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Gold Terra Resource Corp. (YGTFF) is a Vancouver-based company focused on exploration and development of high-grade gold properties, with a primary focus on the Campbell Shear structure located in the Yellowknife Project (YP) in the Northwest Territories. The company controls a significant land package covering one of Canada's major high-grade gold camps. Through strategic acquisitions, Gold Terra aims to expand its resource base and establish Yellowknife as a premier gold mining district. Recent drilling activities have shown promising results, with the potential to add substantial ounces to the existing resource estimate.
Gold Terra Resource Corp. (YGTFF) has initiated a deep drilling program on April 17, 2023, targeting high-grade gold mineralization below the historic Con Mine deposit, which produced 5 million ounces of gold. The Con Mine Option Property, under option from Newmont Corporation, presents opportunities for significant finds. Geological modeling indicates unexplored extensions below 2,000 meters depth, with planned drilling aiming to reach a depth of 2,300 meters. Aiming to expand the initial 2022 Mineral Resource Estimate of 109,000 Indicated ounces and 432,000 Inferred ounces, this initiative focuses on the Campbell Shear. The company considers this drilling program crucial for discovering more gold ounces and enhancing its standing in the Yellowknife gold mining district.
Gold Terra Resource Corp (YGTFF) announced promising assay results from its winter drilling program at the Yellorex North zone on the Con Mine Option Property in Yellowknife, NWT. From drill holes GTCM23-043 to GTCM23-048, all holes intersected the Campbell Shear, indicating a well-developed gold system. Significant intersections include 1.7 g/t Au over 4.34 metres and 4.31 g/t Au over 2 metres. The exploration aims to expand known mineralization, with an initial Mineral Resource Estimate of 109,000 Indicated ounces @ 7.55 g/t Au and 432,000 Inferred ounces @ 6.74 g/t Au. This ongoing exploration underscores the potential of the Campbell Shear, historically known for high-grade gold production.
Gold Terra Resource Corp has completed Phase 1 of its winter drilling program on the Con Mine Option Property, focusing on expanding the initial September 2022 Mineral Resource Estimate (MRE). A total of 13 drill holes were finished, with 5,769 metres drilled. Assay results are pending for 12 of these holes. The drilling targeted the Campbell Shear, where significant mineralization was confirmed across all drill sites. Highlights include intersections like 5.3 g/t Au over 6.43 metres and up to 212 metres of the Campbell Shear mineralization. Preparations for a deep drilling program are also underway to further explore gold mineralization below the historic Con Mine workings. The company anticipates results for remaining holes soon, aiming to bolster its current MRE of 109,000 Indicated and 432,000 Inferred ounces of gold.
Gold Terra Resource Corp (YGTFF) has entered into a binding agreement with Midas Minerals Limited for exclusive rights until April 30, 2023, to establish a definitive agreement. This arrangement allows Midas to earn up to an 80% interest in critical minerals (lithium, tantalum, tin) from 544.7 square kilometers of Gold Terra's Yellowknife property. Gold Terra will receive C$1.2 million, 2.2 million shares of Midas, and retain a 1% Gross Revenue Royalty. Midas is expected to initiate exploration in June 2023, with initial drill targets identified by August 2023.
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