Panneton

Gold Terra Hits 4.57m @ 11.2g/t Gold At Yellorex Gold Zone Along Campbell Shear Structure

 

Drilling at Yellorex, Campbell Shear

With the highly anticipated Phase 2 drilling program underway since July 16th, testing the Campbell Shear at the Yellorex zone immediately south of the Con Mine (Yellowknife City Gold project, Northwest Territories, Canada) and optioned from Newmont, Gold Terra Resource (TSXV:YGT)(OTCQX:YGTFF)(FRA:TXO) was finally able to announce the first drill results. The assays of hole GTCM21-014 came back from the lab, and it was a solid result, with 4.57m @ 11.22g/t Au from 357m.  As a quick reminder, the Campbell Shear produced approximately 5 of the 6 million ounces of gold produced at the former Con Mine (1938-2002), is the main reason Executive Chairman Gerald Panneton (of Detour Gold fame) joined the company, and is the priority target for management.

All presented tables are my own material, unless stated otherwise.

Gold Terra Resource Looking for Multi-Million Ounce Deposit at Yellowknife City Gold Project, Raising C$2.88M

1. Introduction

When the mining industry is facing a gold bull market as it is now, many new opportunities are created in all kinds of forms and shapes in order to profit from it handsomely. This can for example be done through putting private assets into listed entities, buying new assets, creating a new vision for existing assets, but also turning around existing companies that have solid assets but not the management to make it a success. The last two options are what has happened to Gold Terra Resource Corp. (TSXV:YGT)(OTCQX:YGTFF)(FRA:TXO) recently, as it has seen a gradual turnaround in the last few years. Work is currently focusing on expanding their current mineral resource estimate with a drill program on the Campbell Shear, one of the highest priority targets at Gold Terra’s district scale Yellowknife City Gold Project.

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