Gold Terra Continues to Expand Gold Mineralization at Sam Otto South
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Gold Terra Continues to Expand Gold Mineralization at Sam Otto South
May 11, 2020, Vancouver, B.C. – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTC Pink:
TRXXF) (“Gold Terra” or the “Company”) is pleased to announce the results of 10 drill holes from Sam Otto
South (Link to map) on its 100% wholly-owned Yellowknife City Gold (“YCG”) project in the Northwest
Territories. To date, Gold Terra has released the assay results of 28 holes from its 36 holes winter drilling
program totaling 10,989 metres.
This drilling targeted the northern part of Sam Otto South. All 10 holes intersected gold mineralization,
indicating the potential to add to the current inferred mineral resource estimate dated November 4, 2019
(the “2019 Mineral Resource Estimate”).
Highlights include:
1.03 g/t Au over 23m, including 1.30 g/t Au over 12m (TSO20-077)
1.60 g/t Au over 11.75m (TSO20-078)
1.18 g/t Au over 11m, including 1.94 g/t Au over 6m (TSO20-074)
1.05 g/t Au over 9m (TSO20-076)
1.09 g/t Au over 7m (TSO20-068)
President and CEO David Suda stated: “Our stated goal prior to this drilling campaign was to establish
continuity and potentially increase the current mineral resource. Results to date have demonstrated
continued success in expanding the footprint of the Sam Otto South gold mineralized system. For example,
very good continuity is shown on Section 3400N with holes TSO20-074 and 077 announced today. We look
forward to receiving the assay results from the remaining holes in the untested central zone and Main Zone
of Sam Otto.”
Technical Summary:
The drill holes reported today were following up on holes TSO18-037 (1.92 g/t Au over 11.82m) and TSO19-
046 (1.36 g/t Au over 14.00m) at the northern end of Sam Otto South. This drilling completed on
approximate 50m centers covers an additional 250m of strike length beyond the news release of April 22,
2020, which together encompass 500m of continuous mineralization to a vertical depth of 200m to 250m
(Link to cross sections).
The drilling results reported to date demonstrate good continuity of the gold mineralization at greater than
1 g/t and have expanded the mineralized zone beyond the boundaries of the 2019 Mineral Resource
Estimate.
The drilling also intersected an additional zone of mineralization in hole TSO20-075 at a vertical depth of
approximately 300m. This hole was drilled deeper due to favorable geology (to the west) and intersected
0.54 g/t Au over 18.26m. This mineralization is currently interpreted to be an offset of the main mineralized
zone, which is associated with mafic dykes emplaced along fault zones. This possible interpretation is
reinforced by hole TSO20-079 which missed the main mineralized zone and intersected chert horizons that
are interpreted as being stratigraphically above the mineralized intermediate tuff host rocks. This possible
western offset has been covered by the 2020 IP surveys, which will potentially provide future drilling targets.
Technical Appendix:
This news release reports the assay results from 10 drill holes totaling 2,754m from which 1,410 core
samples were assayed. Assay results range from non-detectable gold to a highest assay of 4.17 g/t Au.
The Company inserts certified standards and blanks into the sample stream as a check on laboratory
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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 (ALS) preparation laboratory in Yellowknife. After
sample preparation, samples 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 a gravimetric finish. Samples with visible gold are
additionally assayed using a screen metallics method. ALS is a certified and accredited laboratory service.
ALS routinely inserts certified gold standards, blanks and pulp duplicates, and results of all QC samples
are reported.
Drill holes were drilled at right angles to the zones of 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 85-95
percent of 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.
About the Yellowknife City Gold Project
The YCG project encompasses 783 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 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.
The YCG lies on the prolific Yellowknife greenstone belt, covering 70 km 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 I Toll-Free: 1-855-737-2684
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.
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Sam Otto South - DDH Intersections (Sections 3300N to 3500N)
Section 3300N
Drill Hole Dip Azimuth
UTM Location
From (m) To (m)
Interval
(m) Au g/t Easting Northing
TSO20-068 -45 270 639750 6943286 79.00 86.00 7.00 1.09
128.00 129.74 1.74 0.76
165.00 166.99 1.99 1.73
TSO20-065 -52 270 639795 6943300 78.00 79.00 1.00 2.36
111.40 117.00 5.60 0.64
137.00 144.00 7.00 0.64
167.45 171.86 4.41 0.46
TSO20-073 -50 270 639885 6943300 184.43 189.00 4.57 1.03
223.00 235.00 12.00 0.44
Section 3350N
TSO20-064 -45 270 639864 6943351 180.30 191.91 11.61 0.65
255.81 257.81 2.00 0.84
Section 3400N
TSO20-077 -45 270 639728 6943401 10.00 33.00 23.00 1.03
incl. 19.00 31.00 12.00 1.30
TSO20-074 -45 270 639836 6943400 176.16 187.16 11.00 1.18
incl. 181.16 187.16 6.00 1.94
200.16 202.16 2.00 0.51
205.16 207.16 2.00 1.07
298.00 301.10 3.10 0.46
Section 3450N
TSO20-078 -45 270 639742 6943452 30.00 41.75 11.75 1.60
incl. 30.00 33.00 3.00 2.41
incl. 35.00 39.75 4.75 2.27
55.40 57.32 1.92 1.15
TSO20-075 -50 270 639920 6943450 234.17 242.65 8.48 0.44
251.93 262.00 10.07 0.54
383.74 402.00 18.26 0.54
incl. 384.75 385.75 1.00 3.62
Section 3500N
TSO20-079 -47 270 639798 6943527 No significant intersections
TSO20-076 -49 270 639936 6943501 245.26 254.26 9.00 1.05
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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”,
“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 forward-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 potential to add to the current inferred mineral resource estimate dated November 4, 2019;
the western offset potentially providing future drilling targets; 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 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 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 does not intend,
and does not assume any obligation, to update this forward-looking information.
Gold Terra Property
Gold Terra 2020 Drilling
Awaiting Results
In This Release
Previously Released
Past Gold Terra Drilling
Mineral Resources
Major Gold-Bearing Shears
Secondary Gold-Bearing Shears
Geology
Felsic to Intermediate Volcanics
Gabbros
Sediments
Timiskaming-type Conglomerate
Faults
Gold Terra Property
Gold Terra 2020 Drilling
Awaiting Results
In This Release
Previously Released
Past Gold Terra Drilling
Mineral Resources
Major Gold-Bearing Shears
Secondary Gold-Bearing Shears
Geology
Felsic to Intermediate Volcanics
Gabbros
Sediments
Timiskaming-type Conglomerate
Faults
Sam Otto
Main Zone
Sam Otto
South
7.00m @
1.09 g/t Au
22.00m @
0.44 g/t Au
4.57m @
1.03 g/t Au
5.60m @
0.64 g/t Au
NEW
RESULTS
NEW
RESULTS
PREVIOUSLY
RELEASED
NEW
RESULTS
7.00m @
0.64 g/t Au
SECTION 3300N
Easting Northing
79.00 86.00 7.00 1.09
128.00 129.74 1.74 0.76
165.00 166.99 1.99 1.73
78.00 79.00 1.00 2.36
111.40 117.00 5.60 0.64
137.00 144.00 7.00 0.64
167.45 171.86 4.41 0.46
184.43 189.00 4.57 1.03
223.00 235.00 12.00 0.44
Sam Otto South - DDH Intersections - Section 3300N
Drill Hole Dip Azimuth
UTM Location
Au g/t
6943286 New Drill
Results
CommentFrom (m) To (m) Interval (m)
6943300 New drill
results
TSO20-065 -52 270 639795 6943300 New drill
results
TSO20-073 -50
-45 270TSO20-068
270 639885
639750
9.00m @
1.20 g/t Au
22.00m @
0.44 g/t Au
11.61m @
0.65 g/t Au
5.60m @
0.64 g/t Au
NEW
RESULTS
NEW
RESULTS
PREVIOUSLY
RELEASED
NEW
RESULTS
7.00m @
0.64 g/t Au
SECTION 3350N