- Gold Terra Resource (TSXV:YGT) has initiated a 3,000-metre wedge hole drilling program on its optioned Con gold mine property in Yellowknife, Northwest Territories
- The company is pursuing a highly prospective target to expand Con’s 2022 mineral resource estimate
- Gold Terra is an advanced-stage junior exploration company drilling to expand its gold resources in Yellowknife, Northwest Territories, Canada
- Gold Terra Resource stock has added 8.33 per cent year-over-year but remains down by 75.93 per cent since 2020
Gold Terra Resource (TSXV:YGT) has initiated a 3,000-metre wedge hole drilling program on its optioned Con gold mine property in Yellowknife, Northwest Territories. Con’s September 2022 mineral resource estimate details 109,000 indicated ounces of contained gold and 432,000 inferred ounces of contained gold.
An initial five to seven drill holes seek to expand the resource by targeting the Campbell Shear (CS) from master drill hole GTCM24-056, which was drilled to a depth of 3,002 metres. According to Friday’s news release, the drill hole’s length facilitates the wedge hole approach, a more efficient and cheaper method compared to drilling from surface.
The CS features past production of 6.1 million ounces of gold grading 16 grams per ton (g/t) of gold. It was initially intersected by GTCM23-055, yielding 12.63 g/t gold over 1.7 metres, approximately 150 m below the Con Mine workings.
Gold Terra optioned Con from Newmont (TSX:NGT) for C$16 million in 2021.
Cross-section of master drill hole GTCM24-056
Leadership insights
“Building on our work in 2024, we are pleased to start our 2025 wedge hole drilling program to assess the high-grade gold potential of the Campbell Shear below the Robertson Shaft (1,900 metres depth),” Gerald Panneton, Gold Terra Resource’s chairman and chief executive officer, said in a statement. “This approach is a very efficient and cost-effective way to assess the CS at depth. We anticipate that 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. Our aim is to eventually add additional high-grade gold ounces to our next mineral resource estimate.”
About Gold Terra Resource
Gold Terra is an advanced-stage junior exploration company drilling to expand its gold resources in Yellowknife, Northwest Territories, Canada. The company’s 918-square-kilometre Yellowknife project houses the Con property, as well as a March 2021 mineral resource estimate of 1,207,000 inferred ounces in four satellite deposits in and around the Crestaurum open pit.
Gold Terra Resource stock (TSXV:YGT) opened unchanged trading at C$0.065 per share. The stock has added 8.33 per cent year-over-year but remains down by 75.93 per cent since 2020.
Join the discussion: Find out what everybody’s saying about this Canadian gold stock on the Gold Terra Resource Corp. Bullboard and check out Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo of senior project geologist Ryan Bachynski examining drill core: Gold Terra Resource)