Gold Terra Resource Corp (TSX-V:YGT, OTCQX:YGTFF) announced that assay results including 12.93 grams per tonne (g/t) gold over 1.7 metres (m) in drill hole GTCM23-055 have confirmed the extension of high-grade gold mineralization in the Campbell Shear (CS) below the Con Mine underground workings on the Con Mine Option (CMO) Property in the Northwest Territories.
The gold exploration company said it can acquire 100% of the CMO Property under an option agreement with subsidiaries of Newmont Corporation.
"The results from drill hole GTCM23-055 have confirmed our interpretation and given us great confidence to find additional high-grade ounces at depth typical of the CS," Gold Terra Resource CEO Gerald Panneton said in a statement.
"This opens the entire one-kilometre strike length with a potential for more ounces with more drilling at depth near the current bottom of the Robertson shaft (-1900 metres)," he added.
Panneton also noted that drilling is continuing with a lateral wedge from the Master hole targeting the CS some 75m north of the first intersection with more wedges expected to be done from the Master hole in the coming months.
The CS was successfully intersected from a downhole depth of 2,075m to 2,137.5m for a total of 62.5m, according to the company.
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