Gold Terra Intersects 1.97 g/t Gold over 6.50 Metres with Visible Gold and 2.00 g/t Gold 0ver 4.50 Metres at Depth on Campbell Shear, Con Mine Property, Yellowknife, NWT
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Gold Terra Intersects 1.97 g/t Gold over 6.50 Metres with Visible Gold and 2.00 g/t Gold 0ver 4.50
Metres at Depth on Campbell Shear, Con Mine Property, Yellowknife, NWT
June 27, 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 assay results of GTCM22-037 designed to test
the Campbell Shear at a depth of 1,000 vertical metres. GTCM22-037 intersected the Campbell shear as
planned with the main zone carrying of 1.60 g/t gold (Au) over 14.57 metres, including two gold zones of
1.97 g/t Au over 6.50 metres from 1,263.30 to 1,269.80 metres and 2.00 g/t Au over 4.50 metres from
1,256.08 to 1,260.58 metres.
Hole GTCM22-037 encountered alteration, veining, and mineralization consistent with descriptions of
typical Campbell Shear gold zone s from historical production. It was drilled below historical holes Y-88
(13.72 g/t Au over 5.27 metres)* and above Y-86 and Y-96A (8.32 g/t Au over 4.45 metres and 18.11 g/t
Au over 0.83 metres)* along the Campbell Shear structure. The past producing Con Mine Property is under
option to purchase 100% by the Company from Newmont Canada FN Holdings ULC and Miramar Northern
Mining Ltd., both wholly owned subsidiaries of Newmont Corporation (see November 22, 202 1 press
release). *Note: these intersections are historical in nature and have not been verified by Gold Terra. Hole location,
downhole survey, assay and lithologic data was obtained from the Con Mine database, and therefore is assumed by
Gold Terra to be reasonably valid.
Chairman and CEO, Gerald Panneton, commented, “Our drilling program is getting positive results on the
Campbell shear at depth, and confirming gold mineralization in the area of historical holes Y-88 and Y-86.
At the past producing Con Mine (5.0 Moz @ 15 g/t Au), it was typical to go from low-grade gold (approx.
1-3 g/t Au) to high--grade in the span of 10 metres. For example, we have observed visible gold, and the
Campbell shear is present and well altered and mineralized, south of the Pud fault. Our 2022 program will
continue to test this area using hole 37 to set up wedges on 50-metre spacing. For the second half of 2022,
we are well-financed to continue with the deep drilling program and updating our current mineral resource
to include the high-grade Yellorex Zone for Q4 2022.”
The 2022 drill program along the Campbell Shear structure is well underway with a total of 15 drill holes
(GTCM22-027 to 22 -041) completed to date for a total of 8,391 metres. The Company is pleased to
announce it has received $132,000 funding from the 2022-23 Government of the Northwest Territories
Mining Incentive Program for the Campbell Shear project.
The Company also received the remaining assays for hole GTCM21-029. Figure 1 below shows the location
of holes GTCM21-029 and 037 in plan view and Figure 2 below shows the holes on the Campbell Shear
long section.
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Figure 1: Location of holes GTCM22-029 and 037.
Figure 2 - Campbell Shear Long Section (looking West)
Drilling Results
Hole GTCM22-037 is a deep hole drilled below historical holes Y-88 (13.72 g/t Au over 5.27 metres)* and
above Y-86 and Y -96A (8.32 g/t Au over 4.45 metres and 18.11 g/t Au over 0.83 m etres respectively)*.
GTCM22-037 intersected two gold zones of 1.60 g/t over 14.57 metres and 0.59 g/t Au over 12.65 metres.
Although the zones are located within the Campbell Shear, its gold mineralization style contrasts with the
usual sericite-rich alteration and arsenopyrite -rich smoky quartz veins style intersected at Yellorex. The
main difference is the absence of sericite alteration; chlorite and calcite being the main alteration present.
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Local sericitized clasts and angular fragments of semi -massive, laminated pyrite suggest a late
remobilization or setting of the gold. The gold is associated with quartz-tourmaline breccia veins. Locally
two pinpoint visible gold specks were found within one of those quartz -tourmaline veins at a depth of
1,257.38 to 1,257.84 metres.
Additional assays received from previously released hole GTCM22-029, which is a deep hole designed to
test the Campbell Shear at a depth below 1,000 vertical metres, intersected 3.02 g/t Au over 1.05 metres
from 1,307.95 to 1,309.00 metres. To reach the 1,000-metre depth on the Campbell Shear, hole GTCM22-
029 was collared immediately west of the Con Shear , a secondary structure from which about 1 Moz of
gold at a grade of 19.5 g/t Au was mined at the Con Mine . This resulted in an intersection 3.61 g/t Au
over 4.55 metres including 15.75 g/t over 0.75 metres at 30 metres vertical depth (see May 15, 2022
press release). A 1-kilometre-long portion of the Con Shear in this area was previous tested by only two
shallow holes from the 1940's. One of the historic holes reported a historical intersection of 30.86 g/t Au
over one foot*.
Hole GTCM22-041 has been completed to a depth of 1,364 metres and assays are pending.
A table of significant drill intersections for holes GTCM22-029 and 037 are shown in Table 1:
Table 1: GTCM22-029 and 037 Significant Drill Intersections
DDH # Easting Northing Azimuth Dip From
(m)
To (m) Length
(m)
Au (g/t)
GTCM22-029 635219.7 6922943.4 110 -68 37.00 41.55 4.55 3.61
including 37.00 37.75 0.75 15.75
GTCM22-029 861.00 864.80 3.80 0.55
GTCM22-029 1304.00 1309.00 5.00 0.76
Including 1307.95 1309.00 1.05 3.02
GTCM22-037 635377.6 6923550.1 088 -68 1255.23 1269.80 14.57 1.60
Including 1256.08 1260.58 4.50 2.00
Including 1263.30 1269.8 6.50 1.97
GTCM22-037 1274.70 1276.00 1.30 2.08
GTCM22-037 1287.45 1300.10 12.65 0.59
including 1290.15 1292.15 2.00 1.20
The Company has completed approximately 14,402 metres in 2022 to date 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.
Technical Appendix
This news release reports the final assay results from two (2) drill holes from which 374 core samples were
assayed. Results include final assays from holes GTCM -029 and 037 for 2,833 metres of drilling . Assay
results range from non-detectable gold to a highest assay of 15.75 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 GTCM22-029 and 037 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 no rth, 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 kilo meters 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 produce d, 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 kilo meters 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 & 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 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",
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"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
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.