Gold Terra Intersects 19.00 g/t gold over 4.0 metres including 73.9 g/t gold over 1 metre on Mispickel area as New High-Grade MP-Ryan Zone Extends, Yellowknife City Gold Project, NWT
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Gold Terra Intersects 19.00 g/t gold over 4.0 metres including 73.9 g/t gold over 1 metre on Mispickel
area as New High-Grade MP-Ryan Zone Extends, Yellowknife City Gold Project, NWT
March 22, 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 partial assay results in drill hole GTWL22-
002 which intersected 19.00 g/t gold over 4.0 metres including 73.9 g/t gold over 1 metre in the Mispickel
area as drilling continues to extend the new high-grade MP-Ryan Zone at least 200 metres north of the
main Mispickel area. The hole is part of a small winter drill program in the northern part of the Company’s
Yellowknife City Gold Project. So far, a total of 10 holes (GTWL22-002, 3, 4, 5, 6, 7, 8, 9, 13 and 14) of the
first 13 holes have intersected visible gold (VG) in a sheared vertical structure currently extended over a
minimum strike length of 400 metres. Assays are pending for all the remaining holes.
The Company’s 2022 primary drilling program remains focused on testing the continuity of the
mineralized zones within the Campbell shear south of the former Con Mine with the objective of adding
high-grade ounces to the current 1.2 Moz inferred resources (see March 31, 2021 Technical Report).
Chairman and CEO, Gerald Panneton, commented, “ On top of our drilling success along the Campbell
shear in 2021, and continuing in 2022, we are having very positive drill results in the former Mispickel area
north of town (approximately 20km north of Yellowknife). Today’s preliminary drill results from our
additional winter drilling program in that area along the new MP-Ryan zone is providing insight to the
amazing high-grade potential of the Yellowknife belt, illustrated by this second priority drill program. This
additional small winter program is very exciting as ten holes have intersected visible gold (see pictures on
our website at https://goldterracorp.com and further in this press release) in a sheared vertical structure.”
Figure 1: Drilling in the North and South
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Drilling Results
The main zone of GTWL22-002 which intersected 19.00 g/t gold over 4.0 metres from 20.0 to 24.0 metres
vertical depth, occurs within a moderate-strong shear with 10% smoky -grey salt-pepper quartz veining
and 3-4% pyrrhotite ± pyrite (infill texture and as stringers in host rock) , and with 1% medium grained
arsenopyrite, chlorite-biotite selvages, and visible gold.
DDH # Easting Northing Azimuth Dip From
(m)
To
(m)
Length
(m)
Au
(g/t)
GTWL22-002 640260 6945870 270 -45 20.00 21.00 1.00 73.90
21.00 22.00 1.00 0.428
22.00 23.00 1.00 0.814
23.00 24.00 1.00 0.864
Drilling in the new MP -Ryan Zone is currently extending the zone along a 500 metres high grade trend
which remains open in all directions. To date, 4,611 metres have been drilled with approximately 3,198
samples taken. Visible gold (VG) has been reported in ten holes and assays are pending for all holes.
VG in hole GTWL22-004 is shown in the following Figure 2 and all pictures can be found on the Company
website at www.goldterracorp.com.
Figure 2: VG in GTWL22-004/MP5900-E – 57.4m (Main Zone)
The location of holes GTWL22-002, 4, 5, 6, 7, 8, 9 and 13 are shown in the following Figure 3.
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`
Figure 3: Location of MP-Ryan Zone drill holes
2022 Drill Program
The Company intends to drill approximately 40,000 metres in 2022 with the objective 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.
The 2022 drill program is well underway with four (4) drills turning. Two rigs are drilling the Campbell
Shear south of the former high-grade Con Mine, with one deep drill rig targeting the Campbell Shear at a
depth of approximately 1000 metres below surface and at a 200 -metre spacing. A second drill rig is
allocated to test the Campbell shear, north of Yellorex zone which was not part of the original agreement
with Newmont (September 2020) but is now part of the updated agreement (November 2021) covering
all Newmont claims and leases over the former Con Mine area. Two (2) drill rigs are doing a small 4,000-
6,000 metre winter program in the vicinity of the new high-grade MP-Ryan zone 200 metres north of the
main Mispickel area.
Technical Appendix
This news release reports the assay results from one (1) drill holes from which 14 core samples were
assayed. Results include partial assay results for 15 meters of core from hole GTWL22-02. Assays results
range from non -detectable gold to a highest assay of 73.91 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
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bags to ALS preparation laboratory (“ALS”) 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 gravimetric finish. Samples with visible gold are additionally assayed using a screen metallic
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 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.
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 nea rly 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, CEO & Executive Chairman
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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"could", "would", "might" or "will be taken", "occ ur" 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 subjec t 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 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.
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 "Ri sk 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 st atements. 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.