Gold Terra Intersects 6.41/t gold over 26.50 metres including 14.15 g/t over 5.50 meters on Yellorex Zone, Yellowknife, NWT as Drilling Continues on Con Mine Property.
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Gold Terra Intersects 6.41/t gold over 26.50 metres including 14.15 g/t over 5.50 meters on Yellorex
Zone, Yellowknife, NWT as Drilling Continues on Con Mine Property.
April 6, 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 for three (3) holes to test the
Yellorex zone. Drill hole GTCM22-030 intersected 6.41/t gold over 26.50 metres including 9.05 g/t over
4.00 metres and including 10.66 g/t gold over 3.0 metres and including 14.15 g/t gold over 5.50 metres.
The hole was drilled along strike o n the Campbell Shear for metallurgical testing required for the
Company’s upcoming updated resource estimate on the project. The Yellorex zone is situated on the Con
Mine Property recently optioned from Newmont Canada FN Holdings ULC and Miramar Northern Mining
Ltd., both wholly owned subsidiaries of Newmont Corporation (see November 22, 2021 press release).
Holes GTCM22-027 and GTCM22 -028 were drilled to test the Yellorex zone at depth of 400m below
surface with GTCM22-028 intersecting 6.21g/t gold over 1.5 metres and GTCM22-027 intersecting 2.43
g/t gold over 1.0 metre.
Chairman and CEO, Gerald Panneton, commented, “The latest drilling on the Yellorex zone was completed
in preparation for our updated mineral resource estimate by year -end as the core from Hole 30 will be
used for metallurgical testing. Our updated mineral resource estimate is expected to add ounces from the
Yellorex zone.”
The location of holes GTCM21-027,28 and 30 is shown in the following Figure 1:
Figure 1: Location of holes GTCM22-027, 28 and 30.
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Drilling Results
Hole GTCM22-030 was drilled as an ‘off -angle’ hole obliquely to the strike of the Campbell Shear to
confirm the interpreted geometry of the Yellorex deposit ’s strike and plunge . The interpreted zone
orientation was confirmed, and three high-grade lenses were intersected consisting of smoky quartz veins
with arsenopyrite and pyrite with minor sphalerit e and stibnite. The sericite alteration halo surrounding
the high-grade lenses is intensive and extends from 237 to 587 metres along the hole. The recognition of
an extensive alteration halo signature extending for more than 200 metres along strike around a high -
grade mineralized zone is significant for the future exploration of the Campbell Shear. This will allow Gold
Terra to test the shear at a larger (200-metre) spacing using the signature alteration halo as a tool to
vector into high grade lenses such as Yellorex . The excellent intersection of 26.5 metres of ore typical of
the Campbell shear in hole GTCM22-030 will provide more core volume for the metallurgical testing. The
historical recovery of more than 5 million ounces of gold at the Con Mine averaged around 90% over the
years it was in production.
Holes GTCM22-027 and GTCM22-028 tested the Yellorex deposit at depth and are believed to be off the
main plunge of hole GTCM21-014 which intersected 5.22 g/t over 17.86 metres including 11.2 g/t gold
over 4.57 metres (press release September 7, 2021). Both holes intersected the Campbell Shear at
about 400 to 500 metres and minor mineralized zones consisting of arsenopyrite and pyrite stringers
within a sericite alteration zone. Both holes intersected the alteration halo surrounding the Yellorex
main deposit, which contains anomalous gold values in the 100ppb range over a width of approximately
100 metres. These holes are consistent with previous intersections just outside of the main high-grade
plunge, typical of the Campbell shear zone.
A table of significant drill intersections for holes GTCM22-027, 028 and 030 are shown in Table 1:
Table 1: GTCM21-027, 028 and 030 intersections
DDH # Easting Northing Azimuth Dip From
(m)
To (m) Length
(m)
Au (g/t)
GTCM21-027 635630 6922632 112 -65 503.50 506.65 3.15 1.06
GTCM21-027 551 552.00 1.00 2.43
GTCM21-028 635630 6922713 110 -60 463.25 464.25 1.00 1.08
GTCM21-028 479.6 480.40 0.80 1.61
GTCM21-028 536.25 537.75 1.50 6.21
GTCM22-030 636034 6922779 212 -49 243.50 270.00 26.50 6.41
including 249.25 252.25 3.00 10.66
including 256.50 260.50 4.00 9.05
including 264.50 270.00 5.50 14.15
GTCM22-030 320.50 322.00 1.05 1.11
GTCM22-030 480.70 485.00 4.30 1.73
GTCM22-030 582.00 583.00 1.00 1.20
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Figure 2: Yellorex Zone
The 2021 drill program of 26 holes totaling 12,687 metres was completed on December 18th targeting the
Campbell Shear over a strike length of 3 kilometres immediately south of the former Con Mine (1938 -
2003). The Campbell shear target and gold mineralizati on were intersected in all the holes of the 2021
program illustrating the continuity of the structure and identifying typical gold zoning similar to the former
Con Mine gold mineralization.
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.
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Technical Appendix
This news release reports the assay results from three (3) drill holes from which 679 core samples were
assayed. Results include final assays from holes GTCM-027, 028 and 030 for 1,918 meters of drilling, Assay
results range from non -detectable gold to a highest assay of 30.0 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 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 GTCM22-027 and 028 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 ar e interpreted to be approximately 90 percent true thickness. Hole GTCM22 -030 was drilled
obliquely to the interpreted strike of the mineralization to test the interpreted geometry of the
mineralized zone, and for metallurgical testing purpose.
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 h igh-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 drilling 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 Yellowknif e greenstone belt, covering nearly 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, Chairman & CEO
Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
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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.
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