Gold Terra Reports Results from the Crestaurum Drilling Program on its Yellowknife City Gold Project in the Northwest Territories (9.60 g/t over 4.5 metres in hole GTCR20-103)
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Gold Terra Reports Results from the Crestaurum Drilling Program on its
Yellowknife City Gold Project in the Northwest Territories
(9.60 g/t over 4.5 metres in hole GTCR20-103)
December 9, 2020 , Vancouver, B.C. – Gold Terra Resource Corp . (TSX-V: YGT; Frankfurt: TX0;
OTCQX: YGTFF) (“Gold Terra” or the “Company”) announces the completion of 7,648 metres of drilling in
25 holes at the Crestaurum gold deposit on its wholly-owned Yellowknife City Gold (“YCG”) project in the
Northwest Territories. The Company reports today the assay results of 11 drill holes totaling 4,101 metres
(Link to Plan View).
The Company has now commenced its 12,000 metre drilling program targeting the Campbell shear target
south of the Con Mine (past production of 6 million ounces of gold).
President and CEO David Suda stated : “The drilling program has been successful in extending the
Crestaurum shear structure by 500 metres to the southwest and to a depth of 600 metres. It remains open
and untested for another two kilometres to the southwest. The Crestaurum deposit remains a near-surface
target (surface to 200 metres) with the potential for additional high-grade gold mineralization.”
The first 10 holes totaling 5,864 metres were widely spaced (+150 metres) and confirmed the depth
extension of the Crestaurum shear structure to 600 metres and its extension to the southwest on the other
side of the Daigle Fault by 500 metres (refer to news release October 27, 2020 for the results of the first
four holes) . The remaining six (6) holes intersected the Crestaurum shear with low-grade gold
mineralization due to the lack of quartz veining (Link to Long Section) (Link to Cross Section for holes
GTCR20-093 and 096).
Another 15 shallow holes totaling 1,784 metres tested the Crestaurum shear structure to the southwest
beyond the Daigle Fault; secondary high-grade shears, veins and splays; and several high-grade zones in
the main Crestaurum shear to the northeast. The first five holes are reported today (Link to Long Section).
Hole GTCR20-103 intersected 9.60 g/t Au over 4.5 metres within the main Crestaurum shear to the north
(Link to Cross Section).
Following the new interpretation that the Daigle Fault was not displacing the Crestaurum main shear, Gold
Terra extended hole TCR15-057 to a depth of 190 metres and confirmed the continuation of the Crestaurum
shear system 30 metres to the southwest at a vertical depth of 60 to 95 metres. The high-grade intersection
of 43.00 g/t Au over 1 metre (hole TCR15-057X) contained quartz veins with visible gold and is currently
interpreted to be in the footwall of the main Crestaurum shear (Link to Cross Section).
Hole GTCR20-100 intersected 16.60 g/t Au over 1 metre in a quartz vein in the hanging wall of the main
Crestaurum shear (Link to Cross Section).
Assays are pending from the remaining 10 shallow holes. All holes intersected more than one shear
structure, potentially indicating the presence of multiple mineralized secondary shears and splays
converging towards the main Crestaurum shear.
Technical Appendix
This news release reports the assay results from 11 drill holes totaling 4,101 metres from which 1,189 core
samples were assayed. Assay results range from non -detectable gold to a highest assay of 43.6 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 (ALS) preparation laboratory in Yellowknife. A fter
sample preparation, samples are shipped to ALS's Vancouver facility for gold analysis. Gold assays of >3
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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 90-100
percent of 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.
Crestaurum - DDH Intersections
Drill Hole Dip Azimuth
UTM Location
From (m) To (m) Interval
(m) Au g/t
Easting Northing
GTCR20-093 -50 305 635889 6941198 376.65 377.65 1.00 3.24
GTCR20-094 -50 305 635798 6941026
463.0 465.5 2.50 0.51
483.87 485.87 2.00 2.08
GTCR20-095 -56 305 636171 6941351
358.4 359.4 1.00 2.14
480.0 482.0 2.00 0.48
GTCR20-096 -56 285 636691 6941352 769.0 771.0 2.00 2.50
GTCR20-097 -49 305 636171 6941531 400.0 402.0 2.00 0.94
GTCR20-098 -50 305 635903 6941475
231.97 233.97 2.00 0.69
250.81 251.81 1.00 2.12
TCR15-057X -45 304 635509 6941403
11.18 13.2 2.02 1.42
59.5 60.0 0.50 1.81
135.0 138.0 3.00 14.67
Incl. 135.0 136.0 1.00 43.60
GTCR20-099 -50 305 635986 6941918 131.5 132.5 1.00 1.42
136.7 137.7 1.00 1.08
GTCR20-100 -45 305 635944 6941822 18.53 19.53 1.00 16.60
132.11 134.73 2.62 0.78
GTCR20-101 -49 303 635965 6941987 76.0 77.0 1.00 4.60
91.5 94.55 3.05 1.28
GTCR20-103 -56 306 636076 6942053 124.0 128.5 4.50 9.60
The Company also announces the departure of Al an Sexton, Vice President Exploration, effective
December 1, 2020. The Company wishes to thank Mr. Sexton for his years of contribution to the Company
and wishes him success in his future endeavours.
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 t he City of Yellowknife,
the YCG is close to vital infrastructure, including all -season roads, air transportation, service providers,
hydro-electric power and skilled tradespeople.
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The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres 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
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 "w ill", "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 necessaril y 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 th ose expressed or implied
by such forward-looking information. In particular, this news release contains forward -looking information
regarding the Crestaurum deposit remaining a near-surface target (surface to 200 metres) with the potential
for additional high-grade gold mineralization 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 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 statements. 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.