Malibu, CA, July 22, 2020 AEST (ABN Newswire) - Gold Terra Resource Corp. (
CVE:YGT)(TRXXF:OTCMKTS) (TX0:FRA) ("Gold Terra" or the "Company) is pleased to announce its plan to start a fully-funded 10,000 metre drilling program in mid-August 2020, testing high-grade gold targets at its wholly-owned Yellowknife City Gold project ("YCG") in the Northwest Territories.
The first phase of drilling will focus on the high-grade Crestaurum gold deposit (Link to location map), which is accessible all year around by road, with the objective of expanding the current NI 43-101 inferred mineral resource estimate of 735,000 ounces of gold for the YCG project (Refer to news release dated November 4, 2019). Following completion of this drilling, the Company will start drilling targets on the high-grade Campbell Shear, which extends on the Company's property both north and south of the former Con and Giants, which have produced over 14 million ounces of gold (Refer to news release dated June 2, 2020).
David Suda, President and CEO, stated, "We are on the cusp of a turning point for 2020 drilling as we now turn our focus on drilling the high-grade Crestaurum deposit and the high-grade Campbell Shear structure. We are confident in the potential to expand the Crestaurum deposit along strike and at depth and very excited about the potential of a discovery along the Campbell Shear structure."
In this first phase, the Company plans to drill seven (7) holes totaling 3,700 metres over a strike length of more than 1 kilometre to test the depth extension of the Crestaurum deposit to 400 metres below surface, approximately 200 metres below the current resource limit, and to test the Daigle fault offset (Link to long section). Additional holes will be added subject to the success of this ongoing program.
Listen to the interview with CEO David Suda.
https://www.abnnewswire.net/press/en/101609/ygt
About Gold Terra Resource Corp.
Gold Terra Resource Corp. (CVE:YGT) (OTCMKTS:YGTFF) owns a 100% interest in the Yellowknife City Gold ("YCG") Project, encompassing 790 sq km of contiguous land within 12 kilometers of the city of Yellowknife. The Project is located in the prolific Yellowknife greenstone belt, covering 70 kilometers of strike length along the main mineralized break in proximity to the former high-grade Con and Giant gold mines which have produced over 14 million ounces of gold. The YCG Project is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power and skilled tradespeople. On November 4, 2019, Gold Terra announced an Inferred mineral resource of 735,000 ounces of gold for the YCG Project, consisting of a pit constrained Inferred mineral resource of 11.6 million tonnes averaging 1.4 g/t for 523,000 ounces of contained gold and an underground Inferred mineral resource of 1.2 million tonnes averaging 5.7 g/t for 212,000 ounces of contained gold.
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