Vancouver, BC / ACCESSWIRE / December 1, 2022 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) (“Gold Terra” or the “Company”) is pleased to announce the following exploration and corporate updates.
2023 drill program
We are pleased to announce that preparations are underway for our 2023 drilling program, which will commence on January 16, 2023. Additional ounces were added along the depth and strike of Campbell Shear south of the mine, as shown in Figure 1. The Company also plans to prepare a deeper target at the main plunge of the deposit where previous mining has halted in the high grade chute below. – 1900 meters with the Robertson Shaft. The geological interpretation of the Campbell shear under Con Mine operation suggests a very good high-grade potential to be tested. As reported in our news release dated September 7, 2022, CMO’s assets are options of subsidiaries of Newmont Corporation and will be acquired by us, subject to certain conditions set forth in the CMO agreement. can.
The CMO Property’s Mineral Resource estimate includes three gold deposits – Yellorex Main, Yellorex North and Kam Point, with approximately 820,000 tons of underground averaging 7.55 g/t Au for the 109,000 ounces of gold contained. Consists of the indicated mineral resources. An Inferred Mineral Resource of approximately 2 million tonnes averaging 6.74 g/t Au for 432,000 oz of gold content. (See technical report titled “Technical Report on Con Mine Option Property, Yellowknife City Gold Project, Yellowknife, Northwest Territories, Canada Technical Report” with an effective date of September 2, 2022)
Joe Campbell, Chief Operating Officer of Gold Terra and qualified person within the meaning of NI 43-101, P.Geo, has reviewed and approved the technical information contained in this news release.
Corporate update
The Company announced that Joe Campbell, P.Geo. Gold Terra Chief Operating Officer, has resigned and will remain as Senior Technical Advisor to the Company. Mr Campbell, a professional geologist with over 40 years of global experience in exploration and mining, said that in 2008 he founded TerraX Minerals (renamed to Gold Terra in 2020), one of the few districts He was instrumental in acquiring one of his larger scale projects, his large YCG project. – A Canadian gold project managed by a junior exploration company. Joe has been our Chief Operating Officer since October 2019. From June 2018 he was Chairman until October 2019 and from 2008 he was President and Chief Executive Officer until June 2018.
Chairman and CEO Gerald Pannetton said:We recognize and thank Joe for his tremendous contributions as the founder of TerraX and his insight into acquiring the large strategic YCG land positions currently being expanded with CMO. We are pleased that Joe will continue to support us in both the Senior Technical Advisor and Qualified Person roles and work with our team to ensure the success of our 2023 drill program. “
About Gold Terra
The YCG project covers 800 square kilometers of land immediately north, south and east of the city of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra manages one of six major high-grade gold camps in Canada. Located within 10 kilometers of the city of Yellowknife, the YCG project is in close proximity to critical infrastructure such as all-season roads, air transportation, service providers, hydroelectric power generation and skilled tradesmen. Goldterra has focused its exploration efforts on the rich Campbellshire, where 14 million ounces of gold have been produced, and most recently his CMO, just south of the previously-producing Conn mine (1938-2003). claims ownership of
The YCG project sits on the prolific Yellowknife Greenstone Belt and extends approximately 70 kilometers of strike length along the main mineralized shear system that previously produced high-grade Cong and Giant gold mines. We have you covered. Our exploration program has successfully identified a significant gold mineralization zone and multiple targets yet to be tested, re-establishing Yellowknife as one of Canada’s leading gold mining areas We are strengthening our goal of
Visit our website www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman and CEO
[email protected]
Mara Strazdins, Investor Relations Manager
Phone: 1-778-897-1590 | 604-689-1749 Ext. 102
[email protected]
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements and information contained in this news release constitute “forward-looking information” within the meaning of applicable securities laws (“positive informationIn general, but not always, this forward-looking information may be “planned”, “expected” or “not expected”, “anticipated”, “budgeted”, “planned” or “estimated”. , “predict”, “intend”, “anticipate”, “unexpect” or “believe”, or variations of such words or phrases, or any particular action, event, condition or outcome will”, “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be Achieve”, or any negative connotation thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily subject to known and unknown risks, uncertainties and our actual results, level of activity, performance or achievements may differ materially from those expressed or expressed. Based on estimates and assumptions that may be affected by other factors. It is implied by such forward-looking information. Among other things, this news release includes when the drilling program will begin in 2023, the CMO’s intention to drill an additional 10,000 meters at its facility, the purpose of drawing additional ounces, the CMO agreement, mineral resource estimates, and the timing of Campbell’s retirement. , the anticipated success of the drill program scheduled for 2023, and the company’s goal of re-establishing Yellowknife as one of Canada’s premier gold mining regions.
Our actual results and future events could differ materially from those projected in this forward-looking information as a result of the factors discussed in the Risk Factors section of this document and therefore we do not There is no guarantee that any such statements will prove to be accurate. Our most recent MD&A and Annual Information Forms are available under our profile at www.sedar.com.
The Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, but could cause results to differ from those anticipated, estimated or intended. Other factors may be present. Forward-looking information contained in this news release is based on information available to us as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results or future events could differ materially from those projected by such statements. All forward-looking information is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to inherent uncertainties. Except as required by securities laws and regulations applicable to us, we disclaim any intention or obligation to update this forward-looking information.
sauce: Gold Terra Resource Co., Ltd.
