Announcement Date: 2022-10-24
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Gold Terra Resources Corp.
Project name: Con
Location: Canada
Commodities: Gold
Highlight: Initial Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: September 7, 2022, Vancouver, B.C. – Gold Terra Resource Corp. (TSX-V: YGT; Frankfurt: TX0; OTC QX: YGTFF) (“Gold Terra” or the “Company”) is pleased to announce the initial Mineral Resource Estimate (“MRE”) on the Con Mine property, which is under option from subsidiaries of Newmont Corporation and acquirable by the Company upon fulfillment of certain conditions set out in the option agreement (the “Con Mine Option Property”), and located adjacent to the Company’s 100% owned Yellowknife City Gold project (the YCG Project”) in the Northwest Territories. The Company’s initial MRE on the Con Mine option Property is comprised of an underground mineral resource of 109,000 gold ounces in the Indicated category and 432,000 ounces of gold in the Inferred category (see Table below). In addition, the Company has 1.2 Moz inferred resources (see March 31, 2021 Technical Report) on their adjacent 100% owned YCG property. This extensive land package is close to the City of Yellowknife with all its extensive existing infrastructure. This initial Con Mine Option Property MRE incorporates a total of 41 diamond drill holes totaling 21,019 metres, completed by Gold Terra from September 2020 to June 2022 and all existing historic holes drilled before 2003, as interpreted by Gold Terra. The Yellorex Indicated resource was drilled on 25 to 50-metre spacing, between surface and 300 metres, and remains open at depth.
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