The much anticipated Phase 1 drilling program, testing the southern extension of the Campbell Shear of the Yellowknife City Gold Project (1.2Moz Au Inferred resource), is well underway now, and the results are pleasing management of Gold Terra(TSXV:YGT)(OTCQX:YGTFF)(FRA:TXO) as it confirms historical drilling results. 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 Gerald Panneton (of Detour Gold fame) joined the company, and is the priority target for management. To date, Gold Terra has completed 13 holes for a total of approximately 5,700 metres along the Campbell Shear to vertical depth of 400 metres below surface.
As Gold Terra Resource Corp. (TSXV:YGT)(OTCQX:YGTFF)(FRA:TXO) has been drilling their Yellowknife City Gold project diligently since the company turnaround, the first resounding results of their work were announced to the public on March 16, 2021. The NI43-101 compliant Inferred resource increased from 735k Inferred oz Au to 1.207M Inferred oz Au, and this is still without the inclusion of (not yet disclosed) drill results from the Campbell Shear, one of the highest priority targets at Gold Terra’s district scale Yellowknife City Gold Project.
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.