Gold Terra Resource Corp (TSX-V:YGT, OTCQX:YGTFF) announced that drill hole GTCM23-055 has intersected the upper portion of the high-grade gold-bearing Campbell Shear at a downhole depth of 2,080 metres (m) from surface to test for gold mineralization below the Con Mine underground workings on the Con Mine Option (CMO) property in the Northwest Territories.
The gold exploration company said drilling continues through the Campbell Shear, which is typically 150m in width with mineralized zones generally 3m to 20m wide within the shear.
"The presence of alteration and veining in the core at the start of the Campbell Shear intersection in hole GTCM23-055 confirms the potential to delineate additional ounces beneath the former Con Mine," Gold Terra Resource CEO Gerald Panneton said in a statement.
"Once this hole is completed some 50-100 metres past the Campbell shear, additional wedge holes will allow us to further evaluate the Campbell Shear structure," he added.
Gold Terra noted that hole GTCM23-055 hole is targeted to intersect the down plunge extension of the prolific Campbell Shear zone at depth below the Con Mine deposit, where 5.1 million ounces of gold was produced at an average grade of 16 grams per tonne.
The company added that the focus of the 2023 drilling program is to expand the September 2022 initial Mineral Resource Estimate of 109,000 Indicated ounces of contained gold and 432,000 Inferred ounces of contained gold between surface and to a depth of 400m below surface along a two-kilometre corridor of the Campbell Shear.
The CMO property is under option from subsidiaries of Newmont Corporation.
Gold Terra Resource controls one of the six major high-grade gold camps in Canada with its Yellowknife Project (YP) and Con Mine Option (CMO) property, which lie on the prolific Yellowknife greenstone belt in the Northwest Territories.
Contact Sean at sean@proactiveinvestors.com