Gold Terra Completes its Master Deep Hole at 3002 Metres to be Used for Wedge Holes Targeting the Prolific Campbell Shear, Con Mine Option Property, NWT
Gold Terra Resource Corp (TSX-V:YGT, OTCQB:YGTFF) has completed its master deep hole GTCM24-056 at 3,002 meters on the Con Mine Option Property in Northwest Territories. The company plans to use this hole for a Phase 2 deep drilling program targeting the prolific Campbell Shear (CS), which historically produced 5.1 Moz at 16 g/t gold.
The drilling strategy involves branching off wedge holes from the master hole to evaluate the CS 600-700 meters below the current Robertson shaft depth. This approach offers substantial benefits compared to drilling from the surface. The program aims to add high-grade ounces to the company's next Mineral Resource Estimate (MRE).
The initial plan includes 5-7 wedge holes totaling approximately 3,000 meters. The first wedge is planned to start at 2000-2100 meters downhole, targeting the CS at -2700 meters, 800 meters below the Robertson shaft.
Gold Terra Resource Corp (TSX-V:YGT, OTCQB:YGTFF) ha completato il suo foro profondo principale GTCM24-056 a 3.002 metri nella proprietà Con Mine Option nei Territori del Nord-Ovest. L'azienda prevede di utilizzare questo foro per un programma di perforazione profonda Fase 2 che mira alla prolifica Campbell Shear (CS), che storicamente ha prodotto 5,1 Moz a 16 g/t di oro.
La strategia di perforazione prevede la derivazione di fori a cuneo dal foro principale per valutare la CS a 600-700 metri sotto la profondità attuale del pozzo Robertson. Questo approccio offre vantaggi sostanziali rispetto alla perforazione dalla superficie. Il programma mira ad aggiungere once di alta qualità alla prossima Stima delle Risorse Minerarie (MRE) dell'azienda.
Il piano iniziale comprende 5-7 fori a cuneo per un totale di circa 3.000 metri. Il primo cuneo è previsto partire a 2000-2100 metri di profondità, puntando alla CS a -2700 metri, 800 metri sotto il pozzo Robertson.
Gold Terra Resource Corp (TSX-V:YGT, OTCQB:YGTFF) ha completado su pozo profundo maestro GTCM24-056 a 3,002 metros en la propiedad Con Mine Option en los Territorios del Noroeste. La empresa planea utilizar este pozo para un programa de perforación profunda Fase 2 que tiene como objetivo la prolífica Campbell Shear (CS), que históricamente ha producido 5.1 Moz a 16 g/t de oro.
La estrategia de perforación implica ramificar agujeros cuneados desde el pozo maestro para evaluar la CS a 600-700 metros por debajo de la profundidad actual del shaft Robertson. Este enfoque ofrece beneficios sustanciales en comparación con perforar desde la superficie. El programa tiene como objetivo agregar onzas de alta calidad a la próxima Estimación de Recursos Minerales (MRE) de la empresa.
El plan inicial incluye de 5 a 7 agujeros cuneados totalizando aproximadamente 3,000 metros. Se planea que el primer cuneo inicie entre 2000-2100 metros de profundidad, apuntando a la CS a -2700 metros, 800 metros por debajo del shaft Robertson.
골드 테라 리소스 Corp (TSX-V:YGT, OTCQB:YGTFF)가 북서 지역의 콘 마인 옵션 속성에서 3,002미터 심도 홀인 GTCM24-056을 완료했습니다. 회사는 이 홀을 활용하여 2단계 심층 드릴링 프로그램을 계획하고 있으며, 이는 역사적으로 16 g/t 금으로 5.1 Moz를 생산한 다산 캠벨 시어(CS)를 목표로 합니다.
드릴링 전략은 마스터 홀에서 웨지 홀을 분기하여 현재 로버트슨 샤프트 깊이에서 600-700미터 아래의 CS를 평가하는 것입니다. 이 접근 방식은 표면에서 드릴링하는 것에 비해 상당한 이점을 제공합니다. 이 프로그램은 회사의 다음 광물 자원 추정치(MRE)에 고품질 온스를 추가하는 것을 목표로 합니다.
초기 계획에는 총 약 3,000미터의 5-7개의 웨지 홀이 포함되어 있습니다. 첫 번째 웨지는 2000-2100미터의 홀 깊이에서 시작할 계획이며, -2700미터에서 CS를 목표로 하여 로버트슨 샤프트 아래 800미터에 위치합니다.
Gold Terra Resource Corp (TSX-V:YGT, OTCQB:YGTFF) a achevé son trou profond principal GTCM24-056 à 3 002 mètres sur la propriété Con Mine Option dans les Territoires du Nord-Ouest. L'entreprise prévoit d'utiliser ce trou pour un programme de forage profond Phase 2 visant la prolifique Campbell Shear (CS), qui a historiquement produit 5,1 Moz à 16 g/t d'or.
La stratégie de forage consiste à créer des trous en coin à partir du trou principal pour évaluer la CS 600-700 mètres en dessous de la profondeur actuelle du puits Robertson. Cette approche offre des avantages substantiels par rapport au forage depuis la surface. Le programme vise à ajouter des onces de haute qualité à la prochaine Estimation des Ressources Minérales (MRE) de l'entreprise.
Le plan initial comprend 5 à 7 trous en coin totalisant environ 3 000 mètres. Le premier trou en coin est prévu pour commencer à 2000-2100 mètres de profondeur, visant la CS à -2700 mètres, 800 mètres en dessous du puits Robertson.
Gold Terra Resource Corp (TSX-V:YGT, OTCQB:YGTFF) hat sein Hauptbohrloch GTCM24-056 in 3.002 Metern auf dem Con Mine Option Grundstück in den Nordwest-Territorien abgeschlossen. Das Unternehmen plant, dieses Loch für ein Phase 2 Tiefbohrprogramm zu nutzen, das auf die ergiebige Campbell Shear (CS) abzielt, die historisch 5,1 Moz bei 16 g/t Gold produziert hat.
Die Bohrstrategie sieht vor, von dem Hauptloch abzweigende Keilbohrlöcher zu erstellen, um die CS in 600-700 Metern unter der aktuellen Roberts-Schacht-Tiefe zu bewerten. Dieser Ansatz bietet erhebliche Vorteile gegenüber dem Bohren von der Oberfläche. Das Programm zielt darauf ab, hochgradige Unzen zur nächsten Mineralressourcenschätzung (MRE) des Unternehmens hinzuzufügen.
Der ursprüngliche Plan umfasst 5-7 Keilbohrlöcher mit insgesamt etwa 3.000 Metern. Das erste Keilbohrloch soll in einer Tiefe von 2000-2100 Metern beginnen und zielt auf die CS bei -2700 Metern, 800 Meter unterhalb des Roberts-Schachts.
- Completion of master deep hole GTCM24-056 at 3,002 meters, enabling efficient wedge drilling strategy
- Targeting high-grade gold in the Campbell Shear, which historically produced 5.1 Moz at 16 g/t
- New gold mineralization identified in the hanging granite wall, with assays up to 13.90 g/t Au over 0.60 meters
- Potential for expanding the Con Shear to supplement the Campbell Shear
- Previous deep hole GTCM23-055 intersected 12.63 g/t Au over 1.7m in the Campbell Shear structure
- Drilling results from GTCM24-056 show only anomalous gold assays up to 0.6 g/t Au over 0.6 meters in the Con Shear
- The Campbell Shear target is located 600-800 meters below existing infrastructure, potentially increasing mining costs
VANCOUVER, BC / ACCESSWIRE / July 29, 2024 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQB:YGTFF) ("Gold Terra" or the "Company") is pleased to outline its Phase 2 deep drilling program designed to continue targeting the prolific Campbell Shear (CS} from the recently completed master hole GTCM24-056 on the Con Mine Option (CMO) Property. Hole GTCM24-056 was drilled to a depth of 3,002 metres and will serve as a master hole from which to branch off with as many wedges as possible to evaluate the CS in a first phase of drilling from 600 metres -700 metres below the current Robertson shaft depth, up-dip and laterally. The branching-off wedge drilling strategy from the same master hole will allow for the evaluation of the CS with substantial benefits rather than drilling holes from surface.
The objective of the Phase 2 drilling program is to continue testing for high-grade gold in the CS (past production of 5.1 Moz @ 16 g/t, refer to the Oct. 21, 2022 Technical Report) on the Con Mine below the historic Con Mine underground workings. The CMO Property is under option from a subsidiary of Newmont Corporation and is
Chairman and CEO, Gerald Panneton, commented, "We have successfully completed hole GTCM24-056 to a depth of 3,002 metres with no damage to the master hole. Our strategy remains unchanged to branch off the master hole with wedges to reach the CS with shorter holes than from surface. The wedge holes will open a large under-explored area down plunge from the prolific CS that is 600 metres to 800 metres below the existing infrastructure and will eventually add high grade ounces to our next MRE (Mineral Resource Estimate). The completion of this deep master hole GTCM24-056 to 3,000 metres was a great achievement of our team and of the Foraco team of drilling operators.
Phase 2 Drilling Program Highlights
Figure 1 below is a cross-section showing the master hole GTCM24-056 from which numerous wedges of varying lengths are placed along to intersect the target area in depths shallower than that of the master hole. The first wedge is planned to start at 2000-2100 metres downhole with a CS target of -2700 metres, or 800 metres below the Robertson shaft. Wedges holes are designed to target the CS at depth first, and as we move up-dip, the wedges will be placed higher up. The first up-dip wedges will be started after a short break.
The Phase 2 drilling program will consist of an initial plan of wedge holes (5 to 7) with an approximate estimate drilling length of 3000 metres.
Figure 1 is a cross section showing master hole GTCM24-056, the hanging granite wall zone, the Con Shear, and the gold potential window of the CS targeted by wedge holes.
Master Hole GTCM24-056 Highlights
Deep in the hole, areas of deformation indicating a possible proximity to the CS were seen in the core, however these are areas which need to be evaluated. An area of increased deformation was seen in the core from 2782-2824 metres containing quartz veining, intermittent fabric development, and blocky texture as follows:
2782 metres: start of minor quartz-ankerite veining
2787-2798 metres: epidote breccia zone
2793-2799 metres: weak shear with minor QV; po-py-carb
2799 metres: minor bull QV with chlorite inclusions; fabric sub-// to CA; mx to weak fabric; fractured as shown in the photo below:
2817 metres: fault gouge
2817-2824 metres: mx to weak fabric; minor quartz-carb veining; minor po-cp as shown in the photo below:
Below 2,924 metres the drill intersected pillowed volcanic rocks with intermittent strain zones containing quartz-carbonate veining. The strain fabric may be a sign of proximity to the Campbell Shear structure. The core will be evaluated.
In addition, as previously reported (see May 22, 2024 press release) hole GTCM24-056 identified new gold mineralization ranging up to 13.90 g/t Au over 0.60 metres in the hanging granite wall of the Con Shear. The Con Shear was intersected further down the hole at a depth of 1,366-1,405 metres from surface with anomalous gold assays up to 0.6 g/t Au over 0.6 metres.
The hole intersected a granite from 264 meters to 1,365 metres containing numerous quartz veins with pyrite, arsenopyrite, stibnite, sphalerite and one occurrence of visible gold.
At the granite's lower contact, the Con Shear (past production 1 million ounces of gold at a grade of 20g/t, refer to the Oct. 21, 2022 Technical Report) was encountered, representing the deepest intersection of the Con Shear, with a multi-metre wide white quartz vein and numerous narrow smoky grey quartz veins. The Con shear was intersected where anticipated, suggesting good predictable of shear-hosted mineralization at depth on the Con Mine property. The new intersection adds potential for the Con Shear to be expanded to supplement the CS.
The first deep hole, GTCM23-055, intersected 12.63 g/t Au over 1.7m in the CS structure approximately 150m below the Con Mine workings, demonstrating the potential of the CS at depth.
The 2024 deep drilling program aims to expand the September 2022 initial Mineral Resource Estimate ("MRE") (see September 7, 2022, press release) of 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between surface and 400 metres below surface along a 2-kilometre corridor of the Campbell Shear (October 21, 2022 MRE titled "Initial Mineral Resource Estimate for the CMO Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada" by Qualified Person, Allan Armitage, Ph. D., P. Geo., SGS Geological Services, which can be found on the Company's website at https://www.goldterracorp.com and on SEDAR at www.sedar.com.
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
The Yellowknife Project (YP) encompasses 918 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 the City of Yellowknife, the YP 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 approximately 14 Moz of gold has been produced, (refer to Gold Terra Oct 21, 2022, Technical Report) and most recently on the Con Mine Option (CMO) property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).
The YP and CMO properties lie on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts 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
gpanneton@goldterracorp.com
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
strazdins@goldterracorp.com
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.
Information Concerning Estimates of Mineral Resources
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of "Measured Mineral Resources," "Indicated Mineral Resources," or "Inferred Mineral Resources" will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.
Cautionary Note to United States Investors
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ("CIM Standards"). The U.S. Securities and Exchange Commission (the "SEC") has adopted amendments effective February 25, 2019 (the "SEC Modernization Rules") to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources", which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to the corresponding CIM Standards.
U.S. investors are cautioned that while the foregoing terms are "substantially similar" to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources" under NI 43-101 would be the same had the Company prepared the Mineral Resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of "Inferred Mineral Resources" cannot form the basis of feasibility or other economic studies, except in limited circumstances where permitted under NI 43-101.
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 "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, potentially adding ounces to the Company's current YCG mineral resource, 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.
SOURCE: Gold Terra Resource Corp
View the original press release on accesswire.com
FAQ
What is the depth of Gold Terra's master deep hole GTCM24-056 on the Con Mine Option Property?
What is the target of Gold Terra's Phase 2 drilling program for YGTFF stock?
How many wedge holes are planned in Gold Terra's initial Phase 2 drilling program?
What was the highest gold assay result from the new mineralization in GTCM24-056 for YGTFF?
