Gold Terra Expands Gold Mineralization at Sam Otto South
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Gold Terra Expands Gold Mineralization at Sam Otto South
April 22, 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 holes from Sam
Otto South (See Map) on its 100% wholly -owned Yellowknife City Gold (“YCG”) project in the Northwest
Territories.
This drilling targeted the expansion of the known mineralization in the ‘main zone’ and the new ‘hanging
wall zone’ at Sam Otto South. All 10 holes intersected gold mineralization, indicating the potential to add
to the current inferred mineral resource dated November 4, 2019 (the “Mineral Resource Estimate”), as
detailed in the technical report prepared in accordance with National Instrument 43- 101 – Standards of
Disclosure for Mineral Projects (“NI 43-101”), available under our profile on SEDAR at www.sedar.com.
To date, Gold Terra has released the assay results of 18 holes from its 36 holes drilled this winter at Sam
Otto with assays pending.
Highlights include:
• 1.33 g/t Au over 9.77m and 0.99 g/t Au over 8.24m (TSO20-060)
• 2.50 g/t Au over 5.75m (TSO20-071)
• 1.80 g/t Au over 6.30m (TSO20-067)
President and CEO David Suda stated: “We are confirming the continued expansion of gold mineralized
zones at Sam Otto. In addition to expanding known mineralization, we are successfully drilling new zones
which bolster our confidence in the possibility of adding gold ounces to the next resource update of Sam
Otto.”
The Company has recently concluded its winter drilling program with the completion of two deep holes
testing an induced polarization anomaly (from the recently completed geophysical survey) coinciding with
the interpreted northern extension of the main structures that host the past producing Con and Giant
mines (production of 14 million ounces of gold). All core has been cut, sampled and shipped for assay.
The core display s zones of shearing and alteration similar to the Campbell Shear mineralization of the
Con mine.
Technical Summary:
The drill holes reported today were following up on holes TSO18-035 (2.16 g/t Au over 27.12m (news
release March 9, 2018) ) and TSO19-043 (0.77 g/t Au over 14.00m (news release Sept ember 9, 2019 ))
that formed the core area of Sam Otto South. This drilling covered 250m of strike length and 200- 250m
maximum depth at approximately 50m centers. Results from this area include:
• 1.33 g/t Au over 9.77m and 0.99 g/t Au over 8.24m in TSO20-060
• 1.81 g/t Au over 3.91m and 2.50 g/t Au over 5.75m in TSO20-071
The drill results reported today (Link to table and maps of all results in this release) also extended the
hanging wall zone in Sam Otto South over a strike length of 250 metres and it remains open to the north.
Prior to the 2020 drilling, Gold Terra had limited results from th e hanging zone except for two holes drilled
250m apart which returned intercepts of 2.93 g/t Au over 7.0 m ( TSO19-044) and 1.24 g/t Au over 11.0m
(TSO19-047(news release September 9, 2019) ) respectively. Only a ve ry small portion of the hanging
wall zone was included in the Mineral Resource Estimate. The drill results obtained to date have
expanded the mineralized zone:
• 1.39 g/t Au over 25.00 in hole TSO20-058 (news release February 24, 2020)
• 1.08 g/t Au over 5.00m in hole TSO20-059
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• 1.31 g/t Au over 4.97m in hole TSO20-061
• 0.56 g/t Au over 24.50m in hole TSO20-066
• 1.80 g/t Au over 6.30m in hole TSO20-067
Sam Otto South - DDH Intersections (Sections 3050E to 3250E)
Section Drill Hole Dip Azimuth
UTM Location
From (m) To (m) Interval (m) Au g/t Easting Northing
3050E
TSO20-060 -45 270 639804 6943060 98.55 99.70 1.15 1.05
106.50 121.25 14.75 0.66
incl. 106.50 110.61 4.11 1.11
and incl. 116.50 120.25 3.75 1.06
167.00 175.24 8.24 0.99
180.50 184.25 3.75 1.03
196.23 206.00 9.77 1.33
TSO20-054 -45 270 639865 6943050 165.40 166.40 1.00 1.11
169.50 170.50 1.00 0.74
183.75 185.00 1.25 0.55
204.00 205.00 1.00 2.00
236.23 241.00 4.77 0.97
264.00 272.70 8.70 0.54
3100E
TSO20-071 -45 270 639690 6943100 25.91 26.91 1.00 0.58
28.60 30.60 2.00 1.03
45.60 49.51 3.91 1.81
56.14 57.14 1.00 1.44
69.67 75.67 6.00 0.64
82.67 83.67 1.00 1.25
92.67 98.42 5.75 2.50
TSO20-072 -45 270 639751 6943094 40.98 51.00 10.02 0.58
100.80 104.00 3.20 1.02
112.50 116.50 4.00 0.60
126.00 127.70 1.70 0.48
138.00 146.00 8.00 0.44
3150E
TSO20-070 -45 270 639680 6943150 13.87 15.87 2.00 1.29
40.60 51.00 10.40 0.54
74.00 76.00 2.00 2.58
100.39 101.60 1.21 1.39
TSO20-059 -45 270 639810 6943150 95.18 100.18 5.00 1.08
106.96 112.96 6.00 0.45
184.20 189.10 4.90 0.70
TSO20-058 -50 270 639875 6943151 182.00 207.00 25.00 1.39
incl 182.00 192.59 10.59 2.48
250.05 253.70 3.65 0.53
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Section Drill Hole Dip Azimuth
UTM Location
From (m) To (m) Interval (m) Au g/t Easting Northing
3050E
TSO20-060 -45 270 639804 6943060 98.55 99.70 1.15 1.05
106.50 121.25 14.75 0.66
incl. 106.50 110.61 4.11 1.11
and incl. 116.50 120.25 3.75 1.06
167.00 175.24 8.24 0.99
180.50 184.25 3.75 1.03
196.23 206.00 9.77 1.33
TSO20-054 -45 270 639865 6943050 165.40 166.40 1.00 1.11
169.50 170.50 1.00 0.74
183.75 185.00 1.25 0.55
204.00 205.00 1.00 2.00
236.23 241.00 4.77 0.97
264.00 272.70 8.70 0.54
276.00 278.00 2.00 1.31
288.75 297.00 8.25 0.70
338.50 339.50 1.00 1.44
3200E
TSO20-061 -50 270 639855 6943200 18.00 19.00 1.00 1.77
147.30 152.27 4.97 1.31
171.45 173.45 2.00 0.93
214.00 217.00 3.00 0.62
245.00 253.00 8.00 0.85
incl. 245.00 249.00 4.00 1.21
311.45 315.80 4.35 1.35
3250E
TSO20-069 -45 270 639715 6943250 5.80 11.00 5.20 0.83
incl. 8.00 10.00 2.00 1.72
35.50 36.50 1.00 0.69
46.00 49.25 3.25 0.95
51.50 52.50 1.00 0.64
TSO20-067 -49 270 639815 6943250 73.50 79.80 6.30 1.80
88.20 94.00 5.80 0.43
127.00 128.80 1.80 0.73
145.50 147.00 1.50 0.45
149.50 157.20 7.70 0.49
180.50 181.50 1.00 0.80
193.00 194.50 1.50 0.82
TSO20-066 -50 270 639885 6943250 196.50 221.00 24.50 0.56
incl. 208.00 211.00 3.00 2.05
271.50 272.50 1.00 0.92
279.50 280.50 1.00 1.26
285.30 286.30 1.00 0.52
295.30 297.00 1.70 0.57
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Section Drill Hole Dip Azimuth
UTM Location
From (m) To (m) Interval (m) Au g/t Easting Northing
3050E
TSO20-060 -45 270 639804 6943060 98.55 99.70 1.15 1.05
106.50 121.25 14.75 0.66
incl. 106.50 110.61 4.11 1.11
and incl. 116.50 120.25 3.75 1.06
167.00 175.24 8.24 0.99
180.50 184.25 3.75 1.03
196.23 206.00 9.77 1.33
TSO20-054 -45 270 639865 6943050 165.40 166.40 1.00 1.11
169.50 170.50 1.00 0.74
183.75 185.00 1.25 0.55
204.00 205.00 1.00 2.00
236.23 241.00 4.77 0.97
264.00 272.70 8.70 0.54
302.50 303.50 1.00 0.85
308.50 309.50 1.00 0.62
332.00 333.00 1.00 1.18
Technical Appendix:
This news release reports the assay results from 10 holes totaling 2,510m from which 2,064 core samples
were assayed . Assay results range from non- detectable gold to a highest assay of 6.34 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 Chemex's ( “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.
Joseph Campbell , a Qualified Person as defined by NI 43-101, has supervised the preparation of the
scientific and technical information contained in this news release. Mr. Campbell has reviewed and
approved the scientific and technical content of this news release and has verified the data underlying the
information disclosed herein, including sampling, analytical and test data. Mr. Campbell is not
independent of Gold Terra, as he is the Chief Operating Officer of the Company .
Corporate Update
Gold Terra has switched to Independent Trading Group, Inc. (“ITG”), subject to regulatory approval, to act
as trading advisor to the Company and to provide market -making services to the Company in compliance
with the policies and guidelines of the TSX Venture Exchange (“TSXV”) and other applicable legislation.
ITG will trade shares of Gold Terra on the TSXV for the purposes of maintaining an orderly market and
improving the liquidity of the Company’s common shares. The agreement between ITG and the Company
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is on a month- to-month basis and the Company has agreed to pay ITG $5,000 per month. The
engagement may be terminated by either party with written notice of 30 days. The Company and ITG act
at arm’s length. There are no performance factors contained in the agreement between ITG and the
Company and ITG will not receive any shares or options from the Company as compensation for services
it will render. ITG’s services will replace the trading advisory and market-making services previously being
provided by Mackie Research Capital Corporation.
In addition, the Company has granted 400,000 stock options to its newly appointed Chief Financial
Officer, Mr. Mark Brown at an exercise price of $0.30 for a period of five years expiring on April 14, 2025.
About Gold Terra Resource Corp
Gold Terra owns a 100% interest in the Yellowknife City Gold (YCG) Project, encompassing 790 sq km of
contiguous land within 10 kilometers of the city of Yellowknife. The Company announced an inferred
mineral resource estimate of 735,000 ounces of gold in November 2019, (News release November 4th
2019). The YCG Project is located in the same archean belt where the former high- grade Con and Giant
gold mines have produced over 14 million ounces of gold. The YCG project is located north and south of
the city and along the same mineralized district scale as the past producer Con and Giant Mines.
For more information on the YCG project, please visit our website at www.goldterracorp.com .
On behalf of the Board of Directors,
"DAVID SUDA"
David Suda, President and CEO
For more information, please contact:
Samuel Vella, Manager of Corporate Communications
Phone: 604-689-1749 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.
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 s uch forward- looking information. In particular, this news release contains forward- looking
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information regarding the suspected continuity of the Sam Otto Zone, the potential to add to the current
NI 43- 101 inferred mineral resource, the project's potential as a world- class gold district , realizing the
benefits of ITG’s market-making services, maintaining an orderly market and improving the liquidity of the
Company’s common shares. 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 factor s 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 s tatements 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. R eaders 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.
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Gold Terra Property
Gold Terra 2020 Drilling
Awaiting Results
In This Release
Previously Released
2019 Gold Terra DDH
Mineral Resources
Major Gold-Bearing Shears
Secondary Gold-Bearing Shears
Geology
Felsic to Intermediate Volcanics
Sediments
Timiskaming-type Conglomerate
Faults
Gold Terra Property
Gold Terra 2020 Drilling
Awaiting Results
In This Release
Previously Released
2019 Gold Terra DDH
Mineral Resources
Major Gold-Bearing Shears
Secondary Gold-Bearing Shears
Geology
Felsic to Intermediate Volcanics
Sediments
Timiskaming-type Conglomerate
Faults
Sam Otto
Main Zone
Sam Otto
South