Gold Terra intersects 5.99 g/t Au over 1.45 metres in the Campbell Shear confirming 200 m down dip continuity of Kam Point North zone, Newmont Option, NWT
1 / 6
Gold Terra intersects 5.99 g/t Au over 1.45 metres in the Campbell Shear confirming 200 m down dip
continuity of Kam Point North zone, Newmont Option, NWT
May 18, 2021, 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 for two drill holes from the
Company’s Phase 1 drilling program at the Company's optioned property from Newmont Ventures Limited
and Miramar Northern Mining Limited (the "Newmont Option") adjacent to its Yellowknife City Gold
Project ("YCG"), NWT. The latest drill results extend the Kam Point North zone 200 met res deep er,
confirming down dip continuity. Kam Point North is situated approximately 1 kilometre south of the high-
grade Yellorex zon e reported previously (see figure 2) . Drill results continue to confirm the strike
continuity of gold mineralization for over two kilometres in the Campbell Shear structure from which the
former Con Mine produced 5 million ounces of gold.
President and CEO David Suda stated, “We have successfully intersected new gold mineralized lenses and
the presence of gold mineralization below 350 metres vertical depth in the southern part of the Newmont
Option. These latest results confirm the continuity of gold mineralization below the Kam Point North zone
that are comparable to the same high-grade mineralization style mined at the Con Mine . We have now
identified vectors to the higher -grade lenses within the broader Campbell Shear structure. Using these
vectors we will further test and build on our success this coming July with our 10,000 metre Phase 2 drilling
program along the Campbell shear structure, which remains open at depth and along strike in both
directions.”
Figure 1 –Drill hole locations and extent of mineralization in Campbell Shear
2 / 6
Drilling Highlights
Results for holes GTCM21-010 and GTCM21-011 totaling 1,372.42 metres are as follows and are shown
in figure 2:
• Hole GTCM21-010 intersected 1.80 g/t Au over 3.07 metres within the Campbell Shear
structure. This gold-bearing zone consists of a strong and pervasive sericite alteration with
smoky quartz veins, pyrite and arsenopyrite needles. The Campbell Shear intersected by hole
GTCM21-010 is 210 metres wide, including a 26 metre-wide undeformed “horse”. Areas that
were historically described as “horses” by Con Mine geologists were significant for localizing
gold mineralization in the pressure shadows they create.
• Hole GTCM21-011 intersected 1.32 g/t Au over 9.20 metres including 5.99 g/t Au over 1.45
metres within the Campbell Shear structure. The Campbell Shear intersected by this hole is 157
metres wide and is anastomosed, separated by several undeformed “horses” between strong
shear zones. The whole structure is 157m-wide including these “horses”.
Gold mineralization in both these holes is associated with thick smoky quartz veins rich in arsenopyrite
needles within a strongly sericitized alteration envelope hosted in a highly sheared mafic volcanic rock .
This is very similar to the same high-grade mineralization style mined at the Con Mine. These two holes
were drilled to follow -up alteration zones intersected by holes GTCM21 -006 (see April 6, 2021 press
release) and GTCM21 -007 (see April 2 7, 2021 press release ). Based on the geological model for the
Campbell Shear at the Con Mine, a sericite alteration halo surrounds high-grade gold mineralization. Hole
GTCM21-010 successfully intersected new gold mineralized lenses based on alteration halos identified by
previous drilling. The hole confirms the presence of gold mineralization at depth (below 350 metres
vertical depth). Hole GTCM21-011 tested the continuity of the gold mineralized lenses intersected by hole
GTCM21-007 (1.14 g/t Au over 11.05 metres) confirming zone continuity of at least 200 metres downdip
(see figure 3). Intersecting a gold envelope in the order of 1g/t Au over a width of 10m is highly indicative
of an area that requires additional drilling.
3 / 6
Figure 2 – Longitudinal Section showing drill holes GTCM21-010 and GTCM21-011.
Figure 3 – Cross-section showing hole GTCM21-011.
4 / 6
The Phase 1 winter drilling objective was to systematically intersect the Campbell Shear structure and to
define its internal gold structures. It is important to identify the corridors that hold gold mineralization as
Gold Terra’s compilation of level plans at the Con Mine show that low -grade gold transitions into high-
grade gold lenses and that the transition can occur over a very short distance. The Con Mine is a 5 Moz.
deposit that consists of such lenses with anomalous gold envelopes where the higher gold mineralization
often varies from a single narrow high-grade vein/shear to several withing the same envelope.
The Company completed its Phase 1 drilling program with 13 holes totalling 7,242 metres last winter, with
assays pending for the last two holes.
Technical Appendix
This news release reports the assay results from two (2) drill holes totaling 1,372 metres from which 430
core samples were assayed. Assays results range from non -detectable gold to the highest assay of 6.60
g/t Au. The best intersections are listed in Table 1. 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 (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 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 80 to 90 percent true thickness.
Table 1:Campbell Shear DDH intersections
Drill Hole Azimuth Dip Easting
(UTM,
NAD83, Z11)
Northing
(UTM, NAD83,
Z11)
From
(m)
To
(m)
Length
(m)
Au
(g/t)
GTCM21-010 087 -50 635407 6921758.5 458.40 459.45 1.05 1.75
GTCM21-010 485.65 488.72 3.07 1.80
GTCM21-011 088.5 -50 635590 6921342.3 247.90 249.70 1.80 1.59
GTCM21-011 262.00 271.20 9.20 1.32
Including 269.75 271.2 1.45 5.99
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 kilomet res 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.
5 / 6
The YCG lies on the prolific Yellowknife greenstone belt, covering near ly 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:
David Suda, President and CEO
Phone: 604-928-3101 | Toll-Free: 1-855-737-2684
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 legisla tion (" 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 current drilling on the Campbell Shear on the Newmont Option potentially
adding high grade ounces to the Company’s current YCG mineral resource, future planned drilling on the
Newmont 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 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
6 / 6
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.