Gold Terra Starts Drilling on High-Grade Yellorex Gold Zone, Campbell Shear South of Con Mine and Reports on Assay Results for Crestaurum North and Ranney Hill Areas, Northwest Territories
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Gold Terra Starts Drilling on High-Grade Yellorex Gold Zone, Campbell Shear South of Con Mine and
Reports on Assay Results for Crestaurum North and Ranney Hill Areas, Northwest Territories
July 20, 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 that the Company’s fully funded 10,000 metre
Phase 2 drilling program has started with the objective to delineate a potential gold mineral resource to
add to the Company’s current NI 43-101 compliant 1.2 million inferred ounc e resource (see March 16,
2021 press release and NI 43-101 Technical Report). The drilling is focused on the Campbell Shear at the
Yellorex zone where significant high -grade gold zones were intersected during the Phase 1 drilling
program (14.09 g/t Au over 4.65 metres) (see April 6, 2021 press release).
In addition, the Company is pleased to announce assay results from five drill holes completed in April and
March 2021 at Crestaurum North and the Ranney Hill Shear located on the Company’s 100% Yellowknife
City Gold Project ("YCG"). Two of the drill holes tested previous trench and channel grab sampling results
which had returned values rangi ng from 4.11 g/t to 24.9 g/t Au, along with one very high -grade grab
sample of 746 g/t Au. Both holes intersected anomalous gold values with the highest value of 8.65 g/t Au
over 0.70 metres within the targeted shear/vein system and multiple horizons of shearing, alteration, and
quartz veining. Three of the drill holes targeted high -grade veins in the Crestaurum Shear adjacent to
Company’s current NI 43-101 compliant Inferred mineral resource of 1.2 million ounces.
Yellorex Zone Drilling - Campbell Shear South of Con Mine
The Yellorex zone is located immediately south of the Con Mine on property optioned from Newmont
Ventures Limited and Miramar Northern Mining Limited (the "Newmont Option") and adjacent to the the
YCG property. The Phase 2 drilling program will concentrate on the Yellorex zone and South Con Mine
area with a 50 to 100 metre drill spacing along strike and down dip (see Figure 1).
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Figure 1: Phase 2 drilling at Yellorex Zone.
Ranney Hill Drilling Results
Gold Terra’s land package has numerous prospective mineralized areas that require additional follow-up
work outside of the current Yellorex zone drilling program area (see figure 2). The Ranney Hill Shear was
identified as an area of interest for further exploration as more than 60 surface and channel samples
taken in 2017-2018 returned significant gold values. The top 15 samples returned the following gold
values: 746 g/t, 24.9, 21.7 g/t, 11.9 g/t, 11.55 g/t, 11.2 g/t, 9.64 g/t, 4.65 g/t, 4.4 g/t, 4.11 g/t, 3.72 g/t,
3.11 g/t, 3.1 g/t, 2.92 g/t, and 2.41 g/t Au.
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Figure 2 - Ranney Hill Shear Location Map.
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Two drill holes (GTRH21-001 and 002) totaling 302 metres were located between the West Bay and
Akaitcho Faults and 2.5 kilometres northwest of the Giant Mine. The two drill holes successfully
intersected the target shear. The higher grade intersection and the multiple horizons of anomalous gold
support the interpretation that this area is the southern strike extension of the Crestaurum Shear,
providing a 2.5 kilometre strike of untested shear. Drilling results are as follows:
• GTRH21-001 intersected 8.65 g/t Au over 0.70 metres in a vein within 1.60 metres of moderate
shearing in the Ranney Hill Shear at 103.86-105.46 metres depth. The shear contained blebby
fracture-filling pyrite and blebby pyrrhotite and pyrite in a halo around a smokey grey quartz
vein containing ankerite, chlorite, and pyrite fracture-filling.
• GTRH21-002 intersected 0.65 g/t Au over 4.00 metres, including 1.99 g/t Au over 1.00 metre
within 4 metres of the Ranney Hill Shear from 141.40-145.40 metres. The shear contained
ankerite-calcite-quartz veins with medium grained pyrite ± fine grained needley arsenopyrite.
Notable intersections from Ranney Hill Shear-area drill holes are as follows:
Hole UTM East UTM North From
(metres)
To
(metres)
Length
(metres) Au g/t
GTRH21-001 634993 6937975 23.41 25.23 1.82 0..52
GTRH21-001 37.49 39.99 2.50 0..66
GTRH21-001 69.57 71.07 1.50 0.106
GTRH21-001 77.07 78.07 1.69 0.157
GTRH21-001 104.76 105.46 0.70 8.65
GTRH21-002 635031 6938035 8 8.93 0.93 0.361
GTRH21-002 116.15 117.3 1.15 0.275
GTRH21-002 118.3 119.3 1.00 0.113
GTRH21-002 141.4 145.4 4.00 0.65
GTRH21-002 153.5 155 1.50 0.392
GTRH21-002 155 156.5 1.50 0.108
GTRH21-002 164 165 1.00 0.196
Crestaurum Drilling Results
Three holes, GTCR21-113, 114 and 115, totaling 318 metres were drilled in the vicinity of the
Crestaurum Shear target. Drilling results are as follows:
• Holes GTCR21-113 and GTCR21-114 targeted a N-NW trending vein set on the footwall side of
the Crestaurum Shear that contains various high-grade surface grab samples (up to 157.5 g/t
Au. Both holes intersected various styles of veining. Hole GTCR21-114 intersected considerably
more (six) individual veins with assay results ranging from 0.118 – 0.394 g/t Au, over 0.74 to
1.50 metres.
• Hole GTCR21-115 was drilled on the northern end of the Crestaurum Shear in efforts to
intersect the Hanging-wall structure and further define the main Crestaurum Shear. The
Hanging-wall assayed 1.46 g/t Au over 1.00 metre, while the Crestaurum Shear contained 1.56
g/t Au over 3.00 metres, including 3.24 g/t Au over 1.00 metre. The Hanging-wall structure is a
<1 to 4 metres wide NE/SW trending structure with prominent biotite alteration and wispy
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calcite veining, with boudinaged glassy grey quartz veining and sulphides (pyrite, arsenopyrite) ±
visible gold, that intersects the Crestaurum Shear at an oblique angle.
Notable intersections from Crestaurum Shear-area drill holes are as follows:
Hole UTM East UTM North From
(metres)
To
(metres)
Length
(metres) Au g/t
GTCR21-113 635445 6941585 11.9 12.9 1 0.103
GTCR21-114 635450 6941615 2.45 3.19 0.74 0.183
GTCR21-114 4.64 5.85 1.21 0.109
GTCR21-114 7.05 8.55 1.50 0.246
GTCR21-114 10.05 11.55 1.50 0.118
GTCR21-114 36.30 37.30 1.00 0.156
GTCR21-114 48.40 49.40 1.00 0.394
GTCR21-115 636285 6942115 21.66 23.16 1.50 0.109
GTCR21-115 47.75 48.75 1.00 1.46
GTCR21-115 243.98 246.98 3.00 1.56
GTCR21-115 251.03 252.53 1.50 0.802
GTCR21-115 256.53 257.53 1.00 0.643
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.
The YCG lies on the prolific Yellowknife 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 suc cessfully 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
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