$YGTFF $YGT.V Gold Terra Drilling Successfully Int
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Posted On: 04/25/2025 7:53:59 AM
$YGTFF $YGT.V Gold Terra Drilling Successfully Intersects Campbell Shear Gold Target at a Vertical Depth of 2,560 Metres Below Surface, Con Mine Option Property, NWT
https://www.accessnewswire.com/newsroom/en/me...ti-1019411
VANCOUVER, BC / ACCESS Newswire / April 25, 2025 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company"
is pleased to report that the first wedge hole GTCM25-056A, has intersected the Campbell Shear (CS) from approximately 2,665 to 2,707 metres downhole (vertical depth of 2,560 metres below surface), with the best visual mineralization concentrated between 2,689.30 and 2,707 metres downhole (as shown in photos 1 and 2 further below) on the Con Mine Option Property (CMO). Wedge hole GTCM25-056A was stopped at 2,837 metres downhole in volcanic rocks. Core samples have been sent to the lab and assays are pending. The program is continuing with a lateral wedge hole (GTCM25-056B)100 metres north at the same target elevation.
In other news, the Company received an acknowledgement notice from Newmont Canada FN Holdings ULC that the Company has satisfied the requirement to incur an aggregate amount of C$8,000,000 (unaudited) in Qualifying Expenditures in Exploration Work on the Con Mine Option property pursuant to the Con Mine Option agreement.
Chairman and CEO, Gerald Panneton, commented, "We are very excited to have intersected the CS around 2,665 metres downhole or approximately 600 metres below the current depth of the historic Robertson Shaft. This intersection proves our model which show the high potential for the CS continuation at depth down plunge from a 5.1 Moz deposit @ 16 g/t Au which was mined historically at a rate of approximately 1 Moz per 200 metres vertical on average.
The objective of the 2025 wedge hole 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 Con Mine Option (CMO) property is under option from a subsidiary of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO property option agreement, as reported in the Company's news release dated November 22, 2021. The target is located downdip from the 5.1 Moz mined gold deposit plunging steeply to the south between elevation 1,900 metres (historic Robertson shaft depth) and 2,600 metres.
Wedge Hole GTCM24-056A Highlights
The CS zone starts at around 2,665 metres downhole, signified by an intensifying zone of crackle-style calcite brecciation and veining. From 2,681.20 metres downhole, shearing is more intense including some intervals with more veining, such as from 2,689.30 to 2,697.70 metres downhole, and containing laminated smoky quartz veins with up to 2% disseminated fine- to medium-grained pyrite and 1% blebby fine-grained pyrrhotite. Sphalerite is also noted.
Between 2,697.70 and 2,707 metres downhole, veining transitions to more crackle-style calcite with minor pyrite and pyrrhotite. Deformed pyrite grains aligned with shear fabric suggest continued but diminishing deformation. A final chlorite-biotite altered pulse with trace arsenopyrite and pyrrhotite is noted at 2,706.80 metres downhole.
Beyond 2,707 metres downhole and to the end of the hole, shearing is absent and chloritic alteration and calcite crackle and breccia textures occur. This material may represent the footwall which is noted to continue substantially beyond the main shear zone or an internal block or "horse" within the shear system, as referenced in historical Con Mine documentation
Figure 1 below is a cross-section showing the master hole GTCM24-056 and wedge hole GTCM25-056A intersecting the CS at 2,665 metres downhole. The CS was initially intersected at depth in hole GTCM23-055, which intersected 12.63 g/t Au over 1.7m (refer to November 15, 2023 news release) in the CS structure approximately 150 metres below the Con Mine workings, demonstrating the potential of the CS is well open at depth. Figure 1a, further below shows wedge hole GTCM24-056A in greater detail.
https://www.accessnewswire.com/newsroom/en/me...ti-1019411
VANCOUVER, BC / ACCESS Newswire / April 25, 2025 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company"
is pleased to report that the first wedge hole GTCM25-056A, has intersected the Campbell Shear (CS) from approximately 2,665 to 2,707 metres downhole (vertical depth of 2,560 metres below surface), with the best visual mineralization concentrated between 2,689.30 and 2,707 metres downhole (as shown in photos 1 and 2 further below) on the Con Mine Option Property (CMO). Wedge hole GTCM25-056A was stopped at 2,837 metres downhole in volcanic rocks. Core samples have been sent to the lab and assays are pending. The program is continuing with a lateral wedge hole (GTCM25-056B)100 metres north at the same target elevation. In other news, the Company received an acknowledgement notice from Newmont Canada FN Holdings ULC that the Company has satisfied the requirement to incur an aggregate amount of C$8,000,000 (unaudited) in Qualifying Expenditures in Exploration Work on the Con Mine Option property pursuant to the Con Mine Option agreement.
Chairman and CEO, Gerald Panneton, commented, "We are very excited to have intersected the CS around 2,665 metres downhole or approximately 600 metres below the current depth of the historic Robertson Shaft. This intersection proves our model which show the high potential for the CS continuation at depth down plunge from a 5.1 Moz deposit @ 16 g/t Au which was mined historically at a rate of approximately 1 Moz per 200 metres vertical on average.
The objective of the 2025 wedge hole 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 Con Mine Option (CMO) property is under option from a subsidiary of Newmont Corporation and is 100% acquirable by the Company upon fulfillment of certain conditions set out in the CMO property option agreement, as reported in the Company's news release dated November 22, 2021. The target is located downdip from the 5.1 Moz mined gold deposit plunging steeply to the south between elevation 1,900 metres (historic Robertson shaft depth) and 2,600 metres.
Wedge Hole GTCM24-056A Highlights
The CS zone starts at around 2,665 metres downhole, signified by an intensifying zone of crackle-style calcite brecciation and veining. From 2,681.20 metres downhole, shearing is more intense including some intervals with more veining, such as from 2,689.30 to 2,697.70 metres downhole, and containing laminated smoky quartz veins with up to 2% disseminated fine- to medium-grained pyrite and 1% blebby fine-grained pyrrhotite. Sphalerite is also noted.
Between 2,697.70 and 2,707 metres downhole, veining transitions to more crackle-style calcite with minor pyrite and pyrrhotite. Deformed pyrite grains aligned with shear fabric suggest continued but diminishing deformation. A final chlorite-biotite altered pulse with trace arsenopyrite and pyrrhotite is noted at 2,706.80 metres downhole.
Beyond 2,707 metres downhole and to the end of the hole, shearing is absent and chloritic alteration and calcite crackle and breccia textures occur. This material may represent the footwall which is noted to continue substantially beyond the main shear zone or an internal block or "horse" within the shear system, as referenced in historical Con Mine documentation
Figure 1 below is a cross-section showing the master hole GTCM24-056 and wedge hole GTCM25-056A intersecting the CS at 2,665 metres downhole. The CS was initially intersected at depth in hole GTCM23-055, which intersected 12.63 g/t Au over 1.7m (refer to November 15, 2023 news release) in the CS structure approximately 150 metres below the Con Mine workings, demonstrating the potential of the CS is well open at depth. Figure 1a, further below shows wedge hole GTCM24-056A in greater detail.
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