and Footwall zones is cryptic (e. i. thin
bands of biotite and/or chlorite alteration) whereas the Hanging wall zone 14 contains sericite alteration
surrounding mineralized veins. The zone 14 vein is 1.2 metres and different, consisting of white greyish
quartz with visible gold. Only hole GTWL-22-14 intersected this new high -grade zone, and will required
further drilling to evaluate its potential.
The purpose of this drill program was to expand the footprint of known mineralization. This involved
drilling above and below known gold occurrences and drilling along -strike in the shear system. The
program was successful at doing both: holes GTWL22-002 (20-24m: 19 g/t Au over 4m) and GTWL22-004
(57-60m: 9.36 g/t Au over 3m) expanded on known high-grade zones whereas holes GTWL22-007 (102-
109m: 3.59 g/t Au over 7m) and GTWL22-014 (43-46m: 31.89 g/t Au over 3m) have intersected new zones
along-strike to the north.
Of 19 holes drilled at Mispickel, 5 holes contained multi-meter zones of >25 gram-metre Au as shown in
Table 2 below. Additionally, 11 holes intersected visible gold, signifying the endowment of this zone.
Table 2 – Greater than 25 gram-metre intervals at Mispickel :
Potential Exploration
Figure 3 below shows the Mispickel area trend with exploration targets to the north and south.
Hole ID Interval Grade gram * meters
GTWL22-002 20-24m 19 g/t Au over 4m, incl. 73.9 g/t Au over 1m 76
GTWL22-004 57-60m 9.36 g/t Au over 3m, incl 27.7 g/t over 1m 28
GTWL22-007 102-109m 3.59 g/t Au over 7m, incl. 8.02 g/t au over 2m 25
GTWL22-008 78-84m 4.17 g/t Au over 7m, incl. 11.35 g/t Au over 1m
and 11.8 g/t Au over 1m
25
GTWL22-014 43-46m 31.89 g/t Au over 3m, incl. 69.4 g/t Au over 1m 96
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Figure 3: Additional Exploration Targets on the Mispickel trend
2022 Drill Program
The Company’s 2022 primary drilling program remains focused on testing the continuity of the
mineralized zones within the Campbell shear south of the f ormer Con Mine with the objective of adding
high-grade ounces to the current 1.2 Moz inferred resources (see March 31, 2021 Technical Report).
Following closure of the winter program, the company is continuing its drilling on the Campbell shear
structure south of the former Con Mine which produced 6.1 Moz (1938-2003).
Technical Appendix
This news release reports new assay results from ten (10) drill holes totalling 3,402 metres from which
2623 core samples were assayed. Assays results range from non-detectable gold to a highest assay of 7.84
g/t Au. The Company inserts certified standards and blanks into the sample stream as a check on
laboratory Quality Control (QC). Drill core samples are cut by diamond saw at Gold Terra’s core facilities
in Yellowknife. A halved core sample is left in the core box. The other half core is sampled and transported
by Gold Terra personnel in securely sealed bags to ALS preparation laboratory (“ALS”) in Yellowknife.
Samples prepared by ALS are shipped to ALS’s Vancouver facility for gold analysis. Gold assays of >3 g/t
are re-assayed on a 30 g split by fire assay with gravimetric finish. Samples with visible gold are additionally
assayed using a screen metallic method. ALS and is a certified and accredited laboratory service. ALS
routinely inserts certified gold standards, blanks and pulp duplicates, and results o f all QC samples are
reported.
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 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.
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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 drilli ng 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 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:
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 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", "scheduled",
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All statements other than statements of historical fact may be forward -looking information. Forward -
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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 Con Mine Option
potentially adding high grade ounces to the Company’s current YCG mineral resource, future planned
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.
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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 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 statements. All of the forward -looking
information contained in this news release is qualified by these cautionary s tatements. 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 does not intend, and does not assume any obligation, to update this forward -
looking information.