Gold Terra Resource Corp (TSX-V:YGT, OTCQX:YGTFF) has unveiled details of its Phase 2 deep drilling program, focusing on the prolific Campbell Shear on the Con Mine Option (CMO) property.
A recently completed hole, drilled to a depth of 3,002 metres, will serve as the anchor for a series of wedge holes designed to explore the Campbell Shear at depths between 600 and 700 metres below the Robertson shaft, the company said in a statement.
This branching-off technique from the master hole is expected to provide substantial advantages over traditional surface drilling methods, it added.
The Phase 2 drilling initiative aims to further investigate high-grade gold deposits in the Campbell Shear, which has historically yielded 5.1 million ounces at an average grade of 16 grams per tonne.
The CMO Property, under option from a Newmont Corporation (NYSE:NEM, TSX:NGT, ASX:NEM, ETR:NMM) subsidiary, is available for full acquisition by Gold Terra upon meeting certain conditions.
Gold Terra is targeting exploration below the previously mined area where 5.1 million ounces of gold were extracted. Specifically, they are focusing on the region between 1,900 metres and 2,600 metres below the surface, where the deposit continues to extend. This downdip area lies beneath the current infrastructure of the Robertson shaft and represents a deeper, potentially untapped portion of the gold deposit.
CEO Gerald Panneton highlighted the successful completion of hole GTCM24-056, noting that the master hole was achieved without damage.
“Our strategy remains unchanged to branch off the master hole with wedges to reach the CS (Campbell Shear) with shorter holes than from surface. The wedge holes will open a large under-explored area down plunge from the prolific CS that is 600 metres to 800 metres below the existing infrastructure and will eventually add high-grade ounces to our next MRE.”
The 2024 deep drilling program is set to expand upon the initial MRE from September 2022, which reported 109,000 Indicated ounces and 432,000 Inferred ounces of contained gold.